Trade Journal
New Buys: ALXN, CATS, NTCT, ONXX, TSL
Added To: APPY, BKR
Sold-Profit: CPSL (+51%)
Sold-Loss:
posted by Nick M. @ 10:24 AM
Tuesday, September 25, 2007
About Me
- Name: Nick M.
- Location: United States
Hello and welcome to my blog. My name is Nick and I am a recent graduate of a top research university. I currently hold a BA degree in Psychology. My main interests are industrial/organizational psychology, HR management and of course, securities and the financial markets. I became interested in trading and investing in stocks a few years ago by pure chance and curiosity. After learning some of the basics in 2003, I began to trade in full force in 2004. Although I've been trading for only a few years, I have learned much about stocks, and analyzing charts in this relatively short time span. My experience and chart reading skills are my edge in successfully navigating the stock market. My strategy and discipline is a blend of trader and stock picker. My style of trading has helped me find some of the current markets top winners in their infancy. In addition to my own personal trading and investing, I also manage assets and portfolios for close friends and family. My goals are to continue to improve and refine my trading/investing strategies in order to further enhance my performance in the market. Eventually, I would like to establish my own investment/asset management firm.
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- Trade Ideas for Tuesday, September 25, 2007
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4 Comments:
Looks like I sold CPSL too soon and added to BKR a bit too early...
What about PAET? It has been down every day since I bought it (of course, always seems to happen to me). Is it going to recover?
Mateo,
PAET bounced off its 50 day MA today which is good. I would sell it if it falls either 7-8% from the price you bought it or (since its close to its 50 day), if it closes below its 50 day MA. This is the same cut/stop-loss strategy that I use for all my stocks. It is important for you to know that my stop-loss strategy may work better with my trading strategy, as I am constantly holding, buying, adding to and selling many stocks at a time. Also, if a particular stock is not moving in line with the overall market trend (a laggard), I usually sell them even before a stop-loss sell is even triggered (no questions asked). I am not sure how you are trading (whether you trade several stocks at a time or if you put your cash all in one stock). Nonetheless, remember that if you are not happy with a trade, get rid of it while your losses are small and find another stock with a more attractive set-up to start over with. I understand how this can be frusterating and I am used to it. For every stock that goes up, I may have another 1 or 2 that are not performing as well. The key thing that I do is I get rid of the lagging or poor performing stock and either add more to a better performing stock (that I already own), or find a new one with a much more attractive setup.
Mateo,
And another thing. It takes time for some stocks to set up. While I usually like to jump into stocks that may be setting up a break out, it may be best for you (an easier) to trade stocks in confirmed breakouts. Usually, these kinds of stocks have powerful momentum and volume to back them up and carry them higher. A good example of this is FMCN, PENX (remember that breakout?). Another good example of a good breakout can be found in TDG.
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