I think I will start concentrating more on the mid caps myself.
I have 6 stocks that I have been paper trading all year, all mid caps, and I would have done much better trading these according to my indicators and trading rules, rather than trying to keep up with the day traders. It takes one hell of a lot of concentration to keep an eye on 3 screens, what with charts, watchlists, news, HC etc. To be honest, I found it easier when I was in hospital with just my humble laptop and phone, did probably better than I am now.
I use Incredible Charts for my evening/morning scans, and it usually throws up 6-12 stocks each day. These are my parameters.
If anyone has any suggestions for any changes to these would be appreciated.
I can quickly filter out those that do not look good on the charts, but I can still end up with 6 or so stocks. I am battling to follow the ones I hold, let alone adding more. The ones that are left after vetting I am still not sure which ones to buy. For example PTX came up two days in a row and I still never got on until late yesterday!
I still seem to be following retail, rather than wholesale as I should be. Still finding it hard to find support/demand and resistance/supply zones.
@Patterns is a help but in most cases those zones on his charts are miles away.
Even after all the education and time, still a million miles from trading profitably and consistently on a daily basis.
Would love to be able to sit and watch a real live trader. I think the ones online are all setups.
Cheers for the rant.
P.S. Once I have held a stock for a while, such as those on my paper trading list, I can almost get a feel on where they are going, currently doing this with TTB, which I am way in front with.
