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***** Many people post their daily picks on StockTwits and Twitter and many hit as well as miss in their forecast. Nobody is different in that. Picking stocks to trade however is not as easy a throwing a dart or I should say it is as hard as throwing a dart.
Time investment is just one part of studying charts. It's practicing, or testing, that helps to improve your skill and it's daring to execute your conviction which reaps the results. To become good at pickin' a trade you must commit yourself to the art daily.
Often traders say they "should have just thrown a dart at the list", but usually that works when the market is moving, reacting equally well and therefore no matter which stock we pick the results are good. When markets are moving in unison traders should do well, if they are in on the right side of the market, no matter which stock they pick.
The difficulty comes when not everything is going the same way. Like today, the markets are in the red, yet many of us are enjoying the bull on equities pushing higher. As in darts, if you played the game, you know that hitting that one wedge on the board is difficult enough but then try to hit the double or the triple for better score is where skill, practice and talent shows.
When looking for a trade, getting the entry right is just one part of the story. Like in a dart game, we have to get the entry correct (double on) but once that hits, do you know which way we wish to travel to get that perfect out? Targets and exits are equally important and knowing that part is where the art of real stock pickin' lays.
Happy Trading, Living and Dancing
Anni
The Daily Pick - $NFLX $STUDY
©DayTrading with Anni 2007 - 2013 All Rights Reserved
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