Real Time Bull Flag Momentum Scanner
For the Momentum Strategy, as I explained above, you need to find low float stocks that are
moving. You cannot find these stocks unless you are using a good scanner. I am using the Trade
Ideas scanner. (
www.trade-ideas.com
).
My intraday real time Bull Flag Momentum scanner.
In the screenshot above, you can see how I am scanning real time for my Momentum Strategy.
During the day, the scanner is finding stocks that have high relative volume, low float, and high
activity. I then check them in my trading platform and decide, based on my Momentum Strategy
set out in Chapter 7, if I want to trade them.
Real Time Reversal Scanners
Top and Bottom Reversal Strategy is another type of strategy that you cannot find stocks for in
the pre-market. You must have an intraday real time scanner. Here is an image of a Top and
Bottom Reversal scan:
My intraday real time Reversal scanner.
As you can see, I am scanning the market real time to find stocks that are selling off or surging
up so I can trade my Reversal Strategies. You can read more about these strategies in Chapter 7.
I won’t go into the details here about how to make these scans, but I will explain in Chapter 7
under each strategy the specifics of what to look for in stocks in each category. If you develop
new strategies for yourself, you can define new scanners for yourself. These scanners are highly
adjustable and you can change the parameters as you like. These are the parameters that work
for me, but as you gain experience and learn more about other strategies and your trading style,
you may very well decide to define new scanners for yourself.
Many new traders don’t initially need a scanner. If you join a community of day traders such as
www.Vancouver-Traders.com
, you will be able to see my scanner in real time. These scanners
are costly, around $100 per month, so at the beginning of your career transition to day trading,
you will probably want to keep your expenses down as much as possible.
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