Re: HGR - Harrington Group
Hey OBK. I'm a novice trader. I've been trading for five months now although I did a Securities Institute course (with ASX) 15 years ago, when I *invested* for several years.
I watch the high volume penny stocks (under $1) each day and look at their charts on Netwealth's 'Stock Quote' and 'Price Charts'... the latter especially for the intraday trend of price and volume. I have a watchlist of 20 that I edit out for consistent low volume (under 2-3 million) or if they take off and I miss them. I edit in new stocks that have high volume and look to be on the rise or have fallen far but seem to have potential. "Always buy straw hats in winter".
I draw up charts by hand for six stocks, at any given time, that my gut feeling favours. I use graph paper for each stock, with 10 small squares (2cm) for each cent of the price... one small square = .01 cent. This magnifies the development. I draw a line from the high to the low for the day then mark the close. I then draw a thick red line from opening to the close if it finishes the day below the opening price OR a thick black line from opening to the close price if it finishes the day rising above the opening. Just like the white and red 'candles' on Whiskers' chart above. I write the volume (x million) above the line for the day.
By adding to the hand-made chart each day I get a feel for the trend and as the chart takes shape it almost seems to gain a life of its own. There has to be a reason to chart a stock in that they are active and have some potential.
I print out the market depth at night and check it in the morning to see how buyers have changed their positions overnight... building up or backing away. I also check to see what the Dow has done overnight but I don't worry about it as I so delight when I see my trades green on a page of red. Planets move in their own direction amongst the stars (the blue chips).
It's a great feeling to zone in on one or two at a time and test your gut instinct. Always there is a lesson that can be reasoned by studying the chart... like a steady closing price yet an intraday rise or fall that hints of some trend forming. The volume attached to these adds volumes! I love it! But it *is* often confusing trying to make sense of one's gut feeling.
Fear and greed drive the market and as folk on here say, you need to not get emotionally involved.. or 'marry' a stock.
Hey OBK. I'm a novice trader. I've been trading for five months now although I did a Securities Institute course (with ASX) 15 years ago, when I *invested* for several years.
I watch the high volume penny stocks (under $1) each day and look at their charts on Netwealth's 'Stock Quote' and 'Price Charts'... the latter especially for the intraday trend of price and volume. I have a watchlist of 20 that I edit out for consistent low volume (under 2-3 million) or if they take off and I miss them. I edit in new stocks that have high volume and look to be on the rise or have fallen far but seem to have potential. "Always buy straw hats in winter".
I draw up charts by hand for six stocks, at any given time, that my gut feeling favours. I use graph paper for each stock, with 10 small squares (2cm) for each cent of the price... one small square = .01 cent. This magnifies the development. I draw a line from the high to the low for the day then mark the close. I then draw a thick red line from opening to the close if it finishes the day below the opening price OR a thick black line from opening to the close price if it finishes the day rising above the opening. Just like the white and red 'candles' on Whiskers' chart above. I write the volume (x million) above the line for the day.
By adding to the hand-made chart each day I get a feel for the trend and as the chart takes shape it almost seems to gain a life of its own. There has to be a reason to chart a stock in that they are active and have some potential.
I print out the market depth at night and check it in the morning to see how buyers have changed their positions overnight... building up or backing away. I also check to see what the Dow has done overnight but I don't worry about it as I so delight when I see my trades green on a page of red. Planets move in their own direction amongst the stars (the blue chips).
It's a great feeling to zone in on one or two at a time and test your gut instinct. Always there is a lesson that can be reasoned by studying the chart... like a steady closing price yet an intraday rise or fall that hints of some trend forming. The volume attached to these adds volumes! I love it! But it *is* often confusing trying to make sense of one's gut feeling.
Fear and greed drive the market and as folk on here say, you need to not get emotionally involved.. or 'marry' a stock.