I have always been trading stocks mostly from the banking, solar, and basic materials sectors. My results is only mediocre in the current period as many such stocks are currently trending down along with the general market. There are huge layers of overhead resistance and the gains are limited. In addition, I believe that I am not using the principals of the Ichimoku Clouds correctly in the sense that I tried to look for the bottom instead of shorting or buying stocks that are breaking out of the clouds.
Old habits die hard as I along with most others in the human race, are programmed to look for bargains rather than buying stocks on new highs or shorting stocks making new lows. I have decided to change my trading style to look for the next big potential monster stock breaking out to new high or making swing trades to stocks which are moving back to their 50 day MA after prolonged up moves. These would be the new potential leaders of their respective sector. However, this would mean that I need to move out of my comfort zone to trade these relatively unknown companies. Who knows, they could be the new big names in future.
Those who are familiar with these trading strategies would remember these as preachings from William J. O’Neil’s CANSLIM methods. I first read O’Neil’s ‘How to Make Money In Stocks’ back in 2009. However, for some reason or another, I had always putting off applying this strategy for my own trading as I was a bit lazy to scan through charts for potential stocks. Perhaps the time has come now for a change. These stocks are exhibiting the best charts during these times of turbulence and most, if not all, are trading above the Ichimoku Clouds. There may be instances of failed breakouts but these stocks offered the best chances of monster moves once market stability is back. I am currently stalking these potential stocks.
MITK
SPRD
RGR
DTLK
LQDT
BMY
CF
EXPE
ARCO
Have a great long weekend.
Old habits die hard as I along with most others in the human race, are programmed to look for bargains rather than buying stocks on new highs or shorting stocks making new lows. I have decided to change my trading style to look for the next big potential monster stock breaking out to new high or making swing trades to stocks which are moving back to their 50 day MA after prolonged up moves. These would be the new potential leaders of their respective sector. However, this would mean that I need to move out of my comfort zone to trade these relatively unknown companies. Who knows, they could be the new big names in future.
Those who are familiar with these trading strategies would remember these as preachings from William J. O’Neil’s CANSLIM methods. I first read O’Neil’s ‘How to Make Money In Stocks’ back in 2009. However, for some reason or another, I had always putting off applying this strategy for my own trading as I was a bit lazy to scan through charts for potential stocks. Perhaps the time has come now for a change. These stocks are exhibiting the best charts during these times of turbulence and most, if not all, are trading above the Ichimoku Clouds. There may be instances of failed breakouts but these stocks offered the best chances of monster moves once market stability is back. I am currently stalking these potential stocks.
MITK
SPRD
RGR
DTLK
LQDT
BMY
CF
EXPE
ARCO
Have a great long weekend.
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