Thursday, December 9, 2010

The Daily Note - Watchlists

I thought I'd share my watch list with you today. Like all traders I too have a daily/weekly watchlist. What is unfortunate about them is that they tend to grow. As I add stocks that look interesting and that have potential for a move, soon the list grows to an impossible length unless it's managed daily.

The danger is that if we have too many on our list, we can lose ourselves in the watching and catch fewer trades because, unlike chasing a stock that is on the move, we tend to chase stocks for the move when the list becomes too long. Setting up alerts is one way of handling the signals but oft the stocks move at once so we are left with alarms going off and not knowing which one to attend first.

I suggest having several lists but to make sure that the possible players for the day get picked from those into a central list. It is a way of weeding and keeping your day manageable. So below is what I'm looking at for today. Hope it helps you to see a perspective of how and what some of us are looking for.

Happy Trading, Living and Dancing

The Daily Picks - Weekly Watchlist

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