I will start sharing some weekly trades as part of my Weekend Trader routine.
It's a relaxed way of trading suitable for blogging. It's different than the Springs and Upthrusts but carries a similar philosophy. It's excellent for catching longer-term moves without being bothered by the daily ups and downs. Some of you may say this is an investing approach and you'd be right since the holding time is relatively long.
Every 20-30 trades will summarize the account in terms of Hit rate and accumulated %.
Please do not copy, this is not meant to be a signaling service.
What exactly is the edge here I'd keep it for myself for now. But still will provide some commentary that is sufficient for you to see how the trades are performing.
Unless stopped out I typically hold the trades at least for a month so there will be enough time.
So let's start...
Weekend Trader Trade #1:
I have been in NU since 11.77. The stop is at 11.15.
Risking a bit over 1,5% of my account. In Van Tharps's terms, 1R = 1.5% of my account for this trade.
Planning to add to the position again today and move up the Stop loss.
Observation: Notice the repeatable price behavior the previous times when the price consolidated.
P.S. I wanted to start the tread with FTAI, but my limit order was not touched and FTAI is already 25% above it. The best ones are like that - moving strong like a raging bull.
I also noticed at previous breakouts NU makes a fake move and then restore its upward movements! Only the market reaction can stop it to go further…otherwise NU is a true market leader. Good stock selection!
Indeed, good catch, Armen. My observation as well is that stock selection is 70% of the exercise.
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