My challenge for myself this year – starting with a very very small account, and having to deal with (or maybe not?), the PDT rules. There are ways around it, I’m employing 2 of those ways, but the trade sizes then must be kept extremely small. Doing a small account is something I’ve never done over my trading career, so there has been plenty to learn, and I’m really enjoying the challenge and the experience. All of this was discussed in the conference call recently. The way I’ve set this up and approached this, I am avoiding the PDT rules, small position sizing, but I do a lot of trades.
As discussed in this post about VTL, and the outstanding trades I had in there on 4/5. So how do I recognize, AHEAD OF TIME, which stocks have the potential for very big moves? I consistently have what turn into the top stocks of the upcoming day on my watch list
How do I keep – on a very high % winning basis – constantly/consistently finding/recognizing, and much more importantly then trading, the #1-5 top stocks of the day? – HARD WORK. Period. Many of these trades have been posted and discussed in detail, on the website. Are you studying studying studying these? If not, you do not deserve to succeed.
READINESS-TO-MOVE (RTM):
I have a system, strategy, approach which I had – recognized something, a pattern, repeating, then I started watching it, tracking it, developed it and honed it – and it took a long time, and I’m still honing.
To repeat:
My list coming in to 4/5, plus VTL which was added before the market open and was the #1 stock of the day and CVM also on the list was the #3 stock.
So in 2 parts, the list, part #1 I had long positions coming in – XOG up 10% sold 1/2, ZYNE up 17% sold all, REPH barely up scratched, TYHT down 6%, I was actually up 10% in TYHT but did not take it and lost about 6%. Part #2 – I did not come in long – CVM the #3 stock of the day up 21%, MRNA bought the bko all time-high at 23.30 on Friday up 12%, and DNR up 9%.
Some AHEAD OF TIME recognition of CUP WITH HANDLE setups:
VTL – So was it a cup/handle?
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CVM, I had/have been watching, and RECOGNIZING that we have a cup/handle in the works. So was it a cup/handle?
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ZYNE: Out of the trade. And – what’s the setup?
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XOG: I had been watching it for 6 weeks. So, was that correct recognition of a Cup/Handle?
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MRNA: Cup and Handle?
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TYHT: Bought on 4/3 near the close, it was my good close stup. I’m looking for a quick pop with that very specialized setup. It actually did work, it was up 10% in ah trading, I could not get it sold, and sold, got out.
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REPH:
Good examples, thanks!
You held ZYNE for a reaction very close your 10% stop, I don’t think I have the confidence for that yet, I would have bailed earlier.
I had been watching it for weeks, traded it, completely believed in the trend, AT THAT TIME. Also, finally sold rest of CVM today, 7.48, I had a 7.50 parameter for it, very pleased with my plan and my follow thru. ATAI, not as pleased, up on both sales in it from 1.76 buy, 2.10 and 2.15 but should have gotten much more. I tried to sell into the second top, I really believed it would go to a new high above 2.50, screwed it up and sold into selloff – stupid. Also not happy missing the 1.04 dip buy in SHLDQ. So the life of a daytrader, never satisfied.