Swing trading Mr.Market's latest Top Five Picks

[spikefader]

Thread summary - all trades.

Current open trades:
NGPS at 33.49 target 41.92
CME at 210.60 target 243.04
MCRI at 35.30 target 41.34
CWTR at 28.18 target 32.51
ACRG at 3.06 target 3.57
MPX at 25.90 target 29.90

All previous trades (closed):
ARLP Long 63.74 out 73.05 for +14.6% profit
CWTR Long 24.62 out 25.53 for +3.7% profit
CME Long 197.40 out 198.05 for +0.3% profit

To sum up, it's been a great start to the thread. 3 closed trades for no losses. Total profit 18.6%.

6 open positions with some very healthy targets. All but one of those trades are based on the 50% retrace entry theory, so if you are not in any of them and are looking for a good trade, purchasing any of these at further discounted prices is encouraged and highly recommended. Remember, based on backtesting, Mr.Market's picks do very well from the 50% retrace zones.

[yaoyao]

In a market like this. It may be better to use 61.8% retrace line, or simply sit out.

[spikefader]

In a market like this. It may be better to use 61.8% retrace line, or simply sit out.

Frankly, it's this kind of emotional fear reaction that one must refuse to let into their trading decisions. The fact will ALWAYS be that it is wise to buy weakness at support in a bull trend. We are in a bull trend, the market is displaying weakness, prices are at FIB support. Buy it, don't fear it.

[spikefader]

BSTE 50% retrace entry. Long 57.28. Target 65.87.

All Top 5 are long now When their targets are met, don't say you weren't given the opportunity!

[yaoyao]

The thing is that I'm not sure that the bull trend will continue.

Do you have your stops set for these trade?

Thanks.

[spikefader]

The thing is that I'm not sure that the bull trend will continue.

Do you have your stops set for these trade?

Thanks.

I accept you may be fearful that the bull trend may not continue. But why do you feel that way? The fact is nobody is ever SURE of anything when it comes to the market. The market will do what it's going to do regardless of our feelings. The only thing one can do is have a plan and stick to it. My plan in this thread (at least for these 50%ers) is buy weakness at Fib support and have no stops. You know me - I love stops. But for this system, it is without stops , as I've already mentioned along the way in the thread.

Knowing this, anyone following or trading based on these examples, you can set your diversification and sizing according to the risk you can tolerate. Take the trades you can tolerate. Set any stop that you can tolerate, or don't set one at all. Backtesting showed that stops with Mr.Market picks will NOT prove worthwhile. This 50% retrace system seems to show that some downside should be expected, while sometimes price bounces right at the 50%.

[yaoyao]

Thanks, Spike, as always.

I wish someday I could trade like you: stick to your plan and leave emotions out. I started trading over a year ago, and really love it. I spent a lot of time on it after work. I am still struggling finding a system that works better for me. The hardest thing for me is to leave emotions out. Sometimes, it even affects my sleep at night. I have to learn to overcome that.

I like this system better. I'll try a couple of trades using this system.

[yaoyao]

Spike, after reading your post, I bought MCRI at 34.84. It's up almost a point now, and is the best performer of my positions today. It works pretty well so far. I also have ACRG that I purchased several weeks ago at 2.98. Let's see how that goes.

[spikefader]

Thanks, Spike, as always.

I wish someday I could trade like you: stick to your plan and leave emotions out. I started trading over a year ago, and really love it. I spent a lot of time on it after work. I am still struggling finding a system that works better for me. The hardest thing for me is to leave emotions out. Sometimes, it even affects my sleep at night. I have to learn to overcome that.

I like this system better. I'll try a couple of trades using this system.

You're welcome. Stick at it yaoyao! Discarding emotion becomes easier the more you succeed at following discipline. It helps with a few winners too, but even in times of frustration just keep reminding yourself that it's a marathon and not a sprint, that downside IS going to happen, so expect it - and as long as you're on the right side of an edge, the edge will make the difference over time. As far as I'm concerned, buying at support is a distinct edge. So is the patience to wait for it. And so is sensible money management. Combine all three of those with any system that you develop and you're on the right track. Learn from lessons and modify behavior where necessary and it's just a matter of time.

If your trades are affecting your sleep, then downsize to insignificant levels where you don't care. Do that for whatever length of time until you get into a zone and level of realistic confidence that you are 'prepared within yourself' to slowly raise the stakes a little at a time. Then when you've proven to yourself that you can be disciplined and remain effective, then go back to the levels you're doing now. Life is too short to lose sleep over money and the market! The market will always be there so you can stroll and enjoy the walk.

[spikefader]

Spike, after reading your post, I bought MCRI at 34.84. It's up almost a point now, and is the best performer of my positions today. It works pretty well so far. I also have ACRG that I purchased several weeks ago at 2.98. Let's see how that goes.

Congrats on a decent entry! Always nice to not have to sweat it after it's open. I really dislike starting in the red, just like everyone else There's an overnight double bottom, and price remaining above it. Now all you have to do is stick to your plan and smile no matter what develops. Good luck!

[yaoyao]

Thanks, Spike. You are such a good advisor.

The market didnt close pretty today. Where is "January effect"?

[New-born baby]

CWTR Downgraded

FYI:

Wells Fargo downgraded CWTR today. It said it is over valued.

[spikefader]

FYI:

Wells Fargo downgraded CWTR today. It said it is over valued.

Oh goodie!

I just looked at the weekly for CWTR....it sure has had a strong run, it's looking bearish rising wedgy, and the 50% entry I took isn't from where I would describe a 'significant' low....therefore, seeing the position is in profit, recommend erring on side of caution and stop to even or at 27.29.

Thanks for the heads up New-born!

[RL]

Spike NGPS droped more yesterday but good news this morning on contract I,m buying on open should be around $32.

[noshadyldy]

Ngps

R U T ROOOO! I'm in this one deep. Spike? Comments? Prayers?????