beginner's question about watching several stocks at the same time

[Teruki 21]

Hi,
I have been simulator training for about 3 weeks and I have gradually been becoming able to catch some patterns.
What I am struggling now is how to watch several stocks (ones on my watch list)  at the same time to catch a pattern/setup (especially for ORB).
Let's say, if I am expecting one stock to break out and keep watching it and it doesn't, I miss the opportunity to trade other stocks that did.
If I watch several stocks and try to find one that is about to break out, I am often a little late when I catch one.
Also when I do have a position, unless I just keep watching the charts for this stock, I miss the opportunity to get out early when it doesn't go as I expect (i.e. a huge pullback).

Meanwhile in the chatroom, Andrew, Brian etc. are constantly watching many stocks simultaneously and commenting on them while keeping their positions.
Of course they are very advanced and I know I should not compare myself with them, but I would like to know the best way to get there.
Is it something that comes with experience? Is there anything I can do to become better at this?

Also, regarding this, do you (recommend to) have  more than one set of charts so that I can see several stocks' movements at the same time?
And do you (recommend to) have their own montage attached to them?   
By the way I have two monitors.

It must be a very newbie question but please be easy on me and any advice would be appreciated.

Thank you.

Edited April 22, 2020 by Teruki

[Alastair 114]

Teruki,

 

U remind me of me.  A few points.

1. Do not worry, with time it will happen.

2. Watch one stocks TFs with montage.  When u get bored and realize u have time ADD another set of charts TFs and montage, as u get bored watching two sets add another.  U will find over time u will develop. Its like the movie the MATRIX,  it will feel like "time" slows down and u see the MATRIX, and can act b4.  Sounds funny but its true.

3. Usually traders have, for example 3 screens. Screen #1 has 6 - 8 5M TF charts. The other 2 screens each has a stock s TFs with montage on each. So two active trading setups and 6-8, 5M TFs monitoring so u can see the PA on the 5M.  This is just an example u could do the same with ur 2 screens.  Consider using Windows 10 virtual screens also. See how u can configure for ur style/personality.

4. Use/set alerts on chart - Depending on the trading app u use, it can be easy to set ALERTS at specific levels. When the alert goes off u focus on the stock symbol.  

5. Usually I watch 2 -3 for scalps at open the others I watch for swing trades around 9:50am. it all depends on how far they r from key levels at the open or when I am analyzing them. i set Alerts for swing/position trades at key horizontal levels.

6. Do not get frustrated, Keep asking questions over time it will all fit together.

 

 

[Teruki 21]

4 hours ago, Alastair Mowatt said:

Teruki,

 

U remind me of me.  A few points.

1. Do not worry, with time it will happen.

2. Watch one stocks TFs with montage.  When u get bored and realize u have time ADD another set of charts TFs and montage, as u get bored watching two sets add another.  U will find over time u will develop. Its like the movie the MATRIX,  it will feel like "time" slows down and u see the MATRIX, and can act b4.  Sounds funny but its true.

3. Usually traders have, for example 3 screens. Screen #1 has 6 - 8 5M TF charts. The other 2 screens each has a stock s TFs with montage on each. So two active trading setups and 6-8, 5M TFs monitoring so u can see the PA on the 5M.  This is just an example u could do the same with ur 2 screens.  Consider using Windows 10 virtual screens also. See how u can configure for ur style/personality.

4. Use/set alerts on chart - Depending on the trading app u use, it can be easy to set ALERTS at specific levels. When the alert goes off u focus on the stock symbol.  

5. Usually I watch 2 -3 for scalps at open the others I watch for swing trades around 9:50am. it all depends on how far they r from key levels at the open or when I am analyzing them. i set Alerts for swing/position trades at key horizontal levels.

6. Do not get frustrated, Keep asking questions over time it will all fit together.

 

 

Thank you so much for this.
Good to know you felt the same when you started out and now you are more advanced.
All the points you wrote here really help me. I had no idea what other traders' monitor set ups are like so it is really helpful.  
And Matrix analogy is great since I am a great fan of the movie 🙂
Thank you again!
 

[Justin 264]

You can also check out these threads for some great examples of how other members set up their trading stations:

 

Alastair is right, you'll simply get there with experience and time. Keep at it!

[Teruki 21]

This is great! Thank you Justin.