LPS gapped up and formed WRB with an upper tail. The bearishness of the upper tail was offset by the lower tail on the second bar. The third bar was solid green and triggered my trade.
I'm going to adjust my scanning parameters so I can catch stocks like this.
I screen out right now ticks with 1 million or less average daily volume, which this was just under it looks, but yesterday, it had 3 million volume which is plenty liquid for day trading.
Over the last week I have been experimenting with my scanning parameters also.
The most important part of the job is weeding out the bad setups, so I am trying to tighten up my daily WL a little. Lately I have had about 120 stocks per day and it has been overwhelming.
I will let you know what my final parameters are when I figure it out.
8 comments:
What a way to come back! Great trade. Hope you had a good vacation.
Thanks Day Tradr!
Welcome back and cool trade!
Thanks Anarco!
I'm going to adjust my scanning parameters so I can catch stocks like this.
I screen out right now ticks with 1 million or less average daily volume, which this was just under it looks, but yesterday, it had 3 million volume which is plenty liquid for day trading.
Nice trade, good luck today.
Hey Charlie,
Over the last week I have been experimenting with my scanning parameters also.
The most important part of the job is weeding out the bad setups, so I am trying to tighten up my daily WL a little. Lately I have had about 120 stocks per day and it has been overwhelming.
I will let you know what my final parameters are when I figure it out.
Good luck,
Tyler
Hey Tyler~
Are you scanning both naz and sp500? I am also working on improving my scanning parameters.
Cheers,
Anarco,
I have been scanning Nasdaq and NYSE for the last couple of weeks using the eSignal scanner.
It has been giving me some good results, but I am working on narrowing down the WL everyday because there has been a lot.
Tyler
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