How To Scan For Swing Stocks 101 | TD Ameritrade ThinkorSwim

TL;DR

Learn how to find swing trade stocks using a gap scanner and set criteria, with potential profit and loss analysis.

Transcript

what's going on yeah so we have about nine seconds until the market opens I'm going to show you very quickly on how it is that I scan for my swing trade stocks so this is a TD Ameritrade thinkorswim platform it's a free platform that you can download if you are within the United States with that being said I go to scan this is my gap scanner this i... Read More

Key Insights

• 😫 Using a gap scanner and set criteria can help identify potential swing trade stocks efficiently.
• 🧑‍🏭 Volume levels and trend patterns are crucial factors in selecting profitable swing trade opportunities.
• ✳️ Calculating potential profit and managing risk are essential aspects of successful swing trading.
• 😫 Setting alerts and stop-loss levels can help traders react effectively to market changes.
• 🎚️ Monitoring resistance levels, support levels, and trend confirmations is key to making informed swing trade decisions.
• ™️ Patience and discipline are necessary for waiting for proper confirmations and avoiding impulsive trades.
• 🌸 Understanding potential profit and loss scenarios is vital for creating a balanced risk-reward strategy in swing trading.

Questions & Answers

Q: How does the speaker scan for swing trade stocks?

The speaker uses TD Ameritrade's Thinkorswim platform with a gap scanner and set criteria to find potential swing trade stocks based on volume and trend patterns.

Q: What factors does the speaker consider before selecting a stock for swing trading?

The speaker considers volume levels, trend patterns, resistance levels, potential profit, and risk management before selecting a stock for swing trading.

Q: How does the speaker calculate potential profit and loss for a swing trade?

The speaker calculates potential profit by identifying target prices and percentage gains, while also managing potential losses by setting stop-loss levels based on risk tolerance and trend confirmation.

Q: How does the speaker approach setting alerts and managing risk in swing trading?

The speaker sets alerts for price levels above and below the entry point to confirm trend directions and manage risk, ensuring timely actions based on market movements.

Summary & Key Takeaways

• Demonstrates using TD Ameritrade's Thinkorswim platform for swing trade stock scans.

• Discusses criteria for selecting potential trades based on volume and trends.

• Provides examples of potential trade setups and profit/loss calculations.