posted
I am working at becoming very organized in my trading and was wondering if others had tips or suggestions on how is the best way to organize scads of data on a frenzy of stocks. I have decided to only trades stocks within a small group that I closely monitor, and I will have a spreadsheet sheet set up for every stock. This group will be mainly sub penny. I have listed the information headings that I feel are relevant for each stock in my spreadsheet group. This spreadsheet is still evolving and I would be happy to share it with anyone who requests so (my e-mail is in my profile). I will have some automatic formulas for various ratios based on the best data I can find. I need to move away from speculating or even gambling and get more disciplined if I even expect to be able to do this for a living. Since I can not devote full time to trading, and I cannot possible know what is going on in the entire market, I have decided to focus more narrowly so my time allocated is most effective, so that I have a compressive understanding of the stocks that I trade, so that I can move the odds in my favour and consistently make profit. I hope to find others in this profession in the same boat as me so that we can work together and develop good strategies and techniques.
To start, I was hoping that some of you could post on how you organize the various data on the stocks you trade. Do you use spreadsheets? Do you make sure you have some sort of data file on a company before trading? How much DD do you typically do on a stock? How many hours a day do you expect to be online in the market? I am planning on spending 3 hours a day to start. Over this next week I plan to have detailed spreadsheets on all the stock I will trade over the next month.
------------------ Trying To >Be ADaytrader > TT Bad
Posts: 83 | From: Los Angeles | Registered: Dec 2004
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posted
I guess i'll have to repeat myself.. if you want to be a daytrader.. read 2 books in particular that will help you get organized the way you want to because if we told you it would require a whole book... also you need $25,000 to daytrade and 9-4 monday thru friday in terms of time to do it plus you need at least 6 months of money for living expenses saved up in your bankd account... if not then oh well i tried to give you advice...
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