Hi
I am interested in how people are using the great functionality and information on Stockopedia for shorter term trading ie.. anything from approx. 1 week to 3 months holding time.
Can the guru screens be effectively forked for shorter timeframe for example?
I am new to the shorter timeframe and so looking to generate constructive ideas/thoughts.
many thanks in advance
Any thoughts on this appreciated. At the moment I see lots of guru screeners giving me potential opportunities.
What are suggested approaches/next steps to whittle these lists down ?
In my opinion, short-term strategies are likely to lead to long-term losses. This is because they are likely to lead to an excessive number of trades over a year, which will result in excessive transaction costs that, in the long run, will tend to greatly outweigh any potential profits from the short-term strategies.
I tried many strategies listed, all of them work on the longer term. However, if you buy at the 'wrong' time when a correction starts, you'd have to sit through it -- I personally don't have the nerves for it. Therefore, it is imperative to be able to interpret the charts and act on price/volume action. I mainly ended up using O'Neill's CAN-SLIM method; however since the market seems to be violent these days and goes more sideways than up, also read about the pocket pivot points by Gil Morales! (Disclaimer: I still class myself as a beginner who needs to learn a LOT).
