Thanks Kacy, Highlandlad and all the regulars who help out others on this thread.
I agree that information overload can be a problem.
This usually occurs when the market opens and i have scribbled down 5 or 10 stocks to potentially buy on the open. Which ones do i choose? It's virtually impossible to track all of them (especially if they open at the same time - for instance if the stock codes are all beginning with letters a or b and open at 10am). I might type in an order for one stock, see the market depth change, decide on a different selection and end up missing them both.
I recently started using a second monitor which has got my eyes wondering all over the place. I've got around 60 stocks on 4 watchlists instead of 30 stocks on 2 watchlists. The stocks on 2 of my watchlists are ones that i am familiar with and are tradable, 1 watchlist is for stocks that i know but are not really trading stocks and the other is for trading stocks that i am unfamiliar with. I haven't decided whether it's a good thing or not yet. Below the watchlists are 5 stocks with depths showing and a box with announcements.
That is my set up basically.
I use webiress live platforms through comsec and nab and also have an active account with igmarkets.
I use nab for most of my trades between $10000-$27000 (as the brokerage is $19.95 after the first 5 trades per month). I use igmarkets or comsec for trades mostly below $10000. igmarkets don't allow you to trade on companies if they have a market cap smaller than $100m or thereabouts. Brokerage at comsec is $19.95 below $10000 and igmarkets is $8 minimum up to $8000 in value.
If i don't know much about the company i'm trading, i have a quick read of recent announcements, have a quick look at the charts and market depth and see whether there has been any discussion about that stock on HC. I also check the market cap/ shares on issue and try and look at an appendix 3B to see if there are any escrowed shares or options on issue.
I find the daytrading thread great as a backup if i don't have many ideas and also as a place to pick up useful tips from those more experienced than myself.
- Forums
- ASX - Day Trading
- daytrading for dummies
daytrading for dummies, page-25
-
- There are more pages in this discussion • 37 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
1CG
ONE CLICK GROUP LIMITED
Mark Waller, MD
Mark Waller
MD
Previous Video
Next Video
SPONSORED BY The Market Online