Prioritising my watchlist

  • Afternoon all,

    So my watchlist is growing faster than my portfolio currently.

    I’m trying to look at ways to figure a priority list almost like a scoring system beyond “who would I buy first if I had the money now”

    My watchlist varies across the entire market with players as low as 33p all the way up to £7.81.

    Has anyone else had any issues or ideas as to how to prioritise their watchlist?

    Payday Thursday and trying to have a clear idea of where money is going before it gets here.

    Thanks in advance

  • I fell into the same trap. I was adding new players to my watchlist all the time and it became unmanageable. In the end I had to be a bit more ruthless and decided to keep it to a max 10 players.

    Now I review the list regularly and ask myself 'Am I really going to buy this guy, what's the likelihood of a return?. If not, then I remove them. I've also learnt to sleep on a new find and revisit the next day. It's too easy to fall in to the trap of thinking you've found an excellent 30p player that is going to make you 100% and buy 500 of him there and then. However, upon reflection the next day, I realise it's probably not worth it and remove him from the list.

    I used to fall into the trap of investing in too many punts on my watchlist. Now, I use it more sparingly and more often that not you're better off topping up on one of your existing confident holds.

  • I’ve added that many players too my watchlist in the past few days I got a notification pop up saying ‘can’t add anymore players to watchlist’😂

  • @TomByTheThames I found myself falling into the same trap (and still do from time to time) but more recently have been able to get a handle on it. Now I generally use the watch list as a “requires further research” section. Each time I come accross a new player I’ll add him to the watch list and try to carry out more in depth research before my next payday, which is monthly. If I can’t find a reason to purchase at that point then I simply remove him and start to build the watchlist again for next payday.

    Easier said that done sometimes but it has worked quite well. It’s very easy to get attached to a player you haven’t even purchased because you feel he may offer value in the future (if his price has spiked short term for example) and don’t want to miss out but you have to regularly review the list or it quickly become unmanageable.

  • @MikeWagner I do like the idea of some sort time scale to make a decision. Currently I’m trying to create some sort of spreadsheet to analyse different things (It’s nice having this much time on hands) to try and create some form of scoring system to find where I deem there to be “value” among the watchlist. Giving myself a deadline to make a decision will probably help too.

  • @Vaughany my main problem I find (not just with football index) is that I’m too indecisive, I can talk up positives and negatives in all and then even when comparing I find it hard to differentiate where my money is best placed. Which leads me to just not end up purchasing any at all which is how the list has grown.

  • @TomByTheThames I am a small time trader so do not listen to me.
    Someone you can listen to is FIG, who makes youtube videos and does podcasts which are greatly informative and can guide you in how to make good Football Index decisions.
    I believe you are on the right track in designing a spreadsheet to analyse different things. The reason for this, is you are in control of how you assign value to players, and this will protect you from being swayed by opinions on fora, twitter etc. that often serve their own agendas, not yours. If you are swayed by persuasive words, you can invest into holds you end up having to cut at a loss, when you realise they are not all they were talked up to be.
    I mentioned the FIG, for he did a video for beginners, i forgot the name but you can look for his beginner videos and view them all, you will have food for thought. The main thing i want to draw your attention to is his advice that you need to build a thesis, or philosophy, on what kind of holds you go for, and you then operate by that.
    You assign criteria that your holds must fulfil, and then you determine the best value amongst the holds that fulfil those criteria, and buy. This will at least partly automate your decision making process, so you spend less time agonising over it, and can actually make decisions.
    How you do that is up to you, but since you are looking at spreadsheets you could do worse than look up PB Hunter, and others, on Twitter. No need to reinvent the wheel when others are looking at the kind of data you will want, and they are kind enough to make the info publicly available.
    You can then tweak your spreadsheet to suit your own requirements.

  • @peacebeuponme thanks very much for the input, that’s not an account I follow on twitter so will definitely look it up this morning. I to would consider myself a small time trader and your input is just as valuable. I’ve toyed with the philosophy thing in the past and have changed my approach before, after all there are many ways to peel an orange so to be speak. My current port is kind of between 2 philosophies in an attempt to one spread risk and 2 have a bigger variety. Will definitely check out the FIG videos I haven’t watched any of those in a long time.

    Thank you

  • When I buy a player I add them to the watch list at the same time then I have easy and quick recall of how much I paid for them in the first place without having to trawl all the way through my history. It can get quite a big list though when you are also adding people you want to keep an eye on

  • @Gary-T look at your port it will tell you what you paid for the player

  • I hate the watch list. Its good to show when a player has dropped but as soon as they start rising its puts me off buying them because I know what I have missed out on if I had the funds/balls at the time.

  • @Doddy You are right but that will give you an average price of all the shares you bought at different times - I'm interested at what price I initially bought him at the very start

  • @Gary-T 👍👍

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