How to Use the Stock Hacker

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Video Transcript:

Hello, traders. Welcome to the Thinkorswim tutorial and the Six Module Scan tab. In this lesson, we are going to learn how to use the Stock Hacker on the Scan tab. And as you can see right here, we are on the Scan tab, and we have clicked on the Stock Hacker. And this is what the Stock Hacker looks like when there’s nothing going on. And well, you are going to be using the Stock Hacker to filter out stocks that are doing good all throughout the day.

Stockhacker tool thinkorswim platform
Remember that when you’re trading, stocks you want to trade the stocks that are really moving and the stocks that have a high percentage change during the day. And by adding filters here, those filters here, you are going to get such result, that with the stocks that hit your parameters. For example, the first parameter that we want is the price of the stock, and to define the price of the stock we are going to go and click on Ask. And let’s say that we only want to trade stocks between $5 and $20. We are going to put on a minimum of $5 and a maximum bid of $20. Then we really don’t want to be trading in liquid markets, so we want at least a minimum volume of 500,000 shares traded every single day with a maximum of 10 million shares. Ten million, I’m sorry.
This will bring out only the stocks that are really liquid, where you are going to get small spreads, and you are going to get really great fields. Now, we want a percent change, of course. We already know that we only want to see stocks between $5 and $20 that are trading a volume between 500,000 shares during the day to 10 million, and we want a minimum net percent change of 2% and a maximum of 10%. And we are going to scan for these stocks by clicking on the Scan button right here. Now, we’re just going to wait for the results of the scan, and as you can see we have found these stocks, okay? With a percent change that fits our criteria, a volume that fits our criteria, and a price that fits our criteria.
Now, this is great for you, stock traders, out there that don’t know which stocks are hot right now. Well, you can simply add a scan or create a scan to force if you like. And if this is a scan that you are going to be looking at very frequently, you can save it as a watch list by clicking on this right here. And let’s name it $5, $20 Stocks, okay? And if you save it, you can now create or add a watch list right here. And right here, we have the indexes watch list, but if you move forward, you can see that now this scan has been saved as a watch list. You can also…of course, this scan is going to save these stocks as a watch list. It’s not going to save the parameters.

StockHacker
If you want to scan for these kind of stocks on a daily basis, you can also save the scan by clicking here and clicking on Save Scan Query and also name it $5, $20 Stocks. So right here, for example, if you reset the values of this query…let’s just load another scan, daily futures, and let’s scan it. Right, we have just changed the parameters of our query. If you want to, at the beginning of the day or at the middle of the trading day, look for the stocks from $5 to $20 that are moving, you just go and click on this yellow arrow, and go to Personal, and click here on $5, $20 Stocks and scan. Yes, and as you can see you have saved the scan query as well as the watch list.
For you traders out there that like to add study filters to your scans, you can do so by clicking here on Add Study Filter. For example, let’s add a crossover study, and let’s add a recite crossover, all right? Well, we want to filter out any stocks that hasn’t had a bullish crossover on the other side, so we want only stocks that have crossed above the 30 level. So we scan them again, and we wait for the results. And right here, you can see that we have only one stock that…
Now, to delete a filter, you just click on this red cross, and this will delete the filter out of the scan query, and as you can see, we have, again, the same list as before. You can also choose to scan stocks by default scan queries on the Thinkorswim platform. For example, if you want to look at the biggest gainers of the day, you go to public and percent change gainers, and then click on Scan, and it’ll show you the biggest gainers for today. If you want to see the biggest losers for today, you go to public and then percent change losers, and click on Scan, and it’ll show you today’s biggest losers.
And again, you can see all ATFs, double long ATFs, double short ATFs. If you go to the next one, you can see which stocks have gapped down, have gapped up, which stocks have made a new yearly high, which is a very important thing to know about stocks. And you can see the ones that have made a new yearly high are these in this list. And well, you just have to play with this Stock Hacker in order for you to get the exact query for your trading.

Adam

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