Okay let’s get this show on the road! I’ve been making a lot of noise about my Payday Friday trading system recently and in case you somehow missed it all here’s the jiffy:
- We will be trading a basket of stocks each week.
- An entry report will be issued to everyone on Monday before the open.
- The report will be primarily posted to our online trading floor, which is available to all members, however it will also be cross posted to the blog.
- In this weekly report you’ll see a ranked list of bullish picks and bearish picks.
- Members will see all top picks, while non-members will see everything except the three top ranked picks in each direction.
- From those picks we only enter the top 5 ranked issues that do not gap at the open toward the anticipated direction more than 1% from last week’s close (no exceptions).
- Each entry report comes with precise entry limits for each issue so you don’t have to do the math. One penny beyond the entry limit means we don’t take the trade, even if it pulls back.
- After 5 entries have been taken in each respective direction we ignore all the other lower ranked picks. Quite often we’ll be trading fewer than 5 issues in each direction.
- Therefore the maximum trades that can be taken per week is 10 (i.e. 5 in each direction) but in reality the average is around 6 trades per week.
- How you trade this is up to you, but officially we’re buying and selling stock. Options trading strategies will be covered in much detail at a later date.
- All trades should be taken Monday near the open. Don’t try to time your entries, e.g. wait for a better entry. We enter after the open, period.
- We exit all trades Friday prior to the close (e.g. in the last two trading hours). We don’t recommend you wait until the very last minute and we also advice against waiting until Monday to close out your positions.
- Each Monday we’ll also issue an exit report as a handy overview of last week’s profits and losses.
- Finally a public P&L spreadsheet with all cumulative returns is available here. It will be updated every Monday after we issue the weekly entry report.
For a lot more details watch my Payday Friday deep dive:
Youtube Link: https://youtu.be/OuZUn6t-_1c
Again, please share, upvote, subscribe – all that good stuff 😉
Now if you’re interested in participating in our FREE beta then sign up here.
Full access to all weekly picks will be provided until 12/31/2023. This link will only be available this week, so grab your spot now.
That should give everyone enough time to kick the tires and see the system in action.
Okay, now with all that out of the way let’s talk numbers. And per Murphy’s Law last week of course was a loser:
Which however also tells you that there won’t be any sugar coating here. If we have a losing week we report it, just like we report the winning weeks.
I strongly encourage everyone however to consider the long term perspective of trading such a system:
As with any trading system worth its salt the path to success lies in consistency and in following the clearly defined rules.
Attempting to game the system somehow will invariably result in losses or missed opportunities over the long term.
Finally here are this week’s entries. GOOD means we trade bullish and BAD means we trade bearish:
Week #2023-40 GOOD Entry Report ending 2023-10-08 Ten entry candidates:
1. MO – Rank: 3.48 – Friday Close: 42.05 – Entry Limit: 42.47
2. BRK-B – Rank: 3.39 – Friday Close: 350.3 – Entry Limit: 353.8
3. FDX – Rank: 3.14 – Friday Close: 264.92 – Entry Limit: 267.57
4. PG – Rank: 2.68 – Friday Close: 145.86 – Entry Limit: 147.32
5. ABT – Rank: 2.59 – Friday Close: 96.85 – Entry Limit: 97.82
6. ADM – Rank: 2.25 – Friday Close: 75.42 – Entry Limit: 76.17
7. LLY – Rank: 2.21 – Friday Close: 537.13 – Entry Limit: 542.5
8. CME – Rank: 2.18 – Friday Close: 200.22 – Entry Limit: 202.22
9. XLV – Rank: 2.13 – Friday Close: 128.74 – Entry Limit: 130.03
10. GS – Rank: 1.63 – Friday Close: 323.57 – Entry Limit: 326.81
We only take the first 5 highest ranked entries with Monday opens below their entry limits.
Week #2023-40 BAD Entry Report ending 2023-10-08 Five entry candidates:
1. LQD – Rank: 4.68 – Friday Close: 102.02 – Entry Limit: 101.0
2. TLT – Rank: 3.03 – Friday Close: 88.69 – Entry Limit: 87.8
3. MU – Rank: 2.44 – Friday Close: 68.03 – Entry Limit: 67.35
4. IEF – Rank: 2.12 – Friday Close: 91.59 – Entry Limit: 90.67
5. ATVI – Rank: 1.68 – Friday Close: 93.63 – Entry Limit: 92.69
We only take entries on Monday opens above their entry limits.
I’ve posted them into the clear but starting next week the top three ranked issues in each category will only be visible to members.
So sign up now and you’ll be able to enjoy free access until the end of the year.