If you are a Trader who is serious about maximizing your profits this year, then you should definitely check out these four free trading tools. I'm about to show you today. Here are just some of the sneak peeks of what these free tools can help you with. They can provide you with free market data and advanced charting, customizable scanners to find profitable stocks to trade Advanced Portfolio management and tracker using Ai and statistics to find the most profitable strategies in your Edge and so much more.

And yes, while a lot of these tools do have a premium option, but you can still be very resourceful and use the tools the right way and get all the benefits I mentioned for free and I'll be showing you exactly how to do so in this video. So if that sounds good to you and you want to start this brand new trading GE the right way, then make sure to follow along and drop a like down below for a very profitable year. Okay, let's get started with the first free tool. nowadays.

in a lot of my YouTube videos, you can see me using a lot of fancy scanners like trade ideas with Benzinga. Well, yes, I've been using those scanners for years. I Definitely did not start out trading 8 years ago, paying hundreds or thousands for these tools. every single year you can Now scan for stocks to trade, pre-market access, intuitive charting tools as well as extended hours trading all for free in one broker platform Weebo I Understand, a lot of you are probably already using Trading View Charting for free but here's a key reason why: I recommend Weeo over Trading View as the best platform for beginner traders to get started with.

Webo gives you free real time quotes while Trading View requires you to pay for a few subscriptions to get real time Market data Even if you just plan on paper trading, that's totally fine. but it's still better to trade with real time price data right? I Mean that's a rhetorical question because no one can actually trade using 15 minute delayed quotes. Weo wasn't around when I started trading years ago, so back then I had to deal with a lot of delayed quotes and very archaic looking trading platform that was extremely laggy. but nowadays Weeo is available to you in United States Canada and many other International countries as well.

Let me show you step by step how I use Weebo platform to scan for stocks to trade so you can see what on my Weeo platform over here and to go to the scanner go to Um screener over here you can see I have a lot of different presets over already over here. If you go to the Smoke cap scan, you can see I'm scanning for stocks from zero to 800 Million last price at least a dollar and percentage change I'm scanning for stocks between 10% to up to 1,000% basically scanning for Gappers and I want minimum trading 1 million on the day. This scanner works pre-market as well. You're probably only going to see 10 to 15 results pre-market You can see Today's a good day for a lot of small cap gappers.

Um, you can see different stocks here. The spark line is something I really like. Essentially, it gives you a snap snapshot of how the stocks trading on the DAT action so you can see this is a parabolic runner. You can see this is a consolidation.

Trend Join play. Um, so that gives you a Snapchat of the price action not Snapchat snapshot and you can see the percentage gap on the day. The only downside I found so far for scanning for small caps is that you can cannot filter out the float of the stock in the scanner or even in the stock analysis columns. So I cannot find the float here.

which is a little bit of a bummer because I like to see whether the stocks I'm trading is low float between 1 million to 5 million shares float. These are the potential Crazy Runners like Vvos, Mlgo, Cccc Etc Remember if you're enjoying the video so far and you want to see more demo video in the future, make sure to smash the like button down below. So these are my filters for small caps. Uh, for large caps, you can see this are my different filters.

So I kind of scan for both large caps and small caps in the morning. Something I find to be very useful is that right after I scan for these stocks I Can see right away in this new section why the stock is up on the day you can see the updates are 2 hours ago 4 hours ago on the day as well as what the intraday chart looks like like. So if you're looking at this premarket, you can really quickly gauge the action of the stock and form your trading plan. Besides the premarket and after hour scanner and research tools, the live charting platform is pretty powerful as well.

For a freak tool um, you can see I Have my watch list section over here uh, daily chart on the left hand side and intraday chart. you can access all your indicators, volume profile, um, and your time in sales. The only thing you have to pay for in additional is level two so you get level one for free level two I think it's $9 per month or something like that. Last but not least, they also have live market data for paper trading as well so you can practice in Sim and uh, reset your account value over here.

I've been talking about Weebo and the platform since 2019. At the time it was only available to users in the US, but now they're also available in even more countries like Canada. Just in case you're concerned, there are Sipc and FDIC insured, so definitely check them out the platform and all the benefits for free. It's honestly very underrated in my opinion.

