How you guys do it?

Discussion in 'Trading' started by Merc, Mar 24, 2003.

  1. Merc


    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!!!
  2. rs7


    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.

  3. 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
  4. Merc


    Is constant watch list is enough for day trading?
  5. 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.

  6. 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.

  7. fan27


    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
  8. :cool: :cool:
  9. nitro


    Blood, sweat and tears.

  10. Why not trade 500 stocks at once - there's always movement.

    Try the ES for fun and profit!
    #10     Mar 25, 2003