Hey Guys,
The market is still hovering at these highs after Friday's burst upward.
Unless one of my positions hits a profit target, I won't be entering a stock trade today due to limited buying power. My portfolio is jam packed full of positions. It turns out no stock trades have set up yet anyway as of the time I'm writing this. I might do an options trade if one sets up since they require such a minor amount of capital.
It's worth pointing out that in different market conditions, I am able to hold different amounts of positions. I remember back when the market was volatile, at some points I had 14 different stock positions. The reason is because I base my position size on my stoploss, and my stoploss is based on a metric called ATR (which is a measure of volatility). When price activity for a stock has been relatively quiet recently, it might have a smaller ATR, which means I have to buy more shares and a bigger position size for a loss to equate to 1% of my portfolio. So in quieter times, it's typical that I can't hold quite as many positions as I could during volatile times.
If you are not holding as many positions as me and you have spare buying power, you can always keep an eye on my Watch List and specifically at the second table where it shows the list of trades that triggered. That way you can see which trades meet my stock trading strategy criteria each day, whether I trade them myself or not. Those are ones that I would be happy to buy myself if I had the buying power.