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How to Use a Stock Scanners to Find BIG Gainers - YouTube
Channel: StocksToTrade
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- Pretty much everybody
in day trading talks about
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focusing on the biggest
percent gainers of the day.
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I wholeheartedly agree.
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I think it's one of the best ways
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to spot that great trade of the day,
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as well as kind of identify trends.
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Because, hey maybe you're busy,
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maybe you've got things going on
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and you can't trade everyday.
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But the great thing about
focusing on the big gainers,
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is you can see what's hot in the market,
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so when the time comes when you can trade,
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you're ready, you know
what the themes are, etc.
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So today, I'm gonna talk
about running these gainers
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and what to look for.
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(upbeat music)
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Hey everyone, league
training with StocksToTrade,
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Tim Bowen here, be sure to subscribe,
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as soon as a new video hits.
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You know the great thing
about when you ring that bell,
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you get an alert on your phone.
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We go live quite frequently,
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and maybe you'll be at
the doctor's office,
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you get an alert, and you
know that we're going live.
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And instead of sitting there bored,
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you can see us breakdown a chart.
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So be sure to ring that bell
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and get notified as soon
as a new video hits.
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So today I'm gonna talk about why,
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the what, the how, and the
why of these big gainer scans.
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So, obviously I'm a little biased,
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representing the StocksToTrade here,
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it's my favorite trading platform.
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But, full disclosure, you
can find some of these tools
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on other platforms as well.
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So, one of the biggest
things I'm gonna look for
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is just what I call a basic gainers scan.
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So, what this stock is gonna do,
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is you know it's gonna filter based on
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volume, price range, as
well as percent gain.
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Because, for me, and this
may vary by a lot of traders,
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I don't really care about then
less than one dollar stock.
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Now maybe you're a little different,
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maybe you don't care about
stocks over a dollar.
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So, the biggest criteria
you're focusing on
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are the dollar range.
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You know if you've got a small account,
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it doesn't matter if a
thousand dollar stock
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is gapping up 20%.
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It's gonna be pretty tough to
trade $1,000 per share stock
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if you got 500 bucks in your account,
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it's impossible, okay?
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But, so focus on price.
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Then focus on percent gain, okay?
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We care about that because that could,
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we don't care if a $50
stock is up five dollars
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because it's such a small percentage.
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We want a $50 stock to be up 20%,
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just like we want a five
dollar stock to be 20%.
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So, focus on percent gain,
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and then the other thing is volume, okay?
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Volume is gonna vary through the day,
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but if it's pre-market,
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if it's 9 a.m.ish as we go into the day,
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you're gonna be looking for
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hundreds of thousands of shares traded.
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Ignore illiquid stocks,
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you don't want to be
stuck in illiquid stock.
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So you can see, I'm
filtering by the last price,
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which is the last print,
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percent change, volume,
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and then I also want to
know if there's news or not.
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So, now the news will vary,
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but the great thing about this scan is
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it just tells me if there is
a recent news article today.
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So now, I can do my due diligence further,
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but it's gonna break it down,
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and it's gonna tell me
whether or not it has news,
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and that makes it interesting
or not interesting to me,
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depending on what the news is.
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Next thing is one of my favorite tools,
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and that's the new high a day scan.
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This is a, I think underappreciated tool,
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and I don't know how many
traders necessarily follow this,
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well I know a lot of veteran
day traders all follow it.
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I don't know how many
newer traders use it.
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Because what this does is it tells you
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every stock that has
made a new high of day
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and how many times it's
made a new high of day.
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So, if you see a stock,
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especially as you're
going in the afternoon
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that hits a new high of day,
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and it's done that
repeatedly through the day,
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that tells you you gotta
bring up that chart
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and see what's going on with this stock.
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Because we talk about
strong charts, weak charts,
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and if you're curious about those terms
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or any terms I talk
about, hit our library.
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We got hundreds of videos
breaking down these terms.
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But when I see a stock
that hits a new high of day
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hundreds of times a day,
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and it's hitting a high of day now,
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into the afternoon window,
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tells me that that stock
is very, very bullish,
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and a good chance it's
gonna continue to spike.
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It may sound counterintuitive,
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but this is an old day trading axiom,
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but stocks that hit new high of days,
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tend to continue to hit new high of days.
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Because it's showing up
on everybody's scanner,
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and it becomes a self-fulfilling prophecy.
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So, that's one of the biggest
things I want you to focus on.
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And we've also got the high low ticker.
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So what this shows you is,
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and this is a great tool
to gage sentiment as well.
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So you can see, actually a
great day for Apple today.
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Going back to the news today,
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you know you may be watching
this video down the road,
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but as of today, the news hit,
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we're in the late summer 2019,
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and there's a lot of trade war news.
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And today the administration
released the fact that
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they were gonna pull back
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some tariffs on mobile phone technology,
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and notice, Apple hit a new
high of day 957 times today.
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So, now, Apple's not a penny stock,
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you may not be able to trade
it with a small account,
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but think about it, if
this was a two dollar stock
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that hit the high of day 957 times,
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that's interesting to me,
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that's a trade I'm gonna look and focus,
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see what the news is,
and look to trade it.
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So, and then you can move
on down through the list,
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you can see in one snap shot,
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I mean click with StocksToTrade,
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I can see the top 15
strongest stocks, basically.
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I know they're all at or
near a new high of day,
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I know they've hit that high of day.
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The smallest one is Delta Airlines,
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94 times it hit the high of day.
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And then, on the flip side,
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just to kind of wrap up this illustration.
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You can also see the stocks
that hit in the low of the day.
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I don't necessarily use this.
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I believe in the bull market we're in,
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we're buying strong stocks.
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But once the bear market
comes, eventually,
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you know you can look for these new lows,
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especially maybe to buy
dips, or to short new lows.
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I mean a lot of these,
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you can see a stock like SO
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was probably the weakest stock of the day.
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I'm guessing if I brought
up the stock chart,
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you'd see it continue to fade all day.
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So, it can give you shorting
opportunities as well.
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And then just last thing,
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you'll notice this orange bar
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that simply denotes on the low side,
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these two stocks hit a new 52 week low.
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And then if on the bullish side,
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if they were highlighted in orange,
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it would be a new 52 week high,
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just today, when we're filming this,
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we don't have any new 52
week highs on these stocks.
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So, these are some of the
best tools, simple tools.
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You'll hear, if you've
watched a lot of these videos,
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you'll hear me say it a lot,
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K.I.S.S, keep it simple, stupid.
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Price, volume, percent change, and news.
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And it's simple tools
that find the best trades.
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Because, remember, the stock
market's supply and demand.
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The simpler the trade,
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the more likely the herd is gonna come in,
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the more likely you're gonna
get that explosive volume.
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So, let me know below,
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do you use the new high of day scan.
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I'm surprised, frequently,
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when I talk about people,
you know, I mention that,
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I'm like, "Hey, what's
your HOD scanner called?"
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We call it the HOD scanner,
the high of the day,
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and I say, "What's your
HOD scanner saying?"
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and they're like, "Well I don't use it."
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So I'm curious, do you
use a high of day scan,
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and has it worked for ya?
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Comment below, and I'll
see you in the next video.
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Thanks for watching our video,
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be sure to comment below with
any trading related question.
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We love answering your questions.
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And if you're looking to
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