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How To Build A Winning Watchlist With Tim Grittani - YouTube
Channel: Timothy Sykes
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- What's up?
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Tim Sykes, Millionaire
Mentor and Trainer here
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with a very special interview
with my top student,
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Tim Grittani, who has turned 1,500 now
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into over seven million dollars.
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It wasn't easy, it
didn't happen overnight.
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Learn from his journey.
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(electronic music)
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- Early in my career,
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one thing it took me a while
to start doing on my own
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that I think made a big difference was
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building my own watchlists.
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And the process of building the watchlist,
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I mean it's not an exact science.
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There's no exact, strict
guidelines I think
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any one person should follow because
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it goes back to the idea again
of everybody is different,
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everybody has different setups
that they're looking for.
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Now, for me, I was always looking
for plays with volatility.
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Plays trading unusual volume.
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That's what I was drawn to.
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And the easiest way
for me to find that was
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to use stock scanners.
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I think that they are an incredible tool
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and that any trader at
any level should probably
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be using form of stock scanner.
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My scans, again, I don't
get too complicated with it.
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I really do like to keep things simple.
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So, I'm not looking for
stocks that are doing anything
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wild or unusual.
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I just go ahead and run a
basic scan on percent gainers.
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That really is about all there is to it
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with a volume requirement.
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So, an example of what one of
my scans might look like is
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I tell the scanner to show
me all stocks that are
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up at least 10% on the day,
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have traded at least three
million dollars in volume
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and that is one filter
that some scanners have
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that others don't that I
think is really helpful
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because if you just try
to put in a share number
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for volume, like say show me
all stocks that are traded
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a million shares or more,
that are up 10% on the day
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the problem you run into
is that a million shares is
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very different in terms of liquidity for,
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say a five cent stock
verses a five dollar stock.
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So, I use the dollar because
I want to make sure that,
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you know, I'm getting a
certain amount of money
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flowing through the stock on the day.
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And that really translates better into the
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scan results showing me stocks that have
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the kind of volume I want.
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So, I'm looking at the percent gain and
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I'm looking at volume.
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And that is about all there is to it.
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So, where do I go from there?
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I take this list and I,
sometimes it returns five stocks,
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sometimes it returns 20 stocks,
it just depends on the day
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because the market is like that.
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But, I'll usually go through
most if not all of the list.
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And I just pull up daily
charts because the daily chart
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is something that I use to
make a lot of my decisions
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and form my big picture
opinions on whether something
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is a long or a short.
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So, I will just pull up the
daily chart of the ticker,
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see what today, you know, the crazy volume
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volatility day looks like
verses the previous year
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on the daily chart and if
I see a pattern that is
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familiar to me, something
that I like, something that
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I feel like I can take advantage
of going into the next day
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or maybe a couple days later,
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I add it to a watchlist which I keep
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in an Excel sheet every night.
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And if I don't like it I just skip it,
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I just move on to the next ticker.
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So, out of this, you
know, five to 20 tickers
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that show up per night on my scanner,
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I'm probably only selecting
about a quarter of them,
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you know, it's not like just
because it hit the scanner
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it's an automatic watch, the
pattern has to be there too
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on the daily chart.
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And once I have this spreadsheet
with all of the stocks
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listed that I do like the
pattern and I do like what
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the scanner is telling me,
then I type out a little plan
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going into the next day for it.
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So my plan will often
have a couple different
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stipulations where I will
say, okay if the stock gaps
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up, this is my plan for it.
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If the stock gaps down,
this is my play for it.
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And in the event where I
have a really long watchlist,
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you know, that winds up
being eight or more tickers
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or something like that, I
obviously have to prioritize
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because I'm not going to come
out into the next morning
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trying to trade eight different
stocks at the same time.
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That's, I mean I probably
will screw them all up
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instead of focusing on
one or two and really
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succeeding with those.
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So my prioritization really comes down to,
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which patterns do I like the best?
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The ones that I know I've
had the most success with.
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Which ones do I think
have the best volatility
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so the most potential for
profit if I trade it right?
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And then even to further
narrow it, you know,
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I usually make this
watchlist the night before
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so the next morning I see which
way it's gapping pre-market
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and I have my ideal ideas of, you know,
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I like a certain play
way better if it gaps up
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verses if it gaps down for example.
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So, if the stock is giving
me the gap move that I want
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that moves way up my list.
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- Hey, Tim Sykes, Millionaire
Mentor and Trader.
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Thank you for watching my videos.
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I hope that they help you.
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I wanna share everything that
I have learned over the years.
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You can check out more
videos right over there and
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also click subscribe so that
you can watch all of these
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videos, get that knowledge and become
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my next millionaire student.
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