How to prioritize which stocks to buy
I'm writing my own stock trading script, and was looking for a way to intelligently buy stocks, using whatever available money is there to maximize profit. There are factors to consider like forecast, askPrice per share etc, but would like a formula to get a score value for the stocks. For identifying which servers to hack, i use something like (maxMoney*growthRate)/(minSecurity*hackTime).
Does anybody use a similar formula for stocks? Ideally would like a rotating list of stocks in order of importance, and if a stock with a better score is found, will purge (sell) existing stocks with a lower score and buy the new more promising one.
Don't give me scripts, just thoughts and formulas for finding the most promising stocks to buy at a given moment.