Hot Stocks  | MG Select  | Opening Range & Gaps  | User Group | Strategies | Tour
 


February 2003 No. 1

www.MarketGauge.com

After spending a day with "Hot Scans" why would ANYONE want to bother with all that complicated and time consuming stuff ever again? Man, it's amazing! The biggest single biggest problem I've had about trading stocks is trying to be at the right place at the right time, i.e. being on a stock at the exact moment it begins to move. With over 7000 stocks it would seem easy to locate ONE like that. As you well know, it's not, for all sorts of reasons. We're usually too late to the party or get creamed trying to anticipate a move that never happens. The net result is a LOT of missed trades, frustration, and lost income. Trading is a business AND it's supposed to be FUN!! Yeah, winning is a cool game! This tool allows us to give up the 1-2 hours of nightly research trying to find stocks to trade the next day. A truly insane activity! I mean how can one predict how the market will be the next day?
Richard L., New York City

First day using HotScans and I think I love it. Did fine in the morning with about $400+.
G.W.

I looked at the HotScans web page and my first reaction was "where have you been all my (trading) life?” Just subscribed today and I was going to wait for a month to try out HotScans and let you know what I thought of it. I don't have to wait that long though. Right off the bat, I got IMCL on a rally now and picked up 20 cents. And then I looked for a short a got SBC and took 15 cents or so off that. Then it refreshed and I got BLS and took another 20 cents of that on a slide down. Thank you, thank you, thank you. In 15-20 minutes of trading (1:00-1:20 at that), I took a profit of about $750.
Steve B.

I subscribed to Hot Scans and I love it!!!! I have gotten screamers all morning.
J.B., Seattle Washington

When you login to the HotScans site and realize what your looking at, you'll fall of your chair! I am going to say this again, thank you HotScans team for knowing what a day trader wants!
M.H. - Los Angeles, California

HotScans could very well increase your proficiency enough to add hundreds of thousands a year to your income. In conjunction with Wizetrade you have probably the most powerful tools a day trader could ever want. I tried it for one day and was overwhelmed about how it worked. Used the way Mel Raiman outlines in his book it is awesome.
Fastman

Thanks to. . . HotScans I shorted NPSP for a 5.6% profit this week. I wouldn't have found it without HotScans.
Dave

I think finally, after a lot of hard work & trial & error, I have a solid, consistent, game plan for being profitable in the market everyday. HotScans is the foundation for that.
Jeff F., Charlotte, NC

This HotScans is AMAZING! This is exactly what I have been trying to do. It has gone me 5 better, by relating scans on an "on-demand basis”, set up for any parameters that you may want. EVERY stock that pops up with the selected parameters, when loaded into WizeTrade shows an EARLY cross or bounce. In addition, it appears to show you the strength of the move and I bet it will also show you duration (with practice). . . I can almost guarantee you that this is the best screener that has come along— maybe EVER!
M., St. Petersburg, Florida

Today was my first day using Market Gauge's HotScans and was I impressed. It gave me DYN at the open for about 12 pennies (10,000 shares). Needless to say, it paid for itself with about $1,176.00 to spare! The scans I ran a few minutes ago can only make me yell WOW. My first trade using HotScans was a dead cat bounce play on INVN and I am up $600 in about 30 minutes. Not bad and pretty cool. This makes finding stocks sooo much easier!! Thanks!
Frank

HotScans is a stock screening application, not a trading platform. DataView, LLC assumes no responsibility or liability for decisions made by a trader to enter or leave a trade. The intent of this software is only to identify stocks that meet the criteria set forth in the various filters by the user.
Copyright © 2003 by DataView, LLC ALL RIGHTS RESERVED

Contact Us:
Technical Support
888 241-3060 ext. 111
geoff@marketgauge.com

Sales and Customer Service
888 241-3060 ext. 107
dennis@marketgauge.com

DataView, LLC Releases HotScans
For day traders around the world, February 12th was a momentus day. Keith Schneider, Founder and President of DataView, LLC said: "The introduction of HotScans marks a milestone in day-trading scanning software—the Power of HotScans is its unique Multiple Intra-day Time Analysis System (MITASTM). This allows users to detect critical intra-day shifts in momentum with precision. DataView's unique price and volume gauges provide visual comparisons for up to three discreet time frames.
The engine driving HotScans is the revolutionary software recently developed for MarketGauge®, a leading supplier of market intelligence to the professional trading community including a number of institutional and professional services clients such as Fidelity Institutional Brokerage, Barron's, Townsend Analytics' RealTick, Banc of America Securities, and MoneyLine/Telerate.
The MarketGauge® software took more than five years to develop and represents transformational technology. The decision to apply this technology to the development of an intra-day scanner is a significant development for professional and retail day traders who, until the advent of HotScans, were limited in their ability to find the most significant intra-day momentum changes in the stock market.
A team of beta testers worked with programmers from DataView before HotScans was released earlier this month. The beta testers were all power traders and came from the professional and retail day-trading communities. Daily conference calls between the beta testers and software designers coordinated frequent modifications to the software. HotScans was released only when the beta testers agreed that the software was consistently achieving the desire goals.
HotScans works by finding changes in both price movement and changes in relative volume in discreet time frames throughout the trading day. These changes are detected by manually adjusting three sets of time-frame filters or by selecting from a range of preset day-trading strategies. The concept of marrying price movement with relative volume, (versus volume spikes), is one that distinguishes this software.

