Elliot wave... correct?

Zavoli1991

Newbie
3 0
Hello

I am starting to learn about swing trading as I think that this style of trade will be the most appropriate for me. After losing a lot of money, thankfully on a demo account, I have realised that I need a plan :D big time.

So before I started to think about position sizes ect I went back to the charting board and actually tried to learn how to read a chart, before trading based on the pretty colours and lines.

I have been using this link and fount it very helpful:
http://www.swing-trade-stocks.com/swing-trading-basics.html
(External websites disclaimer, blah blah...)

I have attached an image and a questionnaire I have filled out, admittedly I do not know if some of the things I have written are correct, hence this post.

I am looking mainly at the first pullback, however I am aware that the chart shows a stock probably at the end of an uptrend. I would not currently buy I would wait for better signals as to the direction of the stock. I would have brought the first pullback, probably, but ain't that just hindsight? :D

My questions are:
Am I in the ball park? As in is what I have written ok? (I am aware of differing opinions ect so ofc there will be different views.

With a 1k account should I use a margin account? and if so what should my position size be? With about 3% risk.

Admittedly I need to learn more about risk/reward and the actual trading side, I am just first trying to walk before I run.

I appreciate the time anybody has to spend on this.

Many thanks,
Matt
:clover::clover::clover: Maybe these will help o.0
 

Attachments

  • daily of AA on 03.02.14.jpg
    daily of AA on 03.02.14.jpg
    169.8 KB · Views: 164
  • questions.pdf
    166 KB · Views: 163
 
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