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Zecco.com » General Investing » Screening & Picking » Picking stocks.
Last post 05-11-2008, 1:24 AM by jackg1606. 3 replies.
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  •  05-08-2008, 6:00 PM 28756

    Picking stocks.

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    From what I've seen and read information seems to be the key to making good choices in trading. Right now I am using yahoo finance to find stocks that are moving on that day. the problem is once I get the news the stock has already made its move. How can I get cureent information so I may keep up with the market. It sucks being the last guy in the party everytime. :)

  •  05-08-2008, 6:20 PM 28757 in reply to 28756

    Re: Picking stocks.

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    Study macro economic conditions effecting the market and review the $SPX (SP500) chart daily.  Create a watchlist of stocks to follow.  Learn charting indicators such a the MACD, RSI, Force Index, Volume, and Slow Stochastics.  Get an understanding of investor psychology, areas of support/resistance, trendlines and moving averages (mainly 50 period and 200 period).  Look at charts using multiple time frames (monthly, weekly, daily and intraday).  Do this and you will be right on time to all the parties.  Do not put too much focus on financial ratios and earnings reports......they don't matter.  Do not hold a position in a stock which is causing your account to lose value.  Sell it fast!!   Money can be made by being either a bull or a bear.  Don't limit yourself to being one or the other.  Only enter trades when the odds of success are stacked in your favor and if something negative to your trade happens you didn't expect....get out fast!     Learn to manage your cash.  This is all it takes.

  •  05-10-2008, 6:00 AM 28850 in reply to 28757

    Re: Picking stocks.

    Reply Quote
    Thank you jack this information is quite helpfull. Just 1 more question I  am also interested in swing trading, would these indicators work well with swing trading or do you recommend other indicators for swing trading. TIA

  •  05-11-2008, 1:24 AM 28876 in reply to 28850

    Re: Picking stocks.

    Reply Quote
    I'm a swing trader and use these.  They actually can work in any time frame.  Here is a website you can visit which lists many indicators and gives a description of each of them.

    www.mrswing.com

    On the website look under technical analysis on the left column.


    A fewother important things to remember... never use just one indicator as a buy/sell signal.  Your odds of success are greatly increased when multiple signals are in alignment.  Also, it is good to watch CNBC to keep up with current news but realize they are bullish 99% of the time.  Use your own judgement regarding economic conditions and don't fall victim to their constant bullish sentiment.  Regarding charts, don't use a cheesy chart.  Metastock has great charts but can be expensive.  A nice alternative can be found at stockcharts.com.

    There are several good books on the subject.  Here are a few....

    Come Into My Trading Room - Dr Elder
    How To Trade In Stocks - Jesse Livermore
    Profitable Candlestick Trading - Bigalow
    Technical Analysis Explained - Pring
    Short Term Trading - Turner
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