Monday, January 7, 2008

My Daily Research Schedule

When I first started trading, 9 years ago, I'd wake up at 5:30, and be in the city by 6:30 sitting in the atrium of the JP Morgan building reading the newspaper while eating my breakfast.

I didn't go into the office right away because I didn't want people to bother me.

I sat in the JP Morgan building because it made me feel more "Wall Streety."

Nowadays, I sleep until 8:00. Or, when I wake early, I piss a lot of time away on email or reading idiocy on stock market blogs.

Well, new year, new company, new market. It's time for me to take this job seriously again.

In December, I deserved to lose money because I wasn't working hard enough. If I lose money now, it's not going to be due to poor work ethic.

Some things I can't control but my work ethic is not one of them.

So here's what I'm doing. I'm going to make a strict schedule of research that I adhere to each day. It will help me focus.

However, the first thing I will do each day is to create a simple "Good Morning" blog post. This will put at least a little pressure on me to get in and get the post up each day. It would be shameful to admit to myself and my 3 readers that I lost money because I got to my desk at 9:24.

So here, is my new research schedule:

1. Morning post.
2. Read IBD Big Picture.
3. Read Bloomberg breaking news headlines.
4. Read Bloomberg "Stocks On The Move."
5. Check front page of NYTimes and WSJ.
6. Watch Alphatrends daily "Stock Market Video Technical Review."
7. Read Briefing Live In Play from previous day's close.

Okay, that's a good amount of reading and background. Now for some graph work.

8. Check BigCharts' "big movers reports." Especially the largest % gain in volume.
9. Go through index graphs like SOX, XBD, XOI, etc.
10. Go through each stock on screen.

After all of that, (I figure it's 3 hours worth of work) I should have an excellent idea of the general tone of the day and what stocks could be moving. At that point, I'll head over to "the Fly's" blog and try to dwindle his readership by posting a nice soppy movie clip.

If you have any other suggestions for research, please let me know via the comment section.

12 comments:

MIsstrade said...

Don't forget to book those profits!! Go get em Tiger. Congrats Les Miles and the Bengals, speaking of Tigers!!

mdawsz said...

Good links. I like to check Bloomberg for movements in commodities.

HPT said...

"reading idiocy on stock market blogs"

That is where the majority of my time goes on my days off.

To critic your links, I think your reading too much shit. Just get the DL on where the key sectors are trading, upcoming news and econ #'s, hot stocks you plan on trading, and be sure to checkout my blog at the end of the day for a 2 day old mediocre post.

Dinosaur Trader said...

HPT,

At the end of the day, I generally try to get through my blogroll.

Don't worry, I saw that white hat.

-DT

Dinosaur Trader said...

mdawsz,

Good call, I should check on commodities as well. Very important nowadays...

-DT

Pete said...

can u provide some insight into ur trading methodology? seen logs of r trades but not really clear how u operate.
Thanks
pete

mrkcbill said...

You should start your day reading The Gospel
I know this helps me focus!

Dinosaur Trader said...

pete,

It's not clear to me how I operate either... I'll work on it.

-DT

Broker A said...

Or, you can quit wasting your time, utilizing your feeble gray matter, and just copy "The Fly".

Dinosaur Trader said...

After I destroy your blog with sentimentality and disco music you can be the weekend blogger here.

How about that?

-DT

Reese said...

Hey DT, great checklist. Since you watch Alphatrends daily technical review, you might be interested in www.inthemoneystocks.com. I'm not a subscriber, but they post a (free) daily video on market technical analysis, and it's been great the three or four months I've been watching. I watch it from their youtube site at http://www.youtube.com/user/inthemoneystocks

Good luck and good to see you back on the horse!

-Reese

Dinosaur Trader said...

Reese,

Thanks, I'll check that out!

-DT