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Brandon,
You've offered up some nice and interesting comments. I am looking forward to hearing more of what you do and how you do it.
I've been daytrading and swing trading for a good while, now, and enjoy swing trading more because it is much less stressful and seems to have fewer things that can go wrong during a trade. For example, I might trade CMGI over a week, but I would prefer to avoid trying to get something out of it in five minutes and hope my ISP connection or broker software doesn't let me down.
Your thoughts on money management are right-on in my opinion. Better to be a good money manager and an average trader than the other way around.
Along those lines, do you incorporate any concern with market timing in your analysis for picking stocks? That is, do you require an "up" market timing signal (perhaps from some software) in order for you to initiate a long position, or, conversely, do you require a market "down" signal in order to open a short position?
Do you get involved with sector and industry group analysis and try to make your picks in specific sectors and groups that are under accumulation or current heavy momentum? Or, do you just select a stock that meets your technical criteria, regardless of it's sector or group?
What about the general and fundamental criteria for the stocks from which you make your picks? Do you use fundamental scans first to get a database from which to run technical scans, for instance? Also, will your stock picks be primarily large caps, mid-caps, small caps, tech stocks, certain sectors/groups, Dow-30, S&P500, N-100, Nasdaq only? Or, will you be looking at stocks from all of these areas?
Finally, do you use any specific technical analysis software for your picks and, if so, will you be sharing that info with us so that we can follow along with your reasoning and learn from the process while taking on the trades you recommend that agree with our own
analysis?
I wish you the best in your endeavor and hope to see lots more of you around this and Ken's site. Incidentally, I haven't seen Ken Wolff's site for several months, but it sure looks to have improved significantly since my last visit. I'm impressed, and optimistic. Good luck!
Bill Dwyer |
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