I was quiet busy for sometime now and could not make posts here. This happens usually when I am busy with work or when I am trying something new on the market. Well this time it is both.
I found some interesting ideas on http://www.swing-trade-stocks.com/ and did back testing and live trading. It is just over a month and the results looks promising. Any way, proper money management is the key. I will write an update about this later.
I have updated the portfolio also. I haven't done quiet a lot of trading during this time. Most of the stocks did well during this time, so I just purchased few more. I have opted for a fixed brokerage scheme with my broker, so I have to do a minimum amount of trading every quarter to take advantage of the schemes(One of the ways they make you trade more!) . Apparently when the market went south today, most of my stocks fared really well. I see it this way. My stocks are stronger than the general market and in my experience, if market continues to go down for another 2 days, these stocks will also give up and starts sliding down. That doesn't mean that I sell them today, Patience is the key here. Wait till it hits the stop loss, ignore everything else(financial TV, News paper, index etc)