Stock Charts For Dummies

Chapter 14

Keeping Track of What’s Going On

IN THIS CHAPTER

Using scans

Building three important lists

Creating alerts

As a chartist, your charts become a large part of your work. You need to look for stocks that have setups you like, as well as buy them at an attractive entry point and then sell them when you determine a good exit point and close the trade. You can make your decisions based solely on charts or use charts with some other form of analysis.

As you find out in this chapter, managing your stock trading becomes much easier when you create watch lists. Using a watch list, you begin to collect information on stocks you want to monitor. Starting with predefined scans is a good way to look for key stock trends, such as stocks hitting new 52-week highs. You can place the scans of the indicators you check regularly into your watch list. When you decide to buy a stock, you place it into your list of stocks you own; you can also create a list of stocks you sold. No rule says that you have to use these steps, but they can help you get organized and comfortable with your charting process.

For an introduction to the ChartLists described in this chapter, check out Chapter 13. To ...