After learning TA I am still confused how to find right stocks to day trade. Is it a constant watch list of 10-20 stocks? Is it a scanner? Thank you all for your help!!!
start by looking in the newspaper for the list of most active stocks. Find the stocks in the list you like. Start trading a few. Then learn what other stocks are in the same industries. Developing a list of stocks to trade is the easy part. You will figure it out. Peace, rs7
It's an incredible effort, and an ever-changing one at that. Right now, a good start would to be to pick the leading stock from each key sector (BKX, XBD, SOX DRG, HCX, CYC, MSH, RLX..etc) and just trade those for awhile to get a feel. Another good idea is to sort your fixed indices and correlated stox by % change from best to worst, as this will tell you which stox are out-perf/under-perf (vs SPX), thus letting the market dictate where your focus should be. Good luck/trading David
Yes if you are beginning, which I am assuming you are. Recall that specialists and MM trade only a handful of stox, you can do same. Best, David
learn how they move -- when you become proficient -- trade in mega-size. use TICK, TRIN, SPOOZ, and your 6th sense for timing. execute your trades via ISLD or ARCA. lather, rinse, repeat. dump losers almost immediately. dog
One strategy is to just trade an ETF based on a stock index such as SPY, or QQQ. While you might not get as many opportunities to trade, your attention will be more narrowly focused while you learn to trade. Good luck