Contributor Since 2012
Seems every day i learn something new. This is probably nothing new to any experienced investor, but if i could start all over I would take this investment approach.
The way to get rich is rather than watching individual stocks, i would watch entire sectors. I would find funds that are sector specific. Say marijuanaindex.org for example, and rather than tracking each individual stock within it, i would chart the fund's overall performance itself and look for indicators. I would assume if bearish indicators occur that only the very top most hyped/well known stocks will be hit the hardest of the group regardless of their financial viability.
I think a new "winning" strategy would be for me to begin charting SECTORS rather than individual stocks, and then based on the sector demonstrating bullish signals I would proceed to find the three most discussed stocks within that sector. Then find a good entry point accumulating a large position.
Step 1. Find ticker symbols that track an entire sector.
Step 2. Narrow those sectors down based into only sectors demonstrating unmistakably bullish signals.
Step 3. Identify via social media the most hyped and discussed stocks within that sector.
Step 4. Actively begin charting those stocks and wait for a good entry point.
Step 5. Buy stock(s?)
Step 6. Activity track both the sector and individual stock(s)
Step 7. At first sign of weakness in sector or stock, sell shares for profit.
*how many more expensive lessons must I learn before I make real money!?!?....