Check out how one of the most popular traders on Wall Street uses watch lists.
A watch list is not just a list of stocks that you like, that you write down on a piece of paper. You know, that piece of paper you find pushed into the corner of your desk that’s all dusty that you end up throwing away.
A watch list system used correctly will make you a disciplined trader and it will improve your entry level 10x over.
Think of a trade as a movement from one-side of a funnel to the other. It is a set of stages that you move through before ultimately getting to the buy or sell order.
The first phase is the stock screener. I have already done a number of lessons on how to set up your stock screener and what parameters to use.
The second phase is the master watch list. Stocks move from your screener to your master watch list. Just because a stock is on your master watch list, it doesn’t mean that it’s a buy. Think of your master watch list as your “stalking” list. These are stocks that you are watching only.
The third phase is to build the daily watch list. Everyday after market close, you want to go through the stocks on your master watch list that are oversold, bouncing off a previous support area, and have formed a candle over candle pattern. Take your best looking stocks that meet these criteria and add them to your daily watch list. These are stocks that you are looking to buy the next trading day.
The final phase is to buy or sell a stock from your daily watch list. In summary, stock screener –> master watch list –> daily watch list –> trade.
In this episode I show you the stocks on my master watch list and how I move them to my daily watch list. Then, you will hear from Jason Bond on how he uses watch lists to consistently beat the street. Enjoy!
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Jason Bond Picks hit another 2 winners today! One win was from Jason in UVXY for a 5% or $2,582 gain in 1 day, and the other win was from “Jedi” Luke in the live day trading chat for a 43% win or $10,750 with a hold overnight.
