See through the eyes of a Schwab trading specialist and discover which tools they use to find the information they want.
As VP of Trading and Derivatives, Randy has to stay on top of as much market information as possible. See how he’s set up to catch the most important news as well as record his weekly Stock Market Report video and podcasts.
Experience NowI look here to find out what’s going on in the world and how that may impact where the markets open.
I pay a lot of attention to the dollar. When it’s trending up, that tends to hurt oil prices; when it’s trending down, it tends to help.
One of the first things I check each morning is the Top Stories on Bloomberg. Learn More
GDP reports, CPI, PPI, and other sorts of economic data come out every day and can impact the markets.
Though I don’t even wear hats, I’ve somehow amassed quite a collection. My favorite is the one that says "SCH100", celebrating the first time Schwab’s stock hit 100.
I’ve held onto these for every time I’ve been on the NYSE or CBOE floor, dating back to the ’80s.
I record my weekly “Schwab Market Snapshot” from right here, covering the previous week’s market action, where we currently stand, and what we may expect in the week to come. Learn More
I typically start my day here to find out what’s going on in the world and how that may impact where the markets open. By the time the opening bell rings here in the US, Europe’s trading day is half done and Asia’s is already over. The action overseas can have a big impact on where the markets will open.
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After checking what’s been happening globally, I take a close look at the dollar. As part of the futures market, it trades all night long and can make a big difference in commodities and oil prices. When the dollar is in an uptrend, that tends to hurt oil prices; when it’s in a downtrend, it tends to help.
After checking some of the hard numbers, I turn to the major headlines. I like the TOP news function on Bloomberg, and it is easy to filter. This way, I don’t have to dig through a bunch of irrelevant headlines. Learn More
When it’s time to look for trade ideas, I turn to a number of daily economic reports that come out. Though many may have limited interest to your average trader, there are a number that can make a significant impact on the market. GDP reports, CPI, PPI, and other sorts of economic data are released on various days throughout the month. Many of these are released from 7:00 to 8:30am EST, making them another useful resource to check before the market opens.
Watch Randy’s Day in the Life video to Discover how Schwab’s VP of Trading and Derivatives goes about his typical trading day. Watch Now
See how a Chartered Market Technician sets up for technical analysis and what keeps him on track with his trading strategy when a trade goes against him.
Experience NowI check the futures market to see if risk is likely to be high or low for the day. This makes a huge impact on my trading decisions throughout the day. Learn More
Once the market opens, I look at various moving averages to see if there are potential breakthroughs coming. This helps me determine how aggressive I’ll be. Learn More
This is built right into the Schwab platform and helps me get a big picture look at the market in the morning. Learn More
At a glance, I can check this feature to see all the headlines pertaining to my positions to make sure I haven’t missed out on any important updates.
When a trade goes sour, I’ll take a break and flip through one of these to recalibrate and make sure I stick to my trade plan. Learn More
My academic background was as a biochemist. I thought my experience analyzing data to make reasonable predictions would come in handy when it came to trading...it didn’t take long to realize that trading is not that simple.
I host my “Charting the Markets” webcasts from my desk each Tuesday & Thursday. I share my screen so viewers can follow along as I show how I use technical analysis to spot trends and trade opportunities. Learn More
Because the futures markets trade nearly all the time, a quick look before the market opens may give an indication of whether we’ll open higher or lower, based on the discount or premium to the fair value of futures. I pay particular attention to bonds; if they’re down, risk is likely to be higher than average.
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After futures, it’s time to look at the major indices and interest rates. I have a layout in StreetSmart Edge built where I’ve got the S&P, NASDAQ, the Dow, and NASDAQ composite with the 10-year and 30-year yield underneath.
This independent financial commentary resource is integrated right into the Schwab platform, helping me get a big picture look at the market in the morning. I find their estimates for the economic numbers particularly helpful. Learn More
This feature in Trade Source gathers all the news and events pertinent to just my positions in a single location. It’s a great resource to flip through to make sure I didn’t miss anything that happened throughout the trading day.
Watch Lee’s Day in the Life video to Discover how Schwab’s Chartered Market Technician goes about his typical trading day. Watch Now
See how Schwab’s Senior Specialist of Trading Services Education has customized his work station to avoid common psychological pitfalls and stay focused on success.
Experience NowI like to use the Notes tool in StreetSmart Edge so I can look back and see what I was thinking before entering a trade. There’s helpful information to gain from both successes and failures. Learn More
As I’m most interested in up-trending securities, I use this StreetSmart Edge tool to create custom screeners using a combination of technical and fundamental analysis to find potential opportunities. Learn More
With this single feature in Trade Source, I can view all the data, news, events, and other information pertinent to my specific positions so I can stay abreast without having to consult multiple sources. Learn More
I’ve customized the layout, color, and fonts of the platform to be as clean and concise as possible. Learn More
I crushed the competition.
