does anyone here trade look at setups in the morning or afternoon and trade 4 or 5 different stocks at one time, basically diversifiying your trades, not necessarly trying to make money on all, but by having different more stocks or futures to limit their loses or maximize their gains?
I am swing trading using moving averages, ob/os indicators, volatility measures and volume trend info for setups. I prefer the 2hr to 180min charts and the cycles that show up on these time scales. Most stocks clearly follow the swings of the market but a smaller group is lagging and always setting up for an opposite turn. I have a watchlist of both groups and take positions in multiple stocks on both of them to spread risk. sometimes I lay off in the Q's or options if I can't find enough countertrend trades. Once in a while I go unhedged, long or short only. One can get an idea about the tone of the market just by keeping an eye on the proportion between these groups. I also keep an eye on the Alpha rankings of industry groups on barchart.com, especially the top 100 stock group and how it relates to the market (like a yoyo most of the time) and the ebb and flow of the daily breadth data. I trade higher Beta stocks so most of the time even if only one or two pop in the right direction I can do pretty well.