Finding The One. Finding the correct volatility with the volume and the technical stack to trade it.
by
Crunching_The_Market
12 months
ago
What say you on how you find them and trade them?
C
Crunching_The_Market
12 months
ago
I've been watching the Relative Volume with the Hot List by volume and price on Tradingview. Haven't worked in the alerts from STB as I think I just have it too broad and I'm looking for the scalp trade for the hot moment. I've setup by charts to run at 5m/1m/15sec and trade the PSAR on the 15 sec and wait for the 5m and 1m to be green so that gives me the trend. No Tradey if 5m or 1m don't agree. The trend is your friend. Have been looking for stocks that are crossing the 50 above the 200 as that has started to be a thing with this down market. I think the RSI crossing scan will help a lot with this. I just did the scan on that for crossing above the 30 from $1 to $30 and there are some good candidates from today's big movers down. Some may continue down BUT when the turn from down to crossing above the 30 - they are on the list to be moving from the oversold area back to good. I say this here because it's not 1000s of people reading all this but a few who like Mike's system and contribute.
Sounds like you're operating on a pretty short intraday timeframe. When I used to day trade I just looked for stocks which were already in motion with greater than typical volume. So on SwingTradeBot I'd be looking at some of the Intraday Alerts like gappers, volume surges, up/down % & ATRs and maybe some others depending on if you're looking for reversals or breakouts/continuations.
First, if you're trading on that time frame you should probably be using a streaming, real-time screener, which SwingTradeBot is not. It pulls quotes every few minutes & then processes intraday alerts. So something like trade-ideas.com.
I went to look at what intraday alerts SwingTradeBot generated for VCIG and I was surprised to see that there are none. The problem is that my intraday quote provider doesn't even have it in their system yet. It usually takes a few days for them to get a newly listed stock into their system but I don't think I've seen it take this long. I'm going to contact them about adding this one.
If SwingTradeBot had been getting quotes for this you could have caught it by watching for any of the following:
it's too young to have (20 day) Bollinger Bands but if it had them then the "Rose Above Upper Bollinger Band" would have triggered
You'd have to run one of those scans (or a Combo scan of them). Alternatively, you could have added VCIG to a watchlist or portfolio which was configured to watch for any of those alerts and view your watchlist & portfolio intraday alerts page or have those alerts pushed to your mobile device
For example, note the 10x difference in prices in the individual use vs commercial use plans at this provider -- https://polygon.io/pricing . And that's not even including the exchange fees which are tacked on to the commercial use plans.
Those type of data providers are at least an order of magnitude more expensive. Would you be willing to pay 10x the current price?
My server costs & complexity would increase dramatically because I'd have to ingest an incredible amount of data to process alerts on thousands of stocks every second.
SwingTradeBot has always been aimed at swing traders (hence the name!), who shouldn't even need real time quotes. There are systems out there, like trade-ideas, which are already great at intraday alerts. I see no need to enter that space. IMHO, if you're trying to day trade on a super-low time frame you really should be using something that's integrated with your brokerage's platform.
Mike, I can appreciate some traders need for RTD but STB as it stands has by far the best and far "SIMPLER" scanning capability without forking over multiple thousands of dollars for us swing/position traders. The capability to choose past dates to see what would have shown up on a scan makws building scans much more productive. Thank you so much!
