your further screening now depends on your style of trading. if you're a fundamentals trader, you'll want to look at certain things. i suck at fundies so we won't even go there. if you're using technical analysis (t/a), you'll want to look for certain things. i have skill there but i already posted some good places to get that info- and they all do a better job than i could do here, though i may revisit the subject later.
that leaves quant. if you've chosen to be a quant trader, this post will help you. there are two kinds of quant trader- long-term, and short-term (like me). and in case you missed my earlier warning: sitting ducks get shot. that's why i'm short term, 1 or 2 days at most.
first, where do you find stocks to look at? well, places like nasdaq.com, otcbb.com, smallcapcenter.com, and stockcharts.com, as well as others, have listings of the day's winners/losers or gainers/losers, etc. currently, for quant, i use the smallcapcenter.com listings, for no particular reason except that i have a (free) "screening" account there.
if you google "screen stocks" in quotes, you'll find tons of free screening sites. a "screen" is a set of parameters you set to search for stocks that meet your criteria. you might choose to set a variety of t/a values for various indicators, such as "closed above open", "macd crossover", "rsi above 50", "volume above X value", etc. the system produces a list for you and then you look a little deeper to decide your trades, if any.
but for quant work, i don't much bother with screens (although screening with a t/a volatility indicator might be helpful). i just run the winners or losers and mainly look for my price range and good strong volume and volatility. if you're a long-term quant, you probably want to avoid volatility and just look for a healthy longterm trend. but as a short-term trader, i want high volatility because i want to get in there, make my money, and get the heck out!
if you google "screen stocks" in quotes, you'll find tons of free screening sites. a "screen" is a set of parameters you set to search for stocks that meet your criteria. you might choose to set a variety of t/a values for various indicators, such as "closed above open", "macd crossover", "rsi above 50", "volume above X value", etc. the system produces a list for you and then you look a little deeper to decide your trades, if any.
but for quant work, i don't much bother with screens (although screening with a t/a volatility indicator might be helpful). i just run the winners or losers and mainly look for my price range and good strong volume and volatility. if you're a long-term quant, you probably want to avoid volatility and just look for a healthy longterm trend. but as a short-term trader, i want high volatility because i want to get in there, make my money, and get the heck out!
so for a quant, it's really as simple as that. no setting up of screens and poring for hours over t/a charts. i just grab data for a few promising candidates and start quanting them. in an hour or so, i can get maybe three or four to answer strongly to a custom algorithm. and if the algo says any are ready to go, next day i may trade them. otherwise, they go in my reporting algo library and i keep them under watch. adding data to these each day and reading the resulting charts only takes a couple minutes per stock. when they get ripe, i'm ready to hit 'em.
if you want to learn quant: whattolearn.com . or go to amazon.com and buy a book- but be very selective; many quant books get you 10 feet deep in higher mathematics in the first three pages, therefore proving pretty useless to most people. quant just doesn't have to be that complicated. spreadsheet skills and common sense will do the job, which is why i've simplified quant at whattolearn, along with a simple video spreadsheet tutorial if that's all you want.
if you want to learn quant: whattolearn.com . or go to amazon.com and buy a book- but be very selective; many quant books get you 10 feet deep in higher mathematics in the first three pages, therefore proving pretty useless to most people. quant just doesn't have to be that complicated. spreadsheet skills and common sense will do the job, which is why i've simplified quant at whattolearn, along with a simple video spreadsheet tutorial if that's all you want.
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