This past week was my first week executing the Ultimate Trading System in live market conditions. One good thing about this system is that it should draw you into the strongest stocks right when they are ready to explode higher.
And speaking of exploding higher, social media stock TWTR eclipsed its post-IPO high of 50.09 on Tuesday and moved out into the low 50's. My breakout antennae were twitching overtime and I didn't have to think about it very long before picking up some stock. I held on until later in the week and dumped it on Friday just before it rocketed about 3 points higher. I didn't exactly follow my system on this one, but it was a good trade anyway.
And speaking of good trades, I had another winner with Mastercard (MA) when I picked up a few shares on Monday with the stock in new all-time high territory at 766. Later in the week, it announced a 10 for 1 stock split and a big dividend boost. That was enough to light a fire under the stock and it ripped higher and briefly tagged 800 before closing the week in the upper 780's. After a 10 for 1 stock split this 780 stock will be $78 and becomes a perfect candidate for the 80 to 120 play which means the stock will soon be $100 per share then $120. I've seen it enough times so I'm sticking with MA for now and may add some on a pullback.Not all was positive this week. After a brief pop on Monday, the market pulled back every day this week. I picked up some CELG on a breakout on Monday at about 172 and it quickly went into reverse. I added more at 167 and i'm going to give this one some time and space to work out. I got stopped out of ABC, JOY and IBKR. These setbacks offset some of my winners leaving my account flat to slightly down on the week.
Overall the market seems to be in retreat with signs the the economy is starting to improve and speculation rising that the Fed will reign in its easy money policy early next year. We'll get some clues in the last Fed Meeting of the year which comes up this week. Overall, I'm perfectly happy to stay under-invested in stocks until I see winning situations. In the words of stock operator Dan Zanger - "Stocks are only good when they are going up." Well said Dan-O.
Enjoy your week ahead.
Hey Chris,
ReplyDeleteBeen a long time. I see you are deep into stocks no-a-days. Its that time of the year for me (Christmas Vac), and I tend to have time to catch up on distant friends. I'm still doing the currency trading thing. The only difference is that I don't put much time into it at all, I just let my EA run. Once a year I look at how it is doing and see if I can't tweak it for the better. This year I was not able to devise any new and exciting tweaks for my EA. I am thinking I should not worry about it and just let it run. I kind of wish I could do what you do, but time does not permit me to do so. So my stock trading strategy stands at "accumulate cash, wait for recession, and buy into good companies when I see signs of ending panic and stabilization". My EA is looking like it will pull anywhere from 16% to 20% this year. Not bad, better than my 6% last year. The EA made back all the money, and some, that Daniel's systems lost. So I am pleased with that. I hope my EA continues to perform, its been doing good for the past 3 years (still waiting for one of those 30% years I see in back testing history). At any rate I hope you and your family are doing well, and I hope your trading is making you a decent percentage. Have a Merry Christmas my friend and a Happy and prosperous New Year.
Jamey
Hi JT and thanks for the comment. Great to hear from you again after all these years.
ReplyDeleteThat's awesome that your EA is still making money and that you are profitable in your currency trading. I haven't met a single EA that didn't wipe an account in actual trading, so that's quite an accomplishment.
Merry Christmas to you and your family and a prosperous New Year as well.
Chris
Hey, I thought I would mention this. Not to get you hooked or anything... I found this guy on YouTube, Mack. I am not sure if he is the real deal or not, but I follow him and watch his trading videos every once and awhile. His concepts and trading absolutely amaze me. It makes me wish I could do what he does, (Morning trader, take the rest of the day off). He uses Ninja Trader platform, and it appears he trades some sort of S&P 500, on a 2000 tick chart. He calls what he does scalping as he goes for only a few points per trade, but only risks a point or two. If you search for "PatsTrading" I think you will find his videos. He has a bunch of interesting concepts such as "pullbacks" and "second legs". I thought I would throw that out there for a "Look-See" when you might have some time. He does not give it away for free though as he has a manual for I think $100 bucks(though you can kind of pick up what he does in his videos for free). This does throw a slight bit of doubt, but then again who just gives profitable stuff out for free. I really wish I could do what this guy does. Talk about financial freedom...
ReplyDeleteJust received a cheque for $500.
ReplyDeleteMany times people don't believe me when I tell them about how much you can make filling out paid surveys online...
So I show them a video of myself actually getting paid over $500 for doing paid surveys.