All of my January weekly trades returned a profit. The whole purpose of this website and this trading plan is to allow the user an opportunity to make extra income with little time and capital requirement. We use a trading account of $2,000 only risking $1,000 on any one trade.
The stock sorting software picks the top 10 stocks on the first trading day of the week, based on criteria I want. In other words the best of the best. My January picks were Wells Fargo, Schlumberger, Western Digital and Marriott. These stocks were picked because they were all in a 65 day uptrend. Stocks very seldom go straight up or straight down, they usually move in a saw-tooth pattern. So it is not uncommon for a stock to be in a long term up trend but a kind of pullback in a shorter (10 day) period. However these stocks were in both a long term and short term up trend. These stocks also trade in the hundreds of thousands or more shares every day which provides plenty of liquidity. The software program I use identified these stocks in a matter of seconds.
A quick visual of the chart of price activity on these stocks let me know whether the odds are the price will continue to go up or pull back. Depending on that analysis, I will either place a Bear Call Credit Spread if I think a pullback will happen in the next 4 days or a Bull Put Credit Spread if I think the price will continue moving up over the next 4 days. Either way I shoot for a $0.30 credit or a $300.00 on the $1,000 needed to initiate the trade.
All for trades for January were profitable grossing $1,200 never having more than $700 at risk. An extra $1,200 a month would go a long way towards supplementing many household budgets.