You can get at least six free fractional shares if you sign up through my link down below like I mentioned many times before on this channel most millionar Traders I Know that reinvest their profits from Trading into longer term investments, they'll grow their wealth passively. The second free tool I Want to talk about is not only a portfolio management tool, but also a social platform that allows you to follow other Traders investors and see their portfolio. Holdings This is Brom Social. Previously it was only available in Canada but now they're also open to Traders and investors in the US.

Anyone can download Blossom for free and connect the Brokers to the app safely. They do not share your data. For example, you may have different stock Holdings on Robin Hood Vanguard Erade or Weeble. Well, you can security connect them all under this portfolio analytics platform and see your Holdings at a glance.

There's also a social feed for you to connect with other Traders or investors who are following the same kind of stocks, track market news, and you can even follow others and see their returns and what kind of trades they've made in the past. For example, over here you can see my profile and investment Holdings You can also see how much I'm up or down on the year as well as my recent buys or sales all in percentages. You can access all the features I just talked about for free but for only $9 a month, you can even access the learning portal with Blossom Pro and enjoy these bite-size trading and investing video courses right here on the Blossom app. and if you'll allow me to shamelessly plug I have a trading 101 course and soon you'll see many others like Tax Strategies Options 101 and so much more.

I Personally have Blossom Pro which you can see you can see that I have advanced portfolio management tool for all my investments I can analyze my monthly dividends, set goals, and see my sector exposures so make sure to check out Blossom Again, you can use most of the features I mentioned for free free or you can get a free 7-Day trial to Blossom Pro down below I'm an Android investor in Blossom so I would love to see you try it even for free. If you have any feedback for us, please let me know in the comments. I Really, really appreciate it Before we move on to the third free tool which is one you can use for back testing and finding the highest win rate strategy reminder: you can sign up to my free Weekend Watch list down below every single. Sunday I Send out three to four stocks I'm following and the game plan for next week if you've seen some of the millionaire Trader guest that we had on our podcast such as Stepen Ducks who famously made $6 million in one day or Chris Verma who turned $3,000 into 1.67 million, then you've heard them repeat something very similar again and again in our interviews, data, statistics, and back testing.

Essentially, what these Traders are talking about is that you need to have collected enough chart examples of your particular strategy and find an edge that can generate you outsize profits. then and only then you should size a lot into those A+ setups. This is also a concept known as exponential bet sizing and a common question I see a lot in the comments is okay Shay How do you exactly get data and back test those strategies and you're right because without them you cannot find the highest winning percentage, strategy and the best entries and exits that will yield you the most profits. I'm sure I have a lot of viewers who are software engineers and they can turn some computer code in their head and voila, all the problems solved in five minutes and apples or Windows fall out of the sky.

But what if you don't know how to code? you don't know math and you don't know how to speak computers like me? Well, you can collect data and back test using. AI This is a tool I've been using for the last 3 months. This tool is called Spikey. Spikey is a market data research tool that allows you to pull months or years of data based on your specific criteria that you're looking for.

You can filter through stocks based on Market data average daily volume, intraday levels, indicators, highs and lows and the data is just endless. On top of that, you don't need to know how to code. You can get all of these results by just typing words using AI Okay, I'm sure a lot of you watching this right now are skeptical or just straight out confused. That's okay.

Let me show you a very simple demo on how to find the high probability and high win rate strategy. So you're on the main page with key right now. Um, this is is where you can talk to the AI tool and basically type out the kind of request for data that you're looking for. It's actually pretty cool.

So for today's demo I Want to show you a very simple Gap up bag holder short strategy that I've talked about many times before on this channel. Give me stocks that Gap up 50. Uh, up more than 50% and I'm looking for these stocks between uh, the entire year this year. So um, date range January 3rd to December Okay, and once you're done with your typing request, click get data with Ai Ai robot working hard in the background.

