Position trading stocks

This is a discussion on Position trading stocks within the Trading Journals forums, part of the Reception category; Hey guys, long time member and lurker here. I have some funds , but want a proper forward test of ...

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Old Apr 21, 2017, 11:53pm   #1
Joined May 2010
Position trading stocks

Hey guys, long time member and lurker here.

I have some funds , but want a proper forward test of my method I've slowly been developing over the years . Essentially I am looking for strong trending stocks on their weekly charts, waiting for a base breakout and buying a very small pullback , and using a mechanical Ema strategy for the exit .

The aim is to beat bank interest . Here goes . I am going to risk 1% per trade, with a maximum of 5 trades open at once .
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Old Apr 21, 2017, 11:58pm   #2
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Chartsy started this thread Here goes :
Trade 1 : buy limit TTWO at 61, stop 57.5
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Old Apr 22, 2017, 12:01am   #3
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Chartsy started this thread Trade 2: buy limit BFAM 73, stop loss 70.50
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Last edited by Chartsy; Apr 22, 2017 at 7:24am.
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Old Apr 22, 2017, 12:05am   #4
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Chartsy started this thread Trade 3 : buy limit CII 74.40, stop loss 74.05
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Old Apr 22, 2017, 12:08am   #5
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Chartsy started this thread Trade 4: buy limit FBNK 25.10, stop loss 23.85
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Old Apr 22, 2017, 12:10am   #6
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Chartsy started this thread And trade 5:
Buy MASI at opening price on Monday , stop loss 92.65
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Last edited by Chartsy; Apr 22, 2017 at 12:24am.
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Old Apr 22, 2017, 12:11am   #7
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Chartsy started this thread That's this weeks trades . Each with 1% risk. Let's see if we can get some runners here
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Old Apr 22, 2017, 10:57am   #8
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Nice, how do you pick your stocks? Do you use indicators to filter?

Cheers
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Old Apr 22, 2017, 3:47pm   #9
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Originally Posted by gotu View Post
Nice, how do you pick your stocks? Do you use indicators to filter?

Cheers
Hey, I use two very short term EMAs for entry and exit , other than that it's just a matter of flicking through a couple thousand charts and finding those few which look good !
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Old Apr 22, 2017, 10:16pm   #10
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Nice, the charts look like they are in pretty strong up trends and buying certainly seems like the best strategy.

Do you take into account the companies fundamentals at all?

I was asking how you pick your stocks because I have been thinking for some time of using indicators to filter out stocks that are showing the right setups, for instance in your case strong uptrend and range breakout. I haven't had the time to study this but I think I will eventually. The idea of manually going through thousands of charts to find which "look good" sounds very time consuming.

In any case it seems like you are choosing some good candidates, I will be following this thread

Cheers
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Old Apr 24, 2017, 4:22pm   #11
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Chartsy started this thread
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Originally Posted by gotu View Post
Nice, the charts look like they are in pretty strong up trends and buying certainly seems like the best strategy.

Do you take into account the companies fundamentals at all?

I was asking how you pick your stocks because I have been thinking for some time of using indicators to filter out stocks that are showing the right setups, for instance in your case strong uptrend and range breakout. I haven't had the time to study this but I think I will eventually. The idea of manually going through thousands of charts to find which "look good" sounds very time consuming.

In any case it seems like you are choosing some good candidates, I will be following this thread

Cheers
Hey in future I am going to try and implement fundamentals. It just add an extra layer of confluence to trades to buy into good companies. Yeh that's correct, a range breakout in a strong uptrend. Might I add that I only look for very 'tight' ranges/flags and preferably very flat (a strong bid in the market in other words).

For the time being though, i'm getting a hang of the timing and technical side of stock trades. One other thing I look for is a weekly close above a range (not merely placing a buy stop a few ticks above the high). Sure, this means I get in higher but protects me from fakeouts to a certain degree.

As for screening, when I actually get my finger out and get some good software I will play around with it unti l find stocks that hit the spot. Mechanically speaking, probably a high ADX reading with a recent drop in ATR might do the trick, along with fundamental screening too.
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Old Apr 24, 2017, 4:24pm   #12
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Chartsy started this thread 4/5 of the stocks so far have taken off without filling my limit order. I will wait to see how the week closes out. I got 'filled' on MASI at today's open price, which was 98.68, but let's assume slight slippage so a fill of 98.72.

The strategy sometimes involves a trailing entry, but it just depends on how far the breakout travels, too far and i'll pull the limit order out .
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Old May 2, 2017, 9:41am   #13
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Chartsy started this thread cancelling limit orders on all the trades not filled. So only trade currently in action is long MASI, currently up just under 1R
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Old May 5, 2017, 9:17pm   #14
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Chartsy started this thread got fisted on MASI, -1%
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Old May 7, 2017, 10:30pm   #15
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Chartsy started this thread New orders for this week (will post picture if trade gets triggered):
Buy limit NFLX 153.80, stop 147.
Buy limit SNPS 74.28, stop 72
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