Day Trading Trending Stocks
You have probably heard the words “supply and demand” a million times, specially if you trade stocks and crypto, however sometimes it is not easy to truly wrap your head around these forces and how you can use them to your benefit.
Here is the basic idea of how supply and demand affect asset prices and how you can find out what people are talking about and what is trending when it comes to the stock market and cryptocurrency.
People and trends move stocks up and down, look at the recent stock rally that moved the prices higher. Low supply and high demand causes stocks to move up in price. Trade the momentum of stocks with positive news, follow these platforms and see what stocks and crypto are being mentioned and see if the news are positive or negative and trade the uptrend or downtrend.
Platforms to look for data:
1. Youtube latest videos
2. Yahoo Trending Stocks
3. Twitter Feeds
4. StockTwits Trending Stocks
5. Google Stock News
6. CNBC Front Page
7. Zacks front page
8. Reddit investing and stock subs
9. Phone Notifications
10. Always buy after uptrend confirmation
Tradingview is my favorite platform to do technical analysis, their charts are by far the best from my own experience.
See, at the end of the day, PEOPLE buying or selling stocks will make prices change, one of the easiest ways that I have been able to profit from these trends is by following the platforms I mentioned above, every morning I scan the news, social media and the rest to get a “feel” of the market sentiment, it’s people trading that cause a stock to go to the moon or sink, this will allow you to either sell the stop or find the best entry point and get the lowest price available.
This is by far one of the best documentaries I’ve seen that will show you how psychology, fear and greed moves market prices.
If you understand the trend, understand the volume and what is being said out there you will be able to in a way predict what will come next and profit from the up or down trend.
As always, make sure to do your proper research, there are many tools that can provide you with technical analysis, scanners and stock alerts like Finviz, but this is a very simple way of finding out the current sentiment of a specific stock or the overall market and use it for your own advantage.