Stock picking

M

MiniGrasshopper

Im new to trading..and been reading around alot here lately and other sites...and everyone seems to find heaps and heaps of stocks to trade..and im rather stumped...

how do ya's all find the stocks to pick (what scanner..what criteria etc..) if anyone could gimme a helping hand on this type of information it would be appreciated.

ps: iv found loads of stock scaners ..just they dont help much if ya stuck on what to add criteria for them..
 
Quote from MiniGrasshopper:

Im new to trading..and been reading around alot here lately and other sites...and everyone seems to find heaps and heaps of stocks to trade..and im rather stumped...

how do ya's all find the stocks to pick (what scanner..what criteria etc..) if anyone could gimme a helping hand on this type of information it would be appreciated.

ps: iv found loads of stock scanners ..just they don't help much if ya stuck on what to add criteria for them..
More...


forget scanners....we just do whatever Mr. Market says to do..:D

Only kidding....

look up canslim under search and their is a lot of stuff...good luck
 
Quote from TM_Direct:

forget scanners....we just do whatever Mr. Market says to do..:D

Only kidding....

look up canslim under search and their is a lot of stuff...good luck
More...

he is not kidding :D
 
I had the same question when I first looked into daytrading. It took me a while to learn that a successful trader develops his/her own scanning criteria and trading plan. No one will or should give you specific scanning criteria to follow. Here's why:

A specific trading plan will only work for a specific trader with a specific psychological profile.

In other words, everybody is different. What works for one person will not work for another. For a trading plan to work for you, you first have to have confidence in the plan. In the end, the only plan that you will have confidence in is a plan that you developed yourself and tested over time.

There are a million trading strategies out there, and every one of them will work for a particular person, and not work for everyone else. If you truly want to be a successful trader, you must spend the time and energy to find and develop the trading plan that works for you.

I will recommend a few books. However, when you read these books, spend the majority of your time learning the method that these traders used to develop a trading plan that worked for them. If you master a good method of developing your own plan, you will be many steps beyond everyone else in the trading world.

1. "High Probability Trading" by Marcel Link
2. "How I Made $2,000,000 in the Stock Market" by Nicolas Darvas
3. "Reminiscences of a Stock Operator" by Edwin Lefevre

Charles
 
okay..i did some the advice ..read up more and more...read darvas etc...book(s) and well..im still in a confused state..

ill reask my question..hopefully it will make more sense and get answers im hopeing

Im looking to Swing trade stock/options, i have a bunch of stocks at the moment but they were Majority in 1 sector..so im trying to spread the cash i have between many diff stock sectors so i dont get outright bbq'd when sector im only in..gets riped to bits

Iv tried some stock scanners..but im stuck on what you guys and other stock pickers around are using as criteria to find the stocks to look at, wondering if anyone can tell me what criteria to add/avoid to the scanners so i can come up with a list of stocks.

Ps: im not blindly jumping into stocks that look pretty on stockscanner...i add the stocks to chart..and see if they fit my system..if they do i do the appropirate action..i just need help on how to find the stocks with the scanners
:(

Thanks anyone who replies..and had allready replied, all help is appreciated
 
OK.

Here is just one possible swing trade strategy. There are many, and you really need to find a strategy on your own that fits your trading style and risk tolerance.

Criteria:

1. Close of today is greater than or equal to 40.
2. 20 day Simple Moving Average (SMA) is greater than the 50 day SMA.
3. 50 day SMA is greater than the 100 day SMA.
4. Close of today is greater than yesterday's high.
5. Slow Stochastic %K for either yesterday or the day before is less than 20.

Buy tomorrow.

See Chart example.

Charles
 

Attachments

I used TCNet R/T when I was trading stocks last year. I think it's a pretty good all-around package for stock trading since it has charting, scanning, and real-time chat.

PM me if you decide to go with TCNet. I can point you to a good group of traders where you'll get a lot of education and support.

-Fast
 
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