Welcome to my Therapy

 

 

 

 

 

AUG

SEPTEMBER 2009

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STOCK RULES

 

 

MALCOLM'S RULES

 FOR TRYING TO MAKE MAKE MONEY IN DAY TRADING

(SO THAT MALCOLM DOESN'T FORGET THEM)

WILL BE ADJUSTED DEPENDING ON WHAT WORKS

WHAT STOCK

1

THE  STOCK SHOULD BE RISING OVER A MONTH, NOT VITAL BUT MORE LIKELY TO PRODUCE

2

THE STOCK SHOULD HAVE DAILY VOLATILITY, THE WIDER THE BETTER

3

CHECK US MARKETS BEFORE AND AFTER FIGURE TO HAVE AN IDEA OF THE DIRECTION

4

CHECK PREMARKET BIDS AND ASKS

5

READ RELEVANT NEWS FOR STOCK FOR NO SURPRISES

6

DETERMINE SUPPORT AND RESISTANCE LEVELS

7

ENSURE THE STOCK IS LIQUID ENOUGH TO BE ABLE TO SUPPORT YOUR BUY

8

PICK DOMESTIC STOCKS, OR YOUR INTO FOREX TRADING AS WELL, WHICH IS TOO COMPLICATED FOR ME

9

LOOK FOR BOUNCE, UNLESS NEWS SAYS OTHERWISE AND THE MARKET IS GOING IN ANOTHER DIRECTION

 

BUY

1

HOPE TO GET LUCKY FIRST, SET A BUY ON STOP ORDER FOR A VERY LOW PRICE AND HOPE VOLATILITY CATCHES IT

2

 IGNORE PRICES BEFORE 9:50AM, STOCK WILL START TO RISE BETWEEN 9:50 AND 10:06, UNLESS ITS GOING TO BE A REALLY BAD DAY (NOT WRITTEN IN STONE)

3

BUY AT THE PRICE YOU SET, NEVER THE MARKET

4

DON'T DIVERSIFY TOO MUCH, YOU WILL PAY MORE FEES AND LOSE FOCUS, MORE OF ONE STOCK IS RISKIER BUT MORE PROFITABLE (BUT MORE RISKIER)

5

BOUNCE WILL HAPPEN

6

COUNT THE DAYS: A STOCK WILL RISE FOR 2, OR 3, BUT RARELY 4 BEFORE SOMEONE WANTS THE PROFIT

 

SELL

1

 AFTER THE STOCK IS BOUGHT SET A SAFETY NET TO PROTECT AGAINST EXCESSIVE LOSSES USING A   SELL ON STOP LOWER THAN KNOWN SUPPORT LEVELS. NOT SO HIGH THAT THE STOCK WILL SELL DURING NORMAL FLUCTUATIONS. IT CAN BE RAISED LATER ON, EVEN FOLLOWING THE STOCK RISING

2

SET A TARGET, HIGH, EARLY IN THE DAY, ADJUST AS THE DAY GOES ON

3

LOOK FOR WHERE STOCK MEETS RESISTANCE, IN THE AFTERNOON SET A PRICE JUST UNDER THOSE POINTS, LATE IN THE DAY ADJUST TO MEET THE BEST PRICE

4

A STOCK SHOULD ALWAYS BE FOR SALE AT A PRICE YOU DECIDE NOT THE MARKET.

COUNT MONEY SLIT WRISTS START AGAIN

my favourites

Agu / TD / Rim /

Asian Growth Mutual Funds