One of the biggest breakthroughs in my trading was understanding what type of trading suits my personality. For some people, the types of trades that suit me, would drive them crazy. I am often tempted to try day trading but it just does not suit my personality. I am suited to short term swing trading. The only way you will find out what suits your personality is to try it. Some people will look at some small cap stocks or cyrpto currencies and find they are not comfortable with that level of volatility. In that case stay away. I find crypto’s are easy to trade and see the volatility as quite manageable. It is very rewarding if I use my swing trading methods. The key is to manage position size and manage risk/reward. Those two are the main points for being successful at trading. The same rules apply to small cap and large cap stocks, commodities, forex, market indices, crypto currencies. It is all the same.
When looking for stocks to add to my portfolio, I look for stocks that match my personality. Sometimes they might not have suitable fundamentals, so they don’t make it to my watch list. This is how I can manually scan a very large number of stocks in a very short time. I can also use various automated scan’s to find stocks that match my criteria. To get good scanning software you need to subscribe to a proprietary system. You can start with the basic free ones first.
ASX:BUB is a good example of a stock that matches my personality. When I do my manual scans, I use the weekly chart only and make a list for further evaluation. I can look at hundreds of stocks this way in a very short amount of time.