≈ Learn how to find great setups ≈
Daily, most trader’s scan their watch lists for opportunities. If there are not enough good setups on their watch lists, they will then go to scanning the broad market. Scanning is an activity that should be done regularly, at least once a week. How each trader approaches scanning will depend on what tools they have access to and know how to use. A popular tool is found in the Finviz screener, and it is the one that Coach Frank uses to run his scans as he is looking for interesting charts for our weekly scouting reports.
When you scan for stocks, there are simple filters you can use to narrow your scope and be efficient with your time. Things like minimum average daily volume, stock price, sector and performance can be set to your specific parameters. If you have never run a scan before, it will be an educational experience to try. And, if you are a veteran at scanning, you can probably get some tips and tricks to help you improve efficiency.
Today’s daily video is a tutorial from Coach Frank, the breakout specialist, where he teaches us how he likes to use the FinViz screener. Watch the replay below and then try to run some scans for yourself.
Chart of the Day
NIKE, Inc. (Ticker: NKE)
Nike has been in a long term uptrend, after beating earnings last month, the stock has consolidated for some time and is now threatening a breakout. It was a candidate on this week’s Options Report. Review the full report here: https://tackletrading.com/options-report-october-17th-2020/
Video of the day
Scanning for Stocks
Coach ‘Breakout’ Frank teaches the team how he scans for stocks in this tutorial.
Traders Lounge 11 AM EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
Coaches Show Replay
Halftime Report 12:30 PM EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.
YouTube Special – Covered Calls
Join us for a special webinar with Coach Noah at 7 pm EST on Covered Calls
STEP System Mastermind 8:30 pm EST
Join our monthly mastermind on how to trade the Cash Flow Condors System.
Financial freedom is a journey
Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.
Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.
All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.