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How to make a Premarket Watchlist? Create a Trading Plan for Day Trading Beginners (Part 1) - YouTube
Channel: Humbled Trader
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I'm going to walk you through step by
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step how I creates my pre market watch
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list every single warning and the five
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steps are warning there's no Lambos here
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no getting rich quick and there's no day
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trading secrets that's gonna cost you
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$5,000 I know you must be really
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disappointed now I guess I'll have to
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actually give you real know both
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valuable information on day trading if
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you're a longtime viewer of this channel
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you know I always preach that you plan
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your trades and trade your plan I found
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that in trading while the most important
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aspect is focus it's way too easy to get
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sidetracked by chatroom alerts what
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people are saying on Twitter or stuck to
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it or even an intraday alerts from your
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own momentum scanners and unfortunately
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that's the biggest reason most beginner
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traders blow up their accounts will
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slowly bleed it out with small paper
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cuts I'm saying that because I
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understand I've done exactly just that
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myself nowadays I spent about two hours
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before the market open to prepare for my
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pre market watchlist but don't worry
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this video isn't gonna be two hours I
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have condensed my watch this planning
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process into five simple steps note that
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I said simple but not easy trading is
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never easy but you can increase your
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success rates greatly by having a plan
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and all it's costing you it's a simple
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tap on the like button so the first step
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to creating a watchlist is scanning for
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cappers pre market gap rates our stocks
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have gapped up or gapped down with a
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dramatic percentage overnight
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technically it could be due to earnings
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news clinical trials or other deals and
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agreements and the reason it's so
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important to look for cappers is that
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there's likely to be an immediate
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reaction to the stock in the first two
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hours and as they traders that's exactly
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what we're looking for we're looking for
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momentum volume and volatility there are
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several ways I used to scan for pre
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market Gabor's the first one is with Ben
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Zynga Pro I've already made a video
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showing you my settings how I scan for
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both a small cabin
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large cap cappers using the movers
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module besides Ben Zynga I also used
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trade ideas for the same purpose
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sometimes both of these scanners will
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give me a list of similar results but we
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going over white shoes to use both of
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these scanners specifically in the next
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few steps a third resource I use the
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scam for pre market Gabor's is briefing
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this is a great resource for people who
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trade mid cab and large cap stocks
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briefing is a web-based service that
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provides you live market commentary and
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analysis this tool was extremely helpful
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during the summer months when the small
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cap penny stocks are pretty slow but the
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low floats have been really hot lately
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so I haven't used briefing as much the
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fourth resource I used to scan for gap
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errs is with my execution platform
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that's trader they provides you a list
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of all the pre market gainers every
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single morning they call this the top
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list this feature comes with a platform
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subscription now the fifth way to scan
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for these scammers is finally free to
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use but I personally don't use this
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feature anymore which is the thinkorswim
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pre market scanner this tool isn't that
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ideal because the scanner takes a long
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time to refresh and it's not as fast as
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all the other tools I mentioned earlier
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and as a result I used to miss all sorts
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of pre market movers because the scanner
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was delayed but I mean it's free after
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all and it's a great way for beginner
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traders who get started I go over how to
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say that the scanner mi think will swim
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tutorial video now it doesn't really
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matter how you find your cappers either
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with the five resources I mentioned
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earlier or you got it from a
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subscription email or chat room service
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what's more important is that you do
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your own research on the news catalyst
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which is the second step to creating a
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pre market watchlist because not all
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Gabor's are created equal some news
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headlines were generally more hype and
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follow-through where others are just
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blatant pumps but the key is knowing
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that there is an indeed a published news
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headline and reliable sources like Ben
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Zynga Yahoo Finance or fenves and why is
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a published news headline so important
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if you remember these penny stocks in
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recent years
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i dr ys l fi n and d GOI those stocks
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were actually halted with a t12 Holt
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they're trading on these stocks are put
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on hold by the Nasdaq Stock Exchange for
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several days weeks or even months
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because you haven't smashed the like
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button as always these videos take me 10
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to 12 hours to make that's the time I
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could have spent driving my lambo
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chilling on the beach and making
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millions on the toilet so if you
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wouldn't mind taking one extra second to
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tap the like button I really appreciate
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you my friends and the reason these
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stocks I just mentioned was put on a tee
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to uphold it's because the NASDAQ
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exchange is requiring more information
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from these companies usually that's
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after these low floats penny stocks are
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making 300% 500% or even sometimes a
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thousand percent moves with no valid
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news so the intention of these t12 holds
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by the Nasdaq is to protect investors
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from these companies are potentially
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violating the federal securities laws
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whether that's actually true or not
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we're not gonna get into that today
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and that's why knowing that there's a
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published news headline is so important
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if you were sucking a tea to uphold your
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funds could be tied up for weeks days or
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even months this is not the same as a t5
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volatility holds that usually lasts for
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less than 10 minutes and imagine if you
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were using margin buying power I have a
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friend who assured
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Elfen around $24 before the halt and he
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had to keep on wiring money to the
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broker throughout the next few weeks
