Daily Watchlist of Stocks Discussion for ThinkOrSwim

[MerryDay]

Frequently Asked Questions About Daily Watchlist of Stocks:
https://usethinkscript.com/threads/daily-watchlist-of-stocks-to-day-trade-weekly-options.1023/

Criteria:
Only a select and curated list of mostly large cap tech stocks are watched.
Here is the watchlist @BenTen and @MasterSteve use https://tos.mx/aulPuHR
The below scan is run after hours.


Timeframe:
This strategy is for scalp trading only. @MasterSteve says:

I expect to see a move the very next day, or I’m out of the trade.

Direction:
There is no expressed direction in the watchlist.
You need to use indicators such as Support&Resistance, Trend/Momentum, and Volume in your attempt to determine the sentiment.

Scanner:
To scan for the pattern called Blast-Off. Use the study found here:
https://usethinkscript.com/threads/blast-off-indicator-for-thinkorswim.621/page-8#post-119487
Scan for Arrow is true

We set up a scanner with that list and set the condition to be if the blastoff indicator is True. Then it'll print out a list of the expected movers for the next day.

Watchlist
For those just starting out, @MasterSteve recommends:
We come up with the watchlist every day using the blastoff indicator https://usethinkscript.com/threads/blast-off-indicator-for-thinkorswim.621/ on our tech watchlist (https://tos.mx/aulPuHR)

We've found that if a stock appears on this watchlist, it is very likely to move the next day. There are thousands of opportunities to make money every day in the stock market. Our goal was to make a limited watchlist with the most likely movers so it would be easier to make money. People could take this, watch just a couple stocks, and enter according to their own risk tolerance.

Yeah, a typical scalp trade I'll take either end of week or the next week expiration. I usually like to enter at the money and out of the money plays, usually for a quick 15 min- 3 hour play at the most. I don't much pay attention to delta at the time. I don't intend on waiting a long time for the play to develop, just looking for quick move.

I would keep with in the money or close to the money strikes with at least a couple weeks out to play it safe until you get more familiar with trading. I've found going too far out of the money on a subweekly timeframe can lead to account blow ups quick.

Read more here: https://usethinkscript.com/threads/daily-watchlist-of-stocks-to-day-trade-weekly-options.1023/

 

[MasterSteve]

you think a reverse iron condor is a good move for something like this? maybe 2 weeks out or something

The intention is for a quick intraday play. I don't think that this indicator would help develop a reverse iron condor position.

 

[JIMDAVID99]

Watchlist for October 21st, 2022

AMD
BABA
DIS
ADBE
EA
AAPL

So where is direction on your watch list (i.e. up or down?) Thanks

 

[TapthatAsk]

Watchlist for November 17th, 2022

AMZN
NKE
AAPL
MA
EA
GS

@MasterSteve so how are you choosing the direction on these that are on the watchlist and what in general is making you look at these particular tickers?

 

[MerryDay]

So where is direction on your watch list (i.e. up or down?) Thanks

@MasterSteve so how are you choosing the direction on these that are on the watchlist and what in general is making you look at these particular tickers?

https://usethinkscript.com/threads/daily-watchlist-of-stocks-questions.7585/#post-81013
https://usethinkscript.com/threads/...re is no expressed direction in the watchlist.
https://usethinkscript.com/threads/daily-watchlist-of-stocks-questions.7585/page-5#post-110493

How to search for answers to any additional questions:
https://usethinkscript.com/threads/search-the-forum.12626/

 

[sonnytrader]

@MasterSteve
Curious what strategy you use for buy sell decision....and could you share...Its a big ask I've been using price of control I learned on trading view and I'm getting used to TOS at the moment....a lot of scripts here just trying to simplify decision

 

[MasterSteve]

@MasterSteve
Curious what strategy you use for buy sell decision....and could you share...Its a big ask I've been using price of control I learned on trading view and I'm getting used to TOS at the moment....a lot of scripts here just trying to simplify decision

Hi Sonny, I used to get direction using unusual options activity from CBOE, but found over the long term that activity didn't lead to good returns. I decided to leave it up to the user's discretion as I couldn't find one strategy that worked well consistently, but still wanted to keep publishing the watch list as it narrows down the list of potential movers to watch.

