In this article we are going to discuss how to find symbols to trade in a small account. If you have not read Part 1 and Part 2, at least read Part 1 first. One of the most common questions I get from new traders trading a small account is how do I find symbols to trade and which ones to trade. In this article we are going to discuss ways to find symbols. In Part 4 we will discuss some of the criteria to use in selecting symbols to trade.
When trading a small account, it is very difficult to trade the very well-known momentum stocks like PCLN, GOOGL, AZO and TSLA. They are just too pricey. So you need to find good quality stocks and ETF’s in the 20 – 50 dollar range. Below we are going to discuss several ways to do that.
I think it is best to have a list of symbols and go through that list every day. Then you get a feel for how each symbol moves over time. One way to start building a list is, when you see a symbol mentioned, whether it be in the newspaper, TV, the Simpler Trading Room or daily videos, write it down. Then go take a look at it on the charts. If it looks good to you then add it to the list of symbols to look at daily.
Another way to find symbols is to use a free service that I have used for years. Click on www.finviz.com and you will see “Screener” in the toolbar across the top of the page.
Click on “Screener”, then click on ”All” in the “Filter” toolbar at the top of the page. See example below.
Another free resource to find ETF’s is www.morningstar.com. Register for a free account. Then you can search for stocks, bonds, mutual funds, ETF’s and more. I’ll show you the ETF’s. You can do the same for the other trading products. Click on “ETF’s” in the toolbar at the top of the page. Then click “ETF Screener”. See example below.
Now click on any column to sort. See example below.
I hope this was helpful.
Learn more from Tucker Stipe and get tips for trading a small account and more at Simpler Stocks.