Replies to post #152 on Cap's Trading Diary

[Omnitrader]

cap: as always great post i will make one comment and I hope this helps U.

When I scan for stocks I only want the cream of the crap. what do I mean by that:


if I scan for stocks using lets say a basic 14 stochastics and no twist with it and my price range is 1.00-5.00 I might get 300 hundred stocks

but if I put my twist on it and use a 66 stochastics with my 5-3 settings and it has to be in the green zone above the 65 line then all of sudden I only have to look at maybe 20-40 stocks. theres my cream of the crap

hope it helps

[lostcowboy]

Hi Cap thinks for posting about your board! One more board that I gotta keep track of! You said.
2. There are now five main strategies that I'm looking at, and I better be careful not to go overboard with this. The five are:

a. breakout trading for stocks from 1-5 dollars
b. bottom reversal trading for the same stocks
c. the mechanical trading system "Milestone" for very low priced stocks with high percentage movements
d. A version of Automatic Investment Management (AIM) for several long term mutual fund positions
e. A new daytrading strategy for stocks from 1-3 dollars (this is a brand new one)

3. None of these strategies is totally complete as far as having the details worked out and set down in my trading binder; gotta get cracking on that!! Get Cracking Man, Get Cracking! VBG! About your screening methods have you tried using the one on msn? http://moneycentral.msn.com/investor/finder/customstocks.asp It has a lot of options for screening, once you decide you want to keep watching a stock, you can send it to your portfolio screen and/or send it to the (compare with) window. you can put stocks in the (compare with) window directly. When the stock in the compare window turns red, it means it has just meat your screen requirements. If you need help working on the screens click on my name and send me a email and I will try to help.

PS now that Martha has been found guilty, I would think that daytraders would be interested in her company stock. A lot of uncertainty there. It should bounce around a lot.

[~ Susan ~]

Cap, just wanted to share a bit of my method for scanning/tracking stocks. First let me say I only get to actually watch the market for two 1/2 days a week however I make trades everyday. Even though I am not as active as most people here I still like to be prepared and this is how I learn.
I scan every night. (I run intraday scans when I am able)...I tweak and play with my scans from time to time. This way I find out what works for me.
I set my alerts every night. I add to my lists daily and on the weekend I review and purge where neccessary. Right now I mostly use price alerts and occasionally volume. My program has other options but I haven't played with many yet. There are too few hours in a day!
I have annotated charts for all of my alerts (support/resistance lines, triangles, channels, IHS, repeat patterns -when I recognise them- etc.) So when an alarm goes off and I pull up the chart I know exactly what I was looking at and take it from there.
My alert program also allows me to make notes for each ticker. My notes will include comments by some of the more experienced traders or simply something in the chart I want to remind myself about. Kinda like sticky notes only I don't wallpaper my wall with them anymore like I used to.

These are just a few of my methods to keeping organised and hopefully less emotional. It's alot of work especially at first but it gets easier as time goes by.