Use a Stock Watchlist To Manage Your Stock Ideas
If you use a stock watchlist to effectively manage your stock ideas, you consistently earn a higher rate of return. Regular use of your stock watchlist ensures you always make disciplined investment decisions.
Plus, if you review your stock watchlist each day, you have a low-effort yet systematic approach to examining the most pre-qualified stock ideas. It’s about working smarter. This is especially true if you are actively managing your investment portfolio while holding down a full time job.
I can only speak to you from personal experience, but when it comes to managing your stock picks…
“Using and maintaing a stock watchlist can drastically improve the efficacy of your investing.”
As you can see in the video above, I only add pre-qualified stock ideas to the stock watchlist. And I am careful to review the fundamentals of the securities involved every 2-3 months. I also am sure to review the technical strength of the stock I’m thinking of buying.
And even then…
I often take profits on half my investment as soon as the stock jumps 7-10% – regardless of my target sell price. Then I let the rest of the position ride until it’s within 5-10% of my target sell price.
So that’s how I use a stock watchlist to manage my stock ideas effectively. It doesn’t take much time but I always know which stocks I think are best. The color coding makes it quick to scan, and the cloud based nature of the spreadsheet I use to host the stock watchlist means I can access my stock ideas anywhere.