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RE: Beginners Questions - JimStudent - 2014-07-07
Does anyone know what is the makeup of Stan Weinstein's Glamour Average?
RE: Beginners Questions - isatrader - 2014-07-07
(2014-07-07, 01:55 AM)JimStudent Wrote: Does anyone know what is the makeup of Stan Weinstein's Glamour Average?
I'm not sure what it's made up of as it's one of his proprietary tools. But from his description it seems to be the most popular stocks of the moment, mostly likely large caps. But he doesn't say anywhere that I've read how it's calculated.
Looking at the shape of the index though, the closest proxy for it seemed to be the Nasdaq 100 from the last GTA newsletter I saw. But another index you could possibly also use as a proxy for it is the PDP - which is The PowerShares DWA Momentum Portfolio and is based on the Dorsey Wright Technical Leaders Index.
The PDP includes approximately 100 U.S.-listed companies that demonstrate powerful relative strength characteristics and stocks are rotated in and out of it quarterly based on their technical attributes score, which is calculated using five metrics derived from point and figure charts: Trend, Relative Strength vs the Market Signal, Relative Strength vs the Market Column, Relative Strength vs the Peer Group Signal, Relative Strength vs the Peer Group Column.
So the PDP could be our substitute for it for now, and I'll make a note to ask the question about what the Glamour Index is made up of the next time I attempt a Q&A with him.
RE: Beginners Questions - dpc71 - 2014-07-09
Hello. Apologies for this basic question. I am looking for any advice on vehicles for taking positions on indices and stocks via isa's. I am used to using Spread Betting platforms, but want to also use the isa allowance.
Would anybody be able to give advice on the most cost effective providers/platforms and also the methods used e.g. ETFs.
Any advice much appreciated.
Kind Regards,
DPC
RE: Beginners Questions - isatrader - 2014-07-09
(2014-07-09, 09:28 PM)dpc71 Wrote: Hello. Apologies for this basic question. I am looking for any advice on vehicles for taking positions on indices and stocks via isa's. I am used to using Spread Betting platforms, but want to also use the isa allowance.
Would anybody be able to give advice on the most cost effective providers/platforms and also the methods used e.g. ETFs.
Any advice much appreciated.
Kind Regards,
DPC
You can trade UK and International stocks via an ISA. You have to pay stamp duty on FTSE 350 shares, but the AIM shares are now except from Stamp Duty and you don't pay any stamp duty on international stocks or ETFs. But you have to consider currency risk with a lot of ETFs as they are often denominated in dollars.
To research ETFs available in the UK market go to http://www.londonstockexchange.com/specialist-issuers/etfs/issuers/issuers.htm which lists the websites of all the ETF providers for more research.
I hope that helps
RE: Beginners Questions - brokers - pcabc - 2014-07-17
I'm currently buying using fill or kill orders. My entries seem poor I am looking to see if I can find UK brokers that support buy stop limit orders to see if that improves my entry points. Currently I'm using Hargraves Landsdown who don't support them. I can only get stop loss orders on FTSE350 as well.
This seems easy to find for CFD accounts but I am looking for regular share accounts. Interactive Investor seem to be one option, at least for UK listed shares. Is anyone aware of any others?
Plan was to not use the buy stop limit orders quite as the book intends - set them for the breakout levels, but not as a 'fire and forget' rather try to set them a few days before a potential breakout or continuation. That way I'd hope to mitigate against loosing large percentages of any steep rise - as I seem to have been doing.
This assumes I can spot a reasonable proportion of potential breakouts.
RE: Beginners Questions - isatrader - 2014-07-17
(2014-07-17, 09:22 AM)pcabc Wrote: I'm currently buying using fill or kill orders. My entries seem poor I am looking to see if I can find UK brokers that support buy stop limit orders to see if that improves my entry points. Currently I'm using Hargraves Landsdown who don't support them. I can only get stop loss orders on FTSE350 as well.
