BullCharts discussion: New to Bullcharts looking for a hand

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New to Bullcharts looking for a hand

Printed From: BullCharts Forum
Category: BullCharts
Forum Name: BullCharts discussion
Forum Discription: General discussion about getting started with BullCharts and exploring its features.
URL: http://www.bullcharts.com.au/forum/forum_posts.asp?TID=113
Printed Date: 22 May 2024 at 9:52pm
Software Version: Web Wiz Forums 9.69 - http://www.webwizforums.com

Topic: New to Bullcharts looking for a hand

Posted By: Art Vandelay
Subject: New to Bullcharts looking for a hand
Date Posted: 18 Jan 2005 at 6:44pm

I am trying to get some scans going to identify some stocks to chart. At the moment it is a case of " too much information"

Can anyone suggest a few useful scan criteria that you are comfortable with?

Replies:

Posted By: chart rider
Date Posted: 18 Jan 2005 at 8:18pm

Art

I use a very simple scan to pick out stocks that are trending up:

50 day MA is above the 200 day MA. Add in the price range you are interested in and a volume filter (I use price range $2 - $20 and 50 day volume MA > 500,000), usually results in about 80 or so stocks to build a watch list.

Hope this gives you something to start with.

I rarely use automatic scanning beyond this initial level, preferring to visually flick through the watch list each day to identify potential trades.

Chart Rider

Posted By: davkell
Date Posted: 18 Jan 2005 at 11:44pm

Hey Art;

How new are you to all of 'this'. Do you mean the program or trading in general?

If you're new to trading try not to go down the path of looking for the 'easy' path. You can't expect to just have a plan handed to you and then trade it cause trading is 80% money management & psychology and only 20% your system. (%'s close enough to the truth!!!!). I made that mistake when I first walked into the trading foray! You need to learn all about Tech Analysis and develop your own system from there. If you have ideas about a system and need to develop an appropriate scan, then Peter will probably give you scan help.

If you're at the door and have no idea where to start, can I suggest looking into the Directional Movement System by Welles Wilder. There is plenty of info free on the net if you do a Google search for it, or purchase Alexander Elder's books, "Trading for a living" and "Come into my trading room". The DM system is explained quite nicely there as well as EVERYTHING else you MUST know about trading.

Happy to share my mistakes with you or anyone else so we can all move down the right path perhaps!

-------------
"Trade Your Way To Financial Freedom."

Posted By: Decan_Frost
Date Posted: 19 Jan 2005 at 8:19pm

How can anyone go past our good friend,Mr Alan Hull.

Use he,s scans at locating stocks performing well,save them to a file then apply a Hull MMA to sort through the crap.

Better still go to he,s web site and read his free news letter to get a grip on what he,s about and make your own decision from there regarding INVESTING or TRADING.

All the best!

Posted By: Art Vandelay
Date Posted: 26 Jan 2005 at 10:47am

I am new to both the program and technical trading and was merely looking for a hand as opposed to to being handed the end product.

Thanks for the help. I have used this info and also ended up on the chartfilter website which was an excellent in the education process. I am making some good progress now.