Needed: Strategy for compiling share watchlists

[EagleRock]

Hi All,

Subj:
I'd sure like to here your views regarding SB account and their list of shares able to trade on and using chart package to do eod scan for new possible trades...

Background:
I've just got finspreads a/c and seems the only way to generate a watchlist for eod processing is by manually going down every list the SB has and for each list entry: match up with appropriate symbol in my chart package.

I have troubles with being sure that the SB symbol is actually the symbol I've got in chart package. Seems most SB's and chart packages have their own way to name shares including the descriptive longname.

No use getting wrong symbol in chart package and merrily doing TA on it without realising that not really what is on offer by SB!
(sounds daft... but I've done it - but guess is good practice in actually deciding that have found trade signal even tho not able to make trade

Other problem seems to me, is that SB's must update their lists of tradables as-and-when. Just how do traders keep their own watchlists in sync with SB???

Hope making some sort of sense here

Ah well - would be very interesting to learn about how you deal with the day-to-day mechanics of processing for potential trades

Regards
Tim

 

[Skimbleshanks]

If you're doing end of trading on UK stocks, then you might want to look at getting ShareScope software - it's cheap, has lots of TA indicators, and - most importantly - you can keep portfolio lists. So you just put all the SB stocks into a portfolio, then each evening or whenever you just flip through those.

ShareScope is at www.ionic.co.uk and is probably the most reasonably priced EOD software around - lots of us here use it.

 

[EagleRock]

Skimbleshanks

Ok, I'll check out - have heard about Ionic.
You raise interesting point for me: Is it best to just do LSE/UK trading and keep it simple or consider US stocks too?

I'm not trying to be pushy here, but what do you do about likelyhood of SB changing its share list and keeping portfolio upto date? Do you have a weekly drill or...?

Perhaps if only deal with UK then less hassle to do manual SB list check against portfolio now 'n then.

Anyways, I'll looksee Ionic.

Thanks

 

[FTSE Beater]

Hi EagleRock

I have to agree with Skim, sharescope has everything you'll need and more.

I believe the spreadbetting companies will allow all FTSE 350 companies. The problem is that the spread on non-FTSE 100 stocks can get quite large, so I just stick to the top 100 and there is usually enough in that lot to choose from.

As for trading the US, the spreads are wider than the market and on an EOD basis I don't believe they move as much (I have nothing to prove that though )

To be honest, I think Spreadbetting companies rarely change their listings and those that they do, tend to be untradable for one reason or another.

HTH

 

[Helenqu]

I have Sharescope but it depends if you want to do TA based scans or not. If you do, or you want to play at creating your own TA based scan then AIQ is worth a look. It's more expensive than SS but it's great fun and highly flexible. I use Sharescope, Pfscan and AIQ for slightly different things in my EOD scanning.

Good luck

 

[Skimbleshanks]

EagleRock:

I would suggest that whether you trade UK and US just depends on your trading style, and budget. Of course, you'll usually need different software for UK and US - I use ShareScope for UK and Worden Brothers' Telechart for US www.tc2000.com

Otherwise you can use Metastock EOD, and import data but, again, you have to have access to the data in the first place. You can export from both ShareScope and TC2000, which would mean that you could search UK and US for entry criteria in one program, but I don't bother doing this anymore. Just too lazy!

 

[EagleRock]

Good Grief... Loads input here!

Skimbleshanks -
Have asked for test drive on tc2000 which looks interesting. I'm sure the additionally supplied background/historical info definitely worth studying.
When searching around for tc2000 related stuff I landed on www.amazingstocks.com which introduced me to rolling stocks concept (aka: swing?)
(not quite yet see how tc2000 is [related/helps] rolling idea)

You also mentioned MetaStock...I landed on interesting MetaStock 8.0 offer:
See www.adaptick.com/D1/MetaStockfor1BuckLong.htm
The offer includes Reuters professional data feed package: See www.metastock.ca/reuters_datalink_pricing.htm
All for 59usd incl/month...month-at-a-time sub.

Sharescope: yes, seems good monthly. Ionic want about 80gbp upfront + about 12/month eod sub.

I would suggest that whether you trade UK and US just depends on your trading style, and budget.

Trading style??? ya got me there dude! I'm happy with 4 things: MA's + Trends + Support + Resistance and beyond that I start sweating.
I really am at a loss regards that statement except to say that eod data inspection is where I'm at currently - just looking for any likely existing up/down trend or obvious? reversals or support/resistance breeches.

FTSE Beater -
Many thanks, you have sorted my thinking out... guess I'm getting too bogged down with trivia.
Yes, after all, loads shares in FTSE 350 (ummm... finspreads offers FTSE 100 and FTSE Mid 250. Does this relate to your FTSE 350 ?) and why they list as "Mid"?

Helenqu -
I tracked down AIQ uk site to www.software4traders.co.uk and they are offering rental?/monthly sub, for it.
( 59usd or about 36gbp )
"This covers: AIQ TradingExpert + myTrack Basic Plan.
The myTrack Basic Plan includes End-of-Day data, Real-Time data for selected international indices and Delayed data for an unlimited number of other securities."
I presume they mean LSE eod? And ultd # of other securities means any exchange? - not know if need delayed intra-day... I think eod trading (swing?/short-term futures) is going to give enough action without being glued to screen all day!

Good grief so many things - and guess this is tip of iceberg too!
ya pays yer money and ya takes yer pick!!!

But I would be very interested in what you people think about the MetaStock and AIQ offers and of course any comments about my trading waffle greatly appreciated.

I've been on a few forums... but what I've been given by all of you (so quickly too! - makes me feel very honoured) after all, you are all giving time to help others and this is indeed NICE !!!

Hope I can do same in due course

Tim

 

[FTSE Beater]

FTSE Beater -
Many thanks, you have sorted my thinking out... guess I'm getting too bogged down with trivia.
Yes, after all, loads shares in FTSE 350 (ummm... finspreads offers FTSE 100 and FTSE Mid 250. Does this relate to your FTSE 350 ?) and why they list as "Mid"?

Hi EagleRock

Yep, FTSE 100 + FTSE Mid 250 = FTSE 350.

Not sure why they call it mid 250. Maybe because it's the middle point between the FTSE 100 companies and the small cap companies

HTH