I have a question for you. What happens when you go grocery shopping without a shopping list?
Well, my guess is you'll end walking down every shopping aisle to see what you need. And guess what, you’ll almost always forget something, usually the most important item you need. You may even end up buying something you don’t need and spend more than you expected.
This might work for grocery shopping, but it doesn't work for investing.
Why? Because of the lacking in clarity.
Just like anything else, it’s the lack of clarity that creates chaos and frustration. And the same applies to investing. An investor that lacks clarity is the one that makes the most mistake.
That is why we need a watchlist.
The whole reason for creating a watchlist is because:
1. It’s an easy way to track your stocks. It keeps you updated on all the news and information around the stocks and funds that you're planning to own.
2. So that when the opportunity comes, when the market is down, you are ready to buy. Just like what's happening now, when you look at the fear and greed index, it is pointing at 36, which means the market is getting fearful, question is, do you have your watchlist ready to start buying?
That is why in today's episode, we'll talk about how to create you own watchlist and I'll also be sharing some tools you can use to help you create an effective watchlist.
Check out the episode to find out more!
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Resources:
1. The Bowser Report Portfolio Tracker - LINK