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Originally Posted by myselff77
Lewdog - are you still sitting on the sidelines or have you started to reenter the market with VCP screen/plays? I read Minervini's book which was pretty imformative. First few trades have been successful so I'll keep it up. Struggle a little bit with deciding when to sell especially around earning report time.
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Glad you read the book! Once you get the technique down, you're going to feel so good knowing your capital will NEVER get trapped in a down trend. You won't catch the huge up swings like many claim to do, but they absolutely lose way too much capital on these quick down swings that you'll come out ahead in the long run AND be able to sleep at night.
What are you using to screen for stocks?
I've taken trades here and there but never getting more than 30% exposed at a time and selling quickly as a bear market rally is still in play. Many times I raise my stop to the low of the prior day to lock in profits, so trades are short.
Quite a few nice entries have been present during this recent positive trend, so you're following the rules nicely for just starting and noticing that.
I NEVER hold through earnings. Not worth the risk. Take a look at most stocks in the past year around earnings and you're risking a 10-25% loss in a day, even on blue chip stocks.
Please feel free to post questions here or PM me. Glad you're using a real strategy.