Hello- Could anyone suggest a decent scanning software for intra-day trading? Thanks for the suggestions.
I just opened a new account with a broker who gave me Cool Ticks for free. Forget that one. I would rather pay for my Trade Ideas so I can back test current strategies. www.trade-ideas.com Good luck.
Sharp, Unfortunately unless you write your own every scanning software has cons. Trade Ideas works well IF you can fit your ideas within its fixed structure of parameters. Tradestation/Radarscreen can find just about anything but you must first input a stock or watchlist to scan. If you know what your universe is before hand I recommend. For example you can scan the entire SP500 index stocks in anytime frame realtime for your own personal criteria. If you dont know EasyLanguage you can pay to have it coded via 3rd party easily. Neoticker likewise but it is resource hungry and works best with Esignal and limits you to 2k universe. The best (imo) you could buy was Insight. But very expensive, required database management on your part and I dont know what their current status is since their sale to a prop shop. Another great scanner was First Alert, but it has been many years since I used them and they had problems with their "thin" client prior to their consolidation of services. If you're just looking for basic stuff like $ and % winners / losers, volume etc many brokerages will give you this info nowadays. IB for one. Esignal for another. Anything more complicated than that you begin to pick your poison. Disclaimer: I use Trade Ideas and Tradestation.
Aok, I agree that it is a shortcoming not having complete customizability in TI. My guess is that there is some programatic reason why. The only good thing is they add features to their list at a fairly good clip. Especially the latest volume and movement spikes http://www.trade-ideas.com/WhatsNew.html I found pretty useful and I sure like the fact I don't have to code it
The CEO with the obnoxious rug on his head is seen flying over a city skyline while we are told that we can get access to trade ideas with scottrade. Two years ago I funded a scottrade account just so I could use the trade ideas software having been recommended by a savy trader who swore by it. A subscription to the service directly through trade ideas was a lot more then I would have liked to have spent. After I developed a recommeded filter for the software I learned one thing that was lacking on the scottrade edition: You could not enter into the scanner any individual stocks, you could only get bird shot scans on things like etfs or on s&P stocks only- sending back a bunch of non sense garbage like xyz company etc. when you only wanted toknow about maybe CLR or RIMM The ability to scan only stocks of your choice was a key feature that was offered by trade ideas. The software is pretty much throwing back a lot of noise without this feature. I may be only interested in a trigger of say a basket of maybe twenty stocks. It is kind of sad that people will spend allthat energy to learn how to use the screener and then learn that it is crippled. Very disappointed.
Hmm that just sounds strange. Are you sure? I get RIMM and STT and PBR and HES and every other crazy name out there.