Identifying Best Stocks/Scanner/Swings/Gapups for Day Trading

K

Krish_Jags

New member
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Hi guys -


I joined this forum and it was very helpful. Thanks for all the contributors from leader board especially “Ben”. Lot of useful info in forum.


I am new to stocks trading and its been 1 month so far I started trading stocks. I tried different ways from different stock alerts providers to buy/sell stocks, but they are not much helpful or not even close to info I learnt from this group.


So far - I learnt about when to buy/sell stocks, based on indicators strategies provided in this forum. But sometimes the stocks I sold will take a swing on same day with in minutes or hours and rise to even more profits.I feel bad for selling early.

  1. I am curious to know if there is any script that can hint me about stock possibly go further up based on patterns or study?
  2. Most of my time goes away by researching what stocks to buy. I have multiple scanners/filters in my TOS platform which I got, but its little confusing to go over all the scanners I have and identifying each stock and doing research on each of the stock from each of the scanner/filter list. Is there a best scanner script that can help me to identify stocks that can take best swing or best gap up along with labels or indicators pls? This will help me a lot as beginner.

I really appreciate your help pls. I am interested in Day Trading @BenTen @tomsk @horserider @markos or anyone who can help me with my request pls.
 
K

KKaiser

Member
VIP
@Krish_Jags Would be great to see some suggestions, I am also in similar situation.
 
C

codydog

Active member
@Krish_Jags - never an easy answer to your questions, but, my very simple approach is to just stay with FAANG + BA + VIRT

imo, endlessly scanning for stocks I dont understand or never heard of, seems silly when the mkt favorites provide endless opportunities.

As fir missing out, FOMO is the greatest waste of time. If I capture some % of the move, I dont really care - i see this as a store where you buy and sell inventory all day and have an idea what price you want. And each day start fresh. I think Walmart used to have rules where they sold inventory at 15% markup and Waltons became very very rich.

I'm sure the gurus here will offer alot more and better advice.
 
MerryDay

MerryDay

Member
VIP
@Krish_Jags I agree with @codydog; analyzing, and becoming an expert on a limited set of stocks/futures/options is a better use of time versus endlessly scanning for stocks.

Familiarization with the trending patterns of what is being traded is helpful in determining the optimal entry and exit points.
That said; I was you. Jumping into stocks that "I thought" were positioned perfectly but jumping out at the first sign of trouble. Only for the stock to then go on a stupendous rally. I feel your frustration.

The blackFLAG FTS - SwingArm Trend Indicator using ATRTrailing Stop and Fibonacci Retracements thread is awesome to read through. I don't use the strategy but there are explanations for:
  • what and why certain studies/indicators are important
  • the proper use of support and resistance
AND most importantly
- the need to do multi-timeframe analysis to time your exits and entries.

HTH
 
C

csmith8044

New member
@codydog, @MerryDay - Good insite. Never looked at searching for stocks that way. However I think that's the way I'm going now. Find a great few and become an expert at those. Thanks for weigh in, appreciated!
 
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