What do you scan for?

[deaddog]

I scan for stocks making new highs.
I then filter using price, volume, volitility.
I use stockcharts.com; I have the "Extra" subscription option

 

[mikeriley]

I wait for Oil, ES, NQ and DOW to hit my
levels. If it's slow I scan MSNBC, seeking alpha
motley fool and stocktwits as a contrarian indicator.

 

[smallfil]

And what do you use to scan?
NOOB QUESTIONS, I I KNOW, DONT BEAT THE SHIT OUT IF ME.

something I’m struggling with.
Should I have a “universe of 500 stocks that I use as a place to find ideas? What should I be screening for to find good ideas? What platform should I use to scan/screen for ideas.
I see comments here and on FinTwit like”doing my nightly scan”.
I know some use FINVIZ. I don’t know how to use it properly, other than scanning for the right sectors.

help?

You use screeners to focus on the strongest stocks in the strongest sectors. If you go to Finviz.com, at a glance of the groups, you see which groups are the strongest. Then, after you go to the groups, you can display the stockcharts. If there is a huge number, you can tighten the screener to limit the number. Say you have 350 companies being displayed by Finviz.com, set tighter limits. I would add 52 Week High as one criteria to take the strongest trending stocks, add optionable (since, I trade options), $10 and up or $20 up to cut down the number further, 1 million shares as volume. I just gave you the screen I use on Finviz.com
Make sure you are logged into Finviz.com so that, you can save the screener. Since, the strongest group changes, you can just change the strongest group in your screener but, if you pull it up everyday, it should display some stocks to check out further. You can now create a watchlist of stocks to further analyze and pick from, some stocks to trade in the stockmarket.

 

[KGTrader4]

Thanks smallfil, good stuff, very helpful

 

[smallfil]

Thanks smallfil, good stuff, very helpful

The strongest sector still is Energy. I got AMPY, BSM, CVI, CVX, EQT, MPLX, NR, OXY, RES, RRC from the Finviz.com screener.

 

[Bad_Badness]

BB thanks it does help.

curious, you said you used to. Why did you stop?

It was only good in certain markets so I went onto day trading which works in all markets.

 

[Leob]

And what do you use to scan?
NOOB QUESTIONS, I I KNOW, DONT BEAT THE SHIT OUT IF ME.

something I’m struggling with.
Should I have a “universe of 500 stocks that I use as a place to find ideas? What should I be screening for to find good ideas? What platform should I use to scan/screen for ideas.
I see comments here and on FinTwit like”doing my nightly scan”.
I know some use FINVIZ. I don’t know how to use it properly, other than scanning for the right sectors.

help?

I would suggest to focus on 1 market.

 

[tomkat22]

Different strategies require different scanners. You pick your strategy then you pick your scanner. I use 3 or 4 different scanners to find what I'm looking for. No offense but I'd rather not say what I'm looking for.

 

[Peter8519]

In 2017 to early 2018, DJIA gain 6000 points and the next 4 years gain another 6000. DJIA from 2017 to 2022, the volatility has increased since. During low volatility period e.g. 2017, the gain is not subjected to much mean reversion. From 2018 onward, volatility has increased and so is mean reversion. Aware of volatility enable us to set the stop loss to stay with the trade. TA or FA scanning both have their pros and cons and no method is perfect.
This is DJIA candlestick chart with bollinger band.

 

[NorgateData]

Scans are something you only do after you've competently backtested it (without biases, such as survivorship bias or lookahead bias) and determined you have a statistically-significant edge...