Watchlist Building
Profitable traders spend most of their time building strong watch-lists. It’s a fact that everybody knows, yet very few traders take the time to build an effective watchlist. Oh sure, we all have a watchlist, but most people just pick the famous names, hyped stocks on twitter or the stock their friends are trading. If you do that, you are trading from a list of low quality stocks and setups, therefore your results are likely low quality as well.
So how do you actually become profitable and build a strong watchlist?
Don’t worry, I’m here to help.
In today’s video I show you exactly how I build a strong trading watchlist. We use a systematic approach that follows that boils down to these 2 simple steps:
- Pick the strongest sectors
- Pick the strongest stocks within the sectors
It’s that easy, yet few do it.
Now their is more that we have to consider, like float size, short interest and patterns, but if you keep this two points in your head at all times, you will instantly gravitate toward the best stocks.
How the Swing Trade Report Helps:
I hope that learning the 7 habits of effective part-time traders has helped you focus on techniques that will improve your trading. I’ve designed my swing trade report to help those who are new to part-time trading avoid the hurdles that held me back for years. First is the education. As I mentioned above, it’s easy to collect “trading trivia” that feels valuable on the surface but is functionally useless. The strategies that I use and teach have zero fluff. If something isn’t useful in the real world of trading, I don’t include it. As someone engaged in part-time trading, you must focus your limited hours and mental bandwidth on what is most useful, and my report will help you do that.
One of the biggest mistakes I made as a new trader – and it’s one that almost all new traders make – was not managing my risk properly. It’s important to understand that the way a day trader and a swing trader manage risk aren’t identical. When you are part-time trading, you can’t sit and watch every tick of a stock. Some stocks that would be fine to day trade are simply too volatile to swing trade safely. I curate my watchlist with this in mind, leaving out the craziest momentum stocks, while keeping huge movers like $FCX (19% gain, 3-day hold), $UCO (27%, 2-week hold), and $NUGT (24% 2-week hold). When I alert a stock from my report, you run little risk of missing the entry and chasing, and you won’t have to be worrying that it will make a drastic move overnight.
The swing report will help you gain confidence as a trader. Rather than trying to piece together something that works from a random collection of books, forum posts, and blogs, you’ll get one concise, cohesive report that gives you everything you need. No more jumping around from one system to the next. No more blindly following the latest social media buzz. You’ll earn your confidence as a part-time trader one successful swing trade at a time.
