- What's up? Tim Sykes, Millionaire
Mentor and Trainer here with a very special interview
with my top student, Tim Grittani, who has turned 1,500 now into over seven million dollars. It wasn't easy, it
didn't happen overnight. Learn from his journey. (electronic music) - Early in my career, one thing it took me a while
to start doing on my own that I think made a big difference was building my own watchlists. And the process of building the watchlist, I mean it's not an exact science. There's no exact, strict
guidelines I think any one person should follow because it goes back to the idea again
of everybody is different, everybody has different setups
that they're looking for. Now, for me, I was always looking
for plays with volatility. Plays trading unusual volume. That's what I was drawn to. And the easiest way
for me to find that was to use stock scanners. I think that they are an incredible tool and that any trader at
any level should probably be using form of stock scanner. My scans, again, I don't
get too complicated with it. I really do like to keep things simple. So, I'm not looking for
stocks that are doing anything wild or unusual. I just go ahead and run a
basic scan on percent gainers. That really is about all there is to it with a volume requirement. So, an example of what one of
my scans might look like is I tell the scanner to show
me all stocks that are up at least 10% on the day, have traded at least three
million dollars in volume and that is one filter
that some scanners have that others don't that I
think is really helpful because if you just try
to put in a share number for volume, like say show me
all stocks that are traded a million shares or more,
that are up 10% on the day the problem you run into
is that a million shares is very different in terms of liquidity for, say a five cent stock
verses a five dollar stock. So, I use the dollar because
I want to make sure that, you know, I'm getting a
certain amount of money flowing through the stock on the day. And that really translates better into the scan results showing me stocks that have the kind of volume I want. So, I'm looking at the percent gain and I'm looking at volume. And that is about all there is to it. So, where do I go from there? I take this list and I,
sometimes it returns five stocks, sometimes it returns 20 stocks,
it just depends on the day because the market is like that. But, I'll usually go through
most if not all of the list. And I just pull up daily
charts because the daily chart is something that I use to
make a lot of my decisions and form my big picture
opinions on whether something is a long or a short. So, I will just pull up the
daily chart of the ticker, see what today, you know, the crazy volume volatility day looks like
verses the previous year on the daily chart and if
I see a pattern that is familiar to me, something
that I like, something that I feel like I can take advantage
of going into the next day or maybe a couple days later, I add it to a watchlist which I keep in an Excel sheet every night. And if I don't like it I just skip it, I just move on to the next ticker. So, out of this, you
know, five to 20 tickers that show up per night on my scanner, I'm probably only selecting
about a quarter of them, you know, it's not like just
because it hit the scanner it's an automatic watch, the
pattern has to be there too on the daily chart. And once I have this spreadsheet
with all of the stocks listed that I do like the
pattern and I do like what the scanner is telling me,
then I type out a little plan going into the next day for it. So my plan will often
have a couple different stipulations where I will
say, okay if the stock gaps up, this is my plan for it. If the stock gaps down,
this is my play for it. And in the event where I
have a really long watchlist, you know, that winds up
being eight or more tickers or something like that, I
obviously have to prioritize because I'm not going to come
out into the next morning trying to trade eight different
stocks at the same time. That's, I mean I probably
will screw them all up instead of focusing on
one or two and really succeeding with those. So my prioritization really comes down to, which patterns do I like the best? The ones that I know I've
had the most success with. Which ones do I think
have the best volatility so the most potential for
profit if I trade it right? And then even to further
narrow it, you know, I usually make this
watchlist the night before so the next morning I see which
way it's gapping pre-market and I have my ideal ideas of, you know, I like a certain play
way better if it gaps up verses if it gaps down for example. So, if the stock is giving
me the gap move that I want that moves way up my list. - Hey, Tim Sykes, Millionaire
Mentor and Trader. Thank you for watching my videos. I hope that they help you. I wanna share everything that
I have learned over the years. You can check out more
videos right over there and also click subscribe so that
you can watch all of these videos, get that knowledge and become my next millionaire student.
