ThinkorSwim Stock Alert Scanner and Scripts Live Stream
Education
Introduction
Good morning, Traders! Happy Friday! I’m Ricky Gaspart, your host for today. Each morning, we utilize a momentum indicator to identify numbers that are on the rise. Our goal is to witness a significant volume spike accompanying these numbers, as shown in the charts. Once we identify a stock with spiking numbers, we verify the current bar volume to ensure it’s sufficient for a safe entry and exit.
To clarify, we’re looking for a dynamic volume flow indicating an active battle between buyers and sellers. Upon witnessing such a spike, we mark a resistance level where the price stops rising. When a pullback occurs, we’ll mark a support level, and it’s vital to plan our entry near this support level. However, we need to confirm that tall green bars appear in our Dominator Master indicator, indicating buyer strength that drives the price upwards. These bars should also be positioned above the yellow average volume line.
Additionally, our “My Blessing” indicator should be trending north, where green signifies buyers dominating and red indicates sellers. If you find yourself in a trade and the red begins showing in the Dominator bars, it serves as a warning that you may need to exit. I encourage everyone to consult with a licensed financial advisor before utilizing any of my indicators or taking my advice, as I am not a financial advisor.
For newcomers, I highly recommend watching our streams for several days to grasp our scalping strategy for profits. Trading can be complex, but by paying attention and following along, you can get the hang of it. Currently, I’m observing the market as it opens and am monitoring S Sobr, although this stock can be perilous due to its wide spreads. Be cautious with red indicators and ensure you can absorb initial losses if you choose to trade.
As the market opens, we notice significant movement in JD ZG and other stocks, indicating potential trades. A stock we’re keeping an eye on, VTAK, shows some promise despite its low price. Always look for green Dominator bars to gauge activity and confirm entries after a pullback.
Today's trading session shows various stocks active; remember to take profits and not hold onto positions too tightly—especially on Fridays, as many traders tend to close positions before the weekend. So far, I achieved a profit of $ 1,500 from 2,000 shares on a successful trading day, but it’s essential to monitor the signs closely for any downturns.
We’ve seen trades in various stocks, but it’s crucial to remain cautious. Even when a stock shows growth, always observe for potential pullbacks or signs that sellers may be taking profits. As we continue to navigate through the morning session, I encourage you to share insights and trade calls with other members, enhancing our collective trading success.
The aim is to follow trends and let the trades come to us rather than chasing after them. As the session progresses, I'll continue to monitor for promising stocks while reminding everyone that keeping an eye on volume and market sentiment is key.
Thank you for joining me today! Our next stream will be on Monday morning. I hope you all have a profitable trading experience and a blessed weekend. For those interested in joining our Discord community for deeper interactions and insights, please click the link provided above.
Keywords
- ThinkorSwim
- Stock trading
- Momentum indicator
- Volume spike
- Dominator Master
- Scalping profits
- Financial advisor
- Market opening
- Trading session
FAQ
What indicators do you use while trading?
- We primarily use the momentum indicator, Dominator Master, and My Blessing indicator to gauge market sentiment and make informed trading decisions.
What should I do if I see red in the Dominator bars?
- If red begins to appear in the Dominator bars, it's a caution sign that sellers may be taking profits, suggesting it might be time to exit your position.
Is it necessary to consult with a financial advisor?
- Yes, it is highly recommended to consult with a licensed financial advisor before implementing any trading strategies or using indicators.
How can beginners start with trading?
- Beginners should watch trading streams and observe the strategies for several days before actively participating, allowing them to grasp the trading concepts better.
What strategy do you employ on Fridays?
- On Fridays, we take caution as many traders tend to sell off their positions before the weekend, so it's essential to lock in profits and avoid holding too long.