Scanners are Key to Finding the Best Stocks to Trade
We will go over what scanners are, where you can find them in the Trading Room and how you can utilize them as a helpful tool.
Scanners are usually a software or browser-based application that you run on your computer. The scanners constantly scan the market looking for stocks or options trades that are meeting specific criteria that are pre-outlined by the filters in the scanner settings.
Settings/filters include but are not limited to:
- Market Capitalization
- Price
- Volume
- Relative Volume
- Float
- Moving Averages
- Highs and Lows
- Specific Ranges
Luckily in our Trading Room, we have the filters set up and running. All that you need is to tune into the LIVE stream. We encourage you to take advantage of the wealth of curated data at your fingertips. Here’s some of the scanners we have running:
- Momentum Scanners
- Volume Leader Scanners
- Volume Blaster Scanners
- Calls, Puts and Options Scanners
- Gap Up and Gap Down Scanners
- Shorts Feelin’ The Pain Scanners
You will be able to find the scanners in the Trading Room in the Chat Room category of channels. To view the scanners hover your mouse over the Pure Power Picks account and click ‘stream’. You can adjust settings of the stream to fit your trading setup preferences. (see video above for instructions)
Use Scanners Like a Professional Trader
Scanners can be overwhelming at first, especially to new traders. We can assure you that once you understand what the data is telling you, trading has the potential to be a lot simpler.
What you look for should depend on your style of trading. Most day traders prefer scanners that are based on volume and momentum.
These are a couple thoughts you should have after you see a ticker on scans that interests your trading mind:
Do the technicals on the chart provide a prime opportunity for a breakout or breakdown trade? Is there breaking news or a headline on this stock that has multi-day run potential?
Make sure to check out our Trading Course, scanners chapter for more depth on the subject. We also have a helpful blog post.
Xtreme Master Blaster Scanner
Is great for seeking out stocks trading at high relative volume throughout the day. This means there is heavy interest and a lot of eyes on these tickers as they are trading with more volume than usual. If you see a ticker constantly popping up on these scans, it’s probably worth pulling up a chart and look for opportunity.
Volume Leader Scanner
Is a great scanner to monitor the stocks the the most volume of they day. Remember, volume is like the gas that makes the car run. Without the gas, it won’t move much. So being able to narrow down these stocks is crucial!
The Shorts Feelin’ The Pain Scanner
Is popular because it allows you to see stocks that are heavily shorted but are having bullish trading action. A lot of these moves can get sold off, however, they can also be great squeeze candidates if they break resistances and hold. Shorts get deeper underwater and the stocks can really move when they are forced to cover. This scanner is great for finding opportunities early.
Calls and Puts and Options Scanners
One of the most popular scanners for options traders. These monitor contract activity and option flow data throughout the day. These help options traders see what tickers are attracting big money buyers and sellers.
When all of these scanners start to spit out the same ticker, you must know that a lot of activity can sometimes provide for the best trade resolutions.
There’s a vast amount of power you can accumulate by using the Pure Power Picks Trading Room. Check out our Trading Room to learn more about our Education Course where we cover more technical indicators, patterns, analysis & more! We hope we were able to enhance your trading knowledge. Please use the form below to get in contact with us!
Using Discord & Getting Started
To join the trading room, you will need to…
- Have a Discord account. If you don’t have one, you can create an account first.
- You will need an invite link from us. We provide this in the emails we sent when you signed up, if you haven’t signed up, you can do so here.
- You can also find it in your account dashboard if you’re already a member.
- Sign up for a premium membership now
- Here are detailed instructions on activating your premium membership
We hope this video blog on using the LIVE Trading Scanners in the Trading Room helps you get the most out of your membership. The more you learn, the more you earn! If you have any questions or comments about anything on this page, feel free to use the contact form below to get in touch with us.