Finding Stocks To Swing Trade – What if you only needed about 45 minutes a day to manage your open trades and look for new money opportunities? Enter: Finviz and the stock exchange.
I am a classical analyst / technical analyst. Always was, always will be. I’ve also always been a day trader, but I’m moving more and more to long-term stocks on daily charts.
Finding Stocks To Swing Trade
Why? Since that was always my ultimate goal, I just didn’t have enough money, but that problem solved itself over the years.
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I currently have about 30 positions open and I want to show you how I use Finviz to search for setups.
Now I’m just scanning the technical aspects. I will expand the use of Finviz to descriptive and fundamental criteria in the future after I complete the research.
Basically, my research is like this: I trade every major technical setup I see. I then follow the descriptive and fundamental information in the Edgewonk trading journal and after a few months I can search through my database for useful indicators/filters to accompany my technical setups.
Here we have several options. First, notice the “Signal” filter above, which searches for possible settings based on classic chart principles or performance indicators.
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I don’t use this filter or the “Pattern” filter because I prefer to find them myself faster than I can find my favorite candlestick shapes, but you might like them.
Here, we are interested in each filter: we go through them one by one and then check if the charts show us pin bars or trend continuation bars in the case of Dojis. Marubozs help us find the swallowed candles.
Another filter I’m interested in is “Change from open”; Just select “up 3%” and “down 3%” to find surrounding candles as well.
After applying the filter, it is important to change the chart view for faster viewing, as you will only get a list of potential trade candidates, but not a visual representation of them.
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Here, we have filtered the 7,000 stocks that Finviz has on its radar for the 260 bar Hammer. Now we can quickly move between them and see which one interests us.
The scanner is far from perfect and has a lot of junk that I can quickly sort out visually. It takes me about 2 minutes to go through these 260 charts. Then we just move on to the next filter.
So let me quickly go through the filters until I find something good… and then let’s move on to the next step.
Ah… we have one. Look at the picture below: a long wick, maybe the surface is broken or fake… that’s a turning point.
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Let’s open a larger chart to see what we can find (just right click on the small chart and open it in a new tab so you don’t have to jump back and forth all the time. I’ll do this with all the potential charts first I do. ). before going through them one by one).
At first glance, I see a downtrending channel that we rejected, we are definitely in a countertrend here. Not my favorite setting, but good enough for me to take a closer look.
This chart now includes a selection of possible settings for the day. After scanning all stocks with all filters and manually from futures, indices and forex markets not covered by Finviz, I take a closer look at all these candidates in TradingView.
This is our configuration from above. We have simulated one of the most beautiful surfaces I have seen in a long time, but I see some problems with this surface.
What Is Swing Trading?
That’s the beauty when you have so many options. Every day out of 7000 stocks and about 100 forex and futures instruments I can easily pick 2-3 best setups and just trade them without feeling bad. Casting configurations have never been so easy for me.
However, I still see potential for this business if it breaks the local structure and trend, like Head&Shoulders.
So this is going on my watch list and I’ll be keeping an eye on it over the next few weeks to see what happens with it. Also, out of curiosity, I’d like to see how this setup works. Unearned trades should also be analyzed for their performance.
After going through this process with all potential candidates, I check how much margin I have left in my risk management plan and then allocate funds to different scenarios depending on the strength of the setup.
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All this takes me about 1 hour each day, sometimes more and often less, and then I enter my orders and don’t look at my trading point until the next morning.
I wish Finviz covered more markets, but for now I’m perfectly happy with it. Also, if you pay for an Elite account, filtering will be much more convenient and you will save more time.
This approach to the markets can be easily learned and tested while day trading or performing other tasks, which is what makes it so attractive.
Due to the large number of trading setups, we can trade with minimal risk and still make the same profit as day trading. So, you know that you want to start investing and you have decided to implement a swing trading strategy. A great option: Compared to day trading, swing trading takes less time and in some cases gives more impressive profits. But you just have one question…how to find resources for swing trading? Fortunately, you have come to the right resource. We are here to help. Today, you will learn how to choose stocks for fast trading: manual analysis, guesswork, just simple investment tactics that allow you to trade on autopilot.
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Sound too good to be true? It’s not… you just have to read to the end for the interesting details. Before we explain how to choose swing trading options with , we want to teach you the old way. We explain how to select stocks for swing trading using technical and fundamental analysis. And we’ll even teach you how to manage your position, enter and exit with perfect timing once you’ve identified the actions to change the trade.
First of all, we want to quickly emphasize the importance of developing a repeatable strategy that allows you to find the right opportunities. This is not something you should take lightly, so please read this guide carefully. Let’s get right into today’s topic…
The importance of learning how to find stocks for swing trading cannot be overstated. More important than just finding good value for swing trading is creating a consistent and repeatable strategy. After all, you’re not here to win a trade. You are here to make a living from swing trading or to generate additional income as a side business. This means you need a process that you can repeat with a high success rate. And for this, you must first understand the principles behind finding opportunities in the stock market.
If you’re just starting to learn swing trading, we encourage you to check out some of the helpful resources we’ve developed on our blog, such as how the stock market works, our guide to stock prices, and our guide to feeling the market Our trading guide for beginners also covers the basics of this strategy. But if you’re ready to learn how to find stocks for swing trading, don’t waste any more time. We will start with traditional methods that investors are left without.
Explained: What Is Position Trading Vs. Swing Trading?
Before we get into the details of how to pick stocks for swing trading, we would like to point out that the principles you follow for this type of strategy are very different from others. It depends on how swing trading works. You are not concerned with the long-term potential of the stock – your goal is to capitalize on these short-term changes in the stock price. You may find your best opportunities in a stock that is slowly going down because you can drop small bombs on the downside and make a modest profit each time.
Therefore, learning to identify stocks for swing trading is mostly based on technical analysis and not so much on fundamental analysis. The best swing trading indicators are very different from day trading, long term trading… you think. So, with all that said, let’s get into the meat and potatoes of how to pick stocks for fast trading. We begin by determining how to select stocks for your unique strategy.
Before you can figure out how to identify stocks for swing trading, you need to know what you’re looking for… right? It is not one size fits all. Your criteria for finding
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