How to Find Killer Setups With One Stock Scanner

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There are thousands and thousands of stocks to trade ... So how do you find those really awesome setups? If you don’t use a stock screener, it’s time to start. Need a little coaching? You’re in the right place! Today Tim Bohen shows you how to screen for setups that work for you.

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It doesn’t matter if you're a new, intermediate, or advanced trader — you can't watch or trade hundreds of stocks a day. You have to minimize.

Let’s start with the most basic stock scan. Every day trading mentor, book, or YouTube video talks about the same indicators: price, volume, and percentage gains. These are the biggest things you want to look for.

Let’s start with what we call a ‘basic gainers scan.’ You want to expand the price criteria and add a code block. Change the criteria on the stock to get all stocks greater than $1. That will return every stock that's higher than $1. Don’t run it yet — you’ll get way too many matches.

Next, refine that criteria for stocks less than $10. This is classic penny stock land, so only stocks from $1 to $10. That's a solid price range to focus on if you trade with a small account.

Next, add in your percentage change criteria. If you're a new trader, you should probably avoid stocks that aren’t up at least 10%. Maybe even go higher, like 20%.

If you're under the pattern day trade rule (PDT), you've got three round trips a week and overnight trades. That’s it. Your options are limited. You've got a limited supply of trades, so focus on the biggest movers.

Now, you wanna add liquidity. This will tell you that the stock is actually active on the day. If there's a $1 stock that's up 50%, don’t get excited just yet ... If it’s only trading a thousand shares a day, that stock’s not liquid enough to trade.

You can't trade a stock that's up on a thousand shares a day. It's impossible. Even if you're trying to trade 10 shares of that stock, the slippage will eat you up because the stock is illiquid. So look for a stock that's trading one million shares a day or more.

That’s your basic criteria. Set it up and run it. You can take a sea of information and narrow it down to a handful of matches of the most volatile stocks. That’s how you find biggest low-priced movers of the day.


#StocksToTrade #StockScanner #BestSetups
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