Webinar: How to Make Money Trading Part Time

My webinar titled How to Make Money Trading Part Time is now posted for viewing by anyone that couldn’t make the live session or for further review.

The webinar highlighted the following topics:

The content covered is a high level overview of how I trade part time while managing a full time career and family as my top priorities. It can be done successfully but there are some key rules that must be followed in order to be consistently profitable.

Take a look and let me know if you have further questions, post them here in the blog comments (the webinar is an hour long with two Q&A sessions).

Workshop slides can be found through this link in PDF format (please note that the chart case studies won’t work properly in static PDF format – the PDF is not interactive):
How-to-Make-Money-Trading-Part-Time

Lastly, I would like to thank Tim Bourquin from TraderInterviews.com for hosting this webinar and giving me a chance to perform this workshop both in person back in February in NYC and on the web.

Review these posts as a follow-up to the webinar, to reinforce the topics that I discussed:

I look forward to the next workshop and/ or webinar, thank you again!

The Greatest Secret of Success

The greatest secret of success is: there is no secret!
Sorry to disappoint after that lead-in title but it’s the truth.

With that said, a positive mental attitude is the one simple trait that could be considered a secret that is shared among the world’s most successful people. After that, success is disguised as something called hard work.

“Anything in life worth having is worth working for!” – Andrew Carnegie

The problem with most people is that they are well on their way to success when an obstacle decides to block their path. Most people will attempt to jump this hurdle or blast through the challenging brick wall but when rejected, they decide to turn around, give up and walk away because the task is just too challenging. Most people don’t have the burning desire and persistence to realize their dreams because they feel it’s easier to just be average and carry on like 98-99% of the rest of the world.

“Before success comes in any man’s life, he’s sure to meet with much temporary defeat and, perhaps some failures. When defeat overtakes a man, the easiest and the most logical thing to do is to quit. That’s exactly what the majority of men do”. – Napoleon Hill

I recently posted the above quote to a friend on facebook and asked him: “So what will you do?” He was faced with some unfortunate failure in life and was feeling down but it appears that he’s getting up and will treat the failure as a temporary defeat. That’s admirable because everyone fails in life, a countless number of times, but it’s the people that continue to move forward with a definiteness of purpose that will achieve their dreams.

The following poem illustrates that no more effort is required to aim high in life than is required to accept misery and poverty. It takes less work to succeed than to fail so do what you are afraid to do:

My Wage by Jessie B. Rittenhouse:

I bargained with life for a penny
And life would pay no more
However I begged at evening
When I counted my scanty store

For life is just an employer,
He gives you what you ask,
But once you have set the wages,
Why, you must bear the task.

I worked for a menial’s hire,
Only to learn, dismayed,
That any wage I had asked of Life,
Life would have willingly paid.

A definite purpose backed by a burning desire is the first step towards achieving success. However, a definite PLAN, carried out in CONTINUOUS ACTION is required in order to get your dreams going. Thoughts and ideas are great but if they are NOT acted upon, they die inside your mind. Action is required to realize your dreams and NO one becomes successful without action (a lot of new age self-help guru’s and books focus on thoughts and desires but action is the key).

Close your mind to all negative and discouraging influences, especially negative family and friends. Lastly, your dreams will be accelerated by forming an alliance with one or more persons who will encourage you to follow through with your plan and purpose. Napoleon Hill called this The Master Mind which he defined as: “Coordination of knowledge and effort, in a spirit of harmony between two or more people, for the attainment of a definite purpose”.

I said that a positive mental attitude could be considered a possible secret to success, well, action would be the other because decisions without action are worthless!

I am architect, now working as a Owner’s Representative, writing a successful blog about the stock market, tweeting to thousands of followers, getting published in multiple books, have been interviewed on the radio and speaking at Expos in front of large audiences. Who would have ever thought? What’s next? Book writer, real estate developer, web entrepreneur, educator, motivational speaker…? Who knows but I can tell you one thing, if I think it, I’ll do it because I dream every day and I do what I am afraid to do and my life is consistently more successful.

“Some dream and never do. Others do and never dream. But then there are those very few who dream, and do what they dream”

I have only just begun…

Sky-mobi MOBI is on Fire

Sky-mobi Ltd., $MOBI, has my most covered stock on twitter over the past month with 14 total posts, including today’s tweet. I first highlighted the stock on March 24, 2011 at $11.52 as it blasted up 21% on volume 495% larger than the average.

What did I recommend? ACCUMULATE!

I also complained that stocks like $MOBI don’t make the IBD 50 list quick enough. Well, the stock is now up 80% since I started to track it using IBD’s research tools and more than 100% since the actual run to new highs started. The overall run from the initial breakout after the IPO now has the stock up 300%.

Young stocks making new highs on HUGE volume (with low float) will typically always make AMAZING runs in a short period of time. Jump on them and enjoy the ride. Stop out if they reverse – keep it simple.

I talk about placing a stop to lock in minimum gains back on 4/15 – I still recommend a trailing stop, no less than the $15-$16 range to allow for normal pullbacks. I also talked about locking in gains overall after the 60% gain and I don’t have a problem with that advice, even at 80% plus gains now. The stock has powerful supporters taking it to new highs every week. I don’t have a problem with traders taking positions on low volume pullbacks.

