Not missing the boat...as in how to

[bb3305798Gox]

I'm new to daytrading (obviously) but have been paper trading for quite some time. I've got a good handle on my style, personality, patterns, timing, etc. One thing i cannot figure out is how to spot good stocks to watch prior to the trading day?

I read the news releases, follow big days of earnings and that good stuff. but it still just seems like throwing darts as to whether my watch list has any worthwhile picks on any given day

[bczbivcy71]

This is a major skill that a day trader needs to learn and it is not easy for a newbie as if you accept any hot tip from chat sites you can be lead down a garden path.

I am not saying that chat sites are not viable I have been on several though I am not a daytrader I have been exposed to them a lot. You rarely get a heads up on those sites....usually they are places where those that can find the plays ahead of the rise, pump their finds so that others join in to raise the price so that the pumpers can bail (https://futures.io/wiki/trading-wiki/Bail) out.

Not all those posters are bad though...some are pretty good and so If I were inclined I would sit back with a level 2 charting software and see if the plays were good or bad and note the "good guys"

If you don't already have a L2 service...this is not a bad free service

Level2StockQuotes.com - Stock Charts (http://www.level2stockquotes.com/stock-charts.html)

Another source of tips could be Twitter...but again once you find these people test them out before believing in their pitch.

BEST of all though is to do the digging yourself.

[Bengerdsnaf]

Thanks UEX, i'm definitely more interested in learning how to do it myself instead of relying on rumors, tips, and anyone with motives outside of my best interest. And I have no problem relying heavily on charts and analysis. I just seem to find most of this after the fact, after the move occurred and my play should have happened.

I guess my question is this: Are there tools out there that can help identify stocks in real time based on criteria specific to day traders? Things like avg volume, price, opening gaps, movement outside a predefined range (https://futures.io/wiki/trading-wiki/Range) at open, etc. And then possibly even add (https://futures.io/wiki/trading-wiki/Add) in factors for earnings announcements and other less numerical indicators?

[BeauStanto]

there may be some sites on some of that stuff but I doubt it would be for free.

If you feel dangerous you can type "Pump and Dump alerts" into google and you will find websites that are devoted to identifying them as stocks to avoid ...

As far as daytrader alerts with limited info on the alert you might try StockTwits at the following address

Day Trading Alerts (AlertTrade) on StockTwits (http://stocktwits.com/AlertTrade)

what I would do is have that Level 2 charting service...or one of your own set up in multiple instances as test an alert in each one (strip off the $)

Here is one example from that list

[Bennierge]

they were pretty decent guys who helped others out when I did know them.

BUT BEWARE of these alerting services/websites...90% of the time they are PAID for promotion of the company. Usually not in money...they are usually paid in free shares in that company. That gives them incentive to promote the heck out of the companies they tout...both of the above sources I gave are probably paid to do what they do.

So if you are going to play these stocks...don't believe the pitch (any P&D has plausible but unverifiable news) .... don't listen to the pumpers talking one, two, three baggers...if they say they are "backing up the truck to load up (https://futures.io/wiki/trading-wiki/Load-Up)"... laugh at they. They are like barkers at a carnival game...they want your money.

If you do play... get in early....get out at the smallest hint of a down turn....repeat with another P&D....these stocks are like roman candles...pretty on the way up...then nothing!