How to select stocks for intraday.........

[praveen5344]

Can anyone share their view on how to select stocks for next day that have high potential to move in a direction be it Upward or Downward unlike making whipsaws where the Buy position hit stoploss and sell position also hits stoploss.............

 

[sanju005ind]

One can use Icharts.com EOD screener. I try to keep a list of stocks for Long and short.
You need to click on Advance Search.Use the following criteria
For Longs
AvgVolume > 2000000 (For Liquidity)
Last Close > 200 ( To avoid Operator manipulated stocks)
Last close greater than EMA 5
EMA 5 Greater than EMA 13.


For Shorting.
AvgVolume > 2000000 (For Liquidity)
Last Close > 200 ( To avoid Operator manipulated stocks)
Last close Less than EMA 5
EMA 5 Less than EMA 13.


Offcourse you can play around the averages or you can even use the query like
LTP greater than EMA 13 But Less than EMA 5.( The stock is just about to move up)
LTP Less than EMA 13 But greater than EMA 5.( The stock is just about to move down)

You can even screen by RSI > 80 or ADX greater than 60. Just play around them. Once yout get the stocks.Confirm from your daily charts.

 

[jagankris]

One can use Icharts.com EOD screener.

Thanks.
It is Icharts.in

 

[sanju005ind]

Sorry about that its Icharts.in You could also be more creative if your broker software allows it.Like for example sharekhan trade tiger has a filter.
Where even you can use the High it in between EMA 5 and 13 or Low is in between EMA 5 and 13.This will ensure that the stock is just about to move in the direction of the EMA's.

 

[pannet1]

I wanted to start a thread with exactly same topic. Since already there is a thread with similar name, I thought i could hijack this thread.

1) Are there any successful intraday traders here (trading equity cash/stock futures).
2) if yes, do you think selection of stocks for that particular trading day, have impact on your bottom line
3) if yes, Please post how you select your stock.


Here is a head start.

Mike Bellafiore is ran a successful prop trading firm and had groomed many extraordinary day traders. He talks of Stocks in Play.

Note: Others, who are yet to successful, please post your ideas here.

 

[brs2830]

. Track NYSE listed stock trend..example .ICICI bk..Infosys etc..Track weekly high low stocks then go for kill in next Monday...Follow a stocks as a GF....when you think that GF is eligible for marry go for proposal (Track that stock contentious 3 months) my few Afghanistani notes...not few cents

 

[InvestingKick]

Can anyone share their view on how to select stocks for next day that have high potential to move in a direction be it Upward or Downward unlike making whipsaws where the Buy position hit stoploss and sell position also hits stoploss.............

Focus on long term investment

 

[bpr]

I also wanted to create a thread on stocks in play. As I am a swing trader I want to know what stock is relevant for the week /month instead of intraday but the idea is same. I think if somebody good at finding stocks in play it can make a lot of difference to his pnl.

 

[pannet1]

I also wanted to create a thread on stocks in play. As I am a swing trader I want to know what stock is relevant for the week /month instead of intraday but the idea is same. I think if somebody good at finding stocks in play it can make a lot of difference to his pnl.

so ...

1) you don't have leverage
2) you don't short sell
3) you suffer taxes of holdings

and its still worth it ? if you are doing it for long time ... you should have beaten the intraday randomness.

 

[sanju005ind]

I also wanted to create a thread on stocks in play. As I am a swing trader I want to know what stock is relevant for the week /month instead of intraday but the idea is same. I think if somebody good at finding stocks in play it can make a lot of difference to his pnl.

For Swings I use all those stocks which fulfill the reversal criteria as found in Tom De Mark mehtod.It works great for me apart from NR4 and NR 7.