RE: Beginners Questions