Take a look at the charts and my tweets on $MOBI:

  • 4/27: $MOBI – 20.21, now up nearly 80% in 1 month. My most heavily covered stock on twitter since 3/23 – what a beauty!
  • 4/22: $MOBI – 16.81, up today but I alerted holders to take profits when it crossed $18 Tuesday morning, was a 60% gain from 3/23 coverage
  • 4/19: @StockTwits @DynamicHedge You missed $MOBI up 60% in less than 4 weeks.
  • 4/19: @timothysykes we both nailed $MOBI – nice job. Watch it make IBD’s list now, after the 50% run-up
  • 4/19: $MOBI – 17.94, lock in gains now. Up nearly 60% from $11.52 in March.
  • 4/18: $MOBI up over $17, nearly a 50% gain in 3 weeks from $11.52 coverage
  • 4/15: $MOBI is en fuego, up 35% at $15.60 from $11.52 twitter coverage. Place stop to lock in min 20-25% gain.
  • 4/14: $MOBI – 14.60, up 12.22% on volume 57% larger than ave | covered 3/23 at 11.52, +27% in 3 weeks : http://bit.ly/fA5lGh
  • 4/04: $MOBI higher again today, float is small at 7MM shares. It’s now beyond ideal risk/reward buy point. Up 15% from my coverage 2 wks back
  • 4/04: 5 Stocks to Watch this week: $LOGM – 46.08, $SODA – 46.80, $MMYT – 30.99, $SVN – 21.83, $MOBI – 12.85
  • 4/03: 5 Newbies to IBD 50: $TIBX, $MELI, $ENDP, $VPHM, $PRGO; not bad but they need to get quicker (earlier) with stocks like $MOBI
  • 3/28: @timothysykes This might be the 1st time we are tracking & trading the same stock, $MOBI (I am not a penny guy)
  • 3/24: Grabbing shares on any $MOBI pullback to $10 range on lighter volume. Outstanding shares tight w/ above ave volume support $$
  • 3/24: $MOBI – $11.52 was up 21.51% today on volume 495% larger than ave, blasting to an all-time high – accumulate $$

How I Trade – Audio Interview

The below MP3 file is an audio interview I did with Tim Bourquin back in February 2008 for his site, Trader Interviews. The interview lasts about 20 minutes covering topics such as how/ when I started trading, the types of fundamental screens I use each night and the types of charts I study each night for the stocks I am studying to buy and sell.

Click here to Play the Interview:
042111_Trader Interviews 2008-02-28 Trader

I listened to the interview last night and I can tell you that nothing has changed in my trading style since 2008, as far as the core foundation is concerned.

Screens and items I talk about in the interview and still use today:

Enjoy and certainly let me know what you think!

Show notes: Chris Perruna is a part-time trader who holds positions from three to nine months at a time, looking for larger moves in stocks he chooses based on a popular trading system from a leading market newspaper. Here we talk about the three stock screens he uses each night, why he likes stocks that are about to bounce off their 200-day moving average and why he, even though he is a longer-term trader, will get out of a position the same day if the trade isn’t working out. Chris’ blog can be found at: ChrisPerruna.com.

Note: In the interview, I say the words “daily charts” twice when I meant to say “intraday chart” and “daily chart”.

I look at the intraday chart, daily chart, weekly chart and point & figure chart for each stock I analyze (nightly).

NOTE: In the interview, I suggest that my screens are showing red flags as they are very weak. Well, the NASDAQ $COMPQ dropped more than 40% over the next year.

Sour Apple?

Apple $AAPL is up more than 4,300% since March 2003, the beginning of the bull market following the stock market bubble burst (post 9-11). The stock is up slightly more than 1,200% since I started covering it online (my blogger blog which pre-dates the blog you are reading).

I have owned APPL on multiple occasions over the past 6 years but I wish I could sit here and write to you that I was a holder the entire time (my gains are just a small slice of the longer term buy and hold pie) . I wasn’t a 1,200%+ gainer but I was in and out while taking profits on a yearly basis back in the mid to late 2000’s. Below is an example of yearly posts I made about Apple or as I called it “Green Apples” due to the fact that it was a cash register stock.

So, with all that praise and the massive gains, am I really turning bearish on the stock? Is Apple starting to turn sour? Well, not so fast but some minor red flags are starting to show up. Take a look at the charts below which highlight the lower highs and lower lows.

January 13, 2005: Green “APPLE”s

“Apple (AAPL) first showed up on my weekly screens on 10/24/04 at $47.41. Since this time, Apple has made the daily and weekly screens numerous times.”

January 17, 2006: All-Star Stock – Digesting Apple

“Apple has been on my screens for 15 months and has been in my portfolio on two separate occasions over those 15 months.”

January 10, 2007: Apple Inc. is Still Green

“What can I say; the apples keep getting greener!”

November 29, 2007: An iPod touch from Apple (AAPL)

“A new high and a move above $200 per share will be very bullish and a signal that this stock may have another run regardless of what the major indices do.”

Apple is still trading above the 200-d moving average and has not violated any long term trendlines so please do not short at this time. You may cash in shares and start to trim back your position by selling but I don’t advise going short just yet.

The ideal position to sell short is after a move below the 200-d ma when the stock tries to break back above but fails – that’s my sweet spot.

Goldman Sachs set a price target of $430 but I don’t listen to these “talking heads”. Another interesting fact: “Nasdaq OMX plans to announce a rare rebalancing of its Nasdaq-100 index, which will reduce the big weighting of Apple, which currently makes up more than 20% of the index.” – WSJ

As of today, April 11, 2011, I suggest cashing in some shares. A further drop and I suggest selling more shares. I wouldn’t even consider the word “short” until the stocks closes below the 200-d ma (trend trade of course – not day trading).

Let’s see if this decade long “Green Apple” turns into a “Sour Apple”.