Okay, you can see it did that. Pulled all the data from that dat date range and all the criteria I'm looking for in 18 seconds. Let's see what it got. So go here and click open data.

all right so we can see there's some familiar names. Uh, you can see the AI tool gave me like oh this Okay, this is actually correct. 198 uh sample sizes and you can see the different columns gave gave me market cap open price, high price, low price, close price pre-market volume So these are The Columns of data that you're looking for. But I think for me: I'm trying to I'm trying to back test a specific strategy I'm already trading so I want to go back there and modify the specific columns I'm looking for.

so go over here, go over the results. I'm going to go Edit: so keep that the same. Um, on the free plan you can only search up to a year so that's a demo we're using. so go to Edit Filters.

Okay, so once we're in the edit, we're going to go to edit the filters. Let's see what it currently has. So you're scanning for stocks. Um, on these two exchanges.

That's great. We don't need anything inaday. we don't need indicators. Fundamentals: Yes.

I'm looking for market Cap under 500 million so you can see the wording to company's market cap custom I'm looking for stocks I have traded. You can see the wording display here. you're looking for stocks have traded at least a million on the day had gapped up 50% So hence the 1.5 and the previous day's close is at least a dollar because I don't trade anything under a dollar per share. So those are the filters for finding the stocks.

Now you want to go to edit column to spit out the essentially telling this uh, spiky AI tool to give you the different data columns that you're looking for. So I'll show you really quickly. You obviously want to see the symbol of the stock. You want to see the date of the gapper.

Now intraday is where it gets interesting. So I'm trying to back test an existing strategy I have. So let's see you know I Want to? You know? let's say short the pre-market highs level and try to hold it until the close. So then what I'm going to do is to find the pre-market highs level from 4:00 to 9:29 So this is going to be called PM High pre-market highs column and I also want to find so that's kind of the entry.

I Have in mind if I always want a short risking premar highs, that's the entry. Now what about my risk? Um, let's say I want to short. You know the highs at 10:00 What would that look like? So then I'm going to do the open price at 10:00 right? So the first price at 10:00 because this is the intraday range. So open price at 10 A.m.

open price at 10. So that's kind of what I have in mind. Essentially I want to short pre-market highs and then hold it through Close indicator: I Don't need that market cap? we can have that? Sure sure and you can see the preset is it can already show you the open price, high price, low price, close, and pre-market volume on the day. Okay, now we can preview our results.

the date range, um, again, the filter. These are the filters I'm looking for and columns are the data you're actually going to get out. So these are what I'm looking for: Market cap, premarket highs, open price at 10, and all the uh, pricing get data. Okay, as you can see, after about 35 seconds, Spiky AI gave us our results.

Now let's take a look. we have about 146 results. Okay, so essentially what we just did is that we asked Spiky the AI tool to pull us within entire Market all the stocks within the last year in 2023 that fit the criteria for small caps that we're looking for. and they're all here here and all these different columns are the data points I'm going to use to try to find the strategy so really quickly I Just want to know how many of these actually close below.

um, the pre-market highs price if that's the area. I'm looking to short. So I'm going to do, um, close price. It's smaller than premarket high, so really quickly close price smaller.

So this one is true. Okay, so let's just find the win rates of the strategy. So we know which stocks is true and false as in which one will work for the strategy. So let's really quickly create a separate sheet that, um, show me, show us exactly what we're looking for.

So 145 samples Gap up short strategy. So the entry method we're testing out is short pre-market highs. You know, profit targets. So I just created some really simple columns here.

Essentially, you're trying to find out how many of these are true, right? You're trying to find the win rate. So all of the data we gotten 119 of them is true for when the closing price is a lot lower than premarket highs. so out of those there's 119 of them is true. So 119 divid by 145.

That gives you 82% win rate. Now the win rate is high and that's great. But we also need to find out the potential risk reward because we want to know how much money we can expect to make and how much money we should expect to lose when we're wrong. So let's find out with the A average, um, profit when this is true.

Okay, so so let's find the profit per share closing price minus pre-market highs. So that's your profit per share for this particular stock. Now let's also think about the risk as well, right? So the risk will be if we get stopped out. Let's say our stop is.

that's why I had kind of TM t 10 A.m. price open over here. that's going to be our risk. So our stop will be when if the stock breaks through the 10: A.m.

price right and then we also same as profit. We want to know the risk for share per share. So in this case we want to find out if the 10 A.m Price ever gets above pre-market highs. Okay, so you can see this one's false.

