you have to let them set up. look at weekly charts etc.
I think the best thing to do is probably have a list of
companies you like, even the IBD 50 is a good list - then make
daily, weekly, 60 min charts and monitor them, and over time if you
see a good setup on a weekly can consider. The market also
gives you what it gives, you can't just say, well I only want
setups that I can hold for 6 months (we've gotten requests for
that), you can find potential long term setups but depending on how
things work and where your stops have to be you can't just
arbitrarily say I'll stay in for 6 months, you may be able to
and you might also get stopped out in a week. The longer term
setups are also something that maybe you only see a handful of
times a year, maybe every couple months, so one has to be very
patient, which means you can go weeks to months without a new trade
and you have to be okay with that
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looking for single best idea/stock
Posted by trader5 on 21st of Feb 2019 at 11:10 am
looking for single best idea/stock for longer term. anyone ?
you have to let them
Posted by matt on 21st of Feb 2019 at 11:21 am
you have to let them set up. look at weekly charts etc. I think the best thing to do is probably have a list of companies you like, even the IBD 50 is a good list - then make daily, weekly, 60 min charts and monitor them, and over time if you see a good setup on a weekly can consider. The market also gives you what it gives, you can't just say, well I only want setups that I can hold for 6 months (we've gotten requests for that), you can find potential long term setups but depending on how things work and where your stops have to be you can't just arbitrarily say I'll stay in for 6 months, you may be able to and you might also get stopped out in a week. The longer term setups are also something that maybe you only see a handful of times a year, maybe every couple months, so one has to be very patient, which means you can go weeks to months without a new trade and you have to be okay with that