Commissions
May 30, 2008 | 5 Comments
If anyone is paying anything MORE than $5 per trade, you are being ripped off.
InteractiveBrokers
Tradestation
Tradeking
Just2Trade
MBTrading
Cybertrader
Zecco
If you are paying more than $5 per trade or .005 per share, NOT ONLY ARE YOU BEING RIPPED OFF BUT you should CONCENTRATE YOUR PORTFOLIO TO ONLY THE BEST OF THE BEST CANSLIM STOCKS. Over 100% of my trades are $5 or less. Stick with the high priced stocks. They do MUCH BETTER than the low cost JUNK. PER TRADE, PER SHARE, REAL TIME, AND DEEP DISCOUNT is the way to go in a free market!
Investor’s Business Daily Is The Greatest Investment Website On The Internet
May 30, 2008 | 5 Comments
Everyone should go to the IBD Learning Center and READ EVERYTHING in it this weekend. That way IN CASE this turns into a VERY BULLISH (a big up day over 1.5% with volume over the 50 day volume average by at least 20%) you will be completely ready.
f all of IBD’s 20 rules are carefully followed (not just the ones you like), your investment results should materially improve:
1. Consider buying stocks with each of the last three years’ earnings up 25%+, return on equity of 17%+ and recent earnings and sales accelerating.
2. Recent quarterly earnings and sales should be up 25% or more.
3. Avoid cheap stocks. Buy higher quality stocks selling $15 a share and higher.
This Is How I Short Stocks
November 24, 2007 | 6 Comments
Now that we are in a clearly bearish tape, I want to go over how I prepare for shorts, look for my shorts, what I like to see in my shorts, and which stocks I decide to short. After I do all of this, I want to go over the way I look for my stocks and how I trade. There are going to be things left in and out but if I leave something out I will add to it later in the comments area. Also, in the hopes of not leaving anything out, it is possible that there might be some redundant TA items discussed. Unfortunately, you have to suffer through that, to make sure I don’t forget anything.
The first thing I need to make clear is that this is NOT the first time frame that I have been short since the rally from October 2002. I have a feeling some of you think that I was long the entire time and was never ever bearish before this selloff. That couldn’t be further from the truth. When the selling started in 2004, 2005, 2006, March, August, or now I had no clue it was either the start of a bear market or just a normal pullback in a bull market.
For that, I needed my charts and a few sentiment indicators. The charts I am speaking of are all my charts of every individual stock in the stock market and the sentiment indicators I prefer are the investors intelligence bull/bear survey, the put/call ratio, and the VIX. Those three seem to be more reliable than almost anything else at gaging when the market is near a bottom. These indicators allow me to view where we are at in a downtrend, which allows me to be prepared for the vicious oversold rallies that happen yet not lose my short position.
Worden - TeleChart Gold
November 1, 2007 | 2 Comments
Telechart is the only charting program for me. After using several different other services before signing up to Telechart in 1998, I had no idea what I was missing. The ability to scroll through hundreds and hundreds of charts in minutes looking for the best patterns is worth the price alone. The clarity of the charts and the ability to switch time frames and zoom in levels with one keystorke are other features that saves me hours a day when searching for stocks. The most important feature was the ability to create a PCF and easyscan using simple criteria that I want to see in my charts. If you can think of it, Telechart has it. But if you want to know the best thing about the product it is the price. Telechart offers you way more bang for your dollar than any other service out there. If you are not using Telechart, I am not sure how you can trade for a living. Make the switch and you will see why Telechart has been voted the best stock market software for under $500 a year for the past 14 years by readers of Stocks & Commodities Magazine.
For more information click here Woden Telechart 2007
Strategy
January 2, 2007 | 3 Comments
When I go long stocks I like to seperate my longs (when we are in a bullish market) into two categories:
1. CANSLIM quality
2. Speculative
Within the first category I split them up to perfect and speculative CANSLIM longs.
Before I get into how I seperate the two I want to list what I look for in all longs.
1. Price must be over the 50 DMA
2. The 50 DMA must be above the 200 DMA (day moving average)
3. Volume must be over the 50 DVA (day volume average)
You can find the PCF scans that I have created that I program into TC2007 on my scans section on my homepage.
After a stock fits all of these requirements, it is then in my scan for me to look at. I will quickly move through all charts that do not interest me. When I find a chart that I like, I will flag it and jot it down. Then when I am done looking through the charts by price percent change today, I will go over the list I wrote down.
I then study each chart and look up the fundamentals of each stock. Depending on the beauty of the chart and the quality of the fundamentals I then make my decision if I am going to go long the stock or not. If I decide to go long, then I must weigh how much I will put in the trade. That decision rest upon the chart. The more perfect the chart, the more $$$ that goes into the stock. The less attractive the chart…well you get the picture.
How I Scan For My Stocks
November 30, 2006 | 5 Comments
When I am searching for stocks there are two primary scans I use, after hours. One is a list I have in my TCNet program called “IBD List Combined” and the other one is “Price/Volume.”
The IBD List Combined is simply all the stocks the past week from “Your Weekly Review,” “Where The Big Money Is Flowing-Daily/Weekly,” “IBD 100,” “Top Buys Of Mutual Funds Past Month,” and “IBD Compostie Top 200.” These stocks are all put on one list and scanned for new breakouts after the bell. These stocks are the best of the best and normally when they breakout if you follow the IBD sell rules work quite well. What this list also helps me to do is find potential breakouts that I then place on watchlist on my TWS in IB. These watchlist have alerts set .10 cents above the pivot point of the most recent base and when the stock price crosses that pivot point an alert goes off. That alert will then allow me to pullup current chart of the stock and see if this breaout is on heavy volume. If it does, then I buy intraday, if I am around.
How I Use Investors Business Daily With TCNet
November 30, 2006 | 30 Comments
IBD is the greatest investing tool I have ever seen in my life, to this day. I was blessed that my father mentioned this newspaper to me when I was 16. How he mentioned it and introduced me still is amazing to me. He only knew of “this Investors paper” his mom mentioned once to him. He said that she said that this was the greatest thing she has ever seen in her life for investments. My grandmother died in 1985 and IBD was only created in 1984. Fortunately, for me, he remembered this conversation and got me a one year subscription to “this Investors paper.” The rest is personal history for me.
