[CANSLIM] paper trading

From: "Mike Lucero" <m.lucero@verizon.net>
Subject: [CANSLIM] paper trading
Date: Fri, 9 Aug 2002 02:17:55 -0700

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How many of the new people are paper trading? Using play money, try to =
follow the rules for buying and selling. If you had been doing that for =
a while you would probably see why it's not a good time to be buying =
stocks. After your paper trading seems profitable, you could start with =
real money, a small amount per position, and see what it feels like to =
follow the system. It feels different with real money on the line, and =
your feelings are what you have to overcome.

How do you find buy candidates? Use a scanning program and find stocks =
that have hit a 52 week high close. If you want to only buy =
cup-with-handles, then evaluate the pattern. Check RS, EPS rank, EPS =
growth. Pretend (paper-trading, remember) that you buy the next day at =
the open, buying with 10% of your play money portfolio. Keep track of =
your trades in a spreadsheet. If your loss in a stock hits 7%, =
pretend-sell.=20

There's more to CANSLIM than finding the stocks. You have to put money =
on the line, control greed and fear, and try to follow what the market =
is telling you.=20

Mike

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<DIV>How many of the new people are paper trading?&nbsp;Using play =
money, try to=20
follow the rules for buying and selling. If you had been doing that for =
a while=20
you would probably see why it's not a good time to be buying stocks. =
After your=20
paper trading seems profitable, you could start with real money, a small =
amount=20
per position, and see what it feels like to follow the system. It feels=20
different with real money on the line, and your feelings are what you =
have to=20
overcome.</DIV>
<DIV>&nbsp;</DIV>
<DIV>How do you find buy candidates? Use a scanning program and find =
stocks that=20
have hit a 52 week high close. If you want to only buy cup-with-handles, =
then=20
evaluate the pattern. Check RS, EPS rank, EPS growth. Pretend =
(paper-trading,=20
remember) that you buy the next day at the open, buying with 10% of your =
play=20
money portfolio. Keep track of your trades in a spreadsheet. If your =
loss in a=20
stock hits 7%, pretend-sell. </DIV>
<DIV>&nbsp;</DIV>
<DIV>There's more to CANSLIM than finding the stocks. You have to put =
money on=20
the line, control greed and fear, and try to follow what the market is =
telling=20
you. </DIV>
<DIV>&nbsp;</DIV>
<DIV>Mike</DIV></BODY></HTML>

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