Do any of you guys trade like Dan Zanger -- if you don't know, it means position trading, break out style, using nothing else but chart patterns and price action- ---riding a couple momentum names like GOOG AAPL last year, TZOO TASR other years, BIDU this year. It has got to be one of the most attractive ways to trade but you need a ton of patience to find those winner stocks. Most traders here scalp and trade 20x + a day?
I try to a bit but not much out there right now for a Zanger-type market. BIDU really the only one. If I may ask, what positions are you interested in?
I don't like to discuss my positions in an open forum but I can tell you there are a few stocks, other than BIDU, which are setting up beautifully.
Also, you don't have to be trading all the time ... you can grow your account sickly with 4-5 good trades a year if you understand the basics of position sizing and riding winners.
what a tease! there are liquid stocks that Zanger is intersted in, I don't think naming a couple of stocks that are setting will affect the bigger picture....
I'm currently reading 'How to Trade in Stocks" by Livermore/Smitten. It's very interesting to see the similarities between their styles, e.g. Jesse's concept of pivotal points or the importance of waiting.
This is a very limited understanding of Zanger's trading style. One of the key element to his stock selection is Earnings and sales growth rates. He has dropped his other criteria of low float in recent years as his account size has increased. He basically trades a modified Canslim strategy. If you study his style, there is a lot more than chart reading to it. Chart reading is just 20% contribution to his success. Equity selection is the key.