what system to use?

[TeaTime]

Hi Guys, I’m new,
I’ve a trading A/c with IB and trade the US stock market, mainly blue chip read many posts here and was wondering what the most favoured stock trading software in use is at present,
I tend to trade from 10 minutes to 1 month, been using IB own charting and MACD candles, I know it’s basic but I’m still developing a style, I’m more of a technical trader I guess, be interested in hearing other styles and methods as I don’t want to spend years trying systems that don’t work….looking for the holy grail as we all are I guess
failing that I do believe having good software certainly can help in making decisions as to buy and sell…but which one ?

 

[tomorton]

Hi TeaTime - Don't know the specific answer to your query but your trading style is intriguing - 10 minutes to a month is a bit mind-boggling. Is it same methodology for all duration trades? i.e. do you go in for a trade with a probable 10min target exit time and sometimes extend it for a month (or vice versa)?

 

[TeaTime]

Hi Tomorton,
I enter a trade hoping it will go up , depending on my view of the market along with the stock I've bought, I should have said my time frame is anything from 10 minutes to I month, I've never had any sucess with short selling,

 

[tomorton]

Understood the clarification, thanks.

 

[nleoog]

Hi,

Use my very simple system on daily time frame :

Buy when Daily price cross above EMA 40

Sell when Daily price cross below EMA 40

And DX NXX UXX X SXXX LXXX

This my little secret to get your account growing

Regards

 

[TeaTime]

Thanks nleoog....does it come with a 10 year guarantee...

 

[tomorton]

Hi,

Use my very simple system on daily time frame :

Buy when Daily price cross above EMA 40

Sell when Daily price cross below EMA 40

And DX NXX UXX X SXXX LXXX

This my little secret to get your account growing

Regards

Rational, simple, difficult to misinterpret when seen on a chart.

I would add that intraday MA crossovers are often just "noise" and lag price action. To reduce whipsaw, I look for trend set-up and price confirmation. That is 2 or 3 major EMAs moving in parallel with price in a consistent trend. Then look for a daily close the "wrong" side of a major EMA, with reversion to trend "confirmation" by next day's close on "right" side of that EMA. Then enter at the close in line with the trend.

e.g. see EUR/GBP.
1. price moving in downtrend below both 50 and 200EMAs since late 2013
2. 08-09 July closed above 50EMA
3. 13/07 closed below 50EMA
4. enter short 13/07: price continued to fall next 4 sessions.

 

[nleoog]

Hi,

I would add filter with this criteria :

Open position only if price under EMA 40 on weekly chart.

You can use Prorealtime.com screener to filer stock

You can contact me for further details.

 

[TeaTime]

Thank you tomorton....

 

[TeaTime]

Thank you nleoog ...

 

[TeaTime]

Guys,

if I short a stock, is there a time limit on how long I can hold that position?
also the broker will charge me for the priviliage....i.e. the meter is running

finally a question on margin, is that a sort of loan the broker allows me to use to buy / borrow stock ( again I expect at a cost, )
I understand they can sell if and when they deem nessasary I believe if the trade goes sour

Hope Im not being to much of a pain in the butt...Cheers Guys and thanks appreciate your insight

 

[malaspina]

Hi Guys, I’m new,
I’ve a trading A/c with IB and trade the US stock market, mainly blue chip read many posts here and was wondering what the most favoured stock trading software in use is at present,
I tend to trade from 10 minutes to 1 month, been using IB own charting and MACD candles, I know it’s basic but I’m still developing a style, I’m more of a technical trader I guess, be interested in hearing other styles and methods as I don’t want to spend years trying systems that don’t work….looking for the holy grail as we all are I guess
failing that I do believe having good software certainly can help in making decisions as to buy and sell…but which one ?

Add some price action and volume analysis to your method. It will work wonders. You will notice it.

 

[malaspina]

Guys,

if I short a stock, is there a time limit on how long I can hold that position?
also the broker will charge me for the priviliage....i.e. the meter is running

finally a question on margin, is that a sort of loan the broker allows me to use to buy / borrow stock ( again I expect at a cost, )
I understand they can sell if and when they deem nessasary I believe if the trade goes sour

Hope Im not being to much of a pain in the butt...Cheers Guys and thanks appreciate your insight

Please read: http://www.trade2win.com/boards/first-steps/209392-understanding-risks-related-leverage.html

 

[mightyal]

Hi Guys, I’m new,
I’ve a trading A/c with IB and trade the US stock market, mainly blue chip read many posts here and was wondering what the most favoured stock trading software in use is at present,
I tend to trade from 10 minutes to 1 month, been using IB own charting and MACD candles, I know it’s basic but I’m still developing a style, I’m more of a technical trader I guess, be interested in hearing other styles and methods as I don’t want to spend years trying systems that don’t work….looking for the holy grail as we all are I guess
failing that I do believe having good software certainly can help in making decisions as to buy and sell…but which one ?

I'm not sure software can really help
the only ones that might make a difference are the ones that allow you to backtest that strategy of yours. otherwise they all offer the same thing with very slight variations. Some/most will come with their "proprietary" indicators which are just a gimmick
find something that allows you to backtest, and second to that something that allows you to replay which can save hours and hours of watching in real life. thats saved me a bundle of time starting off

 

[malaspina]

Do not buy software, develop your own method. Learn how to use price and volume (supply and demand law). That is all you need.

Hi Guys, I’m new,
I’ve a trading A/c with IB and trade the US stock market, mainly blue chip read many posts here and was wondering what the most favoured stock trading software in use is at present,
I tend to trade from 10 minutes to 1 month, been using IB own charting and MACD candles, I know it’s basic but I’m still developing a style, I’m more of a technical trader I guess, be interested in hearing other styles and methods as I don’t want to spend years trying systems that don’t work….looking for the holy grail as we all are I guess
failing that I do believe having good software certainly can help in making decisions as to buy and sell…but which one ?