Stocks on the watchlist: $WFC, $SAVE, $CCL, $TWTR, $DVAX, $SQ, $SDC, $FLR, $COTY, $GE, $ACB, $CBRL, $AVGO, $CMD, $EVRI, $GPS, $MTN, $RH, $PENN, $TRIP, $YELP, $HAL, $APT
First ten stock picks are by StockDweebs on Twitter. Every Sunday he shares 10 picks for some analysis. All picks are for a long position and expected to play out within a week. First 5 picks are primary picks and the other 5 are secondary picks. StockDweebs primary picks performed really well and stayed green throughout the week. However, when I looked at the charts I didn't see them as tradable. His secondary picks on the other hand didn't perform that well. Two of them stayed red almost everyday. Rest were mixture of green and red days.
Today StockDweebs shared the strategy on how he picks his stocks. Following is the his strategy and a chart illustrating the strategy:
StockDweebs million-dollar strategy:
Indicators:
- 13/21/55 EMA
- 200 MA
- When 200 MA crosses under 12/21/55 EMA = bullish
Trading Setup:
- Only uptrend
- Buy every time price dips to my EMA's and stochastic RSI is under 30.
- Sell whenever trend is broken and wait again
It does look interesting. I will see if I can combine all these indicators on TradingView using PineScript. Maybe use it for my own picks as well.
I had 20 picks for the week. One of them was a short position($APT), which performed really really bad. The price kept going up everyday. Nineteen picks were long positions, some did well, some not so well. Chances of winning or losing were 50/50. I don't think that is good enough.
Going forward, I am planning to narrow down the amount of stocks to focus on. I need some other metrics to filter out more stocks from my initial picks. I think 5-10 stocks a week to watch is more than enough. However, to test any strategy I think more is better. I haven't finished the automating daily results python code yet. I think doing that will lead to more ideas turning strategies to a code and backtesting using historic data from Yahoo Finance.
Read the previous posts:
1. Amateur Trader's Diary - Reentry to the Stock Market
2. Amateur Trader's Diary - Getting Ready for the Trading Week
3. Amateur Trader's Diary - Monday Closing Stock Prices Updated
4. Amateur Trader's Diary - Story of Cobalt International Energy
5. Amateur Trader's Diary - Tuesday Updates & Automating with Python
Posted Using LeoFinance
Hello @geekgirl, well like you said 50/50 isn't good enough and well like you said maybe narrowing down your stock will give you more chance to focus and concentrate more on the 5 to 10 you're going to be picking really. However would you rather say the week wasn't so good?
@tipu curate
Upvoted 👌 (Mana: 5/10)
Does stock trading open on Saturday and Sunday or are the prices on Sunday is brought from previous Friday?
Saturday & Sundays stock market is closed. Sunday column just represents Friday closing prices and rest of the week prices compared to that price.
Thank you, I already know that was the case and I am just wondering if it has changed. In my opinion there is no good reason for it to be closed on weekends, most trading are handled by bots anyway. Crypto trading are open every single day too.
I have been doing some trades with cryptos and even though they are both well and bad (few times) it's kind of effecting me in terms of sleeping 😏
While all the best next week! & probably shorten the list little more, to see some productive result would be more effective !!
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