Where was this guy when I had 83 consecutive winners?

[skiracer]

So it sounds like you use a stop-loss approach from the above commentary.... So skiracer, what do you do? Do you use a stop loss? And if so, what percent do you use?

Thanks,
Warren

i'm basically short term swing trading setups off technical chart patterns that provide me the highest percentage of an edge that the stock will move in the direction i expect it to. an integral part of the plan and strategy is the placement of a stop loss at some line of support or resistance. usually that stop loss point never exceeds 7%. sometimes i will exit sooner if i don't like the way the trade is progressing. i always let the winners run out to the max moving the stop up or placing a trailing stop once the play is in firmly in the green.

[wlicht]

i'm basically short term swing trading setups off technical chart patterns that provide me the highest percentage of an edge that the stock will move in the direction i expect it to. an integral part of the plan and strategy is the placement of a stop loss at some line of support or resistance. usually that stop loss point never exceeds 7%. sometimes i will exit sooner if i don't like the way the trade is progressing. i always let the winners run out to the max moving the stop up or placing a trailing stop once the play is in firmly in the green.

So do you use Mr. Market's picks when choosing stocks or do you have another screening technique?

Warren

[Websman]

I was looking at IBD forums the other day and some guy posted a question to Mr. M last month regarding a post Ernie had made over 2 years ago...I suppose the guy didn't notice the date of Ernie's post???...Some other guy posted ...in not so nice terms...that Mr. M was long gone from IBD Forums

The VTP has declared that IBD sucks...

[skiracer]

So do you use Mr. Market's picks when choosing stocks or do you have another screening technique?

Warren

i'm in an out of trades on a daily basis usually and make several trades a week on average. i'm sure i trade much more than ernie. sometimes i like ernie's selections and other times i don't. it is really a matter of timing and where his selection stands, technically speaking, on the chart. his picks are all strong fundamentally but sometimes at the time he is looking for an entry the chart may be saying something different to me even if the stock is strong fundamentally.
I have my own scans and screening techniques for finding setups that i like. plus i subscribe to a couple of services that i follow that do provide me with plenty of good leads. there are also many good leads that come out of this forum. if you have been following the posts here at all you must see what is going on. but you must do your own research and dd before jumping blindly into any setup or trade. don't knock ernie's picks. his selections are based on sound research and a proven technique. how he accounts for his winners and losers is really not the question as much as if the setup is good for you dependent on your trading style and strategies. you have to have your own house in order first before you can analyze or knock someone elses. you should also have a firm grip on how you want to trade. ernie's house is in order and he knows how he wants to trade. if he wants to list the winners as consecutive and keep the losers under wraps that's his cross to bear and not anyone elses. everyone who critiques should be able to exhibit some credentials regarding their abilities. ernie has done that where others only critique his scorecard and never seem to be able to show their own credentials and abilities. if you're one of those types you are going to get chewed up and spit out here that's for sure.

[wlicht]

i'm in an out of trades on a daily basis usually and make several trades a week on average. i'm sure i trade much more than ernie. sometimes i like ernie's selections and other times i don't. it is really a matter of timing and where his selection stands, technically speaking, on the chart. his picks are all strong fundamentally but sometimes at the time he is looking for an entry the chart may be saying something different to me even if the stock is strong fundamentally.
I have my own scans and screening techniques for finding setups that i like. plus i subscribe to a couple of services that i follow that do provide me with plenty of good leads. there are also many good leads that come out of this forum. if you have been following the posts here at all you must see what is going on. but you must do your own research and dd before jumping blindly into any setup or trade. don't knock ernie's picks. his selections are based on sound research and a proven technique. how he accounts for his winners and losers is really not the question as much as if the setup is good for you dependent on your trading style and strategies. you have to have your own house in order first before you can analyze or knock someone elses. you should also have a firm grip on how you want to trade. ernie's house is in order and he knows how he wants to trade. if he wants to list the winners as consecutive and keep the losers under wraps that's his cross to bear and not anyone elses. everyone who critiques should be able to exhibit some credentials regarding their abilities. ernie has done that where others only critique his scorecard and never seem to be able to show their own credentials and abilities. if you're one of those types you are going to get chewed up and spit out here that's for sure.

Nope not here to critique Ernie, just to figure out his system and see if it is right for me.

Thanks,
Warren

[skiracer]

Nope not here to critique Ernie, just to figure out his system and see if it is right for me.

Thanks,
Warren

i think you can take ernie's picks and do the research for yourself to make a determination if it's going to work for you. many here do follow him regardless and have done very well with his selections. how you play the trade is your business and there is nothing that says you have to enter or exit at the same point he does. his system is to find the strongest stock fundamentally out of a large batch of stocks and make the trade accordingly giving his reasoning behind the trade. i don't think it's a matter of figuring out his system. he outlines what governs his scans on his home page and that's what he follows. you could do alot worse. if you were to follow and just trade his picks would that be it. are you saying that you wouldn't be making any other trades other than his picks.

[mrmarket]

Since everyone's tolerance and appetite for risk is different, I wouldn't recommend that anyone blindly follow anyone else's investing trades. As I have mentioned here before, I buy and sell other stocks and commodities besides what I write about here. That means that my $$$MR. MARKET$$$ portfolio is only a percentage of my total net worth.

Having said that, my stock picks that I write about are almost always in companies that have growing earnings and revenues AND have valuations that are reasonable. As a result, it is likely that the valuation of the MM portfolio will be trading below the market, at any given time.

[Websman]

I like to put a small portion of my hard earned cash into penny stocks. The little boogers can really fly sometimes...of course they can also crash and burn. Kind of like GOFH did to me recently. jejeje