What is a Stock Scanner (Screener)?

A stock scanner, a screener for stocks, what exactly does this even mean? I’m Clay, let me explain. (drum roll) I remember when I first got
involved in the markets, and trading, and investing, I’m like screener, a scanner, I don’t know if, like scanner when you
go to the grocery store, you scan something, ding. That’s what I thought of a scanner, maybe I’m an idiot, but that’s what I thought, and that’s my honest confession here. But in the world of the markets, what exactly is a screener or a scanner? First off, screeners, scanners,
they are one in the same. They are the exact same thing, so don’t get too hung up on that. They are, like I said,
literally the same thing. So what exactly are they though? How do they play a role in really just being more efficient? Making the best use of your time, because that’s what they are, they are a tool to make sure that you’re not wasting time, and wasting, just wasting and putting
efforts towards things that really should be a whole lot easier. So in the way the market works, and mainly just for stocks, there can be screeners for other things, but as far as the stock
market’s concerned, you have a trader investor, and they want to what? They want to make money, right? I don’t think that’s
anything revolutionary there, they want to make money, and they want to make money from stocks. But there’s no guarantee that they’re gonna make money from stocks, they need to do what? They need to, as far as
stocks are concerned, they need to be right. Meaning if you put a bunch
of money into bad stocks, and stocks that just
aren’t good decisions, you’re not gonna be making any money. You will lose money, so you need to be right in the sense of, let’s make some good decisions. So where do these good
decisions actually come from? And this is where things
can get very very tricky, because when it comes to
the world of stocks here, let’s see how good the camera guy Nate is, Nate can you look how many
stocks are publicly available? So how many stocks are publicly available? Right now I’m just gonna
put there are lots of them. I want to say over 4,000, but I don’t know if that
number’s right or not. But the camera guy is Googling
on his phone right now. But there are lots of
stocks, and remember, you need to be right. So you need to be able to find stocks that you believe make sense, and that you believe are
gonna make you right. 40,000. 40,000? No there’s no way that’s right. What exchange do you want? All stocks, I think it’s like 4,000, it’s definitely not 40,000 though. That would be insanity. There are 8,696 in the U.S. What’s your source there? Answers.com. Answers dot, that’s the worst. It’s a work in progress, I don’t think it’s 8,000 either. So point being, there are lots. And you want to make sure that you’re narrowing that
down to make right choices. And that’s where, this scanner is gonna come into play, because it’s gonna allow you
to look for certain stocks. Now what types of certain stocks, that’s where part of the
scanner comes into play, and maybe you’ve heard
of this, the settings. And this is actually the
golden goose right here. The settings are what’s gonna help dictate what sort of stocks is it gonna give you. A scanner in and of itself is good, it’s a step in the right direction, but if you don’t know what sort of settings to actually
be using for that scanner to bring you to those sorts of stocks where you are right, well then it’s kind of like a very quick way to make you lose your
money that much quicker. ‘Cause if you’re using a scanner and you have a bunch of bad settings, or you have a bunch of settings that don’t really make sense, or settings that are
leading you down pathways you don’t really wanna go. Well then all the scanners gonna do, like I said, is literally
increase the momentum at the rate at which you lose money. But if you can get these settings right, then you are also gonna be making lots of right decisions in terms of the stocks that you get. So a scanner, a screener, that’s really only the surface deep. The next layer down is those settings. But as far as settings, all that means is what exactly are you
telling the scanner to do. It’s pretty much the roadmap for how the scanner is behaving. And it’s basically a GPS. A GPS is great, if you
put in the right address. If you put in the wrong address, the GPS, the scanner’s still gonna work, it’s just not gonna get you
to where you wanna go, right? But you gotta put in the right address. You gotta put in the right setting, and that’s how it is for stocks. Well what is the right settings Clay? Great question, and it just depends on
what you’re trying to do. As a quick broad example, a trader scanner settings are gonna be much different than somebody that’s
looking to just invest. So an investors scanner settings, I mean this is just, you couldn’t get any two different between these two right there. So there is not necessarily any, I mean there is right and wrong settings, but as far as is there some
sort of universal settings that you use for every scanner? No, there’s not, because it’s always gonna
be a case by case basis. But the point is, you gotta be very careful
when it comes to the settings, because going back that GPS example, yeah the GPS is a great tool, a scanner is a great tool, but if you’re entering
in wrong information, or if you’re entering in wrong data, or not understanding how
to use the tool properly, then that tool is gonna be very limiting, and in fact, actually
do more harm than good. But certainly back to
more so the broader sense, a scanner is just a way
to pick out certain stocks out of the many many stocks that are available out there. We’ll go with the 4,000, I think there’s like 4,000 of ’em. 3100 according to Nasdaq.com. How many? 3100. So that’s probably on the NASDAQ? On the NYSE. Okay, so right around three
to four thousand out there. That’s a lot of stocks. So could you imagine if you had to go through each and every one of those one by one by one, that would take forever. So that’s what I mean by it’s allowing for time efficiency, and for you to not waste your time. Because you can just put
in those certain settings, and then it’s gonna spit out at you, it’s gonna give you those certain stocks that meet that criteria. So that’s what a scanner is. Make sure you keep in mind those settings. And remember, screener
is the same as a scanner. If you have any other questions
or anything like that, please let me know down below
if you enjoyed this video. Definitely hit that like button, and I’ll keep making these basic videos. Because I know a lot of people are new, and like I said, I
literally thought a scanner was a ding type thing, so no harm no foul, no
shame in being brand new and needing this stuff explained. But if you have any
other ideas, like I said, leave those below, hit that like button, and I’ll see you back for the next Clay
Explains video next week. First off, thanks so much for
watching the entire video. Real quick, before you go, I wanna invite you to a live webinar, web class, training,
workshop, online event, whatever you wanna call it. But it will be me live, revealing to you what I’ve discovered that has allowed me to transform myself from being an employee
to being my own boss. Including how I had only one losing day out of 73 days in total. I’m gonna cover three
keys that have helped me unlock profitable consistency
within the markets. The first key is super weird, but in a productive type of way. The second key is super awesome, because it quite literally is
wired into our DNA as humans, making it very easy to use. But in a cruel way, this becomes a pitfall for many traders. I’ll explain it all though, including how to avoid the
pitfall that it creates for some. And yeah, the third key, when you hear it, sounds way too good to be true, but it’s not, and I’ll
show you how it all works. Then at the end, I open it up for a question and answer session that is, again, totally live. Even if you can’t make the live session, please still sign up
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truly is a live event. If you have any questions, let me know, if not, I’ll be seeing you soon.

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