Hi guys,

Does anyone here use tc2k for intraday scanning to find hot setups during the market day? If you could share any of the scans you use I would really appreciate it!

thank you in advance!

Anyone?

I guess this depends on what you would consider "hot setups".  

I'm always looking for what's moving on volume, with a big range, up or down -- and look for coninuation or reversal patterns patterns to emerge on 5 and 15 min charts -- nothing shorter than that.

Like this breakout in BODY on the 15min --

I trade with price and volume only so they're very easy to scan for.  I trade daily charts for the most part -- but they're all the same patterns.

I find that counter trend trades work best intraday -- just my preference I guess -- but they can snap back fast so you have to be quick.  

Here's where the move above took place on the daily chart.

It came onto my radar after the huge volume spike in March -- and I kept it in my watchlist waiting for the intraday chart to develop.

Mostly I like to trade the same patterns on daily charts because you have a chance for a much bigger move -- but obviously they also take longer to develop.

Like this chart of MPET -- not a trade I caught but for example purposes.  

Same pattern -- much different return.  To be fair, I only catch like 2-3 of these a year -- but they are worth the time it takes to find them.

To find big movers on the day, i watch for anything up or down over 10% at the open.

o>c1*1.10 or

o<c1*.90

Then I look for emerginging intraday patterns.  If nothing shows up that day I'll add the ones I like into a watchlist to look for over the next few days.

Like I said, very simple.  Indicators require too much analysis for intraday decisions -- in my opinion.

David John Hall

Thanks David for a great reply, much appreciated!