 

[MerryDay]

Curious what strategy you use for buy sell decision....and could you share...Its a big ask I've been using price of control I learned on trading view and I'm getting used to TOS at the moment....a lot of scripts here just trying to simplify decision

Start reading here:
https://usethinkscript.com/threads/daily-watchlist-of-stocks-questions.7585/#post-81013
over the many years that @MasterSteve has generously provided this watchlist on a daily basis, every question that you can think of, has been asked of him. These six pages are a compilation of the answers.

 

[ganapa221]

Watchlist for December 30th, 2022

BA
COST
WMT
PEP
MCD

How do I subscribe to these alerts? Thanks.

 

[MerryDay]

How do I subscribe to these alerts? Thanks.

Isn't @MasterSteve awesome? You can sign on to the forum every morning and click on:
https://usethinkscript.com/threads/daily-watchlist-of-stocks-questions-for-thinkorswim.7585/ to see his watchlist.

 

[newTadpole]

Appreciate the contribution and Happy New Year to all, although currently option is beyond my reach.

 

[webattorney]

@MasterSteve, Is there a link to the Blastoff scanner? Is the only condition to set the Blastoff indicator to True? That's all? Also, can you set different time frame for the Scanner or do you have to set it to Daily? Check External Hours or don't check it? Thanks.

 

[MerryDay]

@MasterSteve, Is there a link to the Blastoff scanner? Is the only condition to set the Blastoff indicator to True? That's all? Also, can you set different time frame for the Scanner or do you have to set it to Daily? Check External Hours or don't check it? Thanks.

Scanner:
https://usethinkscript.com/threads/blast-off-indicator-for-thinkorswim.621/page-8#post-119487

Answers To Questions:
https://usethinkscript.com/threads/...ks-questions-for-thinkorswim.7585/#post-81013

 

[MasterSteve]

@MasterSteve, Is there a link to the Blastoff scanner? Is the only condition to set the Blastoff indicator to True? That's all? Also, can you set different time frame for the Scanner or do you have to set it to Daily? Check External Hours or don't check it? Thanks.

Yes only condition to set to True, no to different time frame. I only check external hours to grab the indication for the next day.

 

[kartik2272]

Watchlist for Feb 17th, 2023

BYND
ROKU
BABA
TGT
PYPL
ADBE
AAPL
COST
EA
GS

Looking forward to update for the week of 20th

 

[TradingNumbers]

How do you determine the direction to trade these?

 

[MerryDay]

How do you determine the direction to trade these?

There is no expressed direction in the watchlist.
You need to use indicators such as Support&Resistance, Trend/Momentum, and Volume in your attempt to determine the sentiment.

Read more:
https://usethinkscript.com/threads/daily-watchlist-of-stocks-questions-for-thinkorswim.7585/

 

[Optionquant]

Watchlist for March 15th, 2023

BYND
ROKU
NFLX
ADBE
NKE
BA

Hi MasterSteve, i highly appreciate the watchlist made everyday. Just wanted to know what is the watchlist based on ? IV, volumes, gaps or other criteria ? thanks.

 

[MerryDay]

Hi MasterSteve, i highly appreciate the watchlist made everyday. Just wanted to know what is the watchlist based on ? IV, volumes, gaps or other criteria ? thanks.

https://usethinkscript.com/threads/...ks-questions-for-thinkorswim.7585/#post-81013

 

[SallyLarson]

In all seriousness, its kind of a crapshoot either way. In Tesla's past, these types of events more often than not have ended with it going down after a release. But anything can happen, if the truck unveiled was above wall street's expectations, this stock could opened at $370. Hard to say with Tesla, but in general, I usually buy the hype and sell the news.

 

[MasterSteve]

In all seriousness, its kind of a crapshoot either way. In Tesla's past, these types of events more often than not have ended with it going down after a release. But anything can happen, if the truck unveiled was above wall street's expectations, this stock could opened at $370. Hard to say with Tesla, but in general, I usually buy the hype and sell the news.

Is this on the right post?