Tuesday, October 11, 2005

Strategy Session: in Play en Fuego

Find the stocks that are in "Play" right now!

We've got another set-up not found in our Proven Strategies or Samples section that we've designed ourselves! Remember that these set-ups are sketches meant to give you an idea how to model your own trading plan. Use this 'as is' or modify it to your own liking as many others do.

The Strategy
The most obvious way to find stocks that are moving fast is to look for VERY HIGH relative volume compared to what a stock normally trades. This is done using the "Min Current Volume" (a Window Specific Filter) http://www.trade-ideas.com/Help.html#wsf_MinRV set this filter to 5 to see only the stocks that are 5 times the normal amount for this time of day. Don't forget this important FAQ, http://www.trade-ideas.com/FAQ.html#Q23.

How Its Modeled
Below is a new preconfigured strategy using the methodology described above.
Big Movers

There is another way to approach this. You can also use the "Strong Volume Alert" http://www.trade-ideas.com/Help.html#SV which can show you stocks that are trading, for example, 2X their normal average daily volume.

Take a look at a strategy created just for this purpose.
Big Volume Movers

Who Could Benefit
Anyone who follows the belief that volume portends interest and movement will find these starting points indispensible. Anyone who wants their ideas to come from someplace besides CNBC during the day or anything else that everyone is watching - say 'Amen'. Even if everyone were using Trade-Ideas you could filter the strategies above to define your universe slightly different - and view an entirely different set of opportunities.

There are many other ways to use our software to create unique set ups that can give you a big advantage in the market. If you are looking for something particular feel free to comment.

1 comment:

txtrader said...

I've been using this feature myself as of late,very useful especially for a scalper like myself. P.S. I don't even watch CNBC anymore,I find it very distracting. :-) Great scanner guys,I especially like that your following up with suggestions on the uses of your scans.