Since breaking news updates and company announcements can influence market direction, the media and the economic calendar can be useful for trading plans and strategies. This becomes especially relevant around earnings. Becoming familiar with individual stocks, groups of stocks, sectors, and industries can help you see the big picture. Traders who keep their fingers on the “pulse” of the market often have a better sense of the overall market direction. When traders watch price action and use their watchlist as a guide, they’re less likely to succumb to emotional volatility that plagues both novice and experienced traders alike.Įven more, watchlists protect valuable time. This watchlist should include both long and short trends that are looked at through unbiased eyes. Options traders can build a watch list that lets them run through the options chain for stocks they want to trade. This will allow a trader to quickly identify a setup and take action while the rest of the market struggles to decipher the never-ending news cycle and sentiment. Having a watchlist is almost like a cheat sheet. We often talk about finding an edge in the markets. But, Ultimately, we should be trading what we place on our watchlists. We can talk about what we “think” might happen all day long. Whichever market environment we find ourselves in, watchlists enable us to find buy-the-dips and short-the-rips setups and, when possible, to make trades in the right direction.Įven more, watchlists can help traders avoid searching for market trends in all the wrong places. When traders categorize stocks according to price action, this makes it easier to identify the best setups.
When a tendency has been identified, this asset can be added to the appropriate watchlist. Traders should consider whether an asset is consistently moving in bearish, bullish, or chop patterns. In this quick blog post, we’ll discuss how I setup my watchlists and pick the best stocks! Watchlists for Trending Markets This can make navigating volatile markets easier for even the more experienced traders. Watchlists allow traders to set specific criteria to identify potential trends and trade setups. I can’t stress the importance for traders to determine the market, sector, and even stock structure before planning strategies and setups. Traders can benefit from a dual - or even a triple - watchlist. In truth, traders should build more than just one watchlist. Easy to manage and customize: You can freely delete, move or copy every single stock on your watchlist.Volatile market environments require more than strategic planning as traders maneuver potential pitfalls.Track the stocks you are interested in: You can enter hypothetical buy price and quantity to simulate the return of the stocks you have in mind.
Create your own custom view: Each customized view can add up to 10 data values to present various investment perspectives.Side-by-side price comparison: You can view the relative price gaps of the same stock listed in different markets (ADR, H-share, A-share or B-share), and easily seize the investment opportunities globally.Monitor multi-market stocks in one watchlist: By adding stocks across 16 markets to a watchlist, you can track performance of multiple markets' stocks at a glance.Create multiple "portfolios": You can flexibly set up as many as 10 Watchlists, each with 30 symbols.
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