How do you screen for stocks to trade? http://www.traders.com/Documentation...interview.html
First, I'll check the industry relative strength by ranking the 46 industries I follow for performance over the last six months. The order of the top 10 doesn't change much-stocks doing well continue to do well. I want to know what's working and what industries to avoid.
Then I'll page through nearly 450 securities, mostly stocks. Each stock is sorted by industry, so all airline stocks appear first and then basic chemicals, and so on. I look at the same 450 each day, so I get a feel not only for each stock, but for the industry as well.
Next, as each screen appears, my computer searches for chart patterns and candlesticks automatically, and the chart border changes color depending on the industry relative strength, so that alerts me to the leaders and laggards. So my computer and I catch most of the chart patterns worth finding.
And finally, when I see an interesting chart pattern worth trading, I push a button and my electronic notebook appears, formatted with a checklist of stuff I look for, such as my stop price, target price, future market direction, chart pattern score, and so on. It may take up to an hour to qualify a pattern, but once I'm done with my research, I make a trading decision.