Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

CType

Question About Scanners

Recommended Posts

I've just made my first introduction post and have questions already.:)

 

Probably the biggest problem I have in trading is in finding stocks before they get to a good entry point. I generally get my picks from internet sites like 'StockScores', take a look at them, and then enter the trade so late that I'm lucky to get out even, or maybe make enough to cover the commission.

 

It seems pretty clear to me that I will need to find my own picks, which brings me to the question - What do I need for a scanner? Are the free online scanner good enough to start with? Which one has the most bang for the bucks?

 

I don't mind spending some money on good tools, but most scanners are expensive and I have no idea if they will help before hand.

 

Thanks

Bill

Share this post


Link to post
Share on other sites

Hi Bill,

 

The best scanner to find stocks I know is included in Tradestation - Radarscreen.

You can scan the stocks live or daily etc., using all the possible technical analysis.

But it depends on what exactly you are looking for.

Share this post


Link to post
Share on other sites

I think this should be in the 'Noob Question' thread. Sorry.

 

Thanks Zipasy,

 

I did search the site and found some posts on scanners that was helpful.

 

TradeStation is impressive, but I don't have the 1 million dollars, nor could I make that many trades a month to cover the cost.

 

Maybe this forum isn't for totally inexperienced people like myself.

 

Thanks again

Bill

Share this post


Link to post
Share on other sites

No... at all.

 

You red something wrong...

 

In order to have tradestation free, you need to trade 10 rounds futures a month or 5000 shares a month, and then you do not have to pay the $99 fee.

 

Also, to trade futures you need only $5k in account. Nothing more.

What you can do, you can buy or sell 10 contracts a month and it's completly free.

Share this post


Link to post
Share on other sites

In order to have tradestation free, you need to trade 10 rounds futures a month or 5000 shares a month, and then you do not have to pay the $99 fee.

 

If you are really new to trading this will save you much money:

 

Stay away from trading just to avoid the fee!

 

You will unevitably pay much more than the 100 bucks for Tradestation in the end if you try to avoid the fee by trading.

If you think you really want to get into Tradestation better take into account that it will cost you 100 bucks every month until you get profitable (which will for the most people take 2 years at minimum).

 

Free screener:

Finviz.com

 

Test any strategy thoroughly in paper trading first.

Share this post


Link to post
Share on other sites

I think Zapisy's approach works well for him (or her I suppose). It looks as though he has some experience in it from his profile. I'm sure that won't work for me at this stage. The 'Research Wizard' is pretty cool though. Thanks Tams, I've bookmarked it.

 

From the search of the site I think I'll paper trade with the 'StockFetcher' scanner for awhile. I have a very small account at the moment (job loss wacked it real good). I'm only trading in one stock which seems to be doing alright, so paper trading is about it until I exit.

 

For the Moderators:

If you feel it more appropriate, this probably belongs in the 'Noob Question' post. .

 

Thanks

Bill

Share this post


Link to post
Share on other sites

Hi :)

 

My name is Lukas, so him :)

 

And yes, it worked for me.

Since you can place automatic profit and stop loss order, the chance that you will be out let say at NASDAQ 10 times in a row (with loss) is smaller than a situation, when half or 65% of the trades will be unprofitable, and the rest on +.

 

So I do not think it is a math science at this point.

 

And I do not agree about the trading for 2 years to become profitable.

I know people that trade for 4 years, and they still can not achieve the results they want.

If you use stop loss with TS, I do not think that the losing part has something to do with skills you have or experience. Just go in, set stop 2 tick, profit 6 ticks. That is it.

 

Lukas :)

Share this post


Link to post
Share on other sites

Hi Bill, just to add a few hints when looking for scanners - especially for stocks.

1) define your stock universe - as it can be huge

2) define your entry setup and level so you know exactly what it is you are scanning for

3) actually write a process (this clearly should be refined over time) as to how you manage the daily process of scanning for things.

 

This will clearly define what you are after. One thing you will find is that a lot of time the setups will give you many many possibilities at the same time - so unless you have a clearly defined way of scanning, then processing the results you will chase your tail.

