1. I have extensive stock watchlists based on tickers I have either played in the past or have been watching with the intent of playing in the future. Especially with options, it is hard to jump into a stock not knowing how it acts.
📚Thread: How I Make Watchlists📝
There are countless ways to make watchlists. Each trader looks for particular things in a setup that fits their style. There is no science here. My goal is to share a simplistic strategy on how to become SELF-SUFFICIENT with watchlists. 🤝
1. I have extensive stock watchlists based on tickers I have either played in the past or have been watching with the intent of playing in the future. Especially with options, it is hard to jump into a stock not knowing how it acts.
Start with sector watchlists. In addition, have one "general" watchlist with assortments of familiar & trending stocks
I look for charts with significant breakout or breakdown potential. If it is easy to identify both
Knowing when to enter and exit trades independently is the key to being self-sufficient. I try to keep it very simple when it comes to entries and exits.
Wait for confirmation over your trigger level - I use 5min candle. If you enter after confirmation and it falls back below resistance, cut and reassess. Wait for the break, do not try to call the break.