Contest: October Third Daily Challenge
Final Rank: 1
Final Portfolio Value: $108,724.97 (+8.72%)
Trading Strategy For This Contest
The strategy I prefer to use is to look for stocks that have been unfairly beaten down. Many stocks are down at any given time and most justifiably so. However, there are those that have become oversold. When the weak hands have already sold the bargain hunters move in. These points can be identified through technical analysis tools such as MACD, TRIX, and others. But technical analysis on its own isn’t enough. It is necessary to follow company specific, industry, and general news to understand the context of what the charts are saying. If you not careful you could get caught in the next wave of selling.