Scanning for Setups

Question:

Do you show the student how to pick the stocks that meet the technical setups using a stock scanner such as TC 2000? If not, how does the student generate a watch list of potential candidates to trade?

Answer:
Hello! I use TC primarily for swing and position trading. As such, I only tend to use it on weekends and really do not apply many filters at all other than limiting it to stocks which trade over an average of 300k shares/day and are trading over $15/share. Then I just start from the highest volume and scan through them manually watching for setups that "catch my eye".

I know this is certainly not what would be ideal for most people. It usually takes me a couple of hours, but I'll flip through it as I'm watching a movie or such.

Intraday I will scan for percentage and price gainers and losers and morning gappers to tell me the best place to look for intraday momentum. I manually scan through these to identify favorable daily setups which will help support intraday setups and often provide me with additional swingtrade setups as well.

If you are in the live trading room I would suggest private messaging Brandon, because he uses TC much more often than I do and has additional scans/parameters he uses.

My study and style of analysis is focused more upon being able to quickly and easily identify high-probability trade possibilies by just flipping through stocks and training one's eye to look for key characteristics displayed in the security's price action.

All my best,
Toni