LONG Shipping Stocks

26 בספט׳ 2023

Shipping stocks Move. INSW LPG TNK DHT TRMD

Reasoning

• Whole Industry is moving!
  
• Consolidation seems done
  
• Correction is not overextended
  
• Good Relative Strength
  
• Great earnings
  
• RSI tested bullish range multiple times
  
• Multiple Bullish Days
  
• Always try to use 2 timeframes
  

My Would Be Trade Plan

• - Try to get into 3 stocks in the sector that are moving. You MUST enter the leading stock INSW because the leading stock always moves 50% more than the second stock in sector
  
• - Initially risk 0.5% of account.
  
• Double original position once stock moves 3% in your favor.
  
• Add to position when stock moves moves 3% in your favor. (6% from buy point)
  
• - If Position moves 20% in less than 15 bars, sell at 7ATR from initial buy ELSE Sell at 4ATR from initial buy
  
• - Raise stop to entry when stock is 10% in your favour
  

Main Sources of My Knowledge

• Mark Minervini
  
• Constance Brown
  
• William O'neil
  
• Speakers on Trader Lion Youtube
  
• Adam Khoo
  

My Indicators

14 Period RSI.

• 9SMA and 45EMA Moving Averages added
  

Composite by Constance Brown

• This is for catching failures in the RSI.
  
• The RSI is a bounded indicator so sometimes fails to catch divergences. This indicator helps show that
  
• Composite Settings
  
• Author : Constance Brown (Connie Brown)
  
• RSI Length : 14
  
• RSI Momentum Length : 9
  
• SMA Length : 3
  
• Fast Simple Moving Average : 13
  
• Slow Exponential Moving Average : 33
  

14 Period MFI.

• 9SMA and 45EMA Moving Averages added