All Entries Tagged With: "StockFinder"
Reminder: Webinar Tonight!
December 7, 2010 at 2:07 pm
Here’s a quick reminder about tonight’s free trading webinar, as I would love to see you there if possible.
Update: here’s a link to the webinar recording – enjoy!
Weighing Risk & Reward with TheStockBandit
I’m excited to run through a number of interesting chart setups, from both the bullish and bearish sides, in order to teach you some concepts and of course put some quality plays on your radar.
I also plan to share with you the most powerful pattern I’ve been trading in recent weeks.
The webinar is scheduled to run 45 minutes, with 15 of those minutes set aside at the end for Q&A and a look at your favorite charts.
Visit this link for registration to the 8pm ET webinar:
Weighing Risk & Reward with TheStockBandit
See you tonight!
Jeff White
Producer of The Bandit Broadcast
Are you following me on Twitter yet?
Narrow Your Scope With Basic Stock Filters
October 27, 2010 at 11:09 am
Each night I work through literally hundreds of charts, aiming to find those setups with an edge. They’re the ones which allow me to not only clearly define my risks, but also offer potential profits which greatly outweigh those initial risks.
I’m asked quite frequently by traders how I narrow down the universe of stocks to a more manageable list. The short answer is to start with price and volume filters in order to eliminate the low-dollar stocks, as well as those with poor liquidity. That alone will give you stocks to consider which aren’t as highly-speculative as penny stocks, as well as stocks which are liquid enough that there should be a buyer when you go to sell and a seller when you go to buy.
Beyond those basic filters though, you may still wish to narrow the list. In the charting program I use, dozens and dozens of additional filters are available. Among them are things such as Beta, Trade Range, Average True Range, Expanding Trade Range, Contracting Trade Range, and a lot more.
Just that brief list is enough to help locate stocks which move faster than the broad market, or to eliminate names which simply don’t move enough.
Base Filters on Broad Market Movement
When dealing with ‘trade range’ types of filters, you can accomplish a lot. For example, you might generally use Average True Range to knock out stocks which don’t fluctuate much, helping you to eliminate the ultra-quiet stocks. When the market is starting to break out, look for Expanding Trade Range to help you locate stocks which are likely participating in the move or gaining momentum. When the market has made a big move already and is beginning to rest, use Contracting Trade Range to locate more stocks which are basing and may be starting to create patterns.
Don’t seek a one-size-fits-all filter, because it doesn’t exist. Keep an open mind, and put some thought into what it is you’re wanting to find. Stay flexible in your approach, and you’ll continually be able to avoid wasting time sifting through stocks which aren’t worth a second look.
The key to effective filtering is to learn over time how and when to vary the filter you’re using based on general market conditions. As you develop that skill, you’ll get really efficient at narrowing down the universe of stocks to a more manageable, appropriate list, depending upon whatever conditions you find yourself trading in.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Are you following me on Twitter yet?
How I Maintain Multiple Watch Lists
June 18, 2009 at 7:21 pm
I’ve been known to periodically emphasize the importance of watch list management and maintaining quality watch lists, but it’s time I show you exactly how to go about doing that. This is absolutely essential to staying sharp as a trader, because it avoids one of the primary pitfalls of today’s trader – indecision.
Perhaps you’ve been there before. The market shifts from not doing anything to suddenly gaining momentum, leaving you with zero positions on. Quickly, the fear suddenly strikes you that you’re getting left behind.
Yes, the summertime can be known for that, but it can happen anytime. And it’s quite irritating to get caught feeling flat footed when the market bolts.
My Solution
I kept feeling like I needed a way to manage my favorite setups, but I didn’t quite know the best way to accomplish it. I’ve maintained bullish and bearish watch lists for years, but they were always separated and it was tedious to add and remove stocks to the respective list.
If you’re anything like me, “tedious” diminishes the likelihood of that getting done regularly, because let’s face it – we’re all pressed for time these days.
Well, thanks to the folks at Worden who made this possible, StockFinder’s Flag Column feature provided the perfect solution. I set up multiple flag columns tied to new watch lists, and I’ve been absolutely thrilled at what it’s done for me.
With ease, I can now add and subtract stocks from various watch lists with a quick double-click, which means there’s virtually no time involved, and more importantly, I am staying organized.
When the market moves now, I have a go-to list of names for the appropriate scenario that I can immediately turn my attention to. It’s made a HUGE difference in my decision-making, and it didn’t require that I turn into a super-organized person (that probably wasn’t going to happen!).
Show & Tell
Instead of writing a 2000 word essay on how to do this, I’ve created a quick tutorial to show you how to build a layout exactly like I use. I posted this same clip over on the Trading Videos site and perhaps you’ve seen it there, but in case you didn’t, I wanted to put it here on the blog.
Let me highly suggest viewing the HD version and going full-screen. You’ll want to see the detail.
Oh and if you aren’t already using this software, you can give it a try for 30 days free. I use it every day and can’t imagine trading without it, so I can’t endorse it highly enough.
Here’s the link to download the 30 day trial – I’m guessing you’ll keep it like I did!
Thanks for stopping by and I’ll see you here soon with more. Until then…
Trade Like a Bandit!
Jeff White
President, The Stock Bandit, Inc.
Swing Trading & Day Trading Service
www.TheStockBandit.com
[tags]Stock Market, Day Trading, Stock Trading, Investing, Swing Trading[/tags]
Reminder: Webinar Tonight!
June 9, 2009 at 10:50 am
Here’s a quick reminder about tonight’s free trading webinar, as I would love to see you there if possible.
Chart Reading with TheStockBandit
I’m excited to run through a number of interesting chart setups, from both the bullish and bearish sides, in order to teach you some concepts and of course put some quality plays on your radar.
The webinar is scheduled to run 45 minutes, with 15 of those minutes set aside at the end for Q&A and a look at your favorite charts.
Visit this link for registration to the 8pm ET webinar:
Chart Reading with TheStockBandit
See you tonight!
Jeff White
President, The Stock Bandit, Inc.
Swing Trading & Day Trading Service
www.TheStockBandit.com
[tags]Stock Market, Day Trading, Stock Trading, Investing, Swing Trading[/tags]
