Are you building strategies and trading based on 1 specific symbol/asset, or do you have a wide criteria, where you run it across the entire market to find potential candidates ? REALLY CURIOUS TO KNOW.
I find a set of assets such that each asset is correlated with every other asset in the set below a threshold as in this post.
Out of 10 ooo names, selected 3000 and then down to 500. Later on as the skills improved, chose another 700 names, thus there's the watchlist. Checking from time to time, just not to miss the opportunity cost. Checking daily, when there's free funds to be used. Meanwhile average retailer will focus on few, best known names, where's hundreds of thousands, other people, like him (if not millions), dream about, getting rich. Quick.
By feel, anything that moves, like my girlfriends or hookers. I wish I was smart enough to develop a system because like my dates, my trades are not always pretty.
Tnx for the answer ! Can you elaborate more on the criteria ur using to scan through the stocks ? And also - regarding your process that you outlined - is that done manual / automatic / by a software ? Would love to know more details !
My girlfriends or escort dates? Usually drunk so it’s a crapshoot! Momo, high energy call option-putv, social media going nuts or low float-Vol exploding like Redbox, N
Why 2 threads in 2 days with the exact same headline and opening question? I've been Trade Ideas for about 15 years to scan. Not giving criteria.
I don't trade stocks these days just forex and the occasional index. However, I have traded stocks and the basic approach would be the same to what I do now. I scan the 28 main pair price charts and eliminate those without my defined set-up. I have already graded the pairs into majors, minors and Australasian in order of preference for positions - the majors are best to hold as they're less volatile, their spreads are narrower and margin requirements lighter. I put a warning marker against the pairs with potential reversal signals recently printed - for example a bullish candlestick / bar or series of bars in a downtrend. By the time I have got my orders in for the suitable majors which lack warning markers there might only be a few minor opportunities - I don't really like to have multiple open positions all short or long on the same currency. The Australasian positions will be few and far between (apart from perhaps AUD/USD, classed as a major).