Trading just one stock

qxr1011 · Oct 3, 2002

Hi,

I trade QQQ intraday for a few years.

A lot of advantages, especially no news, no upgrades...

Very liquid.

Don Bright · Oct 3, 2002

Our better traders will have 3or 4 "core" stocks, and bring a wildcard every so often. This makes a lot of sense, since you can become a "surrogate specialist" in the stock.....meaning that you will know all the fundamentals, support, resistance, book value, as well as how it trades on the openings and at the end of the day.

When you "pick stocks" you end up playing in some else's "poker game" which is usually more difficult.

Don

waggie945 · Oct 3, 2002

I love to trade the Defense Stocks, especially LLL and LMT

new2trading · Oct 3, 2002

I trade multiple stocks but enjoy trading KLAC the most. As far as how I trade it.......I am not going to share that with anyone. Not that my method is super secret, as I am sure plenty of others are doing what I am doing. But its working for me so why do anything to risk that it will get fouled-up. Also it may not work for you. I trade mostly Naz stocks in excess of 1 million shares a day. The reason is I like a stock that moves quickly. I like to trade in the morning and then do other stuff. I don't want to wait all day to find out I either made or lost money. Watch a few stocks and keep reading, asking and you will find what works for you.

Carol

trader3 · Oct 3, 2002

Hi Carol,
I am surprised you are trading in excess of 1 million shares a day as you have said you are new to trading a number of times this past month.

Originally posted by new2trading
I trade multiple stocks but enjoy trading KLAC the most. As far as how I trade it.......I am not going to share that with anyone. Not that my method is super secret, as I am sure plenty of others are doing what I am doing. But its working for me so why do anything to risk that it will get fouled-up. Also it may not work for you. I trade mostly Naz stocks in excess of 1 million shares a day. The reason is I like a stock that moves quickly. I like to trade in the morning and then do other stuff. I don't want to wait all day to find out I either made or lost money. Watch a few stocks and keep reading, asking and you will find what works for you. Carol

ksthomsen · Oct 3, 2002

Originally posted by trader3
Hi Carol,
I am surprised you are trading in excess of 1 million shares a day as you have said you are new to trading a number of times this past month.

I think that she is trading stocks that have a daily volumes of more than 1 million shares, not that she is trading that much herself.

Kevin

trader3 · Oct 3, 2002

My mistake.
If that is how it read, I think that is a very good idea. It's important to be able to get out of a trade easily.

I think that she is trading stocks that have a daily volumes of more than 1 million shares, not that she is trading that much herself.

Kevin [/B]

birddog · Oct 3, 2002

I trade cisco all day everyday. I occasionally trade MSFT,KLAC,QLGC,QCOM,AMGN

But 95% of my trades are Cisco. I trade on average 100,000 shares a day of Cisco.

profitz · Oct 3, 2002

Originally posted by Don Bright
Our better traders will have 3or 4 "core" stocks, and bring a wildcard every so often. This makes a lot of sense, since you can become a "surrogate specialist" in the stock.....meaning that you will know all the fundamentals, support, resistance, book value, as well as how it trades on the openings and at the end of the day.

When you "pick stocks" you end up playing in some else's "poker game" which is usually more difficult.

Don

Don,

Can you give an example of some of the core stocks your experienced traders trade?

Also, when brand new traders start at your firm, what stocks to do suggest they start with? Thanks.

new2trading · Oct 3, 2002

In regards to my being new to trading I guess that would depend on perspective. Personally even 10 years from now I will feel as if I am new2trading as this was not my intended profession. Also I learn a ton every day and feel that there will always be something new for me to learn.

In regards to the 1 million shares comment I made. I should have been more clear and said stocks with volume of 1 million shares. I typically trade a mean of about 500 shares per position and trade anywhere from 1-10 positions per day. At times I don't trade at all. Even if I had the capital to trade 1 million shares I wouldn't. Its just not my style. That may sound stupid to some but knowing your limits is a big part of knowing yourself. Greed can ruin you quicker than what most people realize. Don't get me wrong, it would be nice to have enough capital to trade 1 million shares of Berkshire-Hathaway BRK/A or even beas.

My trading plan is quite simple but I have a firm set of rules and guidelines I live by. For me the rules are paramount. almost any reasonable trading plan will work if you set firms rules and employ sound money management principles. My trading plan is so simple if I shared it with you most if not all of you would laugh. Thanks all.

Carol