How to Use Stock Scanners Effectively (Without Overtrading)
Scanners Find Candidates, Not Commands
An alert is the start of research, not a buy signal. Treat every hit as a hypothesis to confirm or reject.
Filter Aggressively
Start broad, then narrow:
1. Liquidity minimum (average volume, spread) 2. Price band you can size properly 3. Setup type (breakout, pullback, etc.) 4. Conviction score threshold
DumpMoneyRises ranks opportunities across engines so you review top decile, not raw noise.
The 10-Minute Drill Per Symbol
- Chart: trend, support/resistance, relative strength vs sector
- Catalyst: news, earnings, sector theme
- Risk: where thesis fails; R-multiple if right
Batch Alerts
Review scans on a schedule (open, mid-day, close) instead of reacting to every ping. Notification fatigue causes impulsive trades.
Track Scanner Hit Rate
Note which filters produced winners over 20+ samples. Tune thresholds based on data, not excitement.
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