What’s your favorite scans/screeners to find good trades/opportunities? Any recommendation on one? And what’s your favorite parameters to use when scanning?
I scan for stocks whose IV change (from close) is >7-10%. Assuming price is above $10, avg option volume >2500, and 30-day IV >20%.
Sounds like you not only don't want to do the work to scan for stocks to trade, you don't want to do the work to find a scanner that will do this for you. I don't say you need to repeat work others have done, nor that you can't follow a successful route already proven. But suppose you have a good scanner and it generates a list of 25 stocks to buy - how will you select the right one? Where will you enter? Where will you put your stop? Will you use a TP, and where will you put it? Or will you pyramid it? And should you hedge it? Don't jump into water until you know how deep it is (or isn't).
@tomorton Sounds like you not only want to contribute to threads when you have nothing to offer, but you want to throw in a dose of condescension free of charge. I don't recall the OP asking, "Hey, anyone have general (sarcastic) advice for how to manage positions?"
Our Lightspeed Trader platfrom has a built in stock scanner called LightScan. https://www.lightspeed.com/trading-platforms/lightspeed-trader/platform-features/ LightScan searches the entire universe of stocks to display symbols sorted and filtered based on your preferences. Sort by over 100 possible criteria and filter to create infinite possibilities. For a demo of any of our platfrom, go to this link. Please say you heard about us from Elite Trader. https://www.lightspeed.com/demo-request/
+1 No one ever accomplished anything by listening to the naysayers. To the OP; keep asking questions, keep learning, and don't pay attention to clowns like the guy above.
Merely a cautionary message that finding a quick way to select targets isn't the end of the story. It isn't even the beginning. I do want the OP to come back and ask questions and dropped just a tiny number of hints as to what issues need to be considered. I absolutely try to help new traders avoid dangerous pitfalls and have posted thousands of words of free advice. But I notice you didn't yet give any advice to the OP. You go ahead, I'll follow on.