Alex,
you ask amazing questions, in a sense that they always require "not that simple" kind of answers.
I understand your concern I don't want to be a lazy trader but I also don't want to waste too much time
It's my concern, too :)
Trader has to soak in professional atmosphere, to breathe, eat and sleep with martket/trading thoughts on background, and trader has to have a rest, fresh mind in the morning... and there is life, with swimming, books, movies, friends... and just 24 hours... :)
Well, here is my take.
There are two kind of preparations.
First of them is educational. Staying in a course of how trading world is developing, latest in rulemaking, insights from good traders (not stock specific), trading ideas and methods etc. I do it religiously every night. NASDAQ site, HardRightEdge, IntelligentSpeculator, some others... Best SI threads (Daytrading Fundamentals, Technical Trading: Analysis of Price and Volume, Swingtrading - Tricks of the Trade and several others are must for me).
Doing this, trader will find amazing insights, will be ready to all major changes in technology and rulemaking (well, as ready as it gets).
If for some reason I have to skip one or two nights, it takes extra hour or two to catch up. If I leave for two weeks vacation, it might take entire day and even more to become aware of the latest events again.
Second kind is stock specific: trading ideas for tomorrow. If you don't mind, I'll get back to it this evening :)
Vadym |