 

I used excel (as its easy to cut and paste and very manipulative) to define the universe of stocks, and define those that I found interesting, and then further chopped up which I thought made sense in the big picture fundamental viewpoint (eg; a setup in a stock that is a utility and yield based for me is different to a mining stock)

 

Ultimately I found that there is no substitute for just literally going through and manually looking at the charts on a continual daily basis - this can actually be achieved very quickly once you decide your initial universe and setup rules.

Share this post


Link to post
Share on other sites

You really don't need much fancy stuff if you want to do a basic scan -- price and volume should do it.

 

The trick is in the effort -- build a watch list of those stocks meeting your criteria and then watch for an entry -- I don't know what a "good entry" means to you.

 

You're right in wanting to think for yourself -- there really aren't any short cuts if you want to become a profitable trader.

 

Good luck,

Champ

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 11th July 2025.   Demand For Gold Rises As Trump Announces Tariffs!   Gold prices rose significantly throughout the week as investors took advantage of the 2.50% lower entry level. Investors also return to the safe-haven asset as the US trade policy continues to escalate. As a result, investors are taking a more dovish tone. The ‘risk-off’ appetite is also something which can be seen within the stock market. The NASDAQ on Thursday took a 0.90% dive within only 30 minutes.   Trade Tensions Escalate President Trump has been teasing with new tariffs throughout the week. However, the tariffs were confirmed on Thursday. A 35% tariff on Canadian imports starting August 1st, along with 50% tariffs on copper and goods from Brazil. Some experts are advising that Brazil has been specifically targeted due to its association with the BRICS.   However, the President has not directly associated the tariffs with BRICS yet. According to President Trump, Brazil is targeting US technology companies and carrying out a ‘witch hunt’against former Brazilian President Jair Bolsonaro, a close ally who is currently facing prosecution for allegedly attempting to overturn the 2022 Brazilian election.   Although Brazil is one of the largest and fastest-growing economies in the Americas, it is not the main concern for investors. Investors are more concerned about Tariffs on Canada. The White House said it will impose a 35% tariff on Canadian imports, effective August 1st, raised from the earlier 25% rate. This covers most goods, with exceptions under USMCA and exemptions for Canadian companies producing within the US.   It is also vital for investors to note that Canada is among the US;’s top 3 trading partners. The increase was justified by Trump citing issues like the trade deficit, Canada’s handling of fentanyl trafficking, and perceived unfair trade practices.   The President is also threatening new measures against the EU. These moves caused US and European stock futures to fall nearly 1%, while the Dollar rose and commodity prices saw small gains. However, the main benefactor was Silver and Gold, which are the two best-performing metals of the day.   How Will The Fed Impact Gold? The FOMC indicated that the number of members warming up to the idea of interest rate cuts is increasing. If the Fed takes a dovish tone, the price of Gold may further rise. In the meantime, the President pushing for a 3% rate cut sparked talk of a more dovish Fed nominee next year and raised worries about future inflation.   Meanwhile, jobless claims dropped for the fourth straight week, coming in better than expected and supporting the view that the labour market remains strong after last week’s solid payroll report. Markets still expect two rate cuts this year, but rate futures show most investors see no change at the next Fed meeting. Gold is expected to finish the week mostly flat.       Gold 15-Minute Chart     If the price of Gold increases above $3,337.50, buy signals are likely to materialise again. However, the price is currently retracing, meaning traders are likely to wait for regained momentum before entering further buy trades. According to HSBC, they expect an average price of $3,215 in 2025 (up from $3,015) and $3,125 in 2026, with projections showing a volatile range between $3,100 and $3,600   Key Takeaway Points: Gold Rises on Safe-Haven Demand. Gold gained as investors reacted to rising trade tensions and market volatility. Canada Tariffs Spark Concern. A 35% tariff on Canadian imports drew attention due to Canada’s key trade role. Fed Dovish Shift Supports Gold. Growing expectations of rate cuts and Trump’s push for a 3% cut boosted the gold outlook. Gold Eyes Breakout Above $3,337.5. Price is consolidating; a move above $3,337.50 could trigger new buy signals. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Back in the early 2000s, Netflix mailed DVDs to subscribers.   It wasn’t sexy—but it was smart. No late fees. No driving to Blockbuster.   People subscribed because they were lazy. Investors bought the stock because they realized everyone else is lazy too.   Those who saw the future in that red envelope? They could’ve caught a 10,000%+ move.   Another story…   Back in the mid-2000s, Amazon launched Prime.   It wasn’t flashy—but it was fast.   Free two-day shipping. No minimums. No hassle.   People subscribed because they were impatient. Investors bought the stock because they realized everyone hates waiting.   Those who saw the future in that speedy little yellow button? They could’ve caught another 10,000%+ move.   Finally…   Back in 2011, Bitcoin was trading under $10.   It wasn’t regulated—but it worked.   No bank. No middleman. Just wallet to wallet.   People used it to send money. Investors bought it because they saw the potential.   Those who saw something glimmering in that strange orange coin? They could’ve caught a 100,000%+ move.   The people who made those calls weren’t fortune tellers. They just noticed something simple before others did.   A better way. A quiet shift. A small edge. An asymmetric bet.   The red envelope fixed late fees. The yellow button fixed waiting. The orange coin gave billions a choice.   Of course, these types of gains are rare. And they happen only once in a blue moon. That’s exactly why it’s important to notice when the conditions start to look familiar.   Not after the move. Not once it's on CNBC. But in the quiet build-up— before the surface breaks.   Enter the Blue Button Please read more here: https://altucherconfidential.com/posts/netflix-amazon-bitcoin-blue  Profits from free accurate cryptos signals: https://www.predictmag.com/ 
    • What These Attacks Look Like There are several ways you could get hacked. And the threats compound by the day.   Here’s a quick rundown:   Phishing: Fake emails from your “bank.” Click the link, give your password—game over.   Ransomware: Malware that locks your files and demands crypto. Pay up, or it’s gone.   DDoS: Overwhelm a website with traffic until it crashes. Like 10,000 bots blocking the door. Often used by nations.   Man-in-the-Middle: Hackers intercept your messages on public WiFi and read or change them.   Social Engineering: Hackers pose as IT or drop infected USB drives labeled “Payroll.”   You don’t need to be “important” to be a target.   You just need to be online.   What You Can Do (Without Buying a Bunker) You don’t have to be tech-savvy.   You just need to stop being low-hanging fruit.   Here’s how:   Use a YubiKey (physical passkey device) or Authenticator app – Ditch text message 2FA. SIM swaps are real. Hackers often have people on the inside at telecom companies.   Use a password manager (with Yubikey) – One unique password per account. Stop using your dog’s name.   Update your devices – Those annoying updates patch real security holes. Use them.   Back up your files – If ransomware hits, you don’t want your important documents held hostage.   Avoid public WiFi for sensitive stuff – Or use a VPN.   Think before you click – Emails that feel “urgent” are often fake. Go to the websites manually for confirmation.   Consider Starlink in case the internet goes down – I think it’s time for me to make the leap. Don’t Panic. Prepare. (Then Invest.)   I spent an hour in that basement bar reading about cyberattacks—and watching real-world systems fall apart like dominos.   The internet going down used to be an inconvenience. Now, it’s a warning.   Cyberwar isn’t coming. It’s here.   And the next time your internet goes out, it might not just be your router.   Don’t panic. Prepare.   And maybe keep a backup plan in your back pocket. Like a local basement bar with good bourbon—and working WiFi.   As usual, we’re on the lookout for more opportunities in cybersecurity. Stay tuned.   Author: Chris Campbell (AltucherConfidential) Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • DUMBSHELL:  re the automation of corruption ---  200,000 "Science Papers" in academic journal database PubMed may have been AI-generated with errors, hallucinations and false sourcing 
    • Does any crypto exchanges get banned in your country? How's about other as Bybit, Kraken, MEXC, OKX?
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.