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because he was short too big of a
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position and yeah even though lfi own um
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hosted a $7 like six weeks later and he
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made a killing that emotional stress
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over two months was not worth it if you
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want to learn more about all these
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different nasdaq trading holds i'll
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leave a link for you to read more below
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okay so now we've established the
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importance of news it doesn't mean that
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you should just go buy every single
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gapper with news blindly and make quick
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easy money if you're following chatroom
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alerts to buy high of the day break out
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of every single stock that
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that's a headline well I have some
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breaking news for you you see why I did
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there
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you might get dumped on if you do not
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analyze the news so I used three of the
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tools I mentioned earlier for news
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research they are Fingaz spending GoPro
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and briefing using film this is
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perfectly fine to get started but I you
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spend zynga because they are lightning
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fast with their news updates and they
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provide me with the most complete
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information regarding holt above average
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treating volume with no delay and next
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we have briefing which is my news
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resource for mint cap and large cap
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stocks this is where I can check the
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stocks earnings upgrades downgrades and
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other major news resources summarized
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briefly so it saves me so much time just
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like Ben Zynga so after collecting all
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the news headlines we have to analyze it
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generally speaking a categorized all the
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PR into three different categories now
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the true significance of each news
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headline will obviously be different for
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each particular stock and of course
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whether the stock is a smoke a penny
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stock or a mid cap and large cap stock
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that's a real company will also be a
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factor as well the first category is
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positive catalyst this could be
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potential deals good earnings positive
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drug trials potential buyout or global
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trade news that's favoring a specific
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sector for example s o RL was a Gappa
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pre market from a news of a potential
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merger agreement the conversion price
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was going to be four dollars and seventy
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two cents per each common stock which is
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important when you're trading merger
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agreement news yes the catalyst is over
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a positive for the company but unless
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you know the potential transaction price
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and whether that price is significantly
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higher than the previous day closed
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price of the stock that merger news is
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not going to move the second category is
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obviously going to be negative catalyst
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this could be a fallout of a deal
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global economic crisis where the stock
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is issuing an offering we're getting D
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listed by the Nasdaq which we have seen
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happening a lot recently with a smoke a
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penny
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stocks for example SLD be a small cap
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biotechs drug company had one of their
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drugs put on hold by the FDA as a result
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the stock gapped down overnight on
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November 12th and continued selling off
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for the rest of the trading day because
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the news was extremely bearish for the
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stock and for this biotech company
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that's relying on drugs getting approved
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for them to sell in order to generate
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revenue
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now the third category of news is fluff
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news they're actually disguised as
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positive this is extremely important to
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recognize when you're trading small cap
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penny stocks because a lot of these
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companies use really optimistic and
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positive wording in their PR in order to
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pump the share prices up so there are a
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few key words that you can use to
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identify that this PR could potentially
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just be fluff and of course this is a
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general guide only each stock is going
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to be different some really common pump
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keywords are possible deal engagement
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optimistic outlook in the talks and
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potential partnership anything along
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those meanings in the gray area
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suggesting that something could happen
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but there also might not happen it's
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kind of like when you buy a DVD that
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promises you to potentially make a
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million dollars but you might just have
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to lose a hundred thousand dollars to
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get there technically they are not lying
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because your potential is only as big as
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your dreams just like technically it
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could start raining Lamborghinis
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tomorrow theoretically that's possible
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sometimes these news are even a few days
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to a few weeks old and they just
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recycled it and repackaged it as brand
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new just like while my favorite pump
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sucks C a and F here theoretically
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speaking in a perfect world positive
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catalyst means that the stock should go
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higher right and vice versa if the
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catalyst is negative that means the
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stock should dump but unfortunately
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nothing is 100% guaranteed in day
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trading we have seen stocks with blatant
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pump news running 200% 300% and also
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stocks with a may
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earnings selling off the entire gap
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stock Gabor's with news doesn't always
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guarantee the most obvious direction to
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the upside or downside we also need to
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look at the key statistics of a stock
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whether the stock was a recent reverse
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split how its setting up technically on
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a daily chart and using past screen time
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and experience to make educated plans
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and that's the importance of the next
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three steps in part two of this how to
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create a pre market watch this video
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will be putting all five steps together
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I know it sounds hard and I know it
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doesn't sound like you can make a
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million dollars in six months creating a
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trading plan can be simplified into a
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few steps but never easy but again if
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it's too hard and too much work then
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maybe falling chatroom alerts easier
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this video really took me a long time to
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make if you want to see a part two to
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this step-by-step guide into making a
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detailed pre market watchlist let me
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know in the comments down below and
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don't forget to always destroy the like
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button thank you guys so much for
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watching as always and I'll see you guys
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next week
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