I'm still new to trading. I realize that setting up your scans and knowing what to look for before the market opens and after it closes is extremely important. I went through a bunch of youtube videos and everyone is doing is differently.
If I was to focus on the Morning Panic pattern and the First Green Day pattern, how would I set up my scans and what should I look for?
I am using ThinkOrSwim at the moment.
Thank you.
If price keeps running up you capture those gains. This worked very well for me with $DECN trade was able to get 64% on it. I sold it right after it peaked not support level.Tried again wil $BIOL
For $BIOL got 10% then it dropped to previous support. I executed sell order and got 8.5% gain. Subsequntly price ran up another $0.20
You have to think in terms of consistent profits growing the account.
I use TD and the Think or Swim platform. I am not a fan of their scanner though because it is not real time in pre-market. That is the time of day when I find most of my trades and look for biggest gainers. If I can catch then at the top premarket, sometimes I go short. Otherwise, I try to catch a sell off after open on stocks with low floats and news. Currently, I am loving stockstotrade.com software. It was quite a blessing to me last month when I started to use it.
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