Brexit, US elections, rates rise in Dec, Banking trouble, WW3 and so on..
Point is there is always something to spook traders & every spook kills momentum, $50 mill MC can wiped off a stock with only a few mill cos there is no one around to buy up. But as soon as there is a hint of confidence being restored, most of those stocks start flying like we seen after Brexit.
I've taken this time to research a few stocks with catalysts or trend in the near future but also being extra careful on making sure they are solid with cash, management, story ect, will buy what i'm comfortable with spending now as i think Friday the bottom was in on hype for the ASX... If the market is to go down from here, it would need conformation from macro events. I got no idea what is to happen when whoever gets elected but i can not see doom & gloom so i'm ready for a bounce.. All in my opinion.
Organisational Skills of the successful trader..
Every year i learn something new, i handled the down turn differently to the Brexit.. instead of being in a sea of red, trying to catch trades that made more red, i simply stoped buying & stared selling. I'm not sure if i can call my self a successful trader but to me i successfully reduced the impact of down turn & have saved my self a lot of cash.
But i guess the question is more for when the market is good.. I use a combo of pen, pad, memory, computer files.
View attachment 322697
Computer on the left has all my dally stocks that i'm interested in opened in each tab, the comsec tabs a already on the buy screen, everything filed out & ready to hit perches. Also i have one page that checks overall market & my portfolio, i don't usually stress about portfolio as the have stops on them. I check announcement page every 10-15 min as it takes 20 min from ann to trading resumes, i want to leave some time to look into it.
Computer on the right is strictly for comsec iress live trading
Pad in the middle of computer is for dally stocks i like for a trade or homework to do. Pad on the left is my black book full of codes in alphabetic order with some notes on the side.
I also have heaps of individual files on my computer about stocks, just adding info when i see something important.
My biggest down fall is that to trade, i need to know about the stock, sometimes by the time i've looked into it, it's already ran. But the more time i spend researching & over the years knowing stocks, the better i trade as i get to know more & more, and most starts to come from memory.
Thanks Arch, much appreciated.
