Recently, I have made several trades, making anywhere from breakeven to > 10% profits due to the recent volatility. I focus on tech and semi related and non-tech leveraged ETFs that have strong momentum / breakout. The sideway movements of these stocks make them good targets for swing trading. My frequent mistake is I don't take profit in time, and the profit either drops or turns into a loss, and then I will have to cut loss or wait for a rebound. If the stock is worth holding, I will just hold. But fortunately, so far, my win rate has been 100% for the trades made this year.
The market is still in fear, the longest streak for the past 3 weeks. I am being careful here and have sold off Monday and IOT which I bought earlier, with a small profit. Still holding onto TradeDesk with a small profit. With the earnings season here, there could be more volatility ahead, though so far we have some good news for the inflation front and bank earnings.
For the past 2 years, the US market has been going up strongly due to expectations of Fed rate cuts. Now that the rate cuts are expected to slow down, who knows what will happen to the market? As such, I am moving more towards short-term trading. I am waiting for a good entry point to enter long-term for the stocks in my watchlist. I am also having a concentrated portfolio which I can easily focus on given my other committments.
https://www.cnn.com/markets/fear-and-greed
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