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One thing I’m asked quite often is, “how do you find the setups you trade…do you run a screen for certain criteria?”

Although I’d like to reply that I do in fact have a neat little machine do the work for me, the fact of the matter is that only certain things can be programmed into a PC to locate for you.  Charting programs require that you define what it is you’re looking for, and only some of the patterns I trade fit into that mold.

Breakouts, for example, are easy to find using a charting program.  I can define a breakout as the highest high over ‘X’ number of days.  Breakdowns can also be quantified in a standardized way, specifying the lowest low in ‘X’ number of days.

But I trade a variety of chart patterns, and a lot of them require eyeballing.  A rounded top, for example, isn’t easily defined in mathematical terms, but you sure know one when you see it on a chart don’t you?  And the bull flags that we discussed in Episode 2 … they have a standardized appearance, but the actual criteria is going to vary from chart to chart.

So for me, it boils down to some good old fashioned hard work.  In this video I talk a little about how I do that.

(Be sure to click the full-screen option for best viewing.)

Hope you enjoy the show! Thanks for watching and subscribing, and feel free to post your ideas and comments down below.

Trade like a Bandit!

Jeff White
President, TheStockBandit, Inc.
www.TheStockBandit.com (Premium service)
www.TheStockBandit.net (Trading Blog)

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