It is impossible to have a good understanding of all the stocks in the market, so I think it is best to just build up a watch list of about 30 stocks. Somtimes you add a few, but you should delete some to keep the number about 30.
That way you get a feel for what the company does, how its shares trade, and when to act.
I think it is also a good idea to pick stocks which have a history of reasonable volatility. Not much point in watching FGL, because it doesn't move enough to make it all that worthwhile. (I am sure somebody will disagree with that, but it's only my opinion).
I read somewhere about how the risk in investing drops as the number of shares owned increases. It only takes a small number (say 10) to reduce the risk to a low level, providing the selection is diversified. Then all you have to do is watch the indexes as well, to get a feel for the overall market risk.
The other comment I could make, given five years of hindsight, is to not try and pick the intermediate highs and lows. Anyone who bought virtually any small mining stock a year ago would have doubled, tripled, even ten-tupled their money simply by holding on. Much better than bank interest, or managed funds, or investing in heavyweights, etc.
And if you are happy with the profit, then sell and wait up to five years for the next down-turn to bottom out.
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