How many stocks do you follow?
- Thread starter listedguru
- Start date
2-4 "core" stocks, about 20 tertiary depending on the action, and a few "story" stocks
This is just an observation from my past, and may or may not apply to you.
What is the chance that you don't have a solid method for what you are going to trade nailed down? I used to look at tons of stuff, keep zillions of watch lists, read read read, but the real problem was my methodology was not well defined.
The solution for me was to lay out some general rules for myself about what I wanted to trade and accomplish with the trades. That allowed me to set up some criteria that was easier to digest and act upon. This also allows me to review lots of data, but filter out the things I am not looking for. This also takes some of the emotion out of the equation, both on the greed and fear side.
If your method is to day-trade one stock then maybe learn one stock and build from there. If you want to trade break-outs then set a screen for break outs. However, I would submit that if you are trying to do both then it becomes very difficult to act at the right time on either.
What is the chance that you don't have a solid method for what you are going to trade nailed down? I used to look at tons of stuff, keep zillions of watch lists, read read read, but the real problem was my methodology was not well defined.
The solution for me was to lay out some general rules for myself about what I wanted to trade and accomplish with the trades. That allowed me to set up some criteria that was easier to digest and act upon. This also allows me to review lots of data, but filter out the things I am not looking for. This also takes some of the emotion out of the equation, both on the greed and fear side.
If your method is to day-trade one stock then maybe learn one stock and build from there. If you want to trade break-outs then set a screen for break outs. However, I would submit that if you are trying to do both then it becomes very difficult to act at the right time on either.
I follow 20. Fifteen, I own in my personal account. I trade the other five.
Same thing here, i only trade SPY. Oh, and i'm only 20. So ,don't know if that old thing means anything. LOL.