Fast moving stocks, quick profits and done by 11am! What could be better for a day trader than hitting profit targets by the time the crazy first hour of the market open is over? Day trading for a living is definitely the hardest way to make an easy living. But if you are going to head down this path, there is one thing that stands head and shoulders above all others. You must find stocks that are moving. In this article, I’m going to take you through 3 of the best scans you can run to shortlist your opportunities for the day ahead. 1. Scan for stocks breaking into new recent highs
Scanning for stocks breaking into new recent highs is one of the fastest ways to find stocks that are likely to explode in the next few trading sessions.
Blue sky territory is one of the most popular trading phrases for traders covering all time frames. Blue sky refers to the stock now sitting at a level it has never been before.
You would be hard pressed to find a disappointed investor or trader, as the stock is at the highest point ever in its history. This is a good sign.
Having said that, traders will refer to ‘blue sky territory’ for a stock, even if it is hitting the highest price in the last 30, 60, 90 or 200 days.
Euphoria among all current holders of the stock is common. There will be a scrambling among those who are late to the party…