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Using Daily Screens

I use computer generated stock screens. Most of the traders I know use stock screens. But, most of the screens that I rely on are end of day screens. I generate the stock lists, study them in the evening and then plan my approach for the next day. Below I will give you  stock screens that I use every day to make money. Several of my screens are available only to Stock Alert subscribers. For the Stock Alert subscribers, I do the screening and pick the best candidate stocks. All that is left to you is to place the order with your broker. If you which to subscribe, just Click on this Link for Stock Alert.

 Usually, I start screening about 5P.M., after the market has settled down and final prices are available. After getting the stock lists together, I check the stock charts. Sometimes the lists have hundreds of stocks to peruse and sometimes none. Sometimes the majority of the lists are for going long and other times all the stocks are just short picks. Just knowing the potential number of candidates in one direction or the other gives me a bias for going long or short. I never let my  personal opinion of the markets direction interfere with the selection of day and swing trades.

When day or swing trading, you need use strict money management rules. As far as I am concerned, there is only one "Commandment" in trading. Discipline. That's it. You can read a dozen books on trading and they all have a dozens of rules. Use discipline and follow some basic rules. If you follow them, give yourself time to learn, success is yours.

Here's everything you need to be successful at trading:

  • Which stocks to buy or short

  • Price to buy or short

  • Price to sell or close the short

  • The number of shares per trade

  • The number of maximum trades permitted

  • Experience

Latter, I am going to share  some of the screens that we use at ARBTrading. Where possible I have included a link to Microsoft's Stock Screener so that you can do the work at home.

The prices to buy, sell, close and number of shares recommended is a personal choice. I have a list of money management suggestions for subscribers of Stock Alert. However, for recommended stock picks and prescreened Three Day Hammer selections, I do provide specific numbers for Stock Alert subscribers.

Experience is something you have to get on your own. Either it is done by studying from your mistakes or following someone else's trades. I did both and recommend this for most new and intermediate traders. Try out Stock Alert for a month and either paper trade my recommendation until you get more confidence or trade along with me.

Click Here for Stock Screens >>>>

 

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