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Rank: Advanced Member
Joined: 6/15/2008 Posts: 216
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I am Stockman and Finviz has become my main site for day trading. It took me several weeks to learn all the features and almost every day, I think of new variations to find stocks that have the best price appreciation. My returns on my money have increased tremendously and I am willing to share my best ideas. I would also like to hear other success stories on using this site to make money so that I can add to my returns as well as increase yours.
My first suggestion after you have registered on the main page, is to go to "screener", go to industry and pull down "Agricultural Chemicals" which includes fertilizers, go to "save as portfolio" and answer yes to the $100,000 portfolio, name the portfolio as Agricultural Ch.... on the top right and save on the bottom left. After you have saved, you will see the portfolio. Go to "open in screener", go to performance and sort by month by hitting the month tab until they are all green. You should see seven stocks that are up an average of 15% for the month as I write this. This site has allowed me to invest in only double digit return stocks like these.
I don't work for Finvin and I only can speak highly of this site because of the money I am making. I am not here to brag, but to give you investment tips and the only thing I want is similar ideas from you. My motto is "more money, faster". I will give you many more if there is interest and I get the feedback on other stocks or categories to buy. I wish all of you, more money faster.
You can also see more examples of my style and other comments and questions in the "Stock Tips" section under the same title as this one.
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Rank: Newbie
Joined: 6/16/2008 Posts: 1 Location: Los Angeles
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Thank you Stockman for sharing the strategy. I am a newbie and hope to learn more from you and others.
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Rank: Guest
Joined: 6/11/2008 Posts: 79
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Hi, thanks for the tip. right now what i do is a ´top-gainers´scan looking for pull-backs to swing trade or a break out from a head and shoulders , dobble bottom, etc. I am a newbie to trading in real life but I am a certified financial technician from IFTA (yes i did the exam before real money trading) right now i dont have enough cash since I am 23 , but i am working to get a good capital, jobs sucks, but trading is very hard if you dont control yourself, WHICH other scans do you guys use?
thanks
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Rank: Guest
Joined: 6/11/2008 Posts: 79
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Stockman - what portfolio allocation do you set for each position? Do you use stops and how do you set them? What is your holding period? What is your max risk, drawdown, etc?
Its no problem finding buy candidates. The tough part is managing the position and most importantly - risk.
You may have an excellent system that answers all those questions, but until you share those points you might rename your topic "Suggestions to spend more money, faster."
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Rank: Advanced Member
Joined: 6/15/2008 Posts: 216
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I initially buy $3000 of a new stock and attempt to find high momentum stocks that have a minimum 10% gain for the week before I buy and they usually must be over resistance. I don't wait for a pull back because I want to jump on the fast moving stocks going up. If they start going down right away, I sell because I do not allow losses. My goal is to be up 15% within a week and then I double the ownership to $6,000. If it goes to that percent within a few days, I increase the ownership to $10,000. Every night, I review the high ownership stocks at $6,000 or over and put stops approximately $3-4 dollars under close. On the $3,000 stocks, I sell during the day if they are going down too fast. My goal is more money, faster so if a stock isn't going up fast enough I sell because I am losing time and want to put it in a faster money making stock. I keep track of my buys and sells so I always have enough money for tomorrow. If you look at my portfolio, I have no losses or small ones on newly purchased ones that I am giving a few days to prove that I made the right choice to buy.
Finviz has dramatically increased my returns as I became more familiar with the site and found more ways to find the best upward moving stocks. I am constantly searching the site for new candidates. New high stocks are scattered in my portfolio because I review the list constantly looking for the right categories and graph that show movement over resistance. I am not concerned that they have moved too high, too fast like other investors because that is what I want. If I sell a stock, I still watch it to see if it starts going up again. If a stock that has made me a lot of money starts to consolidate and stays at the same price range for a few days, I sell to put it into a stock that is moving higher.
I watch Fast Money every night because they give information on broad changes where one category may be dropping and another becoming important. I use Finviz to find the top price appreciation stocks in that category and buy the next day. I rarely use their suggested stocks because they are not moving fast enough for me. I didn't learn this form of investing in a book, but developed it after finding this site that provides incredible detailed information. The results of this "hunger" for more money, faster has completely astounded me. If you don't believe that my results have been very large, you missed the point of what you just read. I am showing my friends that have jobs, the Finviz site and my best ways to search and build portfolios so they can do the same as I am doing in the evening after dinner. I want them to get the same results or better and asking them to find more ways to use the site to make more money.
If I didn't answer your question enough, let me know and I will answer.
