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Amateur Trader's Diary - End of the Week Results

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Stocks on the watchlist: $WFC, $SAVE, $CCL, $TWTR, $DVAX, $SQ, $SDC, $FLR, $COTY, $GE, $ACB, $CBRL, $AVGO, $CMD, $EVRI, $GPS, $MTN, $RH, $PENN, $TRIP, $YELP, $HAL, $APT

First ten stock picks are by StockDweebs on Twitter. Every Sunday he shares 10 picks for some analysis. All picks are for a long position and expected to play out within a week. First 5 picks are primary picks and the other 5 are secondary picks. StockDweebs primary picks performed really well and stayed green throughout the week. However, when I looked at the charts I didn't see them as tradable. His secondary picks on the other hand didn't perform that well. Two of them stayed red almost everyday. Rest were mixture of green and red days.

Today StockDweebs shared the strategy on how he picks his stocks. Following is the his strategy and a chart illustrating the strategy:

StockDweebs million-dollar strategy:

Indicators:

  1. 13/21/55 EMA
  2. 200 MA
  3. When 200 MA crosses under 12/21/55 EMA = bullish

Trading Setup:

  1. Only uptrend
  2. Buy every time price dips to my EMA's and stochastic RSI is under 30.
  3. Sell whenever trend is broken and wait again

It does look interesting. I will see if I can combine all these indicators on TradingView using PineScript. Maybe use it for my own picks as well.

I had 20 picks for the week. One of them was a short position($APT), which performed really really bad. The price kept going up everyday. Nineteen picks were long positions, some did well, some not so well. Chances of winning or losing were 50/50. I don't think that is good enough.

Going forward, I am planning to narrow down the amount of stocks to focus on. I need some other metrics to filter out more stocks from my initial picks. I think 5-10 stocks a week to watch is more than enough. However, to test any strategy I think more is better. I haven't finished the automating daily results python code yet. I think doing that will lead to more ideas turning strategies to a code and backtesting using historic data from Yahoo Finance.

Read the previous posts:

1. Amateur Trader's Diary - Reentry to the Stock Market

2. Amateur Trader's Diary - Getting Ready for the Trading Week

3. Amateur Trader's Diary - Monday Closing Stock Prices Updated

4. Amateur Trader's Diary - Story of Cobalt International Energy

5. Amateur Trader's Diary - Tuesday Updates & Automating with Python

Posted Using LeoFinance