RE: Red Braces Brigade10 May 2020 21:08
My style of trading couldn’t be more different from Ts. I usually make several trades a day, sometimes it’s none or 20 or more. I deal in several companies at the same time and sometimes it gets hectic and things are happening simultaneously so I inevitably mistime some trades. I couldn’t spend time waiting for just one or two shares to perform. I make losses but they are outweighed by gains. I take very small gains if I think it will turn into a loss by waiting. I try to cut my losses if needs be. i.e. sell at a loss if I think I have read the trend wrong. I hate selling at a loss.
I have mentioned before that I trade in tranches. I try not to get emotionally attached to a share but I don’t always succeed. As T does, I move to another share at the drop of a hat if I think I can make more profit, quicker. I use Stochastic indicators and lately have been experimenting with the T line and ema 8 and 34. They don’t fully fit my style but have helped me to better “guess” the bottom and top of curves. They have also made my trading less hectic. Yes, IG love me because I pay lots of fees but it seems to work for me.
On top of this “style”, I use Ts spike and shake system. I understand it’s benefits and it works for me. The 9 point plan is stuck up above my computer. But because I am so busy watching and trading , I don’t always use the proceeds of a sale of say, OCDO, to buy a different number of OCDO shares next time so I am running a hybrid! As already mentioned, I hate selling at a loss but Ts system demands this sometimes but it usually results in the subsequent purchase of more shares. And it does work.
These are special times, there is a level of volatility in the market that is a golden opportunity. I hate to get stuck holding a share at a price that is too high, doesn’t everyone? But I feel at the moment, dealing in shares like IAG, CCL even TLW is comparatively “safe” because of the backstop of the recovery which must surely come. I won’t predict when though.
Incidentally, I am currently completely out of OCDO. Good luck whatever system you are using.