Upgrades
The tremendous success of the recent release of HotScans has encouraged lots of you to write in with questions, comments, rumors, and suggestions. Thank you for all the feedback!
The rumor is true, there is a big new release in our immediate future, but this upgrade is not it. This upgrade is a result of much of the early feedback that HotScans has received. It implements a few changes to make your trading easier.
You do not have to do anything to get the upgrade. We changed the website so you will be looking at the new version the next time you visit HotScans. The upgrades do not change the look and feel of HotScans, but they do improve some of the functionality that you are probably using.

Here is a list of the upgrades and changes:

  1. When you select a predefined strategy from the Trading Strategies page the resulting table will have a title that identifies it as a strategy. This title will follow the table even if you Pop it out or alter the filters.

  2. You can now create your own title for the table. Next to the title of every table you will see a link "Edit Title.” This will enable you to change the title of that table so you can change your filters on that table and rename the table accordingly.

  3. The basic filters will now apply to every scan, including the Strategies! This means that if you set your Refresh rate to one minute and save it as your default it will not change when you select another strategy. Of course, the same logic also applies to all the other basic settings—set them once and they will remain set as you wish.

Trade Multiple Strategies/The Power of the Pop Out

WizeTradeTM is a product of Global Tec Solutions,
LLP which has not endorsed HotScans.
One of the great powers of HotScans is your ability to customize a trading strategy using your favorite settings, and then create a pop out which can be placed on your trading platform. Most power traders have several different pop outs on their trading screen as they monitor different strategies throughout the trading day. Traders with two or more monitors may wish to watch a range of favorite trades evolve throughout the day. The is no limit on the number of pop outs that can be used. One trader who only has one monitor has already reported a system for using pop outs which he finds successful. He sets up three or four pop outs over his Wizetrade screen. He then clicks on the Wizetrade screen which make the pop outs disappear. Then, whenever he needs a new trade, he simply minimizes Wizetrade to the toolbar and is looking at a page of his favorite strategies. When he finds a potential trade, he then clicks the Wizetrade icon on the toolbar. "It's the next best thing to having two monitors.”

Power Trading Tips Using HotScans

  • If you are just starting with HotScans, the first thing you should do is take the tour http://scans.marketgauge.com/Tour/. This is a powerful program and can find almost any imaginable trade, but it is important that you understand how it works. It is this power to find any type of trade that confuses new traders. You must know what it is that you want to find so that you can ask for it using either the strategy presets, the manual filters, or a combination of both.

  • If you are an active day trader, your refresh rate should be set to one minute. When a new trade populates, wait until the screen goes through it's one-minute refresh. If that stock is still there, you may have a winner—if it is gone, it may have been a head fake.

  • In either the manual or preset modes, you have the ability to tweak the filters. If you wish to capture the big moves, then set the relative volume advanced filters higher for the scan period. Anything more than 400% is high. Some traders ask for 800% or more. A lot has to do with how heavily the markets are trading. The past few days have seen very light volumes. If too many trades are showing up, raise your relative volume parameters.

  • If you identify a stock that is driving the market, as in in play or in gear, leave it on your trading screen. Sure, it will consolidate at some point, but it will probably give one or more good trades during the day.

  • Many of the traders are setting the primary scan period for five minutes with great success.

  • This past Monday morning, OEI kept showing up with huge relative volume. On the Wizetade charts, it looked terrible—then it took off for a huge move. This was one of the very few great longs on Monday, but HotScans got you in on the bottom floor. Point: HotScans will often get you to the trade before the stock begins to move. On the other hand, you may find that a stock has already made a move. In this instance, the stock might have been showing up on HotScans for quite a while, that's why you have the previous period as a reference. Using the previous period, you will always know what you will find before loading a stock into your charting program. If a stock has already moved, does this mean you should take it off the board? Not necessarily, if it is in play, it will probably give you many more great trades throughout the day.

  • Finally, all traders have entry and exit procedures. If you happen to use Wizetrade, then you should read Mel Raiman's Guide to Effective Day Trading. In this publication, he outlines very specific trading styles, direction indicators, trading lights and charts to use for triggers. For example, it you have an overly extended 10-minute chart, you might wait for a recycle and fresh cross on a shorter chart, perhaps a 2-minute or 3-minute chart. In this instance, you know that you are probably entering into a quick scalp. On the other hand, if you catch a fresh 10, 20, or 30-minute cross, you might be in store for a much longer trade. If you happen to find a very strong stock an hour after the open and it has already made a huge move, it might be worthwhile to keep the stock in front of you and wait for a consolidation. Again, those few stocks that are driving the market will make more big moves during the day.

    The key to successful day trading is quickly identifying the stocks that are driving the market, and trading these stocks throughout the day, using the entry and exit signals that you have mastered for use with your trading platform.






    • Help  |  Return to Top  |  Email/Contact Us
    Logout  |  About  |  User Group  |  Newsletters  |  Partners
    MarketGauge® by DataView, LLC
    All times are EST. Intraday data provided by S&P Comstock.
    All data in MarketGauge is subject to the DataView, LLC User Agreement.
    Market sector and industry group classifications provided by Multex.com/Market Guide.
    MarketGauge is a Registered Service Mark of DataView, LLC.
    Patent Pending. Copyright 1999 - 2010 DataView LLC. All Rights Reserved.
    Privacy Statement