I thought to rewrite and republish this old post of mine originally written on 30th May 2014. So, you want to Scan only trending stocks for day trading? Yes, you have come to the right place. The revolutionary Trend Blaster Zoom Scan is now open for all the members. Invented by the StockManiacs group, the Trend Blaster Trading System has since benefited thousands of investors, from mavericks to masters.
Why Trade Only Trending Stocks?
Trending stocks are actually the stocks with some movement. They are moving as they are in a strong trend. So pulling out profits from trending stocks is much easier than from rangebound stocks. In this article, I will show you how to find stocks with a strong trend in just a mouse click.
More About Trend Blaster
Trend Blaster Trading System is a safe & exceptional wealth-building trading system, rigorously tested with time, that will consistently draw unlimited cash from the stock or commodity markets, be it Bullish, Bearish or Flat market. It is a holistic, comprehensive system that works like clockwork & tells you exactly what to do objectively, without personal opinions or feelings.
Trend Blaster Trading System is a proprietary system that tracks the price movement of stocks, derivatives, and commodities during they break up or down, thus profiting in both buy and sell-short positions. It is highly proficient in intraday and short-term swing trading in stocks, commodities, Futures, Options, and Forex.
The History of Trend Blaster
We formulated the first Amibroker trading system in 2008 and vigorously back-tested, forward-tested, evaluated and refined the system. We simplified it for our personal use in 2008. Our company has grown through trading and investing using our formulated system.
Our company and our system have helped many beginners to intermediate or aggressive traders to achieve wealth in the stock & money market. We have developed comprehensive systems necessary for financial success in financial markets. The Trend Blaster Trading System is practiced widely in India, Middle East, and Europe.
How to Scan for the Best Script for Intraday Trading Today?
To make Trend Blaster Trading System more robust we have launched 2 new scans to scan stocks for day trading. The earlier buy/sell trading system scan with a volume filter is improved a lot. Scan to know which signal is most powerful with the blue volume filter. Lets now scan it on 5 minutes chart to know where we got a buy or sell signal. It’s easy, just go to analysis, select 1 recent bar(s) and select the TBTS trading system and click on explore.
Now, we got a list of stocks to buy or sell at that current moment. But only fools will buy or sell all of them. How to know which stock will do the best. Watch for the BLUE volume filter. Our first stock with a blue volume filter is ANDHRABANK. So let’s check its charts now.
Check the signal in ANDHRABANK at 11:30 AM, has given a real blast. More than 3% return intraday. If this is not a blast, then what is the definition of a blast?
How to Find Trending Stocks Through Scanning?
Now, what in the basket for the mechanical traders? Mechanical traders trade the same stock or commodity or index future every day. But, the best of the stock should not be traded in worst of the times. How to know which stock to trade mechanically for a day? Team StockManiacs has introduced a new scan called Trend Blaster Zoom Scan and it knows how to scan stocks for day trading who will perform. Put it to yes, and you will find the best stocks to trade mechanically (i.e. follow all signals blindly) for the day.
Please check the above screenshot carefully. First set Trend Blaster ZOOM SCAN to yes in the Analysis window. It will activate the ZOOM SCAN for the current analysis. From the SETTINGS choose 5 minutes as the Periodicity. Select 1 recent bar(s) and press EXPLORE. 1-2-3-ZOOM. You now get the stocks eligible to trade mechanically for the day. We got our first candidate ADANIENT in the Zoom Scan. Let’s check the performance of ADANIENT in the Trend Blaster Trading System mechanical signals. Let’s do backtesting for the particular day.
Amazing, it’s 15% odd returns in a single day. If you are still struggling with your trades do subscribe to Trend Blaster. You will get access to the two powerful scannings, Trend Blaster Volume Scan and the Trend Blaster Zoom Scan.
Check the Video of Zoom Scan to Scan Trending Stocks for Day Trading
How Zoom Scan Helps Trading Both the Trending Stocks And Rangebound Stocks?
You are also recommended to read Trend Blaster Trading System guide here. Our readers think that only Zoom Scan “PassedOK” scrips are good to trade. Wrong!! You can nicely trade “Failed” stocks as well. Today I will show you how to trade both trend and range.
On 8th July 2014, I have done a Zoom Scan around 09:30 in the morning. I got Nifty future as a zoom scan “PassedOK”. So I started following its chart.