This seems easy to find for CFD accounts but I am looking for regular share accounts. Interactive Investor seem to be one option, at least for UK listed shares. Is anyone aware of any others?
Plan was to not use the buy stop limit orders quite as the book intends - set them for the breakout levels, but not as a 'fire and forget' rather try to set them a few days before a potential breakout or continuation. That way I'd hope to mitigate against loosing large percentages of any steep rise - as I seem to have been doing.
This assumes I can spot a reasonable proportion of potential breakouts.
I don't think any of the retail brokers like you mentioned provide that kind of option for entering trades, although I might be wrong. But I have used a number of them in my ISA and SIPP accounts and most would only offer a stop loss on FTSE 350 stocks and nothing more complex than that.
If you want to trade with more professional options then you need a broker that gives you direct access to the order book and has all the options available. I believe Interactive Brokers has them, but haven't used them myself yet. But I know other members that do. Maybe private message goodtyneguy or shaunattwood as I think they both use them and so should be able to tell you if what you want to do is possible.
RE: Beginners Questions - goodtyneguy - 2014-07-17
(2014-07-17, 09:22 AM)pcabc Wrote: I'm currently buying using fill or kill orders. My entries seem poor I am looking to see if I can find UK brokers that support buy stop limit orders to see if that improves my entry points. Currently I'm using Hargraves Landsdown who don't support them. I can only get stop loss orders on FTSE350 as well.
This seems easy to find for CFD accounts but I am looking for regular share accounts. Interactive Investor seem to be one option, at least for UK listed shares. Is anyone aware of any others?
Plan was to not use the buy stop limit orders quite as the book intends - set them for the breakout levels, but not as a 'fire and forget' rather try to set them a few days before a potential breakout or continuation. That way I'd hope to mitigate against loosing large percentages of any steep rise
This assumes I can spot a reasonable proportion of potential breakouts.
I guess your best bet like isatrader said is to look at Interactive Brokers. The last time I looked they boasted they had 38 different order types and their comms for LSE stocks were a flat £6. I think this is regardless of size but you will have to check that out. They do offer a subscription to the LSE order book. One thing to be aware of though is the pattern day trader rules if you opt for a margin account in case you have a busy week
As it's a platform aimed at professionals there will be a bit of a learning curve for most people but there is all sorts of resources offered to help people along. I do not yet have an account but the black mamba here has held an account for a numbers of years. You will find his thread in the members thread if you want to get in touch.
RE: Beginners Questions - jgalt - 2014-07-19
Hi guys, newbie here. But I've been lurking for the past few weeks. Just finished SW's book and it opened my eyes to technical analysis. I am looking to trade on the side- not involved professionally in the finance industry in anyway. I just have a few questions that I couldn't find on google:
1. Certain stocks seem to be in perpetual stage 2. That is, they started off low and have been climbing for years. There is no clear cut stage 3, stage 4, or 1 at all. A good example would be NYSE:IBM which has been plodding along for the last year with the price oscillating around the 30 week MA. This current phase was preceded by years of continuous advance. How would one treat those stocks? Would you just consider it to be in a stage 3 top phase and ignore it completely?
Another example would be Microsoft (MSFT) which if you look at it from the beginning looks to be in a stage 3 top for the last 15 years. But when you zoom in, you begin to see the price fluctuating around the MA with some mini break outs and break downs. How does one approach these stocks? Can stage analysis by even applied in such a case?
2. My second question is this- sometimes a stock goes seemingly into a stage 4 spiral, trading well below the MA. Then when it hits a new low, without a build up stage 1 at all, the MA just does an about face and reverses back up as does the stock. How would you treat the stock in these situations? Would this be considered a stage 2 break out?
3. And finally, can a stock have higher and higher stage 1s without coming down? For instance, break out to a new high , level off like a stage 3 then soar to another platform?
And that's it for now! THank you very much for reading this. This is a great site and I hope to contribute in the future.