3SOF

If you have more than 25.000 in your Scottrade account, it includes Trade Ideas.

For scan stocks I use the MSN Money stock screener.  It is delayed but I like a lot.

Quote from: Terliso on February 15, 2007, 09:54:40 AM

Quote from: David Randolph on February 15, 2007, 09:49:41 AM
I'm also a happy InteractiveBrokers costumer.

Can you short below $5 in Interactive brokers?

Yes you can, given that there are available shares to lend. But you can't trade PK and you can't short OTCBB traded stocks.

JADE  

www.Stockfetcher.com intraday or end-of-day stock screening. the cheapest they got is $8.95 monthly.

My favorite there is the price scanning, a very powerful tool.

Quote from: nica33 on February 15, 2007, 10:16:16 AM
If you have more than 25.000 in your Scottrade account, it includes Trade Ideas.

For scan stocks I use the MSN Money stock screener.  It is delayed but I like a lot.

It's a pity Scottrade doesn't accept foreign costumers, how silly is that?

MSN Money stock screener? Can you provide a link for that?

Thanks

Quote

Quote from: David Randolph on February 15, 2007, 10:08:36 AM

You need to read Reminiscences, it reads very well in English (I'm a foreigner too). I also have "Come into my trading room". I liked it at first, but not anymore.

Let me note that Nicholas Darvas here, the title is suggesting

I asked my parents for Reminiscences and Come into my Trading room for Christmas  this year and have finished Come into my Trading Room.  That book is mostly for playing the natural ups and downs of a stock (the channels).   What I don't like is that if you follow this short term strategy, you would miss out on major moves. 

The one thing I did like and I have been trying with some success is the idea of the double divergence.  This is where you find a stock that set a low, trended higher, and has now set even lower lows but with much less volume.  If you use the MACD Histogram and the "Force Index" that the book describes (available on stockcharts for free) you can look for stocks that have set new lows but without as much conviction as the previous lows.  The theory is that the selling is just about done and a major reversal is about to occur.  (you can do this with stocks at new highs too, everything is opposite and you are supposed to short there)

I have been running filters on stocks within 15% of their 52 week lows but were up over the past week.  I then look at those stocks for the double divergence in the chart and take a position.  I like to see the rise the week before because this may indicate the bottom is put in.  I set a stop below the previous low and try to ride out the profits. 

I have only been doing this since January and have had some success so far outperfoming the S & P but not outperforming David .  Stocks that I currently own that had this pattern include OTVI, CPWM, CREE, and CTXS.  Not going to make me rich I am afraid but it has been fun finding my own stocks

Quotewww.Stockfetcher.com intraday or end-of-day stock screening. the cheapest they got is $8.95 monthly.

Added to my favorites. Do they have a free trial? Can't find any button for that.

I'm addicted to Metastock and I always thought I should subscribe to eSignal to feed Metastock with live data. The problem is they only provide live data for 1000 or so stocks, or only the selected ones, and that way I couldn't make explorers to search the entire market.

Quote from: Terliso on February 15, 2007, 10:18:21 AM
www.Stockfetcher.com intraday or end-of-day stock screening. the cheapest they got is $8.95 monthly.

My favorite there is the price scanning, a very powerful tool.

I tried that for a month, liked it a lot, just didnt fully understand how to use it at the time.  But recently I found their user manual, it looks like this scanner is the most customizable I have seen.  In fact, considering that stockcharts.com isnt working now, I am going to go renew my subscription to stockfetcher right now!

Quote from: David Randolph on February 15, 2007, 10:17:14 AM

Quote from: Terliso on February 15, 2007, 09:54:40 AM

Quote from: David Randolph on February 15, 2007, 09:49:41 AM
I'm also a happy InteractiveBrokers costumer.

Can you short below $5 in Interactive brokers?

Yes you can, given that there are available shares to lend. But you can't trade PK and you can't short OTCBB traded stocks.

I've wanted to know about shorting stocks under $5 for a while. Thanks for that info. How much are trades with Interactive brokers?

SPAR  

I too am with Interactive Brokers, cheap option trading too and I trade pink sheet stocks with them, also canadian stocks.  They also do forex and futures and it is all in the same account. 
I have a whole website with (free) information for new traders, http://traderstar.com, lots of info there on various services I have tried.
I need to update it with more information on this site

http://moneycentral.msn.com/investor/home.asp

Quote from: nica33 on February 15, 2007, 10:16:16 AM
If you have more than 25.000 in your Scottrade account, it includes Trade Ideas.

For scan stocks I use the MSN Money stock screener.  It is delayed but I like a lot.

What search criteria do you use for this. I am looking at it right now and since you have come up with some great ones recently, I would be most interest. In addition to the criteria you generally set, do you look through each company that comes up and what are you looking for at that time?

QuoteI asked my parents for Reminiscences and Come into my Trading room for Christmas

I would read Reminiscences 5 times and forget about Come into my trading room, except the Money Management part.

QuoteI have only been doing this since January and have had some success so far outperfoming the S & P but not outperforming David  .  Stocks that I currently own that had this pattern include OTVI, CPWM, CREE, and CTXS.  Not going to make me rich I am afraid but it has been fun finding my own stocks

Sure, you should do that, but I don't think that method will work for long you know?

I think Reminiscences and Mastering Fundamental Analysis is a great combination.

I also read Trading for a Living from Alexander Elder. It's a fun read, but it doesn't help a trader in his early days. It didn't make me go in the right way. It is more of a commercial book than anything else. Dr Alexander looks like a 3 year old (in trading experience terms).

I use Prophet.net with great results. The real time scan is accurate and quite fast. The best part is I can view hundreds of charts on one page to quickly identify real trends and quickly eliminate the junk. It lets me create profiles for the scans and customize and tweak as I go.

I have found that the KISS method works best (Keep It Simple Stupid) and the following scan modified for volume works fine. A scan for $Volume would be better but I'll get there...
I change the volume threshhold as the day moves on...
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• Exchanges: NYSE AMEX NASDAQ(NM,SC,OTC,BB)
• Last Price is between 0.50 and 50
• Today's Volume is at least 50,000 shares
• Today's Open Price is at least 1% higher than the Previous High and the Last Price is at least 2% higher than the Open Price
• Market Cap is between 50,000,000 and 500,000,000
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