Swing Trading Toronto Stock Exchange Stocks Rules are :
Stock Must have traded above $10 in the last 52 weeks and must currently be trading above $7.00 minimum. (This rule is to allow us to focus on stocks that will be able to give us a $1-5 swing in a period of 5-20 trading days.
We will use a 10 and 20 day 60 minute chart as a means of discussion of entry and exit levels.
Fundamentals discussions about a stock may only be about Cash and asset levels as a price per share and a brief outline of what they do. All other topics of Fundamentals will not be permitted . News items are to be posted as a link only .
We want to focus on trading the chart more than the potential move of a pending announcement. If Chart theory holds true, news will be have already been factored into a move well ahead of the actual release , which means the news event day will not be important to our trading only the Chart.
General Market Direction discussions are welcomed but must be kept to a range of no more than 90 days. 3 months is long enough to forecast a trend . The discussions are to be kept to general market conditions only and not about why one should buy or sell a specific company.
General Market Index Charts are also good for discussion. Example, Dow, Nasdaq, Vix, Spot Gold etc.
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Trading Rules for profit/loss tracking
I will keep track of everybodys trade and post the results before trading the following Monday.
Each buy/cover trade will be activated using the Time stamp of the post and using the highest price during that 1 minute interval .
Each sell/short trade will be activated using the Time stamp of the post and using the lowest price during that 1 minute interval.
each trade will consist of 1000 shares and I will use $25 per trade as cost of transaction.
Example , If you post you want to buy NT at 1PM. I will find the highest trade price during that 1 minute mark and put you down for that price . lets assume that it is $10.60 . I will put you down as having 1000 shares of NT at $10.60 Long, total cost of enrty $10,600 plus commission of $25 = $10625.00
When you sell , I will take the time of the post and use the lowest price during that 1 minute interval and use it to calaculate profit or loss.
Example, if you said Sell NT 2 days later at 11:11 am , I would locate the lowest price available during that timeframe of 11:11:00 to 11:11:59 sec and use that for calculations . Let's assume you got $11.60 /share., Then 1000 NT @ $11.60 is $11,600.00 minus $25 Commision is $11,575.00 total cost of exit or Short .
Total profit/loss is $11,575 - $ 10,625 = $950 profit or 8.9 % profit.
You may go long or Short a trade.
Each trade has a maximum 20 trading day range and must be sold at the close on the 20th day and the result reported at the end of the week in the Profit/loss report.
Each trade will be Stopped out at a loss automatically when the loss exceeds 10% and will be recorded as a loss at the end of the week in your Profit/loss report.
Any stock that falls below the $7 minimum during an active trade will have been deamed to have been sold and recorded as a loss . Stocks that are short above $7 are alowed to maintain the short position until exit point or 20 day rule as it falls below $7.
no more than 1 stock can be active at any one time by an individual and the holding period must reflect that of a Swing trade. Anyone trading a shorter time frame will be requested to join the Canadian daytrading thread.
Subject 23802
The reason for using timestamps as an entry and exit point is to allow all users equal access to this board and equal representation . The report at the end of the week will allow users to track their performance as well as others. Hopefully we can learn from everyone trades and improve our own.
Happy trading and let's have fun.
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This subject is moderated and consistant abusers will be banned. |
