This isn't quite up to par on my rules for picking stocks but I've always liked CHNG. When I saw it down around 11 bucks it looked like a good longer term position. So I got in at a decent level. I'll keep this in the corner of my portfolio for the next couple weeks.
I got in at 11.60 stop is at 10.50 just because of the crazy volatility but I'll raise in time to slowly lock in profits while adding shares, if it plays out right.
I started changing things up a bit as far as how I go about getting into stocks. I noticed that I had a plan for selecting them, but I didn't quite know when to get in. I guess I'd just kind of wing it. Also with my horrible stop loss methods I get screwed up a lot. That's all changed now.
I've got a somewhat general plan on picking stocks but still detailed enough to weed out the crap. My entry point is a little more defined based on what I think is a good method to use. Coupled that with my methods of managing risk things should be turning around, but we'll see what happens.
Anyway, back to why I started this post. I got in on WIND at 11.88 and stop is at 11.55 The overall trend of WIND is up, EMA's are looking good and volume is relative to the price action. I set an alert to go off if it a decent support level. It hit that level and watched to see it confirm these levels once again, it confirmed, so I got in. It was also going up while the QQQ's are falling, which is always good to see.
Still working on my patience/over trading problem. I feel I need to be in the markets all the time but what I need to do is find a plan that I'm confident in and wait for the setups that I've created and buy it. If I do that enough I'll start gaining more and more confidence in my abilities and I won't want to keep changing up my plan and I won't want to over trade as I have a sound system to work with.
I went over a lot of charts last night and I don't remember why but I wrote down USU's 6 month chart as something I liked. It's a pretty bad chart and I don't know why I would of saved it to look back on but I did. I set alerts for the intra day chart. They went off and I started looking at USU. I got in on the ride up to the resistance line and it pulled back and now it looks to have broken that resistance.
I got in at 6.87 and my stop is at 6.65 I noticed already that my new risk management method is going to help a lot in preventing weak stop outs. I've tailored both of these picks around a stop loss point and have adjusted my position size accordingly. I can tell on LOCM I would of been stopped out because I know I would of put a really tight stop under that support line. But I didn't I put it below the action which has kept me in for the time being. Although I don't know if now would be a good time to be actively trading the markets right now.
8.90 looks to be the new resistance line. Also, I'm still long LOCM
Got in on LOCM. I like how it was up pre market and it tested a support level 5 times. I had to get in. Got in at 6.87 with a stop at 6.60 that's in a good stop below the action. That's a 4% decline roughly and I've adjusted my position size accordingly. I'm leveraging the best amount of cash for this particular situation. Green is the support line, black is my stop, purple is more support that I havn't colored yet, haha and the red line at top is resistance.
Wasn't planning on doing much today. Kept an eye on AAPL and saw it's been trading in pretty tightly in this channel and I wanted to see if it could break 167. I did once but the volume wasn't to my liking and it fell. About 10 minutes before the close today it broke above 167 on huge amounts of volume and I just had to buy it.
Got in at 167.10. My stop will be around 162 But I'll keep this in my portfolio for about a week to let it grow.
This one I like as well. It's trying to make new weekly highs. Got in at 11.16 and stop is at 10.85 Green is entry, black is stop, yellow are the support/resistance lines I drew.
I really like this trade. JDSU looks to be breaking out of this channel it's been stuck in for about a week or so. I waited for it to hit 16 which would be the top of the channel and got it at 15.99 I set a stop at 15.65 which is roughly a 2.5% drop and is also a low for the day.
Green line is my entry point. I bought it during that tall white candle and the black line is my stop. I'll hold it until I either get stopped or take a profit where the stock might be turning around. Don't know exactly how I'll determine when I'll get out but I'll know when I'm in the moment.
Bought LDK for my IRA this morning. Got in at 44.50 Time frame for this guy will be 2 weeks at the most. LDk has been up huge for months now and I like how it's pulled back to the mid 40's. It's a good solid stock, I like where it's been and I like where it's going.
I think this might be considered an educated impulse buy, loll. I saw HSOA last night looking over a lot of charts and liked it but didn't setup a plan for it because I needed it to drop a little. Well, it it took off a little in the morning and I got in at 3.79. My stop is at 3.65 (black line) My target is about a 5-7% gain and I'll be holding it until the end of the day.
There is some resistance at 3.84 but after that it's up to the traders.
I bought 300 shares of LUM at 1.75 this morning. It fell to 1.73 and bounced to 1.75 which is a very strong key support level. I wanted to wait for it to test those levels and for the stock to determine the bottom and see how strong those levels really were. Turns out they were very strong and I got in at the strong support level of 1.75 ( blue box represents entry point and purple lines are support/resistance)
It's hitting some resistance right now at around 1.77 which isn't a problem. I think it'll be a good psychological boost if it breaks these levels which could produce nice shot in the air once it peaks these levels.
My exit point is at 1.66. For my system and my plan, this is all I can allow to lose on this trade. I have an alert to go off at 1.70 to let me know the action if I might need to get ready to sell.
My target price is around 1.85 which is a key point for the day. If LUM can get the strength to bust those levels. I think we can see it go higher until around 1.90 which is the next key point of resistence (high of the day).
