Momentum Stock Trading Hi. I would like to learn how to select momentum stocks which will keep rising lightningly quick for weeks/months (I'm not interested in daytrading volatile stocks). Does anyone know if there're any good resources or trading systems/indicators which I can learn from? Thank you!
Were I you, I would skip the momentum and just go for a steady 4 to 7% net daily in stocks. There are many many resources, systems /indicators; skip the good ones and go for the excellent levels from which to learn. So far you have missed the key consideration. This is not unusual. To go from A to N, is the key consideration. Call my first paragraph X and the second Y. Y is the tools set for getting X out of the market everyday. Your first words: "I would like to learn" is where your hang up needs to be solved. It is best to use your present time to get past this hang up. Being at A is as far away from N as you will ever be. A is the least clear place for figuring out how to go from M to N. Most people look at the series of tasks as dominos that are lined up in a row going from A to N. You may think that you "would like to learn" but you do not have what it takes presently. No dominos and no place to set them up and no way to understand anything about what learning is about. It's your hang up. There is another example going on here that deals with some stuff. It is a guy explaining about doing what he does. You can read it and see how a person such as yourself cannot relate to what he is selling. The learning you would like is something that you "need" to understand about as soon as possible. Up to the point that you get this understood, it is going to be difficult to begin doing anything else. At N you are totally equipped with Y to make the money available in X. What does it mean to be equipped? How can you do the equipping? Getting equipped is the problem that everyone faces. Some do; most are screwed from the get go. Making money in stocks at the rate that is more desirable (lightningly) depends upon being a very effective and efficient performer. It is not a profession or anything like a profession. It involves being totally equipped instead. For practice, I profiled a guy named volk something. Over three pages of items etc.. I wanted to estimate when he is going to hang it up and why. I am not going to profile you. The actual thing about making a lot of money in the markets is that it is a bona fide effort. It depends upon getting the job done for real and not in any other way. Reality is where the check back occurs on being equipped. It is not whether you are equipped to some extent of not. It is a total picture. Markets are huge and offer an inexhaustable supply of money to people who have equipped themselves. I can suggest to you that there are people all over the place so equipped and they continually pull out of the market what is offered to the extent of their needs or even desires. It is a no cap situation. Money does not come out of markets as lightening operates; it works like sunlight does during market hours. So far no one has needed more sunlight than that which is available. My pool is painted black (I prefer laser lighting for occupants) and the ramadas for my autos are overlain with collectors that operate (heat and cool) my pool 24/7/365. Try to get this: learning is a process. You have a hang up. Look at some of the conventions out there. Lets say you are a person who wants money. Often the convention is to earn it by contracting with a person who has money who is willing to pay you for your work. You will be helped by that person paying you to realize your potential. At the beginning you have potential and nothing else (You are new). You are at A. Your hang up is how to find a way (to learn) to realize your presumed potential. Knowing a variety of Y's is not a way. Knowing that there is X every day of the week is not a way. You need to find out what the process is for learning to make money.
Yes, that's what I want. A stock which has momentum and keep rising most of the time. If it can rise 4-7% daily on average, the stock seems to be "hot" enough. I just wish to be a momentum swing trader (NOT daytrader). Buy high and sell higher. When one stock loses its momentum (and start to move sideways or go fall), it's time to spot another momentum stock.
So... no one knows any books/resources/materials which can teach people how to be a momentum swing trader?
Do yourself a favor and study this thread thouroughly. http://www.elitetrader.com/vb/showthread.php?s=&threadid=38777
If you want to make big money, focus your time on finding and trading the big trends/ideas... thats where the big money is... I know guys that trade 5 stocks a year and make a few million dollars. Apparently Zanger made $25 million last year trading GOOG and AAPL.