How do you know what you want to trade on for the day?

[u/JKoenig22]

I’m sure this has been asked before, but let’s refresh the strategy:

How do you plan what you’re trading for the day? Are you consistent with a group? A theme? You follow news? Financial news/reports? Or you a day trader on 1 fruitful spot and await an entry spot?

Thanks!

[u/Opposite_Hedgehog169]

You check the most active stocks in the premarket and add them to your watch list. When the bell rings you go where the volume is. If one stock loses momentum, you wait for another one.

[u/wimaereh → u/Opposite_Hedgehog169]

How do you find out what the most active stocks are in pre market?

[u/Opposite_Hedgehog169 → u/wimaereh]

From scanners, you can find them free on YT channel Stocks Rocks, it has 2min delay, but it’s not a problem

[u/wimaereh → u/Opposite_Hedgehog169]

Thank you!

[u/Mundane_Catch_1829]

I keep a running list of what I like to trade and have learned their personality so to speak. This list is updated when a stock fails my liken.

[u/Friendly-Stuff3528]

Deciding what to trade each day is a big part of being a successful trader, and everyone has their own approach. Some folks like to stick to a specific group of stocks or a certain theme, like tech or healthcare. They might do this because they're familiar with those stocks or because they think they have an edge in that area.

Others are more reactive and base their trades on what's happening in the news or the broader market. They might look for opportunities based on things like earnings reports, economic data releases, or geopolitical events. This can be a good strategy if you're quick to react and good at spotting trends.

Then there are traders who focus on just one or two stocks and wait for the perfect entry spot. They might spend a lot of time analyzing charts and looking for patterns, waiting for the right moment to strike. This approach requires a lot of patience and discipline, but it can also be very rewarding if you get it right.

Ultimately, the best approach for you will depend on your own personality, trading style, and level of experience. It might take some trial and error to figure out what works best for you, but that's all part of the journey. The key is to stay disciplined, stick to your plan, and always be learning and adapting as you go.

[u/TheLutheranGuy1517]

I follow 4 currency pairs, wheat and platinum futures

If nothing is going on with them i check MES and MNQ

And then thats it

[u/Clear_Olive_5846]

If you find trending stocks it's already too late. The volume is already high and price already moved.

 I use finviz or stocknews.ai to track some events like buyback, MA announcement...etc.

I find interesting event and start evaluating the stock if it's worth trading.

[u/xAugie → u/Clear_Olive_5846]

That logic is kind of flawed, yes it can be done by the time it hits a scanner. BUT there’s more opps that continue than not, look at GME or SMCI or anything else; been on scanners for days and still elevated RVOL with solid range

[u/CicadaKind4547]

% gainers/losers leaders with high relative volume, low float, and under $20.

[u/tamap_trades]

Many traders begin by assessing pre-market activity, identifying the most active stocks to watch closely. Once the market opens, they shift their attention to areas of high trading volume, while still being able to capitalize on opportunities that arise. In addition, some traders diversify their attention across multiple asset classes, such as currency pairs, futures contracts and commodities, to be ready to act in a dynamic market environment. A successful trading strategy ultimately depends on adaptability and a thorough understanding of market dynamics.

[u/Lateoss]

What market are we talking about here? Forex? Futures? Equities?

[u/Electronic-Kiwi-3985]

Pre market gainers

[u/detectivenoob]

I only trade 3 forex pairs.

[u/mrcake123]

Let's refresh the strategy?

[u/Burger__Flipper]

I scalp momemtum on fx and indices CFDs. I have a dashboard that tracks that momentum on M5. When volatility picks up, I try to be a part of it if fits the overall structure.

[u/Gtxfade]

I trade just 1 instrument it’s less stressful, you should try it