If you don't like longer time frames you probably won't like this "system" Lets say I'm looking for stocks that have had solid uptrends for the past year or so. Examples: AMX http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=amx&sid=0&o_symb=amx&x=0&y=0 NVDA http://bigcharts.marketwatch.com/qu...=nvda&sid=0&o_symb=nvda&freq=1&time=8&x=0&y=0 ET (this one in particular is beautiful. Something to do with the name?) http://bigcharts.marketwatch.com/qu...symb=et&sid=0&o_symb=et&freq=1&time=8&x=0&y=0 Stops are are 10% as well as discretionary if the chart pattern starts looking bad. I'd expect the average holding time to be several months in order to shoot for greater than 10% gains. Do you think a simple buy and hold system like this would perform well? The charts just scream at me "bet on me continuing in this direction" I would think buying these trendy stocks for the long term could be quite profitable.
You have an elephant's memory, I didn't even remember that. I'm up to 11k now and it's returning a meager 4% or so until I find a good strategy that I'm satisfied with (probably won't be this year, no joke)
Well, the reason I ask is because back in July you asked the same question and I suggested Latin America which is up 45% since then. BUT the same issue still remains. These are all momentum stocks and you either have to track them very closely or be ready to lose 5-10% with some large stop. It just depends on your style. You're trying not to lose your principal and keep looking at the possibilities and the possibilities keep passing you by. I understand that. Been there, done that. Just put 2-3K in some fund then, instead of some momo stock. Then 3-6 mos later put another 2-3K again. Do that 3-4 times and you're fully invested with much less worry than you're having now. Good luck!
Thanks for the advice. I'm not interested in funds any more because I want to do my own stock picking. I think as long as I make an effort to actually follow a method I've learned here or from other sources I will find something that suits my style. But with so many different styles (spydertrader, praetoran, acrary...) i find myself jumping around trying to learn everything without actually applying anything. I think (not sure though) that by next year I'll have something worthy of trading real money on.