Trading ideas th'ks to diogenes227
Do not waste your money. Not a single dime. No one needs an INTRADAY stock screener. That's like firing a shotgun every day and trying to buy the single shot out of ten thousand that goes the farthest. Ridiculous. And impossible to do.
As a novice, you should first read this (several times, and take special note of item four):
5 SIMPLE THINGS ALL WEALTHY TRADERS DO (CLICK REPLY BUTTON)
Now pick the one thing (ETF, future, stock) you want to trade -- the ONE THING! You can make plenty of money playing the swings on one stock. On one ETF. In swing trading, it's the swing that matters, not the vehicle. Swing traders make money on anything they choose to trade once they have the persistence, the discipline and the experience to trade it well.
There are only four things that can happen on a swing trade (any trade for that matter) -- you have a little winner, you have a little loser, you have a big winner, you have a big loser. You can do nothing about the little winners and little losers (that's the market), but you have to be able to eliminate the big loser or you will not be able to play this game for long, and if you can't play you can't get the big winners.
Once you have your vehicle, you need to study it, study it, study it until to you can eliminate the big loser every time. That means you study price movements, stops, time frames, volume, technical indicators (this is not investing), whatever it takes to get rid of the big loser. Once you've done that, you can think about profits. You need a swing system. There is no intraday stock scanner that can help you with this; in fact, it's more likely it'll have you jumping around grabbing one big loser after another.
If I may offer a couple of shortcuts. As you can tell from this thread I believe the market move matters the most. You don't need a intraday shotgun if you pay attention to what the market is doing. Most stocks (not all, most) move with the market, up and down. I use the McClellan Summation indexes on the New York Stock Exchange and the Nasdaq to tell me what the general market is doing. I suggest you pick a stock and play it in the direction of the general market.
For instance what happened fundamentally with Google in that month from early June to early July that took it from 447 to 395? Probably not much fundamentally -- it was just a month. But the market slipped some and the NYSI declined sharply. When the NYSI turned up GOOG shot right back up to 464, and now has gone to 497 on this latest NYSI swing. Or -- holy cow! -- look at LVS! LVS went from 2 to 12, back to 6 and now to 20 since the March market bottom, all in lockstep with the NYSI. On a NYSI time frame, that is swing trading.
Forget the intraday stock scanner and find yourself a single GOOG, or a single LVS or a GDX or a IWM, or a soybean future (if you must), whatever, and study, study, study it until you can trade it well and then trade it. Hope this helps.
Good luck to you, and good trading. smile.gif
P.S. Thanks for the question. It's helped me refresh my thinking on what exactly I try to do consistently -- which is, "simplify, simplify, simplify."
Do not waste your money. Not a single dime. No one needs an INTRADAY stock screener. That's like firing a shotgun every day and trying to buy the single shot out of ten thousand that goes the farthest. Ridiculous. And impossible to do.
As a novice, you should first read this (several times, and take special note of item four):
5 SIMPLE THINGS ALL WEALTHY TRADERS DO (CLICK REPLY BUTTON)
Now pick the one thing (ETF, future, stock) you want to trade -- the ONE THING! You can make plenty of money playing the swings on one stock. On one ETF. In swing trading, it's the swing that matters, not the vehicle. Swing traders make money on anything they choose to trade once they have the persistence, the discipline and the experience to trade it well.
There are only four things that can happen on a swing trade (any trade for that matter) -- you have a little winner, you have a little loser, you have a big winner, you have a big loser. You can do nothing about the little winners and little losers (that's the market), but you have to be able to eliminate the big loser or you will not be able to play this game for long, and if you can't play you can't get the big winners.
Once you have your vehicle, you need to study it, study it, study it until to you can eliminate the big loser every time. That means you study price movements, stops, time frames, volume, technical indicators (this is not investing), whatever it takes to get rid of the big loser. Once you've done that, you can think about profits. You need a swing system. There is no intraday stock scanner that can help you with this; in fact, it's more likely it'll have you jumping around grabbing one big loser after another.
If I may offer a couple of shortcuts. As you can tell from this thread I believe the market move matters the most. You don't need a intraday shotgun if you pay attention to what the market is doing. Most stocks (not all, most) move with the market, up and down. I use the McClellan Summation indexes on the New York Stock Exchange and the Nasdaq to tell me what the general market is doing. I suggest you pick a stock and play it in the direction of the general market.
For instance what happened fundamentally with Google in that month from early June to early July that took it from 447 to 395? Probably not much fundamentally -- it was just a month. But the market slipped some and the NYSI declined sharply. When the NYSI turned up GOOG shot right back up to 464, and now has gone to 497 on this latest NYSI swing. Or -- holy cow! -- look at LVS! LVS went from 2 to 12, back to 6 and now to 20 since the March market bottom, all in lockstep with the NYSI. On a NYSI time frame, that is swing trading.
Forget the intraday stock scanner and find yourself a single GOOG, or a single LVS or a GDX or a IWM, or a soybean future (if you must), whatever, and study, study, study it until you can trade it well and then trade it. Hope this helps.
Good luck to you, and good trading. smile.gif
P.S. Thanks for the question. It's helped me refresh my thinking on what exactly I try to do consistently -- which is, "simplify, simplify, simplify."
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