Scroll down the page to see Tomorrow's Trades (Today!)
Many readers have requested that I post trade ideas in advance of my purchases and sales. This page will be an experiment to see whether this kind of information is useful to my valued readers, such as yourself!
I will not be able to act on every buy idea I present but will give each trade my full attention from buy to sell - whether or not my money is participating.
My goal is to post these buy and sell ideas most evenings before the next day's NYSE trading session. It is my intention to document the outcome of my trade ideas as time progresses. There is now a link to this page just below the link to my TSI Trading record (upper left corner of the homepage).
Come back to this page as often as you like to see how I am doing. Even better, I sincerely hope it makes you a lot of money.
My daily objective is to provide low-risk high-probability trades of mining sector stocks in a manner that allows one to continually turn their investment capital over profitably in a matter of days to a couple weeks. It is my general practice to use about 10% of my portfolio value on a single trading position.
On occasion a buy trade may suffer an initial draw down. As I strongly believe that the mining sector is in a secular bull market, I personally resist selling a mining position at a loss. This also means that I never use a stop loss order. But if you prefer, you should limit your draw downs to some acceptable percentage.
The technical setups I exploit include the use of divergences, trend line breaks and ZERO crossovers. I use the True Strength Index (TSI) indicator set at (7,4) and Money Flow Index set at (10). Occasionally I look at other indicators along with these two. They include the TSV - Time Segmented Volume set at (5) and the Derivative Oscillator set at its default magnification (14 5 3 9). The software I use is: FreeStockCharts
Suggestions and encouragement appreciated,
February 21, 2011
Tomorrow's Trades (Today!)
Link: See previous trades - detailed spreadsheet data.
Trades for Wed. May 25:
1. Global X Silver Miners ETF (SIL) / BUY Limit Order $24.60 / SELL GTC Limit Order $27.50 (+11.8%)
2. Global X Gold Explorers ETF (GLDX) / BUY Limit Order $16.60 / SELL GTC Limit Order $18.00 (+8.4%)