Now that your life is forever changed knowing the Big Mac recipe, on to the real important stuff. LOL. So what do I view as my Secret Sauce? What components in my trading (the ingredients if you will) give me an edge over others?
You are in for a big let down here (sorry) as I reveal that this is no real secret at all. The one component (or ingredient) to my Secret Sauce that I often discuss is: Preparation. Part of my weekend routine involves building an updated set of Stalking Lists for the upcoming week. In doing so, I build an Excel spreadsheet that contains all the stocks that I want to keep a close watch for (and set price alerts for). Here is a sample of my spreadsheet:
I typically will have 50 or so stocks by the time I build the list on my first draft. I will then spend time focusing on the filtering process to get the list down to 20 or less by Sunday evening. Having the list in Excel allows me to do a lot of data sorting, formula creation, etc. so it is something that I recommend to everyone.
My Secret Sauce, maybe. A recipe for success, I think so.
Simple yet logical thanks for sharing !!
ReplyDeleteWell, there is no substitute for diligent hard work. But, by sharing your personal methods, you give new traders a leg up to start their own process while making the learning curve a lot less lonely and frustrating. As always, much appreciated.
ReplyDeleteThanks for the comments and don't hesitate to yell if you don't understand something.
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