How I Use Twitter + Something New

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I really like twitter.  I knew I would.  I studied it for a few years before joining.  Once I began tweeting, I was certain it would become a big part of my life online.

I am however cognizant of the noise. In all my years following stocks, my biggest pet peeve had become people touting their wins, while at the same time shuffling their losses underneath the rug.  So I made a pact to do neither.

Instead, I simply share my ideas.  Once a stock starts moving, I leave it for others to pump discuss. I’m not going to celebrate winners with exclamation points & sky high expectations, nor will I whine about or lament a loser. For instance, updated charts after a stock has moved.. cui bono? —there’s no value in these other than to support one’s ego / marketing agenda.

I’d rather offer up a new idea.

Of course, there’s an expectation that the reader should always make his or her own decision. It’s your money. It is not important what I’m doing.  What matters is: do you like a particular setup?  Can you define tolerable risk? Create your own plan & capitalize on it.

Due to my steadfast belief in autonomy, I’ve rarely felt the need to provide a disclaimer.

★★★★★

If you’ve been following me for awhile, you have probably noticed that I’m capable of churning out a ton of suggestions.  I wanted to come up with a way to emphasize some of my favorites. I’ll only share with you the things that I believe look good, but occasionally they seem fantastic. How to differentiate?

I’m going to try something new over the next few weeks.  When you see stars in a tweet of mine, these are the setups I’m focused most intently upon.  Not everything will be rated, but five stars will be best, & I promise to use this designation sparingly.

As always, thank you for your interest in my work.

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$GTRQ Geotraq Inc. 14¢

Attractive pennystock, nearing breakout.

“GeoTraq is leading a revolution in the personal tracking industry by using Cell-ID with all its inherent advantages over GPS to provide solutions for a great variety of tracking applications. GeoTraq is developing and marketing one of the world’s smallest, least expensive and most user-friendly personal tracking devices with the longest battery life in the world. This patent pending module is easily adaptable for many different applications making GeoTraq the “one-stop-shop” for custom tracking solutions.Our proprietary technology is based on Cellular Triangulation is a process by which the location of a radio transmitter can be determined by measuring either the radial distance, or the direction, of the received signal from two or three different points.”

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Hump Day Soirée

Coming up on Wednesday of this week, two of twitter’s finest market cognescenti, @stt2318 and @sandman7591, will present themselves in an open forum Q&A chat session. I encourage everyone to come for a visit. Bring questions about swing trading strategy, or even individual stocks. Maybe you have a chart you think is ready to burst? Let’s discuss it and build a watchlist together.

The webinar begins at 7pm EST, but since the venue is the same place as our intraday chat, we’re opting to open it up all day. Things usually get going a couple of hours before the morning bell. Join us if you can and lurk only if you wish. That’s okay too.

Click here to confab: http://bit.ly/2318chat

This is going to be a fun day with about 100 people in attendance. Hope you can make it!

(The room will be password protected until Wednesday. If you want to join us earlier in the week, include your email address in a comment below, or hit me up on twitter @chartseer, and I will reply in a direct message with the key.)

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Mid-October Watchlist

CLNT potential for $9 on close over $6

COWN watching above $3.6

DDS short setup below $76

DGLY fundamental story can’t be ignored

LIOX bumping resistance

MITK 26% of float is sold short

NUAN lame bounce, watch for weakness through $18

OCR blue sky up here

TCX must watch this week, probably my favorite look right now

TROX bottom of bull flag

UNIS new from long scan

WSTL flagging nicely

WWW breakout watch

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How To Eliminate Emotion From Trading

Early this year I began trading with a prop firm.  My focus is intraday scalps on volume laden movers. Here are the rules I’ve since enacted.  Some are newer than others:

-never average into a losing trade

-delay all entries until 20mins after opening bell

-no new trades unless there’s at least 40mins left in the session

-no shorts unless SPY trades below opening price for a minimum of 30mins

-average daily volume for eligible stocks must exceed 200k

-entry only if a given stock’s daily vol run rate clearly exceeds SPY

-NO SETUP, NO TRADE >> setup requires a compelling series of 5min candles

-be mechanical

-use 1.5% stop loss, no excuses

-permitted 2 losers per day, after which go have fun / regroup

-sell half of winners +1.5%, no regrets.. raise stop on remainder to entry price

-sell half again +3% & then assign 3% trailing stop to remaining shares

-nothing held overnight absent +3% cushion

-maintain daily diary / decompression

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