Mixing Trading and Traveling

The sun has dawned today. As I continue with self-studying the system of a successful trader, I finally came across an outline of the trading lessons.

Anyway, a question hit me if you need to be on the watch every time the market opens to watch your stock?

ZF shares how you can several vacations or hold a day job and still do well on the stock market

1. Create a trading plan
• are you for the small swings or big waves?
• what are your entry price, cut loss and trailing stops?
• do you have time stops when the stock you are watching isn't moving?
2. Plan ahead
• requirements of line trading is a phone/laptop and Internet connection (as most have an online broker) and so if you go to places with no Internet access then do not trade
3. Set triggers and alerts
• install a mobile app that sends you an SMS once your trigger and cut loss points are hit. Then at the time you have access to the Internet/ laptop can you post an Off-Hours (OH) order for the next trading day
• ZF used PSE Watch for this. There is also the Investagram InvestaWatcher. It's a subscription which alerts you via SMS for triggers and FB messenger for Dividend reports. It comes with a monthly subscription rate of P167 to P267 per month but paid yearly on subscribing.

Warrior Trading shares how he sets up his traveling trading station (plus vlogging gadgets?)

• 2 Lenovo gaming laptop: fast hardware; 1 laptop for all trading; 1 laptop for streaming/ chatrooms/ Youtube
• 2 Asus USB monitor
• HDMI mini monitor
• Capture card for his online streaming (HDMI port)
• Logitech Headset
• Logitech webcam 1080

Madaz Trader also shares his travel trading station

• Asus gaming laptop
• 2 Asus USB monitor; monitor stands to hold
• Logitech USB mouse
• USB Expansion hub
• Travel adapter
• prefers ethernet cable
• Logitech mechanical keyboard
• Blue Yeti microphone (if traveling locally)

You can have a minimalist traveling trading setup:

• laptop
• 1 extra USB monitor
• Internet connection

Bounce Balls and Stock Trading

Bounce play or buy a bounce is buying/ selling stocks to profit from temporary price reversal during price corrections. These are short term trades. Bounce play does not affect the direction of the larger trend.

David Jones of Trading 212 tells about Fibonacci retracements

Lifted from Investopedia

• Traders who "buy a bounce" attempt to profit from a short-term correction or "bounce" off of the identified support.

Steps shared by MoneyGrowers

• find a beaten up stock
• plot the Fibonacci
• let the market do its work
• choose your tools: there are other tools used for bounce plays

Metatrader 4.0 shares how to correctly draw the Fibonacci Retracement

• the top of a downtrend or the bottom of an uptrend is the starting point

Trading 212 shares show to trade Fibonacci Retracement

When to enter in upward trend? After price goes down then price increases and reaches 50% and this goes on in the next 2 days, buy on 3rd day

When to enter in downward trend? When price  goes up to 50%, buy.

Exit strategy

• Stop loss
• upward trend: place stop loss just below support
• downward trend: place stop loss just above resistance
• Target profit: using Fibonacci extension

Notes from ZF

• 3rd day rule:  take profit on the 3rd day of a stock's ascent or buy a stock on its 3rd day decline
• 61.8% and 76.4% Retracements would be the ideal crash-point for pickup
• As long as 38% Fibo holds, expect your money to make MORE money.
• The best candles to watch for when playing the bounce are
•  the abandoned baby:  Doji on the second day whose shadows gap above the previous day’s upper shadow
•  the hammer: lower shadow of this candlestick is at least twice as long as the body
• and some variations of dojis