As a new or intermediate trader, you should focus on a minimal amount of setups. Today, Tim Bohen will talk about one particular setup you should always scan for. And, of course, you can easily use it on the StocksToTrade platform...
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Stock Trading 101: A Day Trader's Guide: https://www.youtube.com/watch?v=G_v3GMkKCjk&list=PLWWz2BSabm3bG64ohfJ-CnnVTjLCWwvei
Advanced Stock Trading Tips: https://www.youtube.com/watch?v=OXLs_-PgMUk&list=PLWWz2BSabm3YCZdk7ocrBXGJaLVXXFUYb
StocksToTrade Software Tips and Tricks: https://www.youtube.com/watch?v=jiTi-chHNyo&list=PLWWz2BSabm3ay_lvQC9JN_1niB78bI7ga
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Are you a new or intermediate trader? Chew on this: You should be looking for low-priced stocks โ $1 to $10 โ breaking out on the one-year chart in a hot sector and with news.
As a newer trader, you can't trade five times a day. Maybe youโre under the PDT, or maybe you have a job or other commitments. But even if you can't sit in front of the trading screens eight hours a day, you can still scan for this setup.
Start out by running a 52-week scan in that price range and be sure to include stocks that trade over a million shares a day. This gives you a handful of stocks from thousands of publicly traded stocks ... You can't research thousands of stocks. But you can certainly research a handful.
So let's say you've narrowed it down to about five stocks. The next thing you want to check is if any of these stocks have news. Is there a reason for the movement? Sometimes stocks move on no news โฆ Avoid those.
Look for that stock that had a contract win, earnings news, a new product, FDA approval, and so on.
Now maybe youโve narrowed your handful of potential stocks down to two. The last criteria you should check out is the sector. If your remaining stocks are also in a hot sector, you've got a great potential to find a profitable trade โ and now you've checked all five of those boxes.
Thatโs one of the best setups you can look for. Will you catch one every day? Nope. But as a new trader, you canโt always trade every day. Nor should you. I want you to focus on the minimal amounts of setups. That's a key way to grow your account over time.
#StocksToTrade #DayTrading #StockCharts
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
๐ด Subscribe for more free Stock Trading tips: YouTube.com/StocksToTrade
Share this video with a fellow Trader: https://youtu.be/vobikNqIOJA
โ Links we mention and recommend:
Try StocksToTrade for $7: https://stockstotrade.com/14daytrial/
Get our FREE weekly watchlist here: https://stockstotrade.com/watchlist
Check out the SteadyTrade podcast: https://steadytrade.com
โ Recommended video: https://youtu.be/N7WDqniunY0
โ Recommended playlists:
Stock Trading 101: A Day Trader's Guide: https://www.youtube.com/watch?v=G_v3GMkKCjk&list=PLWWz2BSabm3bG64ohfJ-CnnVTjLCWwvei
Advanced Stock Trading Tips: https://www.youtube.com/watch?v=OXLs_-PgMUk&list=PLWWz2BSabm3YCZdk7ocrBXGJaLVXXFUYb
StocksToTrade Software Tips and Tricks: https://www.youtube.com/watch?v=jiTi-chHNyo&list=PLWWz2BSabm3ay_lvQC9JN_1niB78bI7ga
Weekly Trading Recap Videos: https://www.youtube.com/watch?v=_n0XaDt1XFY&list=PLWWz2BSabm3b3-4DcEx98TzNPLAKcq6ES
โ Follow StocksToTrade on social media:
Instagram: https://www.instagram.com/stockstotrade/
Facebook: https://www.facebook.com/StocksToTrade/
Twitter: https://twitter.com/StocksToTrade
Are you a new or intermediate trader? Chew on this: You should be looking for low-priced stocks โ $1 to $10 โ breaking out on the one-year chart in a hot sector and with news.
As a newer trader, you can't trade five times a day. Maybe youโre under the PDT, or maybe you have a job or other commitments. But even if you can't sit in front of the trading screens eight hours a day, you can still scan for this setup.
Start out by running a 52-week scan in that price range and be sure to include stocks that trade over a million shares a day. This gives you a handful of stocks from thousands of publicly traded stocks ... You can't research thousands of stocks. But you can certainly research a handful.
So let's say you've narrowed it down to about five stocks. The next thing you want to check is if any of these stocks have news. Is there a reason for the movement? Sometimes stocks move on no news โฆ Avoid those.
Look for that stock that had a contract win, earnings news, a new product, FDA approval, and so on.
Now maybe youโve narrowed your handful of potential stocks down to two. The last criteria you should check out is the sector. If your remaining stocks are also in a hot sector, you've got a great potential to find a profitable trade โ and now you've checked all five of those boxes.
Thatโs one of the best setups you can look for. Will you catch one every day? Nope. But as a new trader, you canโt always trade every day. Nor should you. I want you to focus on the minimal amounts of setups. That's a key way to grow your account over time.
#StocksToTrade #DayTrading #StockCharts
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
How do you find hot sectors?
Very helpful i want to leave my job eventually to become a full-time trader. How would you do this. I'm already studying the vip homework and gonna practice paper trading on stt.
How do you know if its at a resistance of that high or will keep going?
News: what kind? I look for news on StocksToTrade but sometimes the latest news on the stock I charted. What do I do then?
Thanks Tim
Thanks so much for all your help. Where do you suggest finding news on penny stocks? I'm new and having trouble finding a good source. TIA
Not trading yet just studying
hi tim,what is criteria condition used to find stocks which are getting close to 52week high in stockstotrade…please let me know ๐
Great job. I trade the 52 week break out or break down.
Awesome video Tim, very simple and helpful! Thanks always!!! ๐๐๐
I trade the setup is my favorite.
Thank you a lot!
Mr Bohen, your pattern is my favorite as of now. Great video for me as I am not yet trading and this is what I need to start tieing all the basics together and thinking more about the pre trade analysis. Just getting to making my rules, trading plan, risk analysis, and stock analysis. I will be looking if you or Sykes has material on how to quantify what my risk is before a trade. Thank you so much for putting all the info out there.
Late day vwap hold into a break of the high has worked for me
Yes to my this setup
I love the Dip Buys, and the gap up Break Outs!! No shorting for me, Iโm gonna need another year of practice for those set ups.
Thanks for this Tim ๐๐พ๐๐พ๐๐ฝ๐๐ฝVery helpful!!
havent started trading yet, but am i exited and eager to know more and start my journey. thank you for breaking it down to simply.
I usually dip buy reisitance on second day big % gainers (with almost the same stocks scanning criterias, that you talking about) ๐
How do you determine which sectors are hot?
I use the cup and handle set up mostly.
Check Thai hot sector chart ..is it in an up trend!
Oh yeah!
Thank you for you help. This was so simplified. Love all of your video lessons. I will definitely check out stocks to trade.
morning panics are defiantly my favorite and most profitable for me.
Tim this is useful information right here in this channel!!, this is a lot of value!!!, thank you very very much…๐๐ฝ๐๐๐ผ๐๐ผ๐๐ผIโm sticking here for as long as I can. Iโm fighting in growing a very small account in Robinhood, hopefully bad executions arenโt part of my journey but I need to try at least…Blessings for the channel and for all the Team!!!๐๐ฝ๐๐ผ๐๐ผ๐๐ผ
Do you trade this setup? Has it worked for you?