Stocks Scanners allow me to scan the entire market for the types of stocks displaying my criteria for having momentum.
These scanners are the most valuable tools for a day trader, and I had my development team build them right into our Chat Room software. Once the scanners give me an alert, I then review the candlestick chart and try to get an entry on the first pull back.
Most traders will buy in this same spot, those buyers create a spike in volume and result in a quick price change as the stock moves up. Your job as a beginner trader is to learn to find the entry in real-time.
I have created 3 sets of stock scanners for 3 different types of scanning. I have my Momentum Day Trading Strategies scanners, my Reversal Trading Strategies Scanners, and my Pre-Market Gapper Scanners.
These 3 scanners give me tons of trade alerts everyday. Instead of having to manually flip through charts, I can instantly see stocks that are in play. Stock scanners are what every trader today should be using to find hot stocks, whether it’s penny stocks, small caps, or large caps.