Penny Stock Screener – A Free & Profitable System for Trading Penny Stocks
A Penny Stock Screener to Help You Trade Penny Stocks Profitably
Now that you have signed up for the EquityFeed Microcap Equities Package w/ Level 2 Quotes we are ready to create your first penny stock screener. Be sure to use their discounted Trial Version. If you don’t get Level 2 Quotes don’t even bother with trading penny stocks – as you won’t be successful.
Once you get logged in and the dashboard is launched. You need to build a “Streaming Filter” with the criteria below. This is my Bounce Filter.
During active trading hours run the filter. Generally, this scan is the most effective between 10:30 and 11:30am. A stock will pop on the filter, so now it’s time to do your due diligence. We already know most penny stocks are a scam, so we are only interested in flipping them for a quick profit. Your first job is to see if there was any negative news yesterday or today. If not, the stock may be down strictly on technicals or may be a failed newsletter pump, so it’s time to check a chart.
Penny Stock Screener Examples
Penny Stock Screener – Entries and Exits
If the stock is near support or was at support and broke down I will try to find an entry because the stock is now “oversold” and “cheap” and has a high probability of bouncing or coming back. I will begin by selecting a target and then scalping the highest bid by .0001, this is why you need Level 2 Quotes. The more people that are bidding, the more successful the strategy is. When I am filled I will 1) immediately put my shares back up for sale on the ask for a 10%-20% gain or 2) if the stock is down 40-50% I might hold an hour or two for a 50-100% gain! I will never hold overnight, and by buying in the morning it gives me plenty of time to exit the trade. My risk tolerance is generally 20% but I find that with proper entries it rarely becomes an issue. On average I win 7 trades, breakeven on 2 and lose on 1. After practicing, you’ll find this is one of the easiest ways to make money trading penny stocks.
Penny Stock Screener – News
With this penny stock screener you can literally make thousands of dollars in only a few minutes. This is momentum penny stock trading at its finest. EquityFeed steams its quotes faster than Ameritrade, Etrade, Zecco etc. It has better real time quotes them all of them. In fact most of these providers lag by about two to five seconds. This gives you a huge edge over the rest of the penny stock market.
Now what you are going to is open up the Equity Feed’s Penny Stock Screener and select the News Streamer. Set it to only show news for OTCBB and Pink Sheet penny stocks stocks. Next create an alert to make a sound every time there is a new press release.
Penny Stock Screener – FDA Approval
When you see on the streamer the news that Company $ABCD has received FDA Approval for its drug, get ready to make thousands of dollars. Most of the time these announcements come without warning, so you can get a massive surge in volume as other traders begin to hear about the stock. Most of the time people aren’t already loaded up, so there is very little dumping on these plays. This is not the time to be patient and wait for shares on the bid, I always hit the ask. This is probably the best way to make money trading penny stock – and this why you need to use a penny stock screener.