Seeking out possible trade opportunities ?

[eezy$peezy]

This question is sort of cross referenced to a query i put up on the Software forums under "ShareScope" to which i see its had a few views but no reply as yet !

My dilemma is this...i have a health disability and thus cannot sit hours on end at my PC (in simple terms !). I would most probably be an EOD trader.

How do you go about seeking out possible trade opportunities ? Do you click through page by page of charts in your portfolio? This to me can seem to take a lot of time....which i don't want to be doing of course.

Any advice on how to effectively search out possible opps will be appreciated.
I mean narrowing it down to a few shares/stocks that i want to be looking at.

 

[RUDEBOY]

You have answered your own question.....you just don't realise it?

 

[techst]

'This to me can seem to take a lot of time...' I'm afraid trading isn't easy. There's no shortcuts to becoming a consistently profitable trader. Hours of hard work are required. EOD is a good way to trade. With this style you wont be tempted to put on trades when the market is open, because hopefully you'll be looking at stocks in the close and preparing for the next day.

What stocks are you looking at? UK? US? I personally did search the stocks manually. Looking for good early trending stocks with nice swings that have room for you to make a profit. This search did take long, but it was worth it. The next stage is to pick the stocks you like (whether from a fundamental and/or technical view point) and put them into a watchlist. I have created mine in excel, and update it daily. If its a stock that i wanna get in to and I'm waiting for the beginning of a move or a signal to be confirmed, then I'll mark with a letter A and a colour. This helps to narrow your focus. You'll only have to do a big search once in a while. Try to follow maybe just 20 stocks at first. And then build on that. But of course this does depend on your trading style and strategy.

Trading will take alot of your time if you want to reach a solid level of performance. Discipline and hard work is the minimum your gonna have to give in order to get where you want to be.

 

[eezy$peezy]

@ rudeboy,

I know exactly what you mean lol !

The thing I suppose is i was hoping for an answer to my more direct (& relative) question that i put over on the Software forums (see "ShareScope sub forum).

I was wondering if SS has the capability to trawl through a shedload of given ticker symbols and throw out ONLY those that had met my given criteria.

Maybe i'm just being hopeful and expecting too much from that particular software (or be it any other software) to perform this type of request.

But, thanks for pointing out the obvious anyhow !

 

[eezy$peezy]

techst@,

Thanks for your reply.
I'd probably be looking at a mix of UK and US shares as well as indices.

I must admit to both you and rudeboy that i'm at a stage of having just perused 2 different trading courses that i purchased awhile back. So any knowledge i plan to put to use has been mostly put together because of them.

I suppose, quite innocently, i may be asking stupid questions but it was something that came to mind since and that was - not much is revealed in either of these two courses about the topic of "searching out opportunities".

I suppose there is no majic trick and its just plain old fashioned hard work. I'm not adverse to that; i just was wondering with all the fancy software programs out there (all of which i've yet to see and/or test) could any be used as search tools for finding trade opportunities if you set them specific criteria.

That's basically what i was on about.
Thanks anyhow

 

[RUDEBOY]

No question is ever stupid, and we all have our questions. What i will say is this......i make a considerable effort not to take the Mick. RUDEBOY.

NEVER, rely on anybody.....but yourself! Take note, listen, learn and watch. But always decide for yourself! RUDEBOY.

 

[jimmy1jag]

This question is sort of cross referenced to a query i put up on the Software forums under "ShareScope" to which i see its had a few views but no reply as yet !

My dilemma is this...i have a health disability and thus cannot sit hours on end at my PC (in simple terms !). I would most probably be an EOD trader.

How do you go about seeking out possible trade opportunities ? Do you click through page by page of charts in your portfolio? This to me can seem to take a lot of time....which i don't want to be doing of course.

Any advice on how to effectively search out possible opps will be appreciated.
I mean narrowing it down to a few shares/stocks that i want to be looking at.

There are scanners out there which you have to define your filter criteria for them. They will through up lists of stocks matching these criteria. If you type "scanners" into the search part at the top of this page, that'll come up with some results for you. This is just the start for you though. www.stockcharts.com and www.prophet.net may help.

Also type "stock scanning software" into Google and see what that comes up with. Obviously disregard the police scanning and bar coding references!

Nevertheless, you need to spend the time learning the pattern(s) that may provide you with high probability trades according to your personality and (matched) trading style.

Of course there is stacks more to this, and you will find many other signposts on this site. But time, application, dedication and hard work are but a few prerequisites!

 

[JumpOff]

My dilemma is this...i have a health disability and thus cannot sit hours on end at my PC (in simple terms !). I would most probably be an EOD trader.

Modern flat panel monitors are very lightweight and can be mounted almost anywhere, like on an overhead rollaway telescoping arm - the kind a dentist uses to adjust that darn light they shine right in your face... (same with a keyboard). Could you lay in a comfortable reclining chair looking at a monitor for several hours, if were comfortably positioned in front of your face? Even if you are not day trading, I don't see how to avoid quite a bit of screen time...

JO

 

[eezy$peezy]

@jimmy1jag,

Thank you.....
scanners, i'll check that out.

@jumpoff,

The impression is ... a lazy git; i know :cheesy:

A laptop pc is what i actually need and will be got in due course !