Sure it’s a “We’re #1” sign but doesn’t it also kind of look like a librarian’s warning to be quiet? I hang this up from my desk when I’m hosting a webcast to let visitors know I can’t talk at the moment. Learn More
I believe every trader should answer this question before every trade they make. It helps to remove emotion from the equation. And no, “I’m feeling lucky” is not a good answer.
I believe trading psychology is an extremely important factor every trader should not just be aware of, but engage with. One way I do this is by taking notes on current market conditions and my expectations before entering a trade. This way I can look back later to see where things may have gone right or wrong and try to adjust accordingly. This can also include the way my morning played out with getting my kids to school or me getting to the office on time. Sometimes, the mundane day-to-day details can impact my trading. Learn More
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This StreetSmart Edge tools lets me customize my own screeners using both technical and fundamental analysis to find up-trending securities I may be interested in. This helps me block out market noise so I can focus on things like comparing the 20- to the 50-day moving average or changes in volume trends. Learn More
This feature makes it easy for me to catch all the important news and events that affect my positions in a single location. From earnings report release dates to technical events to breaking news, I can stay on top of my positions here. Learn More
If you look at your trading platform as much as I do each day, you want something that’s easy on the eyes. I’ve simplified my charts and changed the colors to make the information I want pop. I’ve even changed the default representative color for ‘loss’ from red to blue. Our brains have been conditioned to associate a red loss as a negative and while I still know that blue is negative, I don’t feel negative. This subtle effect may save me from forcing a panic trade that’s against my overall strategy.
Watch Kevin’s Day in the Life video to Discover how Schwab’s Sr. Manager, Trading Services Education goes about his typical trading day. Watch Now
As a Regional Manager, Lou often travels and has to work from wherever he can. See how he stays ready to find trade opportunities on the go—and manages to sneak in a surf whenever possible.
Experience NowI check the live stream on my phone first thing in the morning to see what’s going on in the markets. Learn More
I log in to the Schwab platform to get a deeper dive on the economic numbers that are driving the market. Learn More
I look for stocks with A or B ratings that other analysts aren’t yet interested in. Learn More
This tool integrated into StreetSmart Edge helps me determine entry and exit points for my trading strategies. Learn More
This is a nice little visual reminder that there’s always another side to a trade.
I’m a new father! I owe one of these to each of my fellow Schwab Trading Specialists.
Growing up in California, I am constantly on the lookout for my next surf destination.
I typically start my day by checking the CNBC stream on the Schwab mobile app to figure out what’s moving for the day. This gives me a good idea of what to keep my eye on. Learn More
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Once I have a general idea of what’s going on, I move to Schwab’s web platform Trade Source to dig further. From this one spot, I can get economic numbers, futures, quotes, see which companies are reporting that day, and any other market information I want. Learn More
When looking for trade opportunities, I like to go counter the traditional analysts. In my opinion, they put too much focus on EPS (earnings per share) in their recommendations and history tells us that by focusing on this number alone, you’re likely to find stocks that will underperform the market averages.1 That’s why I look to Schwab Equity Ratings (SER). By factoring in additional aspects like valuation, momentum, risk, and others, SER helps identify companies likely to outperform others in the same sector and market cap. I am particularly interested in companies graded A or B that the analysts haven’t caught onto yet. Learn More
Once I have a company and a strategy in mind, I look to Recognia in StreetSmart Edge to help me pinpoint my entry and exit points. Once I’m locked in to a plan, I can set conditional orders to help make sure my emotions don’t take over and I stick to the plan. Learn More
Watch Lou’s Day in the Life video to Discover how Schwab’s Trading Solutions Regional Manager, Chartered Market Technician goes about his typical trading day. Watch Now
Disclosure
The information presented is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The type of securities and investment strategies mentioned may not be suitable for everyone. Each investor needs to review a security transaction for his or her own particular situation. All expressions of opinion are subject to change without notice in reaction to shifting market.
1. Zacks Investment Research collects analyst 5-year EPS growth rate forecasts from over 100 brokerage firms and averages the forecasts for each stock into a “consensus” long-term EPS growth forecast. Zacks also collects analyst stock ratings (e.g., buy/hold/sell recommendations) from over 100 brokerage firms, transforms the ratings into a numerical scale, and averages the ratings for each stock into a “consensus” rating. Futures trading carries a high level of risk and is not suitable for all investors. Certain requirements must be met to trade futures. Please read the Risk Disclosure Statement for Futures and Options before considering any futures.
Access to electronic services may be limited or unavailable during periods of peak demand, market volatility, systems upgrades or maintenance, or for other reasons.
Schwab Equity Ratings and the general buy/hold/sell guidance are not personal recommendations for any particular investor or client and do not take into account the financial, investment or other objectives or needs of, and may not be suitable for, any particular investor or client. Investors and clients should consider Schwab Equity Ratings as only a single factor in making their investment decision while taking into account the current market environment.
Various news and market analysis sources used on Schwab.com, including Briefing.com and Recognia, come from independent third parties. Schwab is not affiliated with these content providers, is not responsible for the content, and does not write or control which particular article appears on its website.
Schwab does not recommend the use of technical analysis as a sole means of investment.
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