Using MOMO while AFK
For the busy trader who rather be on the beach than stuck behind their desk, here is a quick review of how you can use MOMO to capitalize on the stock market while away from your keyboard (AFK).
When to use MOMO while AFK:
-- To uncover stocks that are making quick moves and you want to learn about and quickly place a trade based on that velocity.
-- To protect earnings when the market is moving quickly and you are working and can't be staring at your portfolio.
-- To monitor and track pre-market and after-hours activity without a computer.
In general MOMO supports the notion if you can afford to leave your trading computer, having realtime intraday high and low breakouts becomes your most valuable stock information. Sounds a bit like marketing, but as a swing or momentum trader you are not trading in and out of positions every hour, as such you only become interested in new daily extremes; otherwise you would have likely decided manage the position while you were at your desk.
When researching for new opportunities; MOMO can be used to find recurring stock symbols in the stream and then quickly research crowd sentiment on StockTwits to gather other's thoughts. Once you determine its worth monitoring, you can set a alert to track future movements.
On an active trading basis, using alerts to monitor a stock and then using your established breakout price is another quick way to move on price action. Obviously this can be done with a buy stop's ,etc., but depending on macro events and market activity having these trades made automatically may not be prudent.