Its been a few trading days since I last posted so I'm putting up today's results. Lately, I have been taking what time I have available for trading to study more than trade. That is, I have been doing intensive investigation into S/R as it relates to changes of direction in price. We'll see if it yields any results. The jury is still out. I continue to press forward, even when the outcome is uncertain. With 20 years to go before retirement, I feel like time is on my side.
Nice catch on the action! Silly me - mind if I ask what S/R is?
ReplyDeleteJust curious re. your screening methods as well, is your list dynamic?
DTF-
ReplyDeleteS/R = Supoort/Resistance.
I don't have anything sophisticated for screening. I have a portfolio set up in QuoteTracker of about 25 stocks that tend toward high ADR. Then, I set the list to rank those stocks according to how much they've moved at that point of the day. Obviously, there are many stocks which a re great movers in a given day which won't be on my list. Interactive Brokers has a screener which I use occasionally and when something looks interesting, I'll throw it onto my Quote Tracker list and see where it fits in with the "movers" I follow already. Because I am still practicing this art and not trading for money, I am not as tuned into getting the absolute best stocks on a given day. I am simply trying to get a few which move enough to allow me to practice. I am more interested in fundamentals than anything and I don't have to be too picky about the stock I choose. I do it this way because QuoteTracker is a free platform. Ideally, I would want to use a High Of The Day/Low Of The Day scrolling screener which could be customized to allow certain criteria and weed out some of the stocks I'm not interested in. This screener would reveal at a moments notice the stocks which are really "screaming." But, platforms that offer that kind of a perk are expensive... and I'm not at the level yet to require it.
My current set-up costs me nothing per month to use, other than the interest lost by having money funding my IB account.
Thanks for the insightful response - above and beyond the call of duty! Much appreciated!
ReplyDelete