Peils Journal 2 (back from blow up) Fundamental Style

Yup im back After sitting on the benches for the last 6 months I got together about 17.5k and opened a retail account at scottrade. Why scottrade? Well it stops me from having too much margin and overtrading...plus 7 dollar trades and no fees is great. Maybe i'll go back to bright trading when i build up my bank roll and can afford that 200 dollar a month desk fee. But anway....I made a bad trade last month...I bought SIRI based on the fact that i just went out and bought a sirius satilite radio. Bought it at 4.80 and sold it at 4.60 only 2k shares so it didnt hurt too bad...its still been going down and i will stay away from this stock until it start to show profit.

So today i bought 2450 shares of TOPT @ 7.10 This company at least seems to be growing fast and i think it will hit 8.50 by august. I know, It wont be as impressive as some stocks with their daily 10% gains but i dont like risk after losing all that money last year.

So i probably wont be posting all the time, but its just to let you all know im still in the game, just playing it safer. Maybe when i get my account to 50k or so i will put 25k into an account at bright and see if i can daytrade again. Or maybe not.

 

TOPT is going to $6 before it goes to $10

Look at all timeframes, including the monthly.

 

Could you tell us a bit about your strategy and plan. Where is your stop on TOPT?

Good luck!

 

If you think so, why dont ya short it and we will see who takes who's money.

 

if you already blew out once instead of writing a journal you should be reading journals by successful traders.

 

your entry means nothing

where is your exit stop?
exit target?

 

No stops...im not trading technically. This is a long term hold and im going quarter by quarter. Unless some bad news comes along i plan to hold it. If TOPT hits 7.50 or 7.75 in the next few days though i probably will get greedy and take the profits though. My strategy is to only invest in growing companies that consistently show increasing revenues/profits.

 

great strategy!

prepare to blow up again.

 

The point is you are just guessing and according to the chart which looks like S*** guessing badly. You "think" its going to 8 by august? good analysis.

 

This is probably why you blew your account out the first time.

You should have a stop for every trade. Trading on hopes and dreams won't get you far. You have to preserve capital.

*Edit* Nothing wrong with being a beginner, but you should have learned something from blowing out your previous account.