Rookie Swing Trader Journal 29 Jun 2021 - What is Japanese Candlestick Doji pattern?

What stocks to buy today from my Moomoo watchlist?

  • Buy TNXP (lower BB) at $1.10
  • Buy PULM (kdj) at $1.00 

How's my purchasing power today?

  • I can buy 2 stocks using Moomoo. 

Any stocks to add to the watch list from the Moomoo Heat List and Market Opportunity KDJ Golden Crossing, Bollinger Band Breakout, Old Duck Head, Yahoo Finance?
  • None

Any tips from TraderTV Live?

Which stock in hand can I sell?
  • ADVM. Bought $4. Stop $3.47. Target $4.40. 
  • METX. Bought $1.60. Stop $1.53. Target $1.90.
  • AAPL. Bought $125. Target $138 or cut at KDJ dead fork. 
  • VISA. Bought $233.27. Target $256 or cut at KDJ dead fork. 
  • ZOM (kdj). Bought $0.84. 

How to track medical biotech stocks, meme stocks, and penny stocks... As well as any popping stock?
  • New strategy using Moomoo.    
  • Started on 7 June 2021. 
  • Scan Trade Heat list to look for 3 signals.
  • 1st signal - Buy on KDJ Golden Crossing
  • 2nd signal - Confirm uptrend with SAR and MA. 
  • 3rd signal - Double confirm with Oversold Analyses. 
  • Complement with Bollinger Band Breakout strategy. 
  • Sell on opposite signals. 
What happened?
  • See above
What worked? Why?
  • Cutting loss before it hits -$100. Why? More capital to buy rising stocks. 
What did not work? Why?
  • Stocks selected are rising too slow. Why? Bought mostly big established stocks like AAPL and VISA.
What did you learn? 

  • What is the Japanese Candlestick Doji Pattern?
  • A Doji occurs when the opening and closing price is the same (or close to it). Many traders think that this candlestick pattern is one of the best ones to trade...
  • ... a Doji is only significant after an extended move to the upside (for a short setup) or an extended move to the downside (for a long setup). Also, the Doji should be at a support or resistance area.
  • Reference: https://www.swing-trade-stocks.com/doji-candlestick-pattern.html
  • Maybe I should go back to look at Yahoo Finance charts. 
What can be done better? 
What will stop you?
How to overcome the challenges?

Until tomorrow. 

~ Rookie Trader 


PS: I would like to thank the following...
Buy Crypto? Binance SG.

Footnote to self:
  • Buy Market price when I see a signal. Don't buy at a Limit price. 
  • Buy on dip from late April to early May 2021.
  • Sell in May and go away. Reinvest in November.
  • August is a particularly strong month, September is an especially bad month for stocks.
  • 10% strategy is not efficient. 5% profit is faster to reach. Hence Change to >$100 target strategy instead. 
  • Buy quickly once I identify a stock to buy.
  • Queue GTD for every buys and sells. 
  • Missed SEAC spike 3 times within a week. Dropped to negative immediately after the spike. Lesson - Queue up to sell using GTD. Forget about using alerts.
  • Premarket moves are irrelevant and distracting. Stop tracking them. 
  • Sell immediately if price spikes on news.
  • Remove emotion from the equation.
  • Sell. Don't hold. Don't be greedy. 
  • Sell when the target is hit. Don't hold. 
  • I need a cut-loss strategy.
  • If I don't sell, I will have no capital to buy. 
  • Locking the profits at hand is better than risking the opposite direction.
  • How to recover from stock market losses? How to recover my money lost? How to win my trading losses back? 
  • The best way to recover after losing money in the stock market is to invest again. 















Comments

Post a Comment

Popular posts from this blog

Do Traders Make More Money Than Investors

Trading has come to a grinding halt. All my disposable capital is stuck in a market that is not moving up. I can't even buy anymore when they are down. I just have to sit and wait for the day COVID-19 vaccine is available.  That's when the market will shoot up. Now I know why traders cut losses. So I guess I am not a trader but an investor. A long term investor... 12-year investor to be exact. The financial crisis seems to come every 12 years.  I don't have much of 12 years left ahead of me. It's time to become a trader. So... Do Traders Make More Money Than Investors? Basically, both will make as much money. The trader makes the money faster, maybe in minutes, but more stressful. They buy to sell. They cut losses. The investor makes the money slower,  up to decades, but more relaxed. They buy to hold. They hold losses and hope. Source:  https://www.quora.com/Who-makes-more-money-traders-or-investors Adrian's Journal The rookie trader
Read more

How Stock Market Software Puts You on the Same Level As Pro Traders

Image
Image via Wikipedia Investing in the market obviously carries a degree of risk for anyone who chooses to invest in it, there's no question about that. If you're experienced at analyzing market data then you typically know how to anticipate the market and have an idea about what is due to be profitable. That's not to say that these traders do not occasionally use a little help, and this comes in the form of computerized stock market software . This technology is now available to the masses thanks to a handful of techies and software designers, so here is what you should know about stock market software so that you can trade like the pros. How stock market software works is that it puts past trend data against real time market data. It makes use of mathematical algorithms which look at the factors which led to successful trends of the past, then apply it to current real time market data to identify similarities to further investigate because the market moves in cycles a
Read more

Exploring the Current Trends in the S&P500: Microsoft and Tesla Stand Out

I browsed through Finviz today and noticed that there are only two pages of S&P500 stocks with buy signals. This caught my attention because it means that most of the stocks in the index are performing well. However, I noticed that there are a couple of exceptions to this trend. First, there's Microsoft (MSFT). The stock is currently trading at $226 per share. It's definitely one to keep an eye on. [DONE] Then there's Tesla (TSLA). This stock is trading at $117 per share. It's definitely worth considering as a potential investment. Overall, it seems like the market is doing well, with only a few exceptions. As a rookie investor, it's always important to keep track of the trends and do your own research before making any decisions.  ~ The Rookie Trader Rookie Stock Trading Strategy - Jan 2023  
Read more