In the last few years, I've developed a model based largely on #CANSLIM fundamentals characteristics to focus on the best stocks.
Not having the money to afford a #MarketSmith sub at the time, I built my own fundamental & technical scoring system into an Excel spreadsheet
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PRIME Model explained 🥇
I use this model to narrow the entire US stock market to the top 400/500 names with the best fundamentals and technical characteristics I'm looking for.
It creates the universe list that I use every day to find the best setups for the FL.
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In the coming days, that's something that I will share daily with the PrimeTrading Newsletter subscriber as added content.
This weekend, I share it over here on #fintwit for you folks.
How to find the TOP SWING trade setups in the LEADING #stocks 🔎
FIND the needle in a haystack
Thread! 🧵
In order to drill down the entire US stock market into a FocusList of tradable setups, I go through these 4 steps each day:
1⃣ Building the UniverseList (≈ 500 names)
2⃣ Building the WatchList (10-100 names)
3⃣ Building the FocusList (0-10 names)
4⃣ EXECUTING the FocusList
1⃣ Building the UniverseList
The first step for me is to build what I call my UniverseList. This list contains the stocks that fit the fundamental & technical criteria that I want to see on every stock that I trade.
Price forms an orderly pullback contained by a down-trend line (DTL). You want to see low volume within that wedge formation, with small down swings ideally.
Buy:
• DTL breakout ideally on higher than average. volume, OR
• PIVOT breakout daily high, OR
• Intraday PIVOT breakout H1 high
Stop Loss:
• Low Of Day (LOD), OR
• Recent swing low
Price forming an orderly pullback contained by a down trend line (DTL). You want to see low volume within that wedge formation, with small down swings ideally.
Buy:
• DTL breakout ideally on higher than avrg. volume, OR
• PIVOT breakout daily high, OR
• Intraday PIVOT breakout H1 high
Stop Loss:
• Low Of Day (LOD), OR
• Recent swing low
How to find the TOP SWING trade setups in the LEADING #stocks 🔎
FIND the needle in a haystack
Thread! 🧵
In order to drill down the entire US stock market into a FocusList of tradable setups, I go through these 4 steps each day:
1⃣ Building the UniverseList (≈ 500 names)
2⃣ Building the WatchList (10-100 names)
3⃣ Building the FocusList (0-10 names)
4⃣ EXECUTING the FocusList
1⃣ Building the UniverseList
The first step for me is to build what I call my UniverseList. This list contains the stocks that fit the fundamental & technical criteria that I want to see on every stock that I trade.