One Stock Only ?

[yacarob1]

I would like to get some feedback from traders of US Stocks on how many of you follow ( and trade ) just one stock.

Tracking the same stock all day, day in and day out would appear to be boring I guess but it does eliminate the constant flitting around from stock to stock all day and cursing all the missed opportunities that have passed your way.

 

[3tuple]

I believe some people trade just GOOG because of its liquidity!!

I used to trade two or three stocks exclusively a few years ago. It was easier to monitor with my platform at the time and with appropriate position sizing it worked fairly well. Arguably I've gone too far in the other direction with Scanners and Tradestation without too much of an improvement in results. Though it's been more lively!

People who trade futures would a good comparison ...

 

[paternosterboy]

One stock trading

I would like to get some feedback from traders of US Stocks on how many of you follow ( and trade ) just one stock.

Tracking the same stock all day, day in and day out would appear to be boring I guess but it does eliminate the constant flitting around from stock to stock all day and cursing all the missed opportunities that have passed your way.

I trade sandisk on a daily basis - and seldom look elsewhere.
as i only day trade around my day job i do not have the time to focus on news stocks - which i would do if i could.
however trading one stock enables you to really get an insight into its habits and idiosynchrasies.

This stock suits my plays and set ups and habitually shows high probability day moves.
A good long on a Monday if market is positive, bouncing between s&r on tuesday, Up on wednesday with a sell off on Thursday and a reversal on friday afternoon setting up monday. the price action is a dead giveaway with sandisk

It is not an animal like RIMM but when it moves - it provides great opportunities.

Rimm is great when you are on the right side of it but it can be brutal if you are not. sandisk i find less risky.

 

[Mr_Nasdaq]

I trade sandisk on a daily basis - and seldom look elsewhere...
trading one stock enables you to really get an insight into its habits and idiosynchrasies.

I have read these posts with interest and agree that there are advantages in trading only 1 stock and that there are disadvantages in following too many stocks.

I follow SNDK, GOOG and even RIMM plus 50 other popularly traded stocks and ETFs on the basis of areas of Gathering Support (Buy Alerts) and areas of Gathering Resistance (Sell Alerts) which I calculate for each of them every evening in preparation for the next day's trade.

Over 50 stocks is, of course, too many to trade. However, only a few of them trigger an alert within any given day and those are the ones that get a closer look.

Here is my approach:

1) Identifiy areas of Gathering Support (Buy Alerts) and areas of Gathering Resistance (Sell Alerts) each evening in preparation for the next day's trade.

2) Load the Buy and Sell Alerts into the Medved QuoteTracker alert system with the click of one button (the 'Paste from Excel' button on the 'Quick Alerts' Tab of the QuoteTracker).

3) When an alert triggers during the following day's trade, I use QuoteTracker to create a 5-Minute Chart and go from there.

Here are 3 examples of stocks that triggered alerts during last Thursday's trade:
http://www.trade2win.com/boards/showpost.php?p=287640&postcount=102

QuoteTracker is the widely used trading program that was recently purchased by Ameritrade. Best of all, it's free: http://www.quotetracker.com

 

[yacarob1]

It is not an animal like RIMM but when it moves - it provides great opportunities.

Paternosterboy

Why do you describe RIMM as an animal ?

What other stocks would you put in this category ( if any ) and why ?.

 

[damianoakley]

I would like to get some feedback from traders of US Stocks on how many of you follow ( and trade ) just one stock.

Tracking the same stock all day, day in and day out would appear to be boring I guess but it does eliminate the constant flitting around from stock to stock all day and cursing all the missed opportunities that have passed your way.

Hi,

I personally enjoy having the choice of over 10,000 stocks to choose from on the U.S. Stock Market.

Having this choice allows me to select only the very best trading opportunities.

I would feel very limited if I had to wait for just the right opportunities in just one stock only.


Thanks

Damian

 

[Mr_Nasdaq]

GLD - Thursday's Sell Alert

Here is my approach:

1) Identifiy areas of Gathering Support (Buy Alerts) and areas of Gathering Resistance (Sell Alerts) each evening in preparation for the next day's trade.

2) Load the Buy and Sell Alerts into the Medved QuoteTracker alert system with the click of one button (the 'Paste from Excel' button on the 'Quick Alerts' Tab of the QuoteTracker).

3) When an alert triggers during the following day's trade, I use QuoteTracker to create a 5-Minute Chart and go from there....

Traders who correctly calculated the following area of Gathering Resistance (Sell Alert) on Wednesday evening reaped the following profits during Thursday's trade.

Note: Each day's area of Gathering Support and Gathering Resistance is calculated the night before.

 

[paternosterboy]

Rimm

Paternosterboy

Why do you describe RIMM as an animal ?

What other stocks would you put in this category ( if any ) and why ?.

yacorob1 what i mean is that it is one of those stocks where the price can move exceedingly quickly and also sometimes erratically.
look at some of the gaps over the last few years - i would hate to have been on the wrong side of them.
I daytrade only CFD`s on margin - and very specific set ups - you need experience and balls of steel to trade Rimm sometimes.
i don`t know one of similar size that moves so quickly and erratically except perhaps GOOG which has this high volume and liquidity too.

Good Luck

 

[paternosterboy]

Choice

Hi,

I personally enjoy having the choice of over 10,000 stocks to choose from on the U.S. Stock Market.

Having this choice allows me to select only the very best trading opportunities.

I would feel very limited if I had to wait for just the right opportunities in just one stock only.


Thanks

Damian

You are right of course to a point - but one stock trading is all about becoming an expert in one stock - there is seldom trading day goes by where there are not good trading opportunities with GOOG RIMM and SNDK and i am sure that there are experts in all 3 stocks trading them alone on a daily basis - there certainly is with indexes and FX pairs.

There is value in becoming an expert i think - i will let you know when i become one !!

 

[Mr_Nasdaq]

Friday's Buy and Sell Alerts...

Traders who correctly calculated the following areas of Gathering Support (Buy Alerts) and Gathering Resistance (Sell Alert) on Thursday evening reaped the following profits during Friday's trade...

Buy Alerts:

SELL Alert: