Books or Material on Stock selection for day trading?

ZBZB said:
you should be able to set the IB scanner to scan the ASX.
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Thanks, yes.. I can but I have to subscribe.
I have a question for you actually.
If I am going to scan for Average True Range... is that called 'Price Range/Avg' in the Mosaic Stock Scanner?
 
dominover said:
I've just gone over the Interactive brokers scanner and I'm amazed as how detailed it is.
The whole trader workstation is pretty hard to use though. I've got some learning to do on this. Still looking for a structured way to approach this.
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Good trading is boring. Just follow the trends. Ignore all ET trolls preaching doom and gloom and sky is falling chicken littles.
 
smallfil said:
Good trading is boring.
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Too true.

Imagine a Blackjack dealer dealing to a table with virtual punters (no banter, no laughs, no conversions etc). Every day the same. (but sometimes it can get sort of riveting like a few months ago).

Deal a hand. Deal another. Deal another and so on. 5-10 hour shift.

That's basically the reality of a good trader with a good tradeplan. It's only in Hollywood movies where it's glamorous and exciting.
 
dominover said:
I'm looking at educating myself a little better on stock selection for day trading. My weakest skillset of all.

I was specifically wanting to re-educate myself on finding stocks for trading Intraday and not so much for Investing longer term.
Thanks
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Advanced Techniques In Day Trading by Andrew Aziz address this specifically (Chapter 3: Building Your Trading Watchlist).

His scanners are mostly based on gappers, new HOD/LOD, Breakdown/breakouts, VWAP reversals etc.
 
AbbotAle said:
Too true.

Imagine a Blackjack dealer dealing to a table with virtual punters (no banter, no laughs, no conversions etc). Every day the same. (but sometimes it can get sort of riveting like a few months ago).

Deal a hand. Deal another. Deal another and so on. 5-10 hour shift.

That's basically the reality of a good trader with a good tradeplan. It's only in Hollywood movies where it's glamorous and exciting.
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In this case, you are the casino boss and the players are the ill informed and ignorant retail traders. Too bad for them because the hedge funds does not care where their profits come from. We are here only to partake of the spoils. Hedge funds own the casinos.
 
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