Hello My Name is Allen and This is My Swing Watch List

[EatSleepTrade 10]

Hello,

 

My name is Allen and I'd like to introduce myself. I'm new to the forums and I've been intrigued with trading for about a year and half now. It all started when I finally decided to open a retirement savings account because my current job didn't offer a 401k. After months of automatic deposits I thought to myself that it would make sense to try and grow the money. I had no idea about Trading, Technical Analysis, Charts, or anything else to do with the stock market. So I started doing online research and began looking into how Warren Buffett became rich with investing. At this time my intentions were to place my retirement in a safe spot where it could continually grow for 5-10 years. The Buffett strategy taught me how to read Income statements and Balance Sheets and use the "WB Quick Valuation Tool" to quickly find companies that are undervalued. After weeks of going through hundreds of stocks I finally found one that met the proper criteria. $NFX is an oil exploration company, I found this stock in march of 2014 at $30.00 when the oil sector was doing very well. Having never purchased a stock before and not wanting to use all of my account on my first stock purchase, I foolishly purchased 5 shares of $NFX at $30.11 with a $7.95 commission fee for a finale purchase price of $158.50. At this point I was feeling pretty good. I found the perfect stock or so I thought, and if it doesn't work out no harm done. I'll only lose $150 bucks. I watched this stock every day for 23 days. On the 23rd day I proudly sold my 5 shares at $33.29 for a $3.18 per share profit! I was so stoked about my first investment until I quickly realized after my $7.95 commission fee for buying and selling the shares my total came out to $158.49. I had actually just lost a penny. For the next few months I watched $NFX continue up to $44.00 and that concluded my introduction to commissions and fees. This is when I realized that I didn't have the capital required to maintain a WB investment style. Soon after I found Technical Analysis and Charts. Over the last year and half I've developed myself into a "technical swing trader". Like many of you my dream is to become a full time trader. I currently use Fidelity for my trading but I'm very limited on how many trades I can make while I try and grow my small account. Once I started trading it was the only thing I could ever think about, and I just didn't have the current capital to trade as much as I wanted to. So this year I decided to start a 1 year paper trading challenge to prove to myself that I can actually do this and prepare myself to open a second more trader friendly (less commission and more shorts available) account with more capital. You can check out my paper trading stats here: http://www.marketwatch.com/game/eat-sleep-trade-2015/portfolio/holdings. I've also created a website to teach others what I've learned as well as create a track record of my history you can check that out at EatSleepTrade.net. On my website you will learn about the type of stocks I look for and how I trade them. If you guys have any questions please feel free to ask. I appreciate constructive criticism.

 

Now I wanted to share my watch list for the upcoming week with you guys. Now keep in mind that these are swing trade ideas.

 

Watchlist Week of 5-18-15

 

$SFS - LF breakout of consolidation

$ELY - Bought pull back LF uptrend continuation

$WPP - nice bull flag setup

$COWN - want to take advantage of big sell off

$AFFX - Looking to hold 12.00 support and breakout

Edited May 19, 2015 by Mysticforex