ThinkorSwim Stock Alert Scanner and Scripts Live Stream
Education
Introduction
Good morning, traders! Welcome to another live stream of stock trading analysis. I’m Ricky, and as we do every morning, we will be focusing on the momentum column and observing the numbers displayed in white. Our aim is to see these numbers start to move and climb. Once that happens, I will click on them, and you will witness the stock begin to run.
Checking Volume
Before diving in, it's crucial to assess the current bar volume. We want to ensure there's enough volume for safe entry and exit. This volume should be flowing steadily—no hesitating or pausing. Once we confirm that the volume is solid, we can observe the price moving upwards, and I will indicate a resistance level on the chart.
Let me clean the chart so I can demonstrate more effectively. When I mark a resistance level, anticipate that the stock will likely turn around and head back down. For beginner traders, I recommend setting a support level and planning to enter around this support level, but not without first confirming that the buying strength is breaking above the average volume line.
Trading Strategies
As we see green bars appearing, indicating buyers coming in, hold onto the stock until you notice red bars popping up. That's your cue to exit and try to lock in profits. It's also essential to check our My Blessing indicator, which depicts buyers and sellers in action.
To recap: when a number spikes, we quickly verify the volume, check the price action, identify resistance and support levels, and confirm that our indicators are in sync before making a move. Trading can be risky, and new traders should be cautious and not invest real money until they fully understand the process. Remember, I'm not a professional financial advisor, so consult the right authorities before implementing any of my suggestions.
Scanning for Stocks
In the pre-market session, ensure you have EXT selected in your TIF settings. This morning, I'm testing a new scan located at the bottom of our setup, specifically designed to catch volatility spikes. We might see more stocks emerging as the regular session proceeds.
Now, if you had audio issues on Discord, they should be fixed. For those who missed the introduction, replaying the video will help. I appreciate everybody tuning in, especially those on YouTube.
Monitoring Stock Movements
Today, we've been watching NVV, which has been climbing. However, we need to pay attention to indications of potential movement. We're monitoring the current volume bar and looking for signs that buyers are stepping in. The Dominator Master indicator is key here, showing the buyer's pulse.
As we analyze several stocks, like BDTX and SGN, we'll focus on volume spikes and price actions. If there are low volumes, refrain from jumping in as it could hinder exit opportunities. Be on the lookout for tall green bars, which indicate sustained buying activity, and red bars for times to sell.
Be aware of pullbacks; a white arrow can indicate when to enter a position again after a dip. It is essential to stay alert to sell signals and market dynamics to maximize gains while minimizing risks.
Community Insight
Remember, stock trading involves varying degrees of experience. I encourage new traders to engage in practice sessions before committing real funds. Utilizing these indicators effectively is crucial for success.
Further, the ability to access scans in real-time is a significant advantage. Our Discord community helps lessen delays, as members can post timely stock picks. Active engagement can lead to better trading outcomes.
Conclusion
In closing, I will sign off at 5:55 PM today. For those looking to dive deeper, please check out the premium membership options available. It’s worth it for anyone serious about improving their trading skills. Thank you for being with me today, and I hope you walk away with valuable insights and potentially some profits. Until Wednesday, keep your heads up and your trades smart!
Keywords
Trading, Momentum Column, Volume, Resistance Level, Support Level, Indicators, Scalping, Profit-Taking, Stock Picks, Discord Community.
FAQ
1. What is the momentum column?
The momentum column is a section that shows stocks that are gaining momentum in price movement, which we monitor to identify potential trading opportunities.
2. How important is volume in stock trading?
Volume is critical as it signifies the strength of price movements. Higher volume can indicate strong buyer or seller interest, making it safer to enter and exit trades.
3. What indicators are recommended for new traders?
It's advisable to use the My Blessing indicator for tracking buyers and sellers, along with volume indicators to confirm stock movement before making trades.
4. Should beginners use real money for trading?
No, beginners should practice trading strategies before using real money to avoid significant financial losses. Training in simulated environments is highly recommended.
5. How can I access live streams?
You can join the live streams on platforms like Discord and YouTube, where stock analyses and alerts are shared. Be sure to follow the scheduled times to participate actively.