Scanning the Universe of Stocks is never a good idea. There are some real dogs out there.
Consider improving your scan results using whichever of the below refinements fit your trading style:
1. the VIP Magic Scan can eliminate basement dwellers and assist in defining entry zones
https://usethinkscript.com/threads/vip-supertrend-trendmagic.20201/
2. depending on what type of volatility, you are comfortable with. Think about adding the Big Movers Scan
https://usethinkscript.com/threads/identify-the-big-movers.20100/
3. the Relative Strength Ranking can help if you want to limit your scan to the highest trending stocks that dip or to the riskier lower RSRs of greater reward
https://usethinkscript.com/threads/relative-strength-ranking-rsr.20076/
Are you a strong fundamentalist?
4. if so, you can include the VIP CanSlim scan which will limit your corral to stocks of the strongest fundamentals
https://usethinkscript.com/threads/canslim-scanner-vip-version.19419/
Keep in mind, the up and coming companies tend to run in the red, but can yield some of the best profit opportunities.
It is all about being able to define your comfort level with your risk vs your reward.
There are additional filters depending on how you define your trading style.
Read through this thread for examples of trades:
https://usethinkscript.com/threads/vip-supertrend-trendmagic.20201/#post-149037
https://usethinkscript.com/threads/vip-supertrend-trendmagic.20201/#post-149034
https://usethinkscript.com/threads/vip-supertrend-trendmagic.20201/#post-149083
Consider improving your scan results using whichever of the below refinements fit your trading style:
1. the VIP Magic Scan can eliminate basement dwellers and assist in defining entry zones
https://usethinkscript.com/threads/vip-supertrend-trendmagic.20201/
2. depending on what type of volatility, you are comfortable with. Think about adding the Big Movers Scan
https://usethinkscript.com/threads/identify-the-big-movers.20100/
3. the Relative Strength Ranking can help if you want to limit your scan to the highest trending stocks that dip or to the riskier lower RSRs of greater reward
https://usethinkscript.com/threads/relative-strength-ranking-rsr.20076/
Are you a strong fundamentalist?
4. if so, you can include the VIP CanSlim scan which will limit your corral to stocks of the strongest fundamentals
https://usethinkscript.com/threads/canslim-scanner-vip-version.19419/
Keep in mind, the up and coming companies tend to run in the red, but can yield some of the best profit opportunities.
It is all about being able to define your comfort level with your risk vs your reward.
There are additional filters depending on how you define your trading style.
Read through this thread for examples of trades:
https://usethinkscript.com/threads/vip-supertrend-trendmagic.20201/#post-149037
https://usethinkscript.com/threads/vip-supertrend-trendmagic.20201/#post-149034
https://usethinkscript.com/threads/vip-supertrend-trendmagic.20201/#post-149083
Last edited: