How to Stop Missing Trades
1. Build and Maintain Watch Lists
One of the lists I enjoy building, actively maintaining, and reviewing once a week is a “Universe List”. This is a catchall list that houses every stock that I’m interested in for one reason or another. Maintaining and reviewing this list consistently every week keeps me in tune with what each of the stocks are doing. There are typically about 100 stocks on it at any given time. It only takes a few minutes to scroll through each of the charts. I find that it is well worth the effort to keep a pulse on what I feel are the most interesting ideas.
I’ll also keep separate lists for where the ideas came from. For example, I’ll keep lists of what passes our ChartYourTrade MRI scanner by 80% or more on a separate list because these stocks have shown to have a greater probability of producing a significant run after having passed the scan. Check out the 2016 case study here (2017 case study will be coming soon).