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I have been lurking for a while, both to get the flavor of the forums and to absorb some of the great info here. I am 4 months into reading, understanding, figuring out, imagining my way into trading. my plan is to learn as much as I can, put together a loose plan and ease into paper trading (ToS). Depending upon how quickly I can develop a good feeling for my own responses to the challenges, how solid a plan I can develop and my confidence level (and a chunk of cash), I have given myself up to a year to paper trade. my interest lies in swing trading and am really enjoying the pre-trading learning curve.
The area of information which seems very lacking, and which I feel the least comfortable with, is screening. So many resources gloss over it or jump right to indicators or reading the chart of your instrument of choice. I understand the mechanisms involved, I have spent a great deal of time playing with stockcharts.com and Finviz, but can anyone give me a point in the right direction...I mean other than, price <10,>5, and volume>1m.
I am not looking for a complete screening strategy that is going to point out patterns etc, just a solid understanding of the best way to whittle down a large number of stocks (say the Russell 1000) to a manageable watch list.
Thanks for any help in advance.
Can you help answer these questions from other members on NexusFi?
For months I've been wanting to get back to swinging stocks on the side. So now I am getting serious about it again, and have funded an MB Trading equities account just for this purpose. Still sticking with futures as my primary goal, but swinging …
and the advice.
I have read the thread previously and perhaps I worded my question incorrectly (such a beginner).
Lets just say that using only Finviz and wanting to pare the Russell 1000 down to a manageable set of charts...say 30 that I can look at on a daily basis and add to a watchlist if I find them interesting, what do you suggest as a strategic set of filters. Volume above 750 or a million...price between 5 and 10...anything else you typically use?
If you just want to get your whistle wet and try to find a few possibly good stocks, I use jstock and download all the indicators. Then you use the scan feature. I do the scan I select the up trend and buy signal indicators. Then you can use the sort buttons to list highest volume to the top down. then I look at change percentage and price (Im thinking where you want these numbers to be depends on how you want to trade) Im looking into a quasi day trade thing...so I want allot of change, with a low price, then I do my research from the symbol to see if its a company that could be worth my time. What your looking for largely depends on what you are looking to do in the market, i.e short term, long term, etc....Ive only been looking into this for the last week though, so.....