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Rank: Guest
Joined: 6/11/2008 Posts: 79
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You mentioned that you put a stop about $2-$3 dollars for a stop loss. Would a percentage work better or just fixed dollar amount for the stop regardless of the stock price. What are all the different ways you are able to locate potential stock plays besides the agricultural stocks?
thanks BN
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Rank: Advanced Member
Joined: 6/15/2008 Posts: 216
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I use a dollar amount because I hate losing money and I own many high priced stocks. Ten percent on a $150 stock is too much to lose when you own 50 or 100 shares. Principal preservation has to be the number one goal in investing. I get frustrated when they sell off and go higher, but I limit my losses and buy back if they keep going higher. Momentum stocks usually go higher so the only sell stops that happen are occasional.
I have spent countless hours poring over Finviz and have many ways to find fast moving stocks. Here is one:
-review basic materials under sector and go to performance and sort the best for the week and the month by hitting the top of the column until they are all green. Many of these are oil and coal. Oil stocks may go down as the price of oil goes down, but look at the graph for the ones that have broken over resistance. If they bounce off resistance and go down, it is a watch and not a buy. Look at cwei on a daily chart and weekly chart and you will see that it has gone up for 14 weeks in a row without regard to the price of oil or the market turning down. I have owned this and many oil and coal stocks for many weeks so my returns show this kind of curve.
The power of this site to make money is unlimited because as the market has gone down, the stocks you are looking at are going up with double digit gains. Look at jrcc. I have owned this for several months. By the time you read this, they may have gone down and most likely I sold them and moved to other stocks that show the same graph to the sky.
May we all make money faster.
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Rank: Guest
Joined: 6/11/2008 Posts: 79
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From what you describe you are employing a high-risk momentum strategy. I dont doubt that its working for you now considering the parabolic moves in sectors like oil and ags. If youve developed it since finding this site, it is also a very new strategy - realize it will not always work - no strategy does. In fact, when trends like these do end it can get ugly for momentum traders.
When do you sell your winners?
You give dollar amounts for your positions yet that does not tell the percentage of your portfolio you put at risk/position. Are you always 100% invested?
Are you using hard stops or mental stops? What do you do when a stock jumps your stop?
Are you trading full time and managing your position thruout the day?
I point these things out because I see more and more poeple describing themselves as newbies looking for advice and they need to know what they are looking at, and what questions to ask.
Early success is sometimes the worst thing that can happen to a new trader.
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Rank: Advanced Member
Joined: 6/15/2008 Posts: 216
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D,
I have been waiting for a person like you to ask me some tough questions because I know that success in the market can be fleeting and you can get your head handed to you overnight. I am an experienced trader that has been around a long time and trading for many years. I took a beating in 2000 with everyone else and believe that I am protecting myself from the disaster of momentum trading reversing. Please tell me if you see a problem in my answers to your questions.
I sell winners only when they reverse and go down by $3 to $4 using stops that I put in the system in the evening while studying the price action for the day and previous week so I have many huge positions that have increased 30-40%. As I stated in an earlier note, I double or triple ownership on double digit gains, but I slow down the additional buys when the dollar ownership and gain become too large. Jrcc was an exception because it was going up 5% a day for several weeks so I kept buying more and with the gains, the ownership became disturbing to me. Greed is good if it is under control and it all sold last week including other coal and oil stocks. Now I sit here today with all of many of my momentum stocks sold and going up today without me, but I protected the gains and the principal. My funds won't be available until tomorrow.I am up today an unbelievable 3.2% without many of my best money making stocks and the market is even.I decided that it would be better to stop half the ownership at one price and the other half in the system at a lower price. All stops are in the system except the $3000 stocks which I watch during the day and it has become like a job to me to be on the computer since being able to retire early on previous investing. No stops have jumped.
I just looked at my gain for the day and changed the gain above to a higher number twice. I have stocks in other categories that I found with Finvin and they are doing well today along with coal and oil. The power of this web site has given me now a 23% gain in seven weeks and my financial adviser keeps telling me not to become too confident and take chances. I have both my feet planted on the ground and know this could all reverse later today or tomorrow. If I told you the dollar gains and losses by day, you wouldn't believe the numbers because we all know that a 3% gain can turn into a 5% loss in a heartbeat. D, I need you to tell me from your obvious knowledge and experience what I am not taking into account so I can protect this fast growing sum of money. I look forward to your comments and you can't hurt my feelings because there is too much at stake here. I have absolutely never been close to these kind of returns and I don't want to blow it.
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Rank: Guest
Joined: 6/11/2008 Posts: 79
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Stockman
I would like to know what charting you use. Do you use the one here at Finviz? Where and how do you determine the resistance level? Are you talking about the purple line on Finviz daily technical charts? Do you put in an order contingent on whether the stock hits a price like the resistance or do you watch & trade as a day trader on live charts, etc.
I personally like to trade calendar spreads using options, but with the returns you're getting, I want to try out this strategy.
Thanks in advance
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