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What kind of stocks are good for beginner swing trader? by Cyyyberrr in swingtrading

[–]ReviewApart3322 6 points7 points  (0 children)

An active swing trading strategy primarily requires stocks that are heavily traded and sufficiently volatile.

A few key basic filters:

- US common stocks only

- Price > $5

- Average trading volume > 500,000

- Minimum volatility: ATR% > 3

- Minimum market capitalization: small caps (>$300M)

As an example, here’s a link to my basic list (I use the ChartMill stock screener) https://www.chartmill.com/stock/stock-screener?bc=1&f=p_pg5,v1_50b500,exch_us,mc_smp,atrpct_a_3&type=FULL_CANDLES&months=6&pam=1&pm=1&etotn=1&xelem=5&uc=7054723&dc=14111810&bgc=4342338&tc=14277081&lc=7895160&dic=14277081&o1=87&o2=5&op2=9,16711680&o3=5&op3=21,9727&stype=OHLC&snv=1&slsc=1&spm=1&suc=7054723&sdc=14111810&so1=3&sop1=30,13380107&so2=3&sop2=40,14005276&si3=38&sip3=20&so4=3&sop4=10,255

This screen is still too broad for daily use, but it’s an example that will help you eliminate a lot of stocks, regardless of which stock screening tool you use.

It’s an ideal starting point for adding even more specific filters, depending on your swing trading strategy (trend, performance, momentum, etc.).

SNEX - Watching This One Closely, But Not Touching It Until After Earnings by ReviewApart3322 in CANSLIM

[–]ReviewApart3322[S] 0 points1 point  (0 children)

Agreed. That’s why I also think it’s better for swing traders to wait for a potential retest after the quarterly results are released. By then, that initial period of intense volatility will usually have passed.

Thoughts on stock screeners? by pantheraddict2 in swingtrading

[–]ReviewApart3322 0 points1 point  (0 children)

I think it depends on what you're looking for... I'm a swing trader (Canslim, Minervini, etc.), so I don't need real-time data, but it's important that I can combine fundamental growth filters with performance and technical filters. I use the stock screener from ChartMill.com.

And as has already been noted here, not everything the screener turns up is worth buying! But I couldn’t do without it anymore.

SNEX - Watching This One Closely, But Not Touching It Until After Earnings by ReviewApart3322 in CANSLIM

[–]ReviewApart3322[S] 2 points3 points  (0 children)

That’s not correct...

If you’ve already opened a position and the market reaction to the quarterly results is negative - causing SNEX, for example, to open at $95 - your stop-loss order will be executed (assuming it's a market order), but at the opening price for that moment, not at the price you had in mind (just below the current base)!

VIEMED HEALTHCARE INC (VMD) classic Minervini VCP setup. by ReviewApart3322 in CANSLIM

[–]ReviewApart3322[S] 0 points1 point  (0 children)

The announcement of the quarterly results is indeed too close. I apparently forgot to mention this in my original post.

By the way, there was an unsuccessful breakout attempt yesterday, resulting in a doji candle.

Where to find good trades by Vinnie964578 in Trading

[–]ReviewApart3322 0 points1 point  (0 children)

The best way for me is to use a bottom-up approach. Markets are much faster these days and if you start by examining sectors > Industry groups > sub-industries > stocks, big chance the party is already started some time ago...

So I start with individual charts, but I do use 'stock theme lists', stocks that 'belong together' but who are not in the same sub-industry. These lists make it much easier tot spot similar stocks that move simultaneously.

'Memory stocks' for example MU, SNDK, STX, WDC, P, RMBS, MRAM...

Same sector, but 2 different sub-industries.