My Strat as a trader for 1 year, Advice/comments are appreciated


Hey, so I have been trading for about 1 year now. I started out trading crypto and then a few months later transitioned to trading stocks. I went through many phases, which included day trading, day trading penny stocks, swing trading big stocks, swing trading penny stocks, and now I have come to swing trading mid-cap stocks (1B+).

So for this strategy, I first started out by using trading view screener(or any basic screener) and looking for the largest daily losers that are 1B+ mkt cap. Then I would add these stocks to a watchlist, some days would range from 3 -7 stocks. Then I would monitor them over the next 4 or so days and would watch them consolidate.

Of those stocks that did consolidate during that time period, I would choose a few that had moved to the top of their box and were primed for a breakout. I would place a stop-buy order above the level of resistance and would buy with about half of my portfolio.

So I would run this screener every day and add a few to my watchlist and watch those that behaved like above. The problem with this is that many stocks have a false breakout and fall down incurring me with losses. I suppose I could place a stop sell order right under the ristsance turned support level to protect my position.

Now I have transitioned to using the screener once every week, and look for the biggest loser from 1B+ in the entire week.

I know this is very wordy, but any comments would be appreciated and how I can improve.

Also, does anyone know how I could backtest a strategy like this where it uses tickers from a screener and then identifies a resistance level?

Thanks


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