I had an interesting day today- As an after hours struggling swing trader that only makes 15-20 trades a month-last year+ - I recently started looking at ways to try to improve my stock selection- besides the technicals, I wanted to look into adding some fundamental criteria, so I'd do a stockcharts scan and then tried to use a fundamental 'qualifier' by checking the charts with a msn screener for a decent/improving fundamental rating- say an 8 or above.
Well, since I have limited time in the pm, and no computor time/access during trading hours, I recently sought to improve my time by looking at different approaches-
Two things happened today:
A friend has sent me his copy of Metastock 8.0- it arrived today...he hasn't used it, and I am not very "programming savvy" -actually I'm totally ignorant and somewhat intimidated by the process. and I caught the Review by Rickshaw on the meta program and sent him a pm-hope he can shed some light-on some of the attributes, as he is testing the new offer....I hope to learn a lot more about such programs.
I'm a small account -after hours- swingtrader that has essentially struggled to learn to trade in the past year + I would like to find a decent program that doesn't cost an arm and a leg that will allow for basic fundamental criteria screens mixed with the technicals. I want to find a program that can apply both fundamental criteria, sector analysis (improving/declining/) and technical analysis along with some candlestick charting programs. Obviously i'm looking only for EOD criteria and don't require real time quotes. (I use IB )
The other interesting part of my day, is that I spent this AM at a meeting of a brand new group of Investools initiates- This had been presented to me as a program that incorporated both fundamental and technical info. While I had not seen the investools program before, it essentially screens stocks and includes an approach that looks at fundamental criteria, sector strength, TA on stochastics, Macd, and RSI (you can add indicators), and then the program continues on to Options trading etc. There are multiple levels- To "acquire a PHD" costs between 20k-23k That's the pinnacle and gives a lot of personal coaching time. I believe it also includes Options training, and the programm is automated to where it limits position sizing and Risk automatically.
What I found to be amazing, is that virtually all of the program's participants had been in the program less than 60 days- None had made any real trades- and mosty had put out more than 9k-20k based on a 2 day "seminar' they had attended. The base course was 3K-it gave you 5 DVD's , access to the on line site for 6 months ($50 per month), and a short basic training- opportunity to upsell- weekend program.
The basic program includes a "buy" signal when the stochastic, MACD, and RSI are properly aligned and the sector group strength is improving- Similar to the IBD screener I expect.
The other thing almost all of these folks had in common was they were professionals, had little or no prior trading experience-
The woman that sat next to me was 55+ (my age) , had signed up for the "masters" program, over 15K, and as she left she expressed how she needed to be able to prove the cost of the course to her retired husband- She was trying to find a way to not have to work until she was 70+
The program seems to put all of the necessary criteria at your fingertips- fundamentals and technicals- rolled into one package=-along with guidelines for position sizing and risk. What truly "bothered" me was the level of inexperience of the group. It seemed that somebody showed them an intro to TA 101 and they were sucked in.
HOWEVER-One of the 2 month participants -Has had great paper trading success with OPTIONS.
The self-serving part of this post is that I am seeking additional information on metastock and/or other screening programs that are capable of including fundamental info with some robust technical signals. On the cheap of course-
Thanks in advance, SD
Well, since I have limited time in the pm, and no computor time/access during trading hours, I recently sought to improve my time by looking at different approaches-
Two things happened today:
A friend has sent me his copy of Metastock 8.0- it arrived today...he hasn't used it, and I am not very "programming savvy" -actually I'm totally ignorant and somewhat intimidated by the process. and I caught the Review by Rickshaw on the meta program and sent him a pm-hope he can shed some light-on some of the attributes, as he is testing the new offer....I hope to learn a lot more about such programs.
I'm a small account -after hours- swingtrader that has essentially struggled to learn to trade in the past year + I would like to find a decent program that doesn't cost an arm and a leg that will allow for basic fundamental criteria screens mixed with the technicals. I want to find a program that can apply both fundamental criteria, sector analysis (improving/declining/) and technical analysis along with some candlestick charting programs. Obviously i'm looking only for EOD criteria and don't require real time quotes. (I use IB )
The other interesting part of my day, is that I spent this AM at a meeting of a brand new group of Investools initiates- This had been presented to me as a program that incorporated both fundamental and technical info. While I had not seen the investools program before, it essentially screens stocks and includes an approach that looks at fundamental criteria, sector strength, TA on stochastics, Macd, and RSI (you can add indicators), and then the program continues on to Options trading etc. There are multiple levels- To "acquire a PHD" costs between 20k-23k That's the pinnacle and gives a lot of personal coaching time. I believe it also includes Options training, and the programm is automated to where it limits position sizing and Risk automatically.
What I found to be amazing, is that virtually all of the program's participants had been in the program less than 60 days- None had made any real trades- and mosty had put out more than 9k-20k based on a 2 day "seminar' they had attended. The base course was 3K-it gave you 5 DVD's , access to the on line site for 6 months ($50 per month), and a short basic training- opportunity to upsell- weekend program.
The basic program includes a "buy" signal when the stochastic, MACD, and RSI are properly aligned and the sector group strength is improving- Similar to the IBD screener I expect.
The other thing almost all of these folks had in common was they were professionals, had little or no prior trading experience-
The woman that sat next to me was 55+ (my age) , had signed up for the "masters" program, over 15K, and as she left she expressed how she needed to be able to prove the cost of the course to her retired husband- She was trying to find a way to not have to work until she was 70+
The program seems to put all of the necessary criteria at your fingertips- fundamentals and technicals- rolled into one package=-along with guidelines for position sizing and risk. What truly "bothered" me was the level of inexperience of the group. It seemed that somebody showed them an intro to TA 101 and they were sucked in.
HOWEVER-One of the 2 month participants -Has had great paper trading success with OPTIONS.
The self-serving part of this post is that I am seeking additional information on metastock and/or other screening programs that are capable of including fundamental info with some robust technical signals. On the cheap of course-
Thanks in advance, SD