There are a TON of financial sites. Most sites are not so prone in giving away information. There are membership fees, new platforms you got to learn how to use; and than the trading strategies. If you are a novice with less than a year or just learning, you will receive all the BAD advise via the news, web blogs, and analyst upgrades and downgrades. If you have some experience, than this will make you a BETTER stock picker / investor.
Should start on a Sunday night. Open yahoo financial account. It is easier to start tracking on a Monday but not necessary. Make a new portfolio.
Name one Portfolio Ishares and add the international and emerging markets ETFs. Don't add the European or US. (we're in a bear market for the 3/4 of 08 so we focus on what's moving) Make sure to add the commodities and both telecom ETFs. Add the US financial and the real estate. You will use this portfolio as a watch list.
Create another portfolio. Call it My Holdings (week one). Here you will monitor your bets for the 3 months. Initially, if you're not familiar with the ETFs, you'll have to spend some time in obtaining your first 5 ETFs. Use ETFs to give you more exposure in the sector rather than betting on one company. Trading company stock involves more risk etc.. (We are doing this to obtain long investment ideas)
When you have chosen your 5 ETFs, place them into your portfolio with the date and the price at the opening of that day. make it so you own 1 share of each. We measure percentage gains and losses. You will hold these for a week.
On the following Sunday, see how your investments did. Did they rise, fall, rise than fell in the middle of the week?
Go into Barchart.com and click on sectors. There you'll see the top performing sectors for the last week, months, 6 months; this is the good part.
Create another portfolio,(my holding week 2) add 2 of your best ETF for week one; 2 of the best sectors in barcharts for the last 3 months; and 1 of the best performing (large cap) stock, in the best performing sector.
Repeat the process until you are left with 4 (large Cap) stocks and one ETF. Doing this you have eliminating 99% of what Doesn't work or what is not hot (for that week). Out of the five, one should be precious metals or commodities (ETF or stock). Trade one at a time or invest in the ETFs. Never buy out of emotion or think that "I have to buy now before it goes up." We buy at support. Never try to pick a bottom. Never enter a stock without an exit price. Never hold a stock over the week end. (unless you are investing) All you need to do is wait for a big pullback on LOW volume and buy 25-50% of the shares you want to own. Place a sell limit at your exit price and a buy limit 5-10% below your initial buy with a Stop. Now, if the stock falls 2% lower from your second purchase. Sell it and short it with everything you sold it for. Short it down to the next support (see chart pattern in case of breakdown, it might just be a spike down, in which case thats good. If its making a bearish pattern, get out quick and hold the short for profit). If you get back to even on the trade and you can choose to Buy the stock at a cheaper price than your initial purchase. By following through the 3 months, you shouldn't have loses.
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