metropick ... I don't think this is a stupid idea at all, very similar to my own initial trading plan.
Mine went like this ... (don't laugh k?)
1. Over the weekend run scans, investigate movers, etc ... find a handful of goodies ... preferably breakouts.
2. On Monday observe which ones are showing strength, and diversify entire portfolio into 5 equally sized positions (hopefully getting in on dip soon after market open)
3. Set 8% stop loss for each. (so you're never risking more than 2% of the entire portfolio in any one stock)
4. Sell them all on Friday- no if's and's or but's.
The goal is to earn 2% a week. Compound that and you'll double your money every nine months or so.
10k doubled 7 times equals about 1.2 mil (minus commissions and taxes)
That was my five year plan to turn 10k into 1mil. I paper traded this plan for about three months and it worked flawlessly with stocks in the $10 to $20 range, any cheaper and you'll get stopped out too often)
But then I fell in love with pennies ... no stops allowed ... bummer.
Good Luck!! Study Breakout Patterns!! Be Consistent!! Get Rich!! Share The Wealth!! Be Happy!! Weeeeeeeeeeeee!!!!!!
