Opportunities Every Day - SNDA

Beware of the negative psychology trap. Great traders (like Jamie and Trader-X) demonstrate that there are good opportunities everyday - you just have to remain focused and find a few of them (at least one).

What are the most common reasons that traders can not find a good setup: 1) they are already in a weak/mediocre trade, 2) they are not clear/certain about what distinguishes a GOOD/GREAT setup, 3) they don't have the tools (resources, scanners, etc.) to locate good setups from all the noise, 4) they don't have the patience to wait for a good setup.

The screen shot below includes a snippet of my long scanner from this morning. Of the 10 or so stocks that were hitting the scanner (tends to repeat every 10 mins), several produced good setups sometime during the day.

SNDA was hitting the scanner all morning and eventually setup a nice range contraction at the 38% retracement of the AM range.