*Update* June 7, '09
Alright, I'm adjusting my thread. Simply put, I can't compete with the experience of traders like simon, kevin, ec, and too many others here on HSM to list. If I tried really hard, I'd be hard pressed to top their picks with other picks of my own. Besides, I have no desire to waste time doing that; I'm perfectly happy looking at the stocks that reliable members alert on this forum and filtering them through my own research.
Since that realization, I've been wondering how I can make a better contribution here. The answer came pretty easily to me after FGOCE made me 50% last Monday. It was a "pincher" and I've spent quite a bit of time lately exploring this type of play. Excluding myself, I haven't seen it mentioned here at all, to my recollection. So that's where I'm taking this thread. I'll be exploring pincher plays that I come across, in addition to those mentioned on other forums by traders with a lot more experience than myself.
I've also made a decision on the criteria of the stocks I will play. Breakouts/continuation, pinchers, uptrending, and FDA plays. That's it. No PR-anticipating or illiquid wastes-of-time allowed, no matter if they're sub-penny, penny, or NYSE stocks. For that matter, I will only discuss pinchers and FDA plays in this thread. Look at the other members for breakouts and uptrenders, that's what I do.
Well, I've spent a ridiculous amount of time these past 2 weeks trying to figure out if I can come up with a heavily TA-biased trading system that fits my lifestyle. When I say TA-baised, I mean the only Fundamental research I will be doing on these stocks is scanning PR headers with, perhaps, an occasional click-on-a-link, in order to avoid obvious red flags.
I can't update this thread during market hours nor can I access real-time quotes at work due to restrictions on government computers; I will embrace these factors instead of fighting against them and, did I mention I don't have a choice?
That being said, these picks are not for day trading. My eventual goal is to be able to make swing/weekly picks, but, for right now, I'm still fine-tuning the set-ups and triggers so I can't give a specific time-frame on these picks. Weeks, not months is what I'm hoping for.
I won't bore you with the detailed criteria of these picks because this system, quite frankly, might not work. To summarize, I'm looking for prices that have strayed from their moving averages and should rebound back towards them. This concept is not new; it's popular, simple, tried, tested, and true.
Anyone will tell you MA's are lagging indicators and particularly useful in an uptrending market, which is where we will all be at in a matter of time (hence the testing). As this market recovers, I'd like to be done with experimentation so I can move on to application (making $$$).
I'm experimenting with my money; I should warn you not to experiment with yours, but you probably wouldn't listen. Since, we're both here, let's at least try to learn from each other. GL.
All valuable input is appreciated. I'd especially like to hear from simon, eastcoast, kevin, etc. (you know who you are) and TYIA.
Alright, I'm adjusting my thread. Simply put, I can't compete with the experience of traders like simon, kevin, ec, and too many others here on HSM to list. If I tried really hard, I'd be hard pressed to top their picks with other picks of my own. Besides, I have no desire to waste time doing that; I'm perfectly happy looking at the stocks that reliable members alert on this forum and filtering them through my own research.
Since that realization, I've been wondering how I can make a better contribution here. The answer came pretty easily to me after FGOCE made me 50% last Monday. It was a "pincher" and I've spent quite a bit of time lately exploring this type of play. Excluding myself, I haven't seen it mentioned here at all, to my recollection. So that's where I'm taking this thread. I'll be exploring pincher plays that I come across, in addition to those mentioned on other forums by traders with a lot more experience than myself.
I've also made a decision on the criteria of the stocks I will play. Breakouts/continuation, pinchers, uptrending, and FDA plays. That's it. No PR-anticipating or illiquid wastes-of-time allowed, no matter if they're sub-penny, penny, or NYSE stocks. For that matter, I will only discuss pinchers and FDA plays in this thread. Look at the other members for breakouts and uptrenders, that's what I do.
Well, I've spent a ridiculous amount of time these past 2 weeks trying to figure out if I can come up with a heavily TA-biased trading system that fits my lifestyle. When I say TA-baised, I mean the only Fundamental research I will be doing on these stocks is scanning PR headers with, perhaps, an occasional click-on-a-link, in order to avoid obvious red flags.
I can't update this thread during market hours nor can I access real-time quotes at work due to restrictions on government computers; I will embrace these factors instead of fighting against them and, did I mention I don't have a choice?
That being said, these picks are not for day trading. My eventual goal is to be able to make swing/weekly picks, but, for right now, I'm still fine-tuning the set-ups and triggers so I can't give a specific time-frame on these picks. Weeks, not months is what I'm hoping for.
I won't bore you with the detailed criteria of these picks because this system, quite frankly, might not work. To summarize, I'm looking for prices that have strayed from their moving averages and should rebound back towards them. This concept is not new; it's popular, simple, tried, tested, and true.
Anyone will tell you MA's are lagging indicators and particularly useful in an uptrending market, which is where we will all be at in a matter of time (hence the testing). As this market recovers, I'd like to be done with experimentation so I can move on to application (making $$$).
I'm experimenting with my money; I should warn you not to experiment with yours, but you probably wouldn't listen. Since, we're both here, let's at least try to learn from each other. GL.
All valuable input is appreciated. I'd especially like to hear from simon, eastcoast, kevin, etc. (you know who you are) and TYIA.
