How To Build A Winning Watchlist With Tim Grittani

How To Build A Winning Watchlist With Tim Grittani
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    - What's up?
    Tim Sykes, Millionaire Mentor and Trainer here
    with a very special interview with my top student,
    Tim Grittani, who has turned 1,500 now
    into over seven million dollars.
    It wasn't easy, it didn't happen overnight.
    Learn from his journey.
    (electronic music)
    - Early in my career,
    one thing it took me a while to start doing on my own
    that I think made a big difference was
    building my own watchlists.
    And the process of building the watchlist,
    I mean it's not an exact science.
    There's no exact, strict guidelines I think
    any one person should follow because
    it goes back to the idea again of everybody is different,
    everybody has different setups that they're looking for.
    Now, for me, I was always looking for plays with volatility.
    Plays trading unusual volume.
    That's what I was drawn to.
    And the easiest way for me to find that was
    to use stock scanners.
    I think that they are an incredible tool
    and that any trader at any level should probably
    be using form of stock scanner.
    My scans, again, I don't get too complicated with it.
    I really do like to keep things simple.
    So, I'm not looking for stocks that are doing anything
    wild or unusual.
    I just go ahead and run a basic scan on percent gainers.
    That really is about all there is to it
    with a volume requirement.
    So, an example of what one of my scans might look like is
    I tell the scanner to show me all stocks that are
    up at least 10% on the day,
    have traded at least three million dollars in volume
    and that is one filter that some scanners have
    that others don't that I think is really helpful
    because if you just try to put in a share number
    for volume, like say show me all stocks that are traded
    a million shares or more, that are up 10% on the day
    the problem you run into is that a million shares is
    very different in terms of liquidity for,
    say a five cent stock verses a five dollar stock.
    So, I use the dollar because I want to make sure that,
    you know, I'm getting a certain amount of money
    flowing through the stock on the day.
    And that really translates better into the
    scan results showing me stocks that have
    the kind of volume I want.
    So, I'm looking at the percent gain and
    I'm looking at volume.
    And that is about all there is to it.
    So, where do I go from there?
    I take this list and I, sometimes it returns five stocks,
    sometimes it returns 20 stocks, it just depends on the day
    because the market is like that.
    But, I'll usually go through most if not all of the list.
    And I just pull up daily charts because the daily chart
    is something that I use to make a lot of my decisions
    and form my big picture opinions on whether something
    is a long or a short.
    So, I will just pull up the daily chart of the ticker,
    see what today, you know, the crazy volume
    volatility day looks like verses the previous year
    on the daily chart and if I see a pattern that is
    familiar to me, something that I like, something that
    I feel like I can take advantage of going into the next day
    or maybe a couple days later,
    I add it to a watchlist which I keep
    in an Excel sheet every night.
    And if I don't like it I just skip it,
    I just move on to the next ticker.
    So, out of this, you know, five to 20 tickers
    that show up per night on my scanner,
    I'm probably only selecting about a quarter of them,
    you know, it's not like just because it hit the scanner
    it's an automatic watch, the pattern has to be there too
    on the daily chart.
    And once I have this spreadsheet with all of the stocks
    listed that I do like the pattern and I do like what
    the scanner is telling me, then I type out a little plan
    going into the next day for it.
    So my plan will often have a couple different
    stipulations where I will say, okay if the stock gaps
    up, this is my plan for it.
    If the stock gaps down, this is my play for it.
    And in the event where I have a really long watchlist,
    you know, that winds up being eight or more tickers
    or something like that, I obviously have to prioritize
    because I'm not going to come out into the next morning
    trying to trade eight different stocks at the same time.
    That's, I mean I probably will screw them all up
    instead of focusing on one or two and really
    succeeding with those.
    So my prioritization really comes down to,
    which patterns do I like the best?
    The ones that I know I've had the most success with.
    Which ones do I think have the best volatility
    so the most potential for profit if I trade it right?
    And then even to further narrow it, you know,
    I usually make this watchlist the night before
    so the next morning I see which way it's gapping pre-market
    and I have my ideal ideas of, you know,
    I like a certain play way better if it gaps up
    verses if it gaps down for example.
    So, if the stock is giving me the gap move that I want
    that moves way up my list.
    - Hey, Tim Sykes, Millionaire Mentor and Trader.
    Thank you for watching my videos.
    I hope that they help you.
    I wanna share everything that I have learned over the years.
    You can check out more videos right over there and
    also click subscribe so that you can watch all of these
    videos, get that knowledge and become
    my next millionaire student.
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