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 AMEX stocks priced between $1 and $10, with volume at least 30 times greater than average for the time of day, trading at 30,000 volume minimum, and priced at least 4% higher than the closing price of the previous day.  We also have a secondary, simple scan searching for stocks up a minimum of 6 percent for the day, with all the stock picking service.

As the stocks have been alarmed we first Confirm that they are liquid enough to pay for stock picking service.

 Stock Picking Service:

1) Is There a significant price resistance level(s) overhead depending on the weekly or daily chart?

2) Are There any abrupt price crashes in the nearby past which could mean former buyers holding through these crashes will look to sell for a opportunity to break-even?

3) Is The gap up from the day big enough that present holders will likely be scrambling to sell to take profits?

4) Where would be the medium to long term Simple   If they're above the present cost, they may function as areas of strong selling.

1) Is There a significant degree of buying support immediately under the current price level based on the weekly or daily graph?

2) Is The cost action during the previous 3 to 12 months at a tight range with mild volume?

3) Is The current price at or about to be in a new long term high?

4) Is The present price breaking to medium term simple moving averages?

After qualifying a potential setup we Determine our commerce size by way of a mental calculation or using the'trade size' excel tool. We then prepare a One-Triggers-All entry arrangement.

The Buy order we enter is a 'Stop-Limit' purchase, with the stop price set at $0.01 higher than the maximum cost of their first 15 Minutes, and the Limit purchase price set at a few cents greater than the cost.

The supermarket purchase (our Stop-loss / Reduction limit order) part of the One-Triggers-All entry is set as a"Stop on Quote" order.  If hit, the order becomes a market sell order to exit the trade for a small loss.

You've identified levels of potential  Resistance during your red/green qualifying inspection of the installation. Your immediate concern, if your entry order has implemented, is to learn whether the purchase price is quickly rising into this level of probable resistance; if so, consider profits at this level or move your stop up only under this degree to secure your gains and remove the risk of loss.

Monitor the transaction using a 5 minute chart. As fresh Highs are put and pullbacks happen, kindly move your stop loss order up under these new highs and pullbacks to remove risk and lock in profits. Always be cautious of the resistance levels you have identified and act accordingly.

Examine the volume/price action Combination and hope what the volume and candles are revealing to you in regards to the probable movement of the price.

Maintain a trade diary of every trade  You enter, and run"post-game analysis", like you're watching game tapes. Consistently assessing your commerce performance is the best approach to improve.

You should take a screen shot of

 The weekly & daily chart for your commerce, and a screen shot of a full day's 5 minute chart on your trade. Note your entry price, your initial stop level, any subsequent moves at the stop, and your exit price.

Look at the stock picking support and Weekly graph, how did your red/green flag review hold up? Did you miss anything?  What would you get right?

Sometimes a stock's price movement  Will shake us from this trade and also leave us missing a large movement. Occasionally it will happen and it's unavoidable, other times it occurs because we browse the price action incorrect, or we did not locate proper immunity levels, etc..

Maintain a detailed trade diary and Focus on continuous improvement. Assess and improve, repeat.