Estocastica outlines how he scans for gaps in "Comments" on the last post.
note - make sure you visit his blog
I have actually simplified my scanning process, and I now only use Trade-Ideas. Here are the details of what I do:
I configure two "Alert Windows" - one window for stocks below $50, and one window for stocks above $50. For the below $50 window, I set the parameters to find Gaps Up and Gaps Down of 2% minimum, and Average Daily Volume of 100,000 minimum. For the above $50 window, I set the parameters to find Gaps Up and Gaps Down of 1% minimum, and Average Daily Volume of 100,000 minimum.
At 9:45 EST (15 minutes after the market opens), I open the "Alert Windows" and click the "History" link. Trade-Ideas then lists all of the stocks that meet that criteria for the morning. I do an export to Excel, and plug the stocks into my watchlist; it is fast and easy.
I have to stress, I am using Trade-Ideas in a VERY limited way. I am probably using 1/10 of 1% of the functionality their software encompasses. I said earlier this year:
"[Trade-Ideas has] a quality product, and I have had fun experimenting with it. The bottom-line is that you can find results for just about any parameters you can imagine using their software."
I encourage you guys to try it out and see if it is a fit for you. Sign-up via this link and see what you think.
And, if you want to see all of the other sources available - free and pay - see my last "How to find gaps" post.
edit - check out the "Comments" on this post for more details and information
trader-x, stocks, gaps, trade ideas
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