Today, I would like to share my own short term swing trading setup using the finviz stock screener. This setup is the best for my own personal needs, so tweak it according to your own trading style. I only swing trade to the long side.
I will explain my filter setup. I only pick US based stocks only. No indexes or foreign stocks. Foreign stocks have a tendency to gap up or down at much larger percentages, especially Chinese stocks.
The only fundamental stat I look at is sales growth quarter over quarter. Anything above 20% is good for me. Since this is based on fact and not an opinion from an analyst.
I also want the stock to trade above the 20, 50 and 200 day moving average. I want a stock that is in an uptrend and as Ed Seykota says “the trend is your friend, except at the end where it bends”. I want to be part of the trend until the technicals lets me know that I should cut my losses.
I also specifically like short float over 5%, as it means that someone else is betting against the stock. Sometimes a short squeeze can really pump the stock much higher than it should.
Since I have a smaller account, having stocks with a beta of 1 or higher will help, especially when trying to have proper position sizing for the trade. If you have a large account, this is not an issue.
The trading volume should be over 300,000 to avoid liquidity issues when trying to get in and out of the trade. A large account should raise this filter to at least over 500,000.
I also do not trade stocks under $5, as it usually is a penny stock. Also, the stock must be trading for at least a year for me to look at it.
With the stock screener filters explained, now I will switch the filter from overall to TA tab to see how the chart of each stock looks.
I will go down the list to see which stocks have a trading setup such as bull flags, high base or potential pullbacks that I can trade.
After that, I will put them into my tradingview watch list and set up some alerts if necessary.
This process may be a bit tedious, but it has been worth it for me in the long run.
It is a fairly simple process.
Trading is a game of patience and discipline.
Hope that helps you. Cheers and happy trading!
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