Hi,
Having followed a number of other peoples journals with interest, I thought I would start a journal of my own, with the aims of helping my discipline and also learning from any discussions that may arise.
My background
I have a full time job, hence I trade medium term timeframes (1-3 months position duration typically), really only being able to check positions at lunchtime and before the close.
2009: I played with some demo accounts, did loads of research/reading and learned my way.
2010: I traded a live "micro" size account, refining my methods as the year progressed. I was pleased to grow my account by 130%.
My Methods
I learned a lot from reading the NakedTrader first book, on methods for trading stocks medium term using fundamental and technical analysis. I also use methods developed by Stan Weinstein (Profiting in a Bull and Bear Market), where he uses pure technical analysis methods for medium/long term trading/investing. So from this research I have developed my own methods that:
- Buy strong stocks in strong sectors that are in stage 2 continuation setups. Thus typically buying high or in a dip from a high and selling higher (with a bit of luck!).
- I always analyse the stocks fundamentals as per NakedTrader guidance, for growing dividend, revenue/profits, manageable net-debt, good outlook etc..
- Use Volume as an indicator on buying strength, as per Stan Weinstein's book.
- Use a slow stochastic as an indicator for entry timing.
- I always trade with the main market trend, as I determine from 30WMA, adv/dec indicator analysis, as per Stan Weinstein's book.
- I've developed my own scanning software that does a lot of the initial weeding out to give me a shortlist of stocks to manually investigate.
How I will run the journal
- I am trading still a relatively small account of £1000 at the start of 2011 (currently down a bit from that as we talk...:-()
- I will post my entry/exits when I make them, with a brief analysis of reasons.
- End of each week I will post an account/position status overview.
Having followed a number of other peoples journals with interest, I thought I would start a journal of my own, with the aims of helping my discipline and also learning from any discussions that may arise.
My background
I have a full time job, hence I trade medium term timeframes (1-3 months position duration typically), really only being able to check positions at lunchtime and before the close.
2009: I played with some demo accounts, did loads of research/reading and learned my way.
2010: I traded a live "micro" size account, refining my methods as the year progressed. I was pleased to grow my account by 130%.
My Methods
I learned a lot from reading the NakedTrader first book, on methods for trading stocks medium term using fundamental and technical analysis. I also use methods developed by Stan Weinstein (Profiting in a Bull and Bear Market), where he uses pure technical analysis methods for medium/long term trading/investing. So from this research I have developed my own methods that:
- Buy strong stocks in strong sectors that are in stage 2 continuation setups. Thus typically buying high or in a dip from a high and selling higher (with a bit of luck!).
- I always analyse the stocks fundamentals as per NakedTrader guidance, for growing dividend, revenue/profits, manageable net-debt, good outlook etc..
- Use Volume as an indicator on buying strength, as per Stan Weinstein's book.
- Use a slow stochastic as an indicator for entry timing.
- I always trade with the main market trend, as I determine from 30WMA, adv/dec indicator analysis, as per Stan Weinstein's book.
- I've developed my own scanning software that does a lot of the initial weeding out to give me a shortlist of stocks to manually investigate.
How I will run the journal
- I am trading still a relatively small account of £1000 at the start of 2011 (currently down a bit from that as we talk...:-()
- I will post my entry/exits when I make them, with a brief analysis of reasons.
- End of each week I will post an account/position status overview.