Today I found this, but I'm not going to focus in the chart and the technical analysis
I want to compare and share how I pick stocks, If you read my past posts,
I said that between NYSE and NASDAQ there are approximately 6390 Listed companies, I follow 1300 approximately,
distributed in 10 industries, but I pick stocks manually without the use of a stock screener
* Professionals and hedge Funds managers use it, especially when they are looking for something in particular that meet certain criteria or filters,
since what they do is enter some parameters, and the screener gives they as a result the name of many companies that comply
with the requested parameters or criteria, they know exactly what they are looking for (Hedge Fund Managers, Investors, Traders)
after the screener shows the results, a manual selection follows because the screener is fast but has no opinion, (is a machine is a software)
For Example an Investor need ideas of Energy Companies based in that Oil-Futures are bullish and he need only
NYSE Mid-cap Listed Companies with an Unusual Stock Trading Volume with a Beta above:1.2 etc...
seconds after the machine gives the name of the 20 or more companies that meet the criteria
and after a personal selection the investor select 3 or more companies for your portfolio.
How I do I it?
* I do the search manually, I have my own list of Energy Companies and follow they constantly,
What is the difference?
Is the time that it takes for an Analyst examine a whole Industry, think about this:
there are 224 NYSE listed Energy Companies, I follow 79 companies
But I am focused in find price action on price patterns and I use weekly charts and reliable price patterns that take more than 8 months
to take shape and I constantly follow they and I look how they are formed, so I do not share premature ideas (Not confirmed)
You learn more in this way but it takes several years especially if idea comes from the weekly chart and is designed
for swing traders, position traders or Investors who hold for long term
Remember a stock screener is a very useful tool, but they work better with fundamental analysis criteria, Hedge Fund Managers use it and they are Pro.
But for technical analysis is better a manual search because a software is a machine and machines do not draw conclusions do not discern
Or combined the two, run a screener and do a manual search
I want to compare and share how I pick stocks, If you read my past posts,
I said that between NYSE and NASDAQ there are approximately 6390 Listed companies, I follow 1300 approximately,
distributed in 10 industries, but I pick stocks manually without the use of a stock screener
* Professionals and hedge Funds managers use it, especially when they are looking for something in particular that meet certain criteria or filters,
since what they do is enter some parameters, and the screener gives they as a result the name of many companies that comply
with the requested parameters or criteria, they know exactly what they are looking for (Hedge Fund Managers, Investors, Traders)
after the screener shows the results, a manual selection follows because the screener is fast but has no opinion, (is a machine is a software)
For Example an Investor need ideas of Energy Companies based in that Oil-Futures are bullish and he need only
NYSE Mid-cap Listed Companies with an Unusual Stock Trading Volume with a Beta above:1.2 etc...
seconds after the machine gives the name of the 20 or more companies that meet the criteria
and after a personal selection the investor select 3 or more companies for your portfolio.
How I do I it?
* I do the search manually, I have my own list of Energy Companies and follow they constantly,
What is the difference?
Is the time that it takes for an Analyst examine a whole Industry, think about this:
there are 224 NYSE listed Energy Companies, I follow 79 companies
But I am focused in find price action on price patterns and I use weekly charts and reliable price patterns that take more than 8 months
to take shape and I constantly follow they and I look how they are formed, so I do not share premature ideas (Not confirmed)
You learn more in this way but it takes several years especially if idea comes from the weekly chart and is designed
for swing traders, position traders or Investors who hold for long term
Remember a stock screener is a very useful tool, but they work better with fundamental analysis criteria, Hedge Fund Managers use it and they are Pro.
But for technical analysis is better a manual search because a software is a machine and machines do not draw conclusions do not discern
Or combined the two, run a screener and do a manual search