Filtering for Potential Trades

[charcoalstick 10]

Hi,

 

How u guys filter off the wide universe of stocks to shortlist potential trades?

[That One Guy 10]

Would all depend on, what you perceive to be an opportunity. Be it support and resistance, moving average crossovers or pattern recognition. (Just to name a few)

From there it would be easier to filter down potential trades. I'd recommend checking out a nice website that has tons of stuff to filter trades, by the criteria you define.

 

http://WWW.FINVIZ.COM

Hope this all helps and good luck.

[brownsfan019 17]

That is one advantage to trading futures - you already know what you will be focusing on for the day. Some just trade one e-mini product and that's it.

[Guest forsearch]

Try filtering your stocks using RSI(2). I'll leave the rest up to you to figure out the relevant associated triggers and their validity.

 

But then again, I'm focused on trading index futures, not individual stocks. Good luck.

 

-fs

[Sledge 13]

Try filtering your stocks using RSI(2). I'll leave the rest up to you to figure out the relevant associated triggers and their validity.

-fs

 

RSI(2)- WOW that has to be one mindblowing chart! Quick hits eh fs?

[Guest forsearch]

Not necessarily, when used on a long-term (daily chart or greater).

[atto 20]

charcoalstick, the problem you'll deal with is that not all trades are created equal. You have to discover what works for you.

 

For instance, if you're a trend trader, a good filter might be 5 period MA above 30 period MA. This, of course, wouldn't be used alone, but would do a good job keeping you out of bear markets (for longs). You may look for overbought/oversold signals if you're a reversal trader.

 

You will be pressed to find a system that just uses conventional indicators (RSI, MACD, MA's, Stoch's, etc) and is profitable. At the end, you're the person pushing the button. Therefore, screen time is extremely valuable.

 

Speaking of indicators, try not to fall into a quest for a holy grail indicator. To my knowledge (and trust me, I've looked), it doesn't exist. If you create/discover one, I advise you to keep it secret . Personally, I don't use indicators. Some people do. Again, try to find what works for you.

[vladv 10]

atto,what do YOU use,then?

[bootstrap 47]

if you want a stock filter here ya go. hopefully this will give you an idea of where to start.

 

long - above 21EMA

shorts - below 21EMA

 

Inside day with high volume

 

the rest is up to you.