I waited for a fresh signal in the Nifty future chart with the Trend Blaster Trading System and finally I got a sell signal around 14:50 and zoom 55 points profit by end of the day.
This is how I traded trend with zoom scan because Zoom Scan “PassedOK” scrips are in a strong trend and are super trending stocks. Now, I will show how I have traded range with the zoom scan. I got Silver future as “Failed”. So I started watching its chart too. But with some different indicators. I attached an overbought-oversold indicator, my favorite RSI. I used 7 period RSI with an overbought (OB) mark at 80 and oversold (OS) mark at 20. The quick strategy is to buy when OS and sell when OB with small SL and double target.
So, PassedOK or Failed, does not matter. You need to change the trading style according to the trend and range. To start your first ever Zoom Scan download the Amibroker AFL Library from here. So, now, it’s possible every time of the market. Whether you trade a trend day or you trade a choppy sideways market. Once you identify the correct market type, you can adjust your trading style to pull out profits for every type of market.
How to Use Zoom Scan in Intraday Trading Only the Trending Stocks?
Our rule, never risk more than 20% of your account on your total current trades (cumulative risk, remember, all of the trades you are in, can and at some time (!), will be losers).
Most traders I meet do not believe that loss can occur in the market if they start using an Amibroker system. In fact, many traders ask me what is the accuracy of your trading system? When we tell them the truth and refer them to the trade to trade reports already published in our site, they are offended as our system is not a 99% accurate system, that is widely advertised in the net by all those scam websites.
Proper Scanning Increases The Chance of Winning
However, the chance of winning can be increased a lot using a proper scanning method. It’s very important to know what to trade and also when to trade? We should not jump to trade just because the market is open, rather we should scan for the best possible stocks and trade them with a good trend following system in Amibroker.
Here comes the power of the zoom scan that is now an integral part of Trend Blaster Trading System for Amibroker. On a particular day (3rd September 2014) we tested with Trend Blaster Zoom Scan. We found 4 scrips zoom scan passed and we applied Trend Blaster Trading System blindly on them.
Now, not every scrip is a winner. We got 35 points profit in Nifty future. On the other hand, we got 60 points loss in 2 trades in Bank Nifty future.
On the other hand, we got 4 points profit in Reliance and 103 points profit in Infy. So if we calculate all 4 scrips in one day we got 82 points net profit in all trades.
So, 35 – 60 + 4 + 103 = 82. This is the power of diversification. Diversification will help you in managing your risk and maximizing your profits in intraday trading in the Indian stock market.
How to Find Super Trending Stocks Even in Volatile Markets?
Days like budget day remains highly volatile and difficult to trade. So there should be specific plans to trade the budget day. Here is how we traded Budget Day 2014 using the zoom scan. Yes, we changed our strategies. Of course, the budget day is a special day, so we should not trade this day like the other days.
We started the day at 10 AM with our favorite Zoom Scan. Hence, we had done a complete zoom scan of our scrips.
Next, we concentrated on mainly PassedOK scrips and according to volatility and liquidity and have chosen 3 scrips out of the list. My favorite is DENABANK in the cash market and INFY future and MCDOWELL-N future in the futures market. Our strategy was to watch these scrips till 12:30 and after the speech is almost over and market completes its whipsaws trade a more safe and tradable signal.
As in the budget day, the market is likely to swing both sides we decided to trade in the stop and reverse mode. Our last strategy was, if our first trade becomes the winner, we will avoid all other signals in that scrip for that day.
The Implementation of Trading on a Volatile Market
As per the plan, we waited till 12:30. We got our first signal in DENABANK at 12:40. A buy signal at 73.90 made a high of 79.10, all targets are done.
We got the second signal in MCDOWELL-N futures. A buy signal at 2307, zoomed to 2365.05, 2 targets achieved. And we got the last signal in INFY futures. A short signal at 13:45 at 3343, crashed to 3317.65 when we foreclosed the trade as it was already 15:10.
Do you want to make similar profits in volatile markets? Do you want to know more about Zoom Scan and find trending stocks? Join the team of successful Zoom Scanners here. Yes, even after exploring your market with Zoom Scan and finding the suitable scrip to trade with Zoom Scan, you can trade it with your own trend following trading system.