what is your homework ritual?

Discussion in 'Trading' started by daytraderpete, Oct 16, 2003.

  1. This question is for intraday stock traders.

    What is your daily method of scanning for tomorrows set ups to watch?

    I have a layout of 3 charts on esignal that has daily/60min/15min.

    I go through my universe of about 200 stocks, each chart is linked so each time frame comes up at once for the stock. Looking over chart patterns and tends, I look for potential longs and shorts and go into the next day..............

    "QCOM is in a downtrend, short first 5minute bear flag."
    "AMZN is strong, but first bullflag"

    What re your methods?
  2. ...I usually get drunk the night before, and/or test (invariably) stupid trading ideas. Since I trade the same three mechanical systems every morning on the same issue, my "homework" is limited to doublechecking their optimization every weekend and making slight parameter adjustments to take care of volatility changes. The life of a mechanical trader is so dull, no decisions to make.
  3. I feel sorry for you that your life is that boring that you would actually take the time to type this response
  4. Boring is in the eyes of the beholder.
  5. I think.
  6. Scans on TC2000 designed to isloate new highs, lows, HI RS issue, and other criteria, like strong volume, big gainers, big losers, scroll thorugh about 200 active stocks on a watch list, go through other watch lists, examine breadth indicators, index charts, % of stocks over certain moving averages for certian groups like Russell 2000, NYSE stocks.

    The purpose is to 1) keep a finger on the pulse of the market,
    2) Detect any undercurrents
    3) reveal stocks setting up in classic patterns.

    It's easier in a bull mode than a bear mode.

    I sometimes watch a stock for days even weeks waiting for it to setup.
  7. c_verm


    I do a few things that prepare me for the next trading session.(Daytrade NAsdaq stocks only)
    After each day I look at the volume for the Nasdaq, Put/Call ratio. Vix, Aslo look at support and resistance levels for the NAsdaq. This helps me get a better unerstanding of which way the market will more next. This is my after market homework.

    Pre Market in the mornings I sit down at about 9am and look for stocks in the most active, bighest gainers & losers. I then write down those stocks and watch them for the day and only play the stocks with aproriate volume. This seems to work very well for me.
  8. C VERM

    You mentioned to me about volume in another thread. Exactly what does your volume signal look like.
  9. Pete,

    Did you get the PM that I sent to you ?
  10. no but i'll check
    #10     Oct 17, 2003