Tuesday, January 1, 2008

New Year, New Plan

Time to dust off this blog and put it to use.
I won't have access to funds for my regular trading account for the next few months until I have finished moving, but I still want to trade, since it is in my blood.
So, in the past week, I have come to the conclusion that I will swing trade stocks in my RRSP account.

The initial goal would be to make $2K per month. I believe that is a reasonable, realistic, and achievable goal.
For Canadian stocks, I am looking for at least a 2:1 risk/reward ratio, but for US stocks, I will need to have at least a 3:1 risk/reward ratio as the one of the criteria for selecting a swing trade candidate because of the extra fees charged for forex. Other elements of my swing trading plan will be revealed in the coming weeks.

I have included a link to my rrsp trading journal (at the sidebar) to keep track of all of my trades.

I have already made swing trades in AMZN, POT, and MA, but those won't count because they were made in 2007.

Release the hounds and let the games begin!

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