Can anyone share the best way to screen for daytrading stocks specifically looking for volume and ATR? Thanks mjh
I am not a daytrader anymore, but a couple of my daytrading associates talk highly of trade-ideas... Its cheap too, under $100 a month... http://www.trade-ideas.com/PriceList.html
Give consideration to stocks making new highs or lows in intermediate and longer-term time frames. The trend-extension attracts more "system players" to the stock which translates into trading volume.
This is pretty much all I do. Check pre market volume gainers. Volume should be at least 20% of avg volume before the market opens. Check chart to see if there was volume dry up over the past few days ( if not longer ). Price should be gapping up. Dont enter for the first 10 minutes to see trend. Wait for first pullback to complete on declining volume and next upleg to BO above opening high. Following these rules you would have caught IFON this morning. Works best with lower priced OTC equities. It doesnt get you in on the bottom nor out at the top..but it gets pretty solid gains without a lot of risk. Also..dont force trades if nothing is following this strategy in the morning. Sometimes I only find a couple of these a week ( though lately I cant keep up with them ) Just my version of momentum...for all I know its a common system.