[CRAZY STUFF]
I watched quite a lot of videos last night on technical analysis - mostly from informedtrades.com and alphatrades.net. They were very interesting and insightful, and at the moment I'm a little shocked at my earlier trading tactics. From now on I will definately be mostly technical analysis with only a little fundamentals. The tutorials I watched more specifically were MACD, RSI, Bollinger Bands, Parabolic SAR with a few also on trend spotting and moving averages.
The guy from informed trades recommends a program called ProRealTime, which is an analysis suite which you can use for free with end of day data. The charting is a lot better on this than at iii or on QuoteStream so I'll scan these at the end of day looking for some signals.
Anyway, I have a look through last night and tried to put what I had learned into practice and picked out 5 stocks that stood out more than the others. They were SHI, BLT, CHTR, VPC and INVP. SHI and CHTR looked like they were in for a fall, so I thought that I'd watch for a drop in those today. I will start to CFD stocks going down as for me it's easier to see potential downward movement rather than upward.
INVP, VPC and BLT looked like they were in for some bullish behaviour this morning. VPC in particular looked quite good as it crossed all but one box on my criteria - the MA. Anyway here they are at the moment:
SHI -2.15%
CHTR -1.22%
BLT +1.64%
VPC +1.51%
INVP -0.72%
INVP had some decent movement up at the start but it's looking weak so my analysis didn't work for that so obviously some more work needed. I'm pleased with how the other 4 look and I'm looking for some continuation on those tomorrow.
I applied the same analysis to my portfolio of DES, SEY, IEC, RWA and SEO. I bought IEC yesterday after it dropped 25% - which I thought was a little overdone. It's up around 4% today so far so hopefully it's a gap closer and I can make a decent short term profit.
2 stocks on the list were decent enough to look at: SEY and RWA. SEY looked had some strong signals for a reversal, and it's up 10% today. RWA looks pretty bad I must admit, and it's declined steady throughout today to -5.81%. I will be out if it breaks -6.5%, but I would like to see what happens with it, as "the trend is your friend" and generally speaking this is in a good but slow upwards trend and has been for quite a while after a big drop earlier in the year.
Brokerage fees are my main nemesis at the moment, and I'm looking to cut down on them. I think I will group my cash together after I exit some trades and trade off that, instead of having fewer and smaller holdings. Also, by spotting potential reversals for downward movement, I might start trialing CFDs on paper with a view to using them later in the year.
The guy from informed trades recommends a program called ProRealTime, which is an analysis suite which you can use for free with end of day data. The charting is a lot better on this than at iii or on QuoteStream so I'll scan these at the end of day looking for some signals.
Anyway, I have a look through last night and tried to put what I had learned into practice and picked out 5 stocks that stood out more than the others. They were SHI, BLT, CHTR, VPC and INVP. SHI and CHTR looked like they were in for a fall, so I thought that I'd watch for a drop in those today. I will start to CFD stocks going down as for me it's easier to see potential downward movement rather than upward.
INVP, VPC and BLT looked like they were in for some bullish behaviour this morning. VPC in particular looked quite good as it crossed all but one box on my criteria - the MA. Anyway here they are at the moment:
SHI -2.15%
CHTR -1.22%
BLT +1.64%
VPC +1.51%
INVP -0.72%
INVP had some decent movement up at the start but it's looking weak so my analysis didn't work for that so obviously some more work needed. I'm pleased with how the other 4 look and I'm looking for some continuation on those tomorrow.
I applied the same analysis to my portfolio of DES, SEY, IEC, RWA and SEO. I bought IEC yesterday after it dropped 25% - which I thought was a little overdone. It's up around 4% today so far so hopefully it's a gap closer and I can make a decent short term profit.
2 stocks on the list were decent enough to look at: SEY and RWA. SEY looked had some strong signals for a reversal, and it's up 10% today. RWA looks pretty bad I must admit, and it's declined steady throughout today to -5.81%. I will be out if it breaks -6.5%, but I would like to see what happens with it, as "the trend is your friend" and generally speaking this is in a good but slow upwards trend and has been for quite a while after a big drop earlier in the year.
Brokerage fees are my main nemesis at the moment, and I'm looking to cut down on them. I think I will group my cash together after I exit some trades and trade off that, instead of having fewer and smaller holdings. Also, by spotting potential reversals for downward movement, I might start trialing CFDs on paper with a view to using them later in the year.
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