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Warlist for January 11th, 2011

January 10, 2011

My warlists have sucked big time.  They’ve SUCKED!

I know that I’ve just started doing these things online, but I’ve been doing these for myself for a few months and I don’t think that one of them has turned into a trade that has been worthwhile.  Yes I traded one of my online warlist picks, but I think the trade was forced and wasn’t something that I should’ve done.  Thus, I’m going to suspend my own picks.  Once I get a handle on things, I plan on putting out a watchlist of my own, but in the meantime I plan on posting links to my favorite watchlists for the following trading day.  I’m not sure exactly how this is going to look on the site, but I’ll figure it out.

I’m going to keep working at finding trades on my own, but I really don’t think my skills are good enough to pick stocks on my own just yet.  When I get back from my vacation I’m going to get a subscription to a real scanning software (Equity Feed) instead of using the sub-par Google stock screener.  While I know that the stock screener alone will not make me a good trader, I feel that the options that it provides will push me into the right direction instead of just spinning my wheels with where I’m at.

In the near future, I also plan on expanding my horizons by joining InvestorsLive’s chatroom and subscription service.  I still plan on keeping my subscription with TIMAlerts, but IL has made me some serious money and I would be a fool to not give the full subscription a shot.

I will still be recapping my daily trades, and plan on going through my entries and exits in a little more detail.  Because of all the bad trades that I make, I think this will help me in the long run identify a bad trade before I make the mistake of trading it.

I’ll keep you all posted at how it all shakes out.

War

As always review other free watchlists out there; my favorites are InvestorsLive and mb_willoughby.  My paid lists are from Timothy Sykes and Pre-Promotion Stocks.

Don’t forget to follow me on twitter @michiganwar and throw me a bone by retweeting to your followers

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