I received a private message from a member inside our trading service, 12631, and wanted to turn this into a post in effort to help out a few of my readers.
Here’s the question below: (I’ll let it marinate with you, stay tuned for my response)
“RC, i’ll try to keep it brief for now. I want to refine my screening and further identify some of the types of picks you seek. so, how do you screen for and find trades such as KIOR mentioned earlier, as well as the many others?
You post a lot of these during the day(s) via the runner screen. Are there any other screens/screening techniques you use on a regular basis? Then, once screened, how do you go about looking for the best setups? what patterns, charts, technicals, or other factors, etc. do you favor in determining such picks?
For example, back to KIOR, and correct me if i am wrong, buy my read of that chart you posted is a hard bounce of some supportive bottom with good volume, a nice consolidated pullback of approx. 50% of the spike where the 20day and 50day converge, setting up a nice flag, and potential good set up. many other examples as well with differing patterns etc. trying to hone in on what your eye sees, and how to make it my own and find my own set ups.
Sincerely appreciate any and all info and suggestions towards expanding my knowledge and skills here. And, I got to say, I have really enjoyed being here inside 12631, since March, and has been a great learning experience, great environment, and great hosts. My endeavor is to trade on a full time permanent basis. and it has certainly improved since then.”