Today I use an ever-evolving method to trade the stock market. I’m trying to find shortcuts and discover whats an effective use of my time. There’s a lot going on during most trading days. Focusing my attention on everything at once just doesn’t work for me. To help me keep focus, I’ve created a number watch lists.
Any day trader will tell you that it’s all about doing your nightly homework.
As I’m looking for setups each night. I need a place to record the ticker symbol of the stocks I think will be in play the next day. The first watch list I create is my Finviz list. Here I’m searching for chart patterns that look like they’re about to breakout.
Next I check Benzinga Pro to discover stocks that have beat market expectations and others that are trending. I then begin looking at a number of websites to check for pre-market gappers and other stocks with heavy volume.
Stock market bloggers, gurus and those I follow on Twitter using TweetDeck provide another list of ideas, setups and possible plays. I tend not to put much value into plays I find from people online. I use this watch list more as an indicator to show me the most talked about stocks.
I use TC2000 Gold to scan for plays throughout the day. This is where I create my watch lists. I find myself starring at the following screen for most of the day.
Using the Benzinga real-time audio alerts, I’m able to stay up on top news stories as they break. Scan conditions like the 13 EMA over 50 EMA help to show me possible setups as the day wears on.
For an end of day stock market recap, I tune into Gary K’s Investor’s Edge nightly talk show streamed over the Internet and through iTunes. He interprets the headlines, International affairs and active stocks only as a Professional Money Manager could. Gary is a regular contributor on Fox News, Fox Business and other national media outlets. His radio talk show is easy to listen to and it makes sense.
I’m 100% certain that my trading style and daily routines will be improved upon over time. This is what I’m doing now. 6 months or a year down the road, I maybe doing something completely different. What I’m doing works. I find a lot of good plays as they’re unfolding and before the price action heats up.
Click on the link to view all of our Finviz Stock Scanners.
Do you have any daily stock trading routines that you think others could benefit from? If so, please add them in the comments section below.