Setup Information

Once you have added the Oz Scanner to your RealTick^® service, what you need to do is click favorites on the top menu bar, select market minder select TAL Chain Symbol List and scroll down.  You should see the Oz Scanner Chain Symbols  there.  Next, open a market minder window and drag and drop one of Oz Scanner Chain Symbols into a market minder window.  The results should keep updating during market hours.  You may use my customized dual-monitor RealTick^® pages which include the Oz Scanner click here to go to the download area.

Tips and Guidelines

Determine your trading style: Which technical setups are you most comfortable with? What is your risk management system? Which scans are tailored to your overall trading system and personality?

Determine your time frame: Are you looking for short-term or long-term opportunities? Are you looking for intraday trades exclusively?

Understand the philosophy behind the scans: Do you understand what each scan is searching for? Do you understand what the scanner is filtering out? Do you understand the strategies and risk management to be applied to each individual scan. Can you filter through the results and select the most promising ones?

Review the charts of all the stocks selected by the scan prior to taking a position: Does the stock selected by the scan have a chart that looks promising to you? How many charts look promising? How many stocks can you track at the same time?

Paper trade the strategies first: Are you profitable trading these strategies on paper? Do you feel confidant that you can have positive results if you have real money on the line? After tracking the results for several trading periods, how many of the "promising" stocks actually moved in profitable ways? Would any of the unprofitable stocks have caused you to lose more than you are willing to risk in the market?

After a while, you should begin to recognize repeated patterns in the behavior of stocks that a particular scan selects. It is very important to develop a sense for stocks that may repeat those patterns again in the future. Traders that can incorporate these strategies into their own trading systems will find my scans to be their most valuable stock trading tool. While risk and uncertainty can never be eliminated, taking the time to become familiar with the results of a particular scan will usually reduce both.

Keep in mind that you will get numerous candidates using each one of these scans. You must study the charts and see if a high probability trade can be made. In other words, not every result is a high probability candidate. You must remember all the money management lessons that were covered in the How to Take Money from Wall Street book. They represent the skeleton of this stock picking method. Study the following pages carefully. 

I will try to put all the pieces of the puzzle together, as I explain each one of the scans. I will include case studies of actual executed trades to support all my theories. This may cause some redundancy, and I apologize for that in advance. However, I want to be as thorough as possible, so you can all benefit from the greatest trading tool I have in my arsenal.