I'll start posting a swing trading journal based on various US stocks and ETFs.
Screening/selection criteria:
- Share price > $10
- Average Daily Volume (3Mth) > 1 mill.shares
- ADX(10) > 25
- Closing price > 200 EMA
- Inside bar
Trading directional by buying the stock itself, ITM calls or combination of these.
Risk management:
Fixed amount $ per trade (vary according to account size; 1% of total capital).
Max 10 trades on at any given time. Portfolio risk no more than 10%.
Setup to go Long:
-Weekly chart in an uptrend.
-Daily chart in an uptrend;
- Pullback into support defined by 50EMA, 79SMA/89EMA or 200EMA
- Inside bar
- Fibonacci analysis; 100% projection confluence from prior swings must be present.
Entry trigger to go Long:
- price move up above prior day high (offset ~ $.10), defined by inside bar from last two days.
- No entry if price gaps above entry price.
Stoploss:
- Below inside bar,
- Below fibonacci cluster,
- Nearby prior support zones.
Whichever is lowest.
Two profit levels (scaling out):
- 61.8% retracement from HH to low of last swing.
- 127.2% fib.extension of last swing.
Trade management:
- Trailing stop 2 times ATR(14), based on Highest price after entry.
That's it. Do scan and analyses before markets open, stage buy orders and submit when markets open. Put on bracket sell orders as the stock is bought either automatically or EoD. Any trailing stops adjusted once per day, e.g. just before market closes that day.
Point here is that this trading style should require minimum of my time. Most time is spend on finding candidates each day. Once trade is put on, it is mainly "set and forget", except for adjusting trailing stops.