There are thousands upon thousands of stocks that you can trade.
But how do you narrow it down to the best of the best?
In this thread, we'll highlight the 3 most important steps you need to take to create a Focus List (& how you can apply these lessons immediately)
๐๐งต
By the end of this thread, you'll be able to:
โ
Scan quickly and effectively to build a Universe List
โ
Narrow it down further to a Weekly Focus List
โ
Find the best stocks possible to trade
It's that simple so let's jump in.
ยท Scan quickly and effectively to build a Universe List
๐ Pullbacks
๐ Breakouts
๐ High Volume
๐ Fundamentals
๐ Momentum Edges
Here are the criteria you can use in your favorite scanning platform for each:
Pullbacks Edge ๐จ:
ยท Above your favorite Key Moving Average Scan (> 10EMA, 21EMA, 50DMA)
ยท % Off Highs Scan (< 20%)
ยท Reverse Pocket Pivot Scan
Breakouts Edge ๐:
ยท 52 Week High Scan
ยท Volume > 2x Avg. Scan
ยท Price > 5% on Session Scan