ScanWinners:
An Introduction
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Some Rules for Using ScanWinners
#1 - The Bulls and Bears When a stock shows up as a "Bull" it means the stock is at a relative LOW. A "Bear" is a stock at a relative high. But, since there is NO way to pick "the" top or "the" bottom, ScanWinners tells us that (for "Bulls"), "From the closing price the date the scan was run and LOWER, the stock is a buy." For "Bears" the opposite is true: "From the closing price the date the scan was run and HIGHER, the stock is a sell."
#2 - The Bias Page Sometimes you want to know what's coming next, or, are looking for "diamonds in the rough". The "Bias" page will tell you what stocks have UPWARD momentum or DOWNWARD momentum, but, may be in the PROCESS of a move. Many traders like to ride a stock that's in a trend ("the trend is your friend"). If a stock has UPWARD momentum with a number LESS than 20, it means the stock is closer to a BUY than a sell. If a stock has UPWARD momentum with a number GREATER than 80, it means the stock is closer to a SELL than a buy. One way to look at it is this: A stock with UPWARD momentum and a number less than 20 would be one that to buy on dips, cover shorts, or, make an outright buy. A stock with UPWARD momentum and a number greater than 80 is one NOT to look to enter with a new buy, NOT look to cover shorts, but, look to start exiting longs. Downward bias stocks should be viewed like this: Down and under 20 - a stock setting up for a buy, or, a stock to cover if you are short; Down and over 80 - a stock setting up for more downside to stay short, or, a stock NOT ready to go long yet.
#3 - TRADE SMART See rule #1 again. That's the way to use ScanWinners. Use this site to get your IDEAS. Get them lined up. Get the trades set so that you ARE READY to take action if you can get an even better price than the previous close. ScanWinners is POWERFUL if you use it right!
#4 - Trade SMARTER No matter HOW you get a stock pick, use SMALL positions. This is not (as some would suggest) a "game". This is business. If you look at your trades as business decisions, not emotional dart throws, you can find great success with small positions. If you are looking for a slot-machine, well, this ain't it. Keep your order sizes to 1/8 of your portfolio or less per trade, and, don't let any one stock take you too far up or too far down.
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