I look at FTSE100 only and follow this approach...
Monthly:
Look at all FTSE100 1 year charts.
Re-assess and filter down to top ~85 for volume and movement.
Weekly:
Look at these ~85 charts.
Mark on all Trends, Support & Resistance, Double Tops & Bottoms, Head and Shoulders, Cup and Handles, Flags and Triangles etc
Re-assess and filter down to top ~10 approaching these important levels.
Daily:
Look at these ~10 charts - get to know and love them!
Hopefully, somewhere in this set you have stocks that are capable of moving, have decent volume and are about to become tradable.
This is basically a copy of a strategy provided by TBS but I like it.
S
Monthly:
Look at all FTSE100 1 year charts.
Re-assess and filter down to top ~85 for volume and movement.
Weekly:
Look at these ~85 charts.
Mark on all Trends, Support & Resistance, Double Tops & Bottoms, Head and Shoulders, Cup and Handles, Flags and Triangles etc
Re-assess and filter down to top ~10 approaching these important levels.
Daily:
Look at these ~10 charts - get to know and love them!
Hopefully, somewhere in this set you have stocks that are capable of moving, have decent volume and are about to become tradable.
This is basically a copy of a strategy provided by TBS but I like it.
S
I use stockwiz.com for the top US stocks (ranked by priceXvolume excluding those beneath $10), setting up to scan for volume bursts, then sort in order. Then set up 5 or so and take a breakout of the days high/low regardless of where the close is, and whether I think that it should be a long or short.
rog1111
rog1111
Pervaz said:
theknifemac
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rog1111 said:
Rog
How long do you wait for the high / low range to form ? I've been looking at opening range breakouts with mixed success.
Stew
Pervaz,
The first step, i.e filtering down to ~85 is automated. I just insert the monthly volume and price range, and out pops the top 85.
The second step took a long time the first time I did it as I had to go through each one and mark on all the major trends, S&R etc, (Month, Week and Day) but once they're there they don't change much so it speeds up.
The final stage is just looking a ~10 charts so can be done in an hour or so.
It works for me, I like to mix of automation and visual analysis.
S
The first step, i.e filtering down to ~85 is automated. I just insert the monthly volume and price range, and out pops the top 85.
The second step took a long time the first time I did it as I had to go through each one and mark on all the major trends, S&R etc, (Month, Week and Day) but once they're there they don't change much so it speeds up.
The final stage is just looking a ~10 charts so can be done in an hour or so.
It works for me, I like to mix of automation and visual analysis.
S
des44
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I scan the evening of each trading day. My first scans are derived from a software module that works with my trading platform called Trade Seeker. If I could marry Trade Seeker I would. It's been a fine tool (used for daily patterns) to give me breakout prospects along with an array of other scans such as stocks bouncing off their rising 20dma, stocks with 200% increase in volume (in one day), and stocks that have made lower lows for 6 consecutive days.
My next stop is to www.investors.com to get my IBD's top 100 stocks. These are called C.A.N.S.L.I.M stocks. Go to the web site to learn more. I have been riding three of these 100 for sometime and making some good money (URBN, SWN, and SNDA).
Each evening I'll look at roughly 200 charts, and after awhile you will start to get pretty fast at scanning them. You'll recognise patterns fast. I write down my potential stocks in a list for two groupings: 1) FOCUS list are those that I am serious about, and 2) WATCH list are those stocks that show me pretty patterns developing, but their just not ripe yet. I put them all in my trading platform to watch and set my stop buy orders for those on my FOCUS list.
My favorite pattern is a breakout pattern when stock's price bases (consolidates) on a swing high when the stock is in an obvious up trend. What really does it for me is if the base creates an ascending triangle. I am "ALL-IN". However, I only set a stop for a buy order above the base's highest previous high. This ensures that I ONLY enter a stock if (and only IF) it breaksout. I call these stop orders my "bull traps."
d-
My next stop is to www.investors.com to get my IBD's top 100 stocks. These are called C.A.N.S.L.I.M stocks. Go to the web site to learn more. I have been riding three of these 100 for sometime and making some good money (URBN, SWN, and SNDA).
Each evening I'll look at roughly 200 charts, and after awhile you will start to get pretty fast at scanning them. You'll recognise patterns fast. I write down my potential stocks in a list for two groupings: 1) FOCUS list are those that I am serious about, and 2) WATCH list are those stocks that show me pretty patterns developing, but their just not ripe yet. I put them all in my trading platform to watch and set my stop buy orders for those on my FOCUS list.
My favorite pattern is a breakout pattern when stock's price bases (consolidates) on a swing high when the stock is in an obvious up trend. What really does it for me is if the base creates an ascending triangle. I am "ALL-IN".
However, I only set a stop for a buy order above the base's highest previous high. This ensures that I ONLY enter a stock if (and only IF) it breaksout. I call these stop orders my "bull traps."d-
Salty Gibbon
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Check out the thread entitled " Scanners" started by Naz.
