1 new questions:
1) Minimum number of days (Pivot Point)

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The last week was a great example why I always say: You watchlist and portfolio is the best indicator or index! If everything on your watchlist looks great and set up, there is no reason not to trade. Leading stocks can explode to the upside while the indices are going sideway.

While the most indices are hovering around their 200 EMA, the NASDAQ is fighting with the 10k mark. We will see next week if the indices can follow through after the bounce this week. If not, you should be prepared that also extended leading stocks can correct sharply. Remember: A lot of people are sitting on huge gains in extended stocks in an extended stock market. You don't want to predict a correction, but you must be prepared to sell.

I extended my watchlist to monitor a broader number of stocks. I sometime do that to see what's going on in the market. But it's also a very strong market and a lot of stocks are in a strong trend.

This week I have 61 stocks on my watchlist, 20 more as last week.

In this very strong market, stocks are breaking out every day and hour. It's very challenging not to lose the focus and stick with your winners. Sometimes a position is moving up 10% in one day and you are maybe tempted to take profits.

The best approach is to keep your winners and don't buy or sell stocks every day for a small gain. It doesn't matter if you follow a trend for some days or some weeks. But if a market is very strong, it's more rewarding to hold your winners for a larger gain than usual. The last week is the best example for that. If you had sold every stock for a 5% or 10% gain, you missed the great opportunity to extend these gains to 20% or even 40%.

I sometimes tend to trade too much in and out of stocks. I call that the "dance with the market approach" to get into the best stocks. If a stock is not showing a profit after I bought it, I sell it and move my money into stocks which are acting better. After a few "dancing rounds", I moved my money into the best stocks and then I let the price run. With such a method, you collect multiple very small losses and produce some larger profits. Don't make the mistake with such an approach to sell you winners too early, because otherwise your profits are not able to make up for the small losses.

But how long to hold on to a winner? That's depends on the market, your approach and the stock. If a stock made a huge gain in a couple of days, there is nothing wrong to take partial profits and let the rest run. Or you sell the stock after you made a profit of multiple times your initial risk and move the money into a new, fresh trend. In such a strong and fast market, as we have at the moment, you can apply a swing trading approach to accumulate your profits faster.