Quote from NYCMB:
The criteria of Jack's Day Trading is quite different from Spydertrader Equities fundamental Filter on Trade Navigator.
Not really.
Depending on which data source one uses for the culling criteria, one may use slightly different criteria (because one data source may not have available all data required). creating a Universe of stocks to trade always involves seeking 'quality' in an effort to apply the methods of The Price / Volume Relationship in a more efficient manner (more money per unit time). For example, Jack once posted
these criteria in a thread which discussed the use of indicators. In
another thread (which focused on using Stocktables.com), Jack posted slightly different culling criteria based on using a different source for the culling data. In my Equities Journal, I posted the
stocktables.com criteria, but recently posted the criteria I use in Trade Navigator in
this thread.
The other difference between a list developed from Jack's criteria, and the Automated list derived from The Trade Navigator Software, involves 'rank' calculation. To Jack,
every stock symbol has a rank - most very low rank - but
all symbols have a rank. Jack then recommends only trading stocks which have the
highest rank.
For me, I have added another layer of efficiency to the culling process. Since a trader is only going to trade the
highest ranked stocks, why calculate rank for equities which can never "make the grade" (so to speak)? As a result
my definition of 'rank' involves a stock which (at a
minimum) cycles 5 times in 6 months for 20% (or more) gains (across a period of 6 to 8 days). Any stock which does
not meet this minimum standard finds itself with a rank of zero.
As such, by culling for 'Fundamental Quality' first (EPS, Volume Minimums, Float, Insider Owned Percentage, etc.) and culling for 'Technical Quality' (20% gains, etc.) second, one is left with a Universe of Equities which 'work' with an eye toward making the most efficient use of one's time.
In the past, a trader had to manually perform both Fundamental and Technical culling - a process which required some 4 hours per evening. With the advent of Trade Navigator Software, one can now obtain the same information, but at the speed of a mouse click.
Quote from NYCMB:
Will the combined A an B criteria provide sufficient information if I summit them to Trade Navigator for remote assistance? TIA
All you require from Tech Support is for them to explain to you how to export the results of the Trade Navigator Automated Culling into a Quoteboard, and how to sort the list by unusual volume (a function already in your software).
HTH.
- Spydertrader
