I'll start by saying that I am fairly new to trading. I've noticed the “Top Movers” on Fidelity and thought I'd wait until market open, buy a stock that is on Fidelity's list, watch for 30 or so minutes, and sell at a profit. Today, I did just that. It worked very well. I had about a 30% increase in my initial investment.
My question is what would some more experienced traders say about this, suggest, or advise?
Obviously I would only be investing money that I am ok with losing. And that fidelity must be using some algorithm to include a stock on their “Top Movers” list. It's not foolproof and it doesn't guarantee that the price won't fall. It likely just reflects a stock that has seen great growth in a short time (day).
Even then, why wouldn't I just put a percentage of what I want to invest in the top 4 on the list and wait an hour to likely sell at a profit? For example, I have $1000. Why wouldn't I put $250 in each of the 4 “Top Movers” at 9:32am and just monitor how each stock is doing over the next 30 min to an hour?
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