Question - "How do you create your watchlists?"

Hey everyone,
I got an email from a couple people who wanted to know how I do my scans at night. Well I am obviously a new trader with a small capital still. So I limit my stock picks with good volume and price between $0.50 to $10.00 stocks. This helps my make the most of my trades. I use two tools to create my watchlist, Finviz.com and Thinkorswim Platform. When you are a new trader, you want to keep your overhead costs at the very least. You don't want to pay for every gadget to help you find stocks with momentum. The scans I will show you today will do a good job with finding the stocks you want to put on your watchlist and it is free!

This first picture would be my main scan. This scan really helps me find what is moving on the day and what has great volume. I usually look at this scan every night to see if anything new is moving and also look at most of the stocks that have a price under $10. What I look for is great volume, price, and the ABCD pattern that is right out of the InvestorsLive DVD.

This second scan is my swing scan. This scan helps my find if there are any good swing trades out there that I can take advantage of. I usually look for stock that have been holding trend for a while and have a solid support and resistance area. Since I am a long biased trader, I like to buy these stocks when they are barely bouncing off the support line. I don't trade much from this scan but it still gives you a good idea on the scans that I look for. 

After finding a couple stocks that I am interested in, I go to my thinkorswim platform and pull up the chart and draw the resistance and support lines. I also put alerts on the stocks that are starting to gear up and perk. This will allow me to watch different stocks while the market is open and the platform will alert me when my stock is getting close to where I want to enter the trade.

This is basically my current routine of how I prepare for the next day and how I find the stocks I like to trade. I hope you guys enjoyed this one and please don't hesitate to ask me any questions you may have! I will try my best to answering the questions.

One more thing I would like to say. Patient is the key to this game. As soon as it's gone, you will start losing money. Wait for your setup and don't try to force a trade! Good luck in the markets the rest of the week!