Hey guys,
I am new here and fairly inexperienced. I am a college student and I manage my own portfolios (regular cash account and roth IRA). I manage a decent amount of money for someone in college...money that I have saved from part time jobs/summer jobs since I was in middle school.
Anyways, I was having decent luck last spring and early summer just tucking money away basically randomly in the market and making a decent return. Then august came...lets just say I sold off some positions...others I weathered the storm and watched them bleed...
I am looking to re position myself in some more fundamentally sound companies-but I still want to maintain some risk if the reward is potentially there.
In doing this I don't want to fall in love with a speculation play, because falling in love was what killed me in some biotech plays...Instead I wan't to try and play the stock (strictly day trading) for the sake of the money to be made and not the company it is.
My dad is a gun guy and he especially likes Ruger, so he bought some of their stock more than a year ago at sub $15 and now it is 30 something. He bought it for the long haul and didn't care about trying to double his money quickly. I admire his patience with the markets and I have learned to really focus on companies fundamentals instead of speculation. However, like I said, I do wan't to maintain some portion of my position to technical based trading and not simply fundamentals.
I am going to start studying this next and see how my strategy works on paper, but please share any opinions with me. I am interested in screening for % gainers on unusual volume. I figure if I see something going up early with volume behind it, I can probably squeeze a percent or two out of it before closing my position. I know this is not an original idea, and if this is something that was guaranteed money, everyone would be doing it. But, I'd still like to hear any thoughts. Thanks,
Card
I am new here and fairly inexperienced. I am a college student and I manage my own portfolios (regular cash account and roth IRA). I manage a decent amount of money for someone in college...money that I have saved from part time jobs/summer jobs since I was in middle school.
Anyways, I was having decent luck last spring and early summer just tucking money away basically randomly in the market and making a decent return. Then august came...lets just say I sold off some positions...others I weathered the storm and watched them bleed...
I am looking to re position myself in some more fundamentally sound companies-but I still want to maintain some risk if the reward is potentially there.
In doing this I don't want to fall in love with a speculation play, because falling in love was what killed me in some biotech plays...Instead I wan't to try and play the stock (strictly day trading) for the sake of the money to be made and not the company it is.
My dad is a gun guy and he especially likes Ruger, so he bought some of their stock more than a year ago at sub $15 and now it is 30 something. He bought it for the long haul and didn't care about trying to double his money quickly. I admire his patience with the markets and I have learned to really focus on companies fundamentals instead of speculation. However, like I said, I do wan't to maintain some portion of my position to technical based trading and not simply fundamentals.
I am going to start studying this next and see how my strategy works on paper, but please share any opinions with me. I am interested in screening for % gainers on unusual volume. I figure if I see something going up early with volume behind it, I can probably squeeze a percent or two out of it before closing my position. I know this is not an original idea, and if this is something that was guaranteed money, everyone would be doing it. But, I'd still like to hear any thoughts. Thanks,
Card