We also want to know the potential risk per share. So we want to know the risk is 10 A.m. price minus. So that's the risk.

So we're going to do that for all the data columns we have here. Okay, I'm going to make this really pretty really quick. Okay, so it took me a little bit of time to figure out this Excel stuff. But essentially what we have is the sum of the total of true here for when the closing price is below the pre-market highs.

Because that's essentially the strategy you're shorting pre-market highs trying to cover at close. So how many times will that be lower? So 81.38% Basically 82% of the time that will be true. Now what happens If it's true and how much money would you make So on average, you'll make $33.50 per per share. This is a formula for if that condition is true, how many are there? So now we know the potential profit.

Now what happens if we get stopped out? So we want to calculate how many times will be stopped out if the stop is the 10 A.m. High the 10 A.m. price. Okay, that's going to be your stop.

So uh, let's see how many times we get stopped out which be over here. 10: A.m. price. It's A.m.

price is higher than Premarket high price so we're counting how many of that is true. So only 10 out of 145 samples is true for getting stopped out. So that means we'll only get stopped out 7% of the time. and when we get stopped out, the loss is on average 44 cents per share using this formula over here.

Okay, I just made a few more ads to the further explain this the best way possible. So um, so now knowing the data ass set we have for the entire 2023 I want to calculate how much money I could potentially make using this strategy so you can see our profit per trade on average? Remember this is the average. It's going to be $3,500 Now what if we do that for the entire year Right with the simulation? There's a total of $18 winning trade. So if we traded the entire year, that will equate to $411,000 on the year on the potential profit.

Now what happens if we lose Because we also want to know that right on average, your loss is going to be $575 per trade. And in a year that's going to be about $5,700 again. I Did the simulation simply to show you how you should back test your strategy on a free AI tool like Spiky I'm not saying you should go ahead and trade this strategy because again, we are back testing only one year sample size. Okay, so make sure to do your own homework and put in the work to make this your own if you really want to trade this.

um Gap up short, back holder, short strategy and remember I'm doing this with an existing strategy of mine. You should be doing this back testing and pulling all the data you need for all the strategies you're using. So that's how you know if your strategy can be repeated again and again in the the future. Obviously now I have the premium tier on Spiky, but even with a free tier, you can still send unlimited data requests to get data for up to one year range like this example over here.

Obviously you should always back test up to 5 years, but this is a great way for you to start systemizing your strategy as a Trader you should try it for yourself. You can use my link down below to try the free tier and see if you want to upgrade just like I I did. Obviously we don't have time for a very indepth, walkthrough tutorial, but if you want to see a full video dedicated to using spikey the AI tool to find your Edge and back test, then comment AI down below and I'll see if I can make a video for this. So the next free tool I'm going to talk about is Finis.

Now a lot of people don't think Finis is a big deal, but it's actually a very, very powerful free tool. When I first started trading years ago, I was trading part-time so during the day I need to go to work. How I speed up my process the next day during premarket trade planning is by using Finnis the night before. So right now it's after hours.

So what I used to do is go to Fis.com and go look at the top gappers on the day today in the evening. So I'll go in and look at all these top gainers. um, the top gainers right here. Sometimes always look at stocks as making new highs and I'll use that as a base to start doing my research and prepare for the next day.

So so for example, if I want to look at the stock F rgt penny stock so I'll go in and look at the company's market cap float and most importantly why the stock gapped up today in the first place and how I can plan to trade it tomorrow. You got to do your homework, especially if you're trading part-time and don't have the luxury of sitting in fromont of computers all day. So I Used to use Finis for after hour scan, but they also have a screener as well. That's not exactly useful for pre-market uh scanning, but it's useful for after hours or swing trading.

I Know we just went through four free tools for Traders already and I'll link all of them down below, but that's not all. If you're looking for free and easy to understand step-by-step lessons, then you should definitely check out my beginner strategy playlist. Here are just some of the free strategy lessons you can access for free on this channel: Technical Analysis Crash Course Gap Trading Crash Course Price Action Strategy Crash Course as well as Vwap Strategy Crash Course I'll leave you links to everything down below in the description. Thank you so much for watching and I'll see you guys next time.