Thanks @rmrm06 you have given me a fresh perspective to not chase the daily runners rather watch a small set of shortlisted stocks and time your entry based on their action on the day - good point gives me a different perspective and might be more suitable to my ST approach. Thank you!
You have asked me about my ST plan, well let me start by saying that I am new to trading just a few months old (5 months to be precise!) however because I come from a strong business consulting background (worked for many a major companies around the globe as their Business Consultant recommending enterprises on their e2e business model on a freelance basis), so my background and experience gives me a strong sense of good stocks out there, I am especially keen on small caps and always diversify, my favorite being IT/ Tech, Biotech/ Pharma, Materials/ Mining in that order...I look for de-risked stocks with strong potential and maximum reach (max reach is very important, example APT, Apple, Amazon all had max reach) I then utilize that knowledge to my advantage in picking the best companies out there for the lowest possible price...like to keep it simple!
I'm a firm believer that once you have done good research on the business model, their product line, balance sheet (debt/ cash on hand etc.), active management/ team, looked at their charts (short and long-term view) and bought a stock for the lowest possible price then it most often than not goes up, I don't fuss if it goes down for a day or week as eventually it has to go up!...some go up slowly and some swiftly but most do go up eventually, remember the saying all good stocks ONLY go up and the saying stock market transfers money from the impatient to the patient - I can add a long list of my stocks almost all doing well except a couple including SVD which I am caught at but haven't sold SVD yet, I still believe one good ANN will change perspective on SVD!!
The above ST approach has worked quite well for me so far, fingers-crossed for the future though!
!
