Stock Trading and Research Tools

[Caveman]

Context is daytrading type style, not long term investing...

What do you use? Do you use software? How do you invest?

 

[Hyudra]

uh, quotetracker can plot charts and easily handle stuff, and it's free!

That's just to get some techincal analysis, but more advanced stuff like backtesting is available on the bloomberg terminal (if you have access to one of these).

Value trades could be accomplished with some fundamental analysis too, P/E, market cap, ect.

 

[Caveman]

Thanks for the help... Any more ideas from anyone?

 

[PCMarine]

yahoo finance, clearstation, any broker has tools, etc

 

[IHateMyJob2004]

Originally posted by: Caveman
Context is daytrading type style, not long term investing...

What do you use? Do you use software? How do you invest?

I have two bookson candle stick cahrts I will sell you. If interested, jsut PM me.

I no longer need them as it took more than people telling me that trading is stupid to realize it. I'm sure you've already been told, so I'll not say anything. You will underperform the markets over the long term though. it is inevitable!

 

[Cable God]

a quote from a close high level exec at Merrill Lynch: "Stock trading is simple. Bond trading is for expert professionals with the 'right' connections -- big banks, insurance firms and others who actually 'make the markets'. Forex trading is for the really special ones, who have access to world markets and insider information and "lots of currency" to play with. Playing that game as an individual is like a two-dollar player entering a rigged poker game in a room with hidden cameras and with unlimited stakes. I just found it funny and figured you guys would get a kick out of it.

 

[Taggart]

Let me go ahead and give you DaveSimmons answer:

BUY VFINX!!!!11

 

[mugs]

Originally posted by: Taggart
Let me go ahead and give you DaveSimmons answer:

BUY VFINX!!!!11

Haha, it's true, it's true.

 

[ultimatebob]

Does anyone know of an online stock tool that keeps track of dividend payout schedules? There are plenty of good research sites out there, but no free ones that cater to dividend investors.

 

[Hyudra]

Originally posted by: ultimatebob
Does anyone know of an online stock tool that keeps track of dividend payout schedules? There are plenty of good research sites out there, but no free ones that cater to dividend investors.

Dividends don't really add any value, but just keep track of basically all the stocks on the NYSE.

 

[Descartes]

I've actually written my own system in a combination of C++ and .NET that automatically identifies potential stocks, tracks them, and identifies entries based on a combination of criteria that I use as part of my strategy (some technical analysis is used). The system runs automatically without my intervention.

When I'm discretionary trading (actually analyzing my own stocks, etc.) I use any combination of the following (sorry, not linking each):
Wealth Lab
TradeStation (likely won't be continuing with them)
Ensign
TeleCharts 2000
Amibroker

I have used Wealth Lab and Amibroker for backtesting, and I use any combination of the above tools depending on what I want to do.

 

[Descartes]

Originally posted by: IHateMyJob2004

Originally posted by: Caveman
Context is daytrading type style, not long term investing...

What do you use? Do you use software? How do you invest?

I have two bookson candle stick cahrts I will sell you. If interested, jsut PM me.

I no longer need them as it took more than people telling me that trading is stupid to realize it. I'm sure you've already been told, so I'll not say anything. You will underperform the markets over the long term though. it is inevitable!

I'm sorry you've been a failure in your endeavor, but don't apply your shortcomings on the industry as a hole.

 

[Descartes]

Originally posted by: Hyudra
uh, quotetracker can plot charts and easily handle stuff, and it's free!

That's just to get some techincal analysis, but more advanced stuff like backtesting is available on the bloomberg terminal (if you have access to one of these).

Value trades could be accomplished with some fundamental analysis too, P/E, market cap, ect.

You can backtest with dozens of packages that are available, and you can even do it yourself (I have) if you have access to the data (there are tons of places that offer data). I listed a few in my previous post.

 

[ElFenix]

efficient capital markets theory says that day trading is nothing more than a gamble.

you're better off developing a system to try to pick the superbowl winner and then bettting the money line.

 

[compnovice]

Originally posted by: Descartes
I've actually written my own system in a combination of C++ and .NET that automatically identifies potential stocks, tracks them, and identifies entries based on a combination of criteria that I use as part of my strategy (some technical analysis is used). The system runs automatically without my intervention.

When I'm discretionary trading (actually analyzing my own stocks, etc.) I use any combination of the following (sorry, not linking each):
Wealth Lab
TradeStation (likely won't be continuing with them)
Ensign
TeleCharts 2000
Amibroker

I have used Wealth Lab and Amibroker for backtesting, and I use any combination of the above tools depending on what I want to do.

Cool.... Did you write it for your own portfolio or do you work in a financial firm?

 

[Descartes]

Originally posted by: ElFenix
efficient capital markets theory says that day trading is nothing more than a gamble.

you're better off developing a system to try to pick the superbowl winner and then bettting the money line.

sigh.

Two things:

1) The efficient market theory is just that, a theory
2) It's been so widely discredited by anyone that knows anything that it's silly to even bring it up.

 

[ElFenix]

Originally posted by: Descartes

Originally posted by: ElFenix
efficient capital markets theory says that day trading is nothing more than a gamble.

you're better off developing a system to try to pick the superbowl winner and then bettting the money line.

sigh.

Two things:

1) The efficient market theory is just that, a theory
2) It's been so widely discredited by anyone that knows anything that it's silly to even bring it up.

the strong form is easily discredited. the semi strong form not so much.

 

[Descartes]

Originally posted by: compnovice

Originally posted by: Descartes
I've actually written my own system in a combination of C++ and .NET that automatically identifies potential stocks, tracks them, and identifies entries based on a combination of criteria that I use as part of my strategy (some technical analysis is used). The system runs automatically without my intervention.

When I'm discretionary trading (actually analyzing my own stocks, etc.) I use any combination of the following (sorry, not linking each):
Wealth Lab
TradeStation (likely won't be continuing with them)
Ensign
TeleCharts 2000
Amibroker

I have used Wealth Lab and Amibroker for backtesting, and I use any combination of the above tools depending on what I want to do.

Cool.... Did you write it for your own portfolio or do you work in a financial firm?

Started out on my own, ended up pursuing a hedge fund manager that you likely know, and further developed the system so that it could be used, in part, by other hedge funds.

I use it to manage my own trading capital (I don't have all my capital in this account for various reasons, however).

 

[Descartes]

Originally posted by: ElFenix

Originally posted by: Descartes

Originally posted by: ElFenix
efficient capital markets theory says that day trading is nothing more than a gamble.

you're better off developing a system to try to pick the superbowl winner and then bettting the money line.

sigh.

Two things:

1) The efficient market theory is just that, a theory
2) It's been so widely discredited by anyone that knows anything that it's silly to even bring it up.

the strong form is easily discredited. the semi strong form not so much.

Not so much? It's become increasingly discredited over the years due to the pervasiveness of investor information, cheaper brokers, easier access, etc. The idea that the price of any instrument accurately reflects all fundamental information is, on the shorter term, absurd considering that it neglects that which technical analysis attempts to quantify: What traders are actually doing. Stock valuation is immaterial is people are acting "irrationally" and driving the prices higher.

 

[ElFenix]

Originally posted by: Descartes

Not so much? It's become increasingly discredited over the years due to the pervasiveness of investor information, cheaper brokers, easier access, etc. The idea that the price of any instrument accurately reflects all fundamental information is, on the shorter term, absurd considering that it neglects that which technical analysis attempts to quantify: What traders are actually doing. Stock valuation is immaterial is people are acting "irrationally" and driving the prices higher.

if investor information is becoming more pervasive, then the semi strong form becomes more likely, not less.

 

[DaveSimmons]

Originally posted by: mugs

Originally posted by: Taggart
Let me go ahead and give you DaveSimmons answer:

BUY VFINX!!!!11

Haha, it's true, it's true.

LOL, I wasn't going to bother this time since most day trader wannabes are convinced they can make ten times as much day trading, even though most start with too little money and not enough skill to have much chance of that.

You can do better than VFINX and other index funds, it's just that for most people the risk goes up much faster than the potential reward.

Including me, I'm way too lazy to treat investing as a second job and put the effort in to make high-risk investing even semi-sane. I'd rather use the time to read books, play games, watch DVDs and nef here. "A man's got to know his limitations."

 

[Descartes]

Originally posted by: ElFenix

Originally posted by: Descartes

Not so much? It's become increasingly discredited over the years due to the pervasiveness of investor information, cheaper brokers, easier access, etc. The idea that the price of any instrument accurately reflects all fundamental information is, on the shorter term, absurd considering that it neglects that which technical analysis attempts to quantify: What traders are actually doing. Stock valuation is immaterial is people are acting "irrationally" and driving the prices higher.

if investor information is becoming more pervasive, then the semi strong form becomes more likely, not less.

Absolutely incorrect, but this simply proves that you don't trade, and don't know what it means to do so. There's nothing wrong with that of course, but the reality is that the pervasiveness of tools and information leave the investor making yet more irrational decisions that lead to even more efficiencies in market valuation. These often emotional swings develop clear, and sometimes consistent, opportunities for traders that know how to take advantage.

So, while I see why you think the semistring would actually make it more likely, that's again under the premise of efficient market; unfortunately, that's just not the reality.

 

[Descartes]

Originally posted by: DaveSimmons

Originally posted by: mugs

Originally posted by: Taggart
Let me go ahead and give you DaveSimmons answer:

BUY VFINX!!!!11

Haha, it's true, it's true.

LOL, I wasn't going to bother this time since most day trader wannabes are convinced they can make ten times as much day trading, even though most start with too little money and not enough skill to have much chance of that.

The truth is that there are day traders that do make ten times or more, but that's probably less than 2% of traders... if even that. What is absolutely possible is a return of 20-25% on a consistent yearly basis.

You can do better than VFINX and other index funds, it's just that for most people the risk goes up much faster than the potential reward.

I agree.

Including me, I'm way too lazy to treat investing as a second job and put the effort in to make high-risk investing even semi-sane. I'd rather use the time to read books, play games, watch DVDs and nef here. "A man's got to know his limitations."

I used to think that way as well, but then I realized that I was investing a lot of time in that which didn't have any monetary return; granted, there's something to be said about doing that which you enjoy, but why not try to do both? For me trading is exciting, challenging, and financially rewarding. It does require a lot of my time, but I see a return on that time.

Also, higher returns need not be higher risk. To me, wantonly choosing any fund and then hoping for the best is riskier than managing my own portfolio.

 

[DaveSimmons]

Originally posted by: Descartes
I used to think that way as well, but then I realized that I was investing a lot of time in that which didn't have any monetary return; granted, there's something to be said about doing that which you enjoy, but why not try to do both? For me trading is exciting, challenging, and financially rewarding. It does require a lot of my time, but I see a return on that time.

Also, higher returns need not be higher risk. To me, wantonly choosing any fund and then hoping for the best is riskier than managing my own portfolio.

Makes sense, but right now the value of more money just isn't high enough for me to give up the free time I have. So I'll remain a lazy index fund investor

Your approach can certainly pay off better for someone if they have the time, have enough working capital, are willing to learn the skills, and can accept more risk.

Unfortunately most of the people I've seen in Off-Topic are looking for easy money and are working with much too small of an account. They want someone like you to give them a magic system to get rich quick.

 

[ElFenix]

Originally posted by: Descartes

Absolutely incorrect, but this simply proves that you don't trade, and don't know what it means to do so.

i'll stick with my diamonds, spiders, and qqqs.

considering how hard it is to consistently beat the market (in both up and down periods) and the fees, it isn't worth playing.