This was my watchlist for breakout anticipation coming in to Wednesday market open. These stocks had a high probability of breakout during the day. In order to ensure I do not miss breakout on these stocks I had the stock watchlist already ready in broker platform.
But that alone is not sufficient if you want to get in to breakout early , you need to be quick to put in order once the trade triggers. So for select few stocks out of the above watchlist I already had 2 orders ready one a limit order at predetermined price slightly above their current price and another market order. that way if a stock goes up quickly and barrels through your limit price I can quickly trigger market price. Once the market opens then it just becomes easy task of clicking few orders on stocks that trigger.
MOMO was on watchlist stock triggered in first few minutes and the orders got triggered. The stock spent rest of the day going up and ended up 9.75% for the day.
If you use anticipation properly you can find opportunities like these and profit from them. Another stock on the watchlist also triggered same time BABA. I got in to it and the stock also went up post entry.
Some of the tactical element of process to trade are as important as the ability to find good trades. Execution can give you an edge.
If you want to make money trading then you have to go just beyond setup idea and build a well thought out strategic and tactical method to convert that trade idea in to profit. It requires rethinking several elements of execution.
It also depends on your size of account . If you are trading larger account the execution challenge in different. For a smaller account it is much easier to get in and out.
Here is some idea about what you can achieve with small account using the setups and ideas discussed here:
Large account can not match the nimbleness on small account but still one can make money trading setups like these. Here is one of the larger account using setups discussed here:
In large account one has to focus on more liquid stocks, which do not move as fast as some small stocks. Plus you have to often take smaller size position as large orders can move the stock price.
Here is my anticipation watchlist for today:
If you are really serious about making money swing trading , find an idea that is around for years like buying breakout or buying pullback and then build a process around it. Refine and fine tune the process till it becomes part of you . If you can do that then you will find good success with trading.
I have detailed these setups here several times and if you are motivated to make money you can go through posts highlighted in sidebar and work on them and see if they work for you. Study the 4% breakout method detailed here multiple times. Study the earnings breakout method. Study the anticipation method (which is more suitable for working people).
If you are motivated and commit a year to making any method work then you can make money from it. You don't have to use my methods, there are several profitable methods in public domain. They will work for you as long as you are willing to put in effort to make them work and have persistence to make them work.
I know several highly profitable traders personally and each of them has spent years perfecting their method and they don't trade same methods. Each of them have voracious appetite to improve their trading and they are optimist people who believe in their ability to further innovate on their current skill sets.