I just use my eyes.
if i decide to daytrade or 2-5 day short term trade I use a running stock list I have developed over time BPT, QAN, FMG etc are always offering a trade. But i don't use this on a regular basis, only if I have time to sit at the screen. I can't ell you the number of times I have traded BPT, but it always seems to work on a 1-3 day basis.
So, a running list is a good idea..20- 40 stocks provides enough opportunities for my irregular daytrading activities.
I have a paid subscription to a couple of newsletters that give me a list. of top stocks for the month.
With the specks, i usually try to get in before the breakout with a part position then see how it plays out. If you look at three current ones I have just taken you will see my set-up The stocks have run hard and have now pulled back, offering me a good starting point. FRX, PNN and VRX are 3 i have just taken. I find these news driven stocks tend to jump on news making it hard to get in, so I like to be set. on the pullback then wait.
With a lot of these momentum stocks at the moment, setting up a tweetdeck is a must. But you need to know who is who as there are a lot of pumpers out there, for their own gains...........so, beware. But i find good opportunities there. WOO was one i was in and out of over 2 days, based on tweets. a lot of the weed stocks were based off tweets. Social media seems to be the new BIG thing in trading. I might make a post later, on it..
And for the rest, I seem to know what is happening, so to follow I create watchlists on current themes that I set up. It's loaded with tin at the moment MLX, SRZ, VMS,
A few weeks back, it was silver, and the BNPL stocks. My watchlists seem to follow themes which scanning wont always pick up(I think).
I find I need to know the FA story somewhat then I follow by eyeballing all of the above and it gives me plenty of opportunities without needing to scan............
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I just use my eyes.if i decide to daytrade or 2-5 day short term...
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