Need Advice: Setups & Monitoring

I hope some of you successful veterans will help out a newbee:

1. For swing trading, what’s a good method for locating stocks which fit one the patterns (i.e. breakouts, reversals, etc.) from these books? I think something is needed to do end-of-day screening to point out possibilities for the next day. Just starting out, I want to keep expenses small until I find out if this is for me. Many of the products like Metastock, Tradestation, Omnitrader are quite expensive. Most of the web-based services focus on fundamental screening and don’t offer the technical screening needed for these trades.

2. What’s a good, inexpensive way to watch a stock and its indicators in real-time while simultaneously watching the S&P Futures, Nasdaq Composite, TICK, etc? Looks like eSignal is a popular one, but again that’s expensive just starting out. Level II is not really needed at this point.

Thanks,
Brooks

 

Brooks

I tend to just use good ole Investors Business Daily and http://www.investors.com when searching for breakouts. Look at the stocks with the heaviest increase in volume. Mutual funds take time to enter in a position so one day can easily follow more days.

if you want software

might I suggest trying to find a used version on EBAY?

rtharp

 

Brooks... Download Medved quotetracker..
http://www.quotetracker.com its a adware program that will give you what you want without any high cost.. if you have a datek account, then you'll not have a poblem with their new streamer datafeed. You'll even have the ability to view ECN level II, althought its not like regular level II with all the market makers displayed, but its better than nutting.

S&P500 futures... well, if you gots cybercorp, you can view it by /SPM1 at the symbol box.

cheers

 

For free real time with http://www.QuoteTracker.com software, you can now use the Scottrade data feed for real time quotes into the QuoteTracker portfolio tracker and charts, since Datek now requires that you actually have a funded account with them now to get their Streamer data feed and Scottrade does not require an acccount for you to pump in their data into the QuoteTracker software.

 

Brooks,

I'd suggest that in this Market, watch breakout trades carefully. I've been swing trading the same way, and the trades turn around pretty fast. So much so, that my system expectancy has gone negative.

It might be best to see that the indexes are moving up, then use that buying energy to move your trades along. When they are going down, I've been swimming against the tide.

Best,

Kevin

 

Mindgame,

Could you please also give the symbols for Nasdaq 100 and DJIA futures (like SPM1 for S&P 500).
Thanks in advance.

LMeyers.

 

Best trades are always to buy 2-day highs as they're breaking out, in the morning, eg from 9:40 til 11am

(same for shorts, short stocks making new 2-d lows):
http://www.tradingtheopen.com/shorting.htm

Ken

 

hey ken

I can't help but notice on your performance page you have absolutely no losers listed.....why is that??

 

Let's not start that again!

 

Brooks, are you speaking to me??? what did I say????

PEACE