Thanks for the great software! I use it regularly to help me decide what to buy from my list and when to start thinking about selling a stock.
Just wondering how you obtain the first profit target on the reports page? Also, you regularly post a list of stocks that are ranked according to stock power ranking. Where do you get your original list from?
Hi,
The first profit target is equal to the risk. If you are buying a stock, the profit target is the profit amount equivalent to the risk ( Buy price - Stop loss sell order) undertaken.
Some traders sell half their stocks at the first profit target and then move the stop loss sell order to break even.
So, their trade will not end up being a loss. At the worst it will be a break even trade or will have a little profit.
To create a stock scan list, you can use many sources like stockcharts.com, barchart.com or look at Investor Business Daily newspaper Monday edition.
