Stage Analysis Forum - Trading & Investing using Stan Weinstein's Stocks Breakout method
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RE: Introduce yourself here! - MalcolmSm1th - 2014-01-06

Hello one and all.

I used to be heavily involved with investing in the 90s when I was living in Antwerp, Belgium. At the time I was using MetaStock and despite the market being positive when I was involved I found it hard to make any headway. That's an euphamism for making a thumping loss. The biggest problem I had in those days is knowing what to do.

The only source of information in those days was CompuServe (ask your dads, kids!) and really I had no idea of strategy or anything. One thing that I did do, along with a collegue, was to form a company called Smith & Hodgson Limited and we were the first company to sell UK Stockmarket data to the small investor. That took years getting it off the ground as the UKSE hadn't a clue what a small investor was and their idea was somone who was willing to spend hundreds of pounds A MONTH in licence fees to get the market data. That took off for a while and we got glowing reviews in the Small Investor section of the Investor's Chronicle on a regular basis (which clearly the folks in Threadneedle Street never read) and it was going well for a while until bigger companies came along and blew us out of the water. But, I'm still proud to say that we were the first.

Anyway, one thing led to another and I left the market because I was working all over Europe and I just got involved with horse racing which still is a good source of income. But now i have settled down on the LlÅ·n Peninsula, settled down with the good lady wife and the travelling days are over: for the time being.

Fast forward to early last year and I found myself an orphan and was left some cash so I decided to invest it for myself and the good lady wife. So, the week before the ISA deadline I put £10k into two ISAs and then did the week after and decided to get to work.

This time I've done no end of reading. I have read about thirty books on the subject this year and have taken out subcriptions out for Investors Chronicle, Shares and the free Spreadbet Magazine. All good information to get back into swing of things and they have now been cancelled as I find myself polluted by dodgy advice from them.

Of the books that I have read most of the good ones tend to have the same theme. Find a trend, get in and hang on when it goes up and get out quick if it goes wrong. And this is where I came across Weinstein's excellent book.

The other good book that I can only recommend is THE NAKED TRADERS GUIDE TO TRADING which is more fundamental based but it's a good complement to the Trechnical side of things.

Anyway, I am still reading what I can get my hands on and I have finally fought my way throught the Trade2Win forum and now I am reading this forum and Weinstein book again. The software I am using is ShareScope and if anyone uses SS then you can see me often making noises on their forums. I am also happy to code away in ShareScope's programming language, ShareScript, to improve my SS environment.

I am looking to develop the technical side with the Weinstein method because I like the simplicity of it. I have done all stuff learning the Fibonnaci this, the Gann that and none of it seems to work in real life as far as I am concerned. I have half of my funds in a technical ISA and half in the Fundamental ISA. The technical ISA is what I am looking at to use here.

Both are doing quite well at the moment (I am up 17% since April and after making some howling mistakes as well) but I want to get into Weinstein's methods for two reasons. The first is that I do the idea and I think that it will suit me and the second is that I want to be able to get to grips for spread betting.

The reason for this is that the market can't go on up forever. It's been going sideways since February 2013 and I note that I am getting stopped out everywhere. At the moment I have two holdings left: VP plc (VP.) and NCC (NCC) and the latter has thrown a sell which will get me out tomorrow and I am getting fewer buy recommendations by my own systems and I am thinking that we may be going south for a while and tenchical stuff would be good for shorting.

Oh, I do currently have one LONG spread - Trinity Mirror whch I think is in Stage 2 territory and has been since mid November

[Image: TrinityMirror-2014-01-06.jpg]

Anyway, that's it for me and, yes, I still do the horses. That's my daytime job which is both frustrating and satisfying as possibly can be.

So, excuse the ramble. You'll soon get used to me - or add me to your blocked list.

Cheers
Malc


RE: Introduce yourself here! - isatrader - 2014-01-07

Welcome to the Stage Analysis forum Malcolm. It sounds like from your first post that you are going to be a really good addition to our group as you have plenty of enthusiasm and want to learn.

I'm happy to help fast track your understanding of the method and help you get your charts setup in the Weinstein way and answer any questions that I can for you, and I'm sure other members would be willing to help also.

For example on the above TNI.L chart I can see that you've got the Mansfield RS setup with a 52 day setting, which is incorrect for the daily chart which instead uses a 200 day setting. It's the weekly chart that uses the 52 week setting for the Mansfield RS. For detailed instructions for how to setup the Mansfield RS on your charts go to: How to create the Mansfield Relative Strength Indicator

Another change I'd suggest for comparing across markets is to use the S&P 500 as the index to compare against, as then you can compare the relative performance of any stock in the world at a glance.

Anyway, as I said I'm happy to help you get up to speed so feel free to ask any questions which you can either do in the Beginners Questions thread or by private message if it's something you don't want to talk about in public.

Cheers


RE: Introduce yourself here! - MalcolmSm1th - 2014-01-07

Thanks ever so much for the welcome. I shall change the code to compare with the S&P forthwith though I will only have eyes for UK stocks which will fit into my ISAs. For the moment anyway.

- Malc


RE: Introduce yourself here! - Lplate - 2014-01-07

(2014-01-06, 07:25 PM)MalcolmSm1th Wrote: Hello one and all. . . .
I am looking to develop the technical side with the Weinstein method because I like the simplicity of it.
Hi Malc. Welcome to the board.
You seem to have a lot of ideas on the go, so I'd say, keep it simple, read isatrader's posts and ponder over why he has picked what he picks and how he would trade it. Also, you are interested in fundamentals, so clear how Weinstein interplays with fundamentals, e.g. think how a fundamentalist would now view buying two of this week's UK suggestions which rose on good results today: Crawshaw and Topps Tiles


RE: Introduce yourself here! - MalcolmSm1th - 2014-01-08

Morning Lplate and thank you for the welcome.

To be honest I am approaching this all with two minds; the fundamental ISA and the technical ISA. The fundamental side is going nicely and so I am not fiddling with that process as it more or less runs itself.

The technical side of things I have always found to be more subjective but I think that I am more or less singing from the same songsheet even though it may seem to be written in a different language to everyone else's at times.

Cheers
Malc


RE: Introduce yourself here! - malaguti - 2014-02-14

Hi to all, hope to become a regular poster here
I'm completely new to Weinstein with alot to learn. I'm sure that will come with time and people telling me where I'm going wrong so I'm completely open to any criticism

I'd really like to compare and contrast this method with another which has been my favourite for many years now Point and Figure and hopefully combine the two so I may well include P&F charts with any analysis to help me understand the subtleties between the two which both use breakouts at its core.

another string to the bow as it were


RE: Introduce yourself here! - dannyboy - 2014-03-29

Hey Everyone,

I am just starting my trading journey now. I was completely fascinated by Stan's methods and am inspired to follow his rules in my own trading. The hardest part so far has been figuring out which software to use and how to do full market scans. So far I like chartmill the best but I'd gladly accept any tips on what you all are using.

I live in Orlando, Florida (think Mickey Mouse) and am a software developer. I have 3 kids and my weekends are filled with watching my oldest play whatever sport he's in at the moment.

I'm getting into investing because I'm sick of seeing my money hover at the same amount year after year. I'm not trying to get rich quick but make a reasonable return on my money.

I'm thankful for this forum and can't wait to hear from you all. Let's make some money!!!


RE: Introduce yourself here! - zehjmz - 2014-04-24

Hello Everyone,

I have been investing in mutual funds for years and my dad (recently passed away). Purchase and used Stan's Professional Tape Reader newlsetter back in the 80's and 90's. My dad used M Lynch as a broker and had none of his funds in 401ks or IRAs. He sent 7 boys trough college and in his investing period turned in a healthy profit of around $2M following Stan's advise. My dad stopped managing his own investments around 2000 due to Alzheimer's. I started investing in stocks 12 months ago and remembered reading Stan's PTN. I came across a reference to the Stan's 1988 book and immediately purchased it around Dec 2013. I started using Stan's method's immediately. But, found it very difficult to find stage 1 stocks. So, I decided to use StageAnalysis.net. I look forward to learning and leveraging the site.

Jim