How does one use Stockopedia to assist in day trading?I am new subscriber and would appreciate help.
what do you want it to do for you, is another way of looking at this..?
About the Author
Abe
9 comments
GrahamF
Perhaps you could use it to screen for stocks which have the characteristics of companies with share prices that facilitate short term trades.
So, perhaps one criteria might be that you want volatility. In that case you could use the Stockopedia risk ratings, as they are based on volatility, and screen for stocks that fall into the designation ‘Highly Speculative’.
Another perhaps might be stocks with extreme Value Rank, i. e. very high or very low, as being more likely to change price soon in one direction or the other. Perhaps there are others.
So, perhaps this could narrow down the stocks that you want to watch but I don’t see how it could help you time a trade if you are just looking at minute by minute movements.
Rusty2
Have a look at Wey Education (LON:WEY) that is up and down every other day it seems. They was a post recently about volatile shares you may want to read. So you can screen for most volatile shares.
James RH
Herbie,
I'm not sure Wey Education (LON:WEY) is one for day trading given the spread.
OP - as others have mentioned, screen for volatility and very low bps (spread) to give you a watch list of ideas.
Other than that, as Graham alluded to, Stockopedia probably isn't a source for day trading.
Rusty2
Yes the indicated spread on Wey Education (LON:WEY) is quite high, one reason I did not buy but I think you will find it's only about 3% at the moment on a normal trade, share price has been going up and down around 7%-10%, so still enough profit for a day trader. I only mentioned it as it is the most volatile share I'm aware of.
jonesj
The general direction of stock ranks, screens etc on Stockopedia is to pick what works. As most day traders lose money due to costs, I suspect it is not a Stockopedia speciality.
gus 1065
While I agree that Stocko is not really designed for day trading specific stocks, I think it can be used to at least make sure you’re fishing in the right pond.
If you are specifically looking to trade intra day (rather than short term buy and sell over a few days) you probably need to identify stocks which are pretty volatile (betas substantially over 1 and risk ratings that are “speculative” or “highly speculative”) and have narrow trading Spreads to maximise your potential upside vs. trading costs. Stocko can screen for both. You may also want to look for stocks with decent Momentum (go with the trend etc.) and possibly look for stocks with a decent record of positive earnings surprises that are about to issue a trading update (again, all can be screened via Stocko).
One idea might be to start with a copy of one of the guru screens such as “Earnings Surprise Screen” then add Spread and Volatility parameters and then focus on companies about to report (you can either use Stocko or something like Investegate to see what is coming up) to find some candidates to research further. This could give you a few ideas for stocks that will be cheap to trade and hopefully likely to move sharply upwards within a short time frame. As ever though, no such thing as a free lunch so important to fully research specific stocks before placing your bets.
Good luck.
Gus.
Maddox
Hi Abe,
May I ask why you are looking to day-trade? Most of us using Stockopedia aren't attempting to day trade, and for very good reasons, it's a very difficult art and most who try it tend to fail.
Regards, Maddox
