I already trade 'almost' only one stock. Make money 95% of the time too. Sorry, can't say what it is.
What a coincidence, I also trade one stock and lose money 95% of the time. So you're the #&@&!@# on the other side!
From most postings on the internet, i was under the impression that most everyone used scans for daily trading candidates; i have been specializing in one stock trading since 1989; thought i was alone in that strategy, guess i should get out more!! Choice of candidates on this thread is interesting since they're not all volitile tech stocks. Would be interested in reasoning behind choices and particular trading methods utilized for comparison purposes. In my case, I trade my IRA which allows me to chuck all confirmations and tax considerations since gov doesn't require reporting(nice treat) but can only go long and can use available funds just once a day, so discipline in setups and exits is essential. But once i use my allotment i can go to beach until next day. Hence i lean toward stocks in trading ranges such as FNM or FRE, that have good liquidity and moderate daily ranges, speed isn't essential, and which trend id for a good time span so stress is reduced somewhat as opposed to trading the likes of AMAT where every tick is critical. I'm really looking for 1-2 good position trades/day only. Hence price with bollinger bands is adequate. Living Well Is The Best Revenge.
Can you explain more about how to trade your IRA? I am new to this and would like to find out more.....Do you mean that you don't have to report your capital gains to the IRS?
Just transfer your IRA to a broker and then just trade it as you would any account with these restrictions: (1) IRA is a cash account, i.e. no margin allowed; (2) not allowed to day trade account which for a cash account means you can only use funds available that day just once; (3) no shorting allowed. Obviously if you tried to short or use margin any day your order would be spit back before execution ; however if you overtrade your account will be restricted for 90 days by your broker, the actual restrictions vary from firm to firm but my firm just makes me phone in my orders till i beg them to remove restriction. Actually they are pretty lenient as long as you don't repeatedly break rule,because the FED actually watches them. BUT the big benefit of managing your IRA Account is there is absolutely no reporting to the IRS period, so you can chuck all your confirmations and not have to detail any trades. All the IRS cares about is what you contributed to the account each year(if anything) which everyone reports on their 1040 anyways if applicable; and at 59.5 years of age if you withdraw funds then the normal reporting starts. So basically I love to trade my IRA as a longside cash account and i don't worry at all about taxes etc. I use my regular brokerage account for shorting/hedging against my IRA if appropriate. Hope this helps some Living well is the best revenge.
"(3) no shorting allowed. Obviously if you tried to short or use margin any day your order would be spit back before execution " you can short in an ira with pro or rydex funds
that is not shorting, you are buying those funds trying to guess direction of mkt each day, and you can only do it at morn and late aft times; as my trader friend has been employing that strategy for a while. But technically you can't short in an IRA and you know it so let's not confuse the issue please. Living well is the best revenge.