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Alright, so I've screened some stocks and had some beers. I feel like this is wasted effort since no one here gives a **** about technical trading because you're all making money on douchecoin and meme stocks!!!
But I look for and trade reversals and breakout positions. This has me enter stocks at determined prices, knowing my exact stop loss if shares are purchased and thus I can calculate my risk percentage before anything goes down. Risk percentage is purchase price, minus stop loss, divided by purchase price. This is percentage I'd lose on trade if stop is triggered.
If I am being successful in trades, I let my risk percentage climb. I've if had recent bad success I only take trades with low risk percentage and progressively expose my total positions until I demonstrate good success in the current market.
Here's how the screening went down today.
WIRE breakout purchase 72.21, stop loss 68.88, risk percentage 4.6%
TPX breakout purchase 40.19, stop loss 38.40. risk percentage 4.4%
PRTA not at breakout but at current 23.80, stop loss 22, risk percentage 7.5% (if I decide to enter this high risk trade, I would then take a very low risk trade if I enter another on the same day)
CROX breakout purchase 84.26, stop loss 79, risk percentage 6.2%
After screening I look for earning date reporting, which I usually try to avoid but will sometimes make a play if rumor is good. WIRE has earnings on April 26 and TRX to report between April 28-May 3rd. WIRE report doesn't bother me but I think I'd rather avoid earnings report on TPX. I will not purchase this stock until after earnings but will add to my watchlist and continue to watch it's movement.
Cheers you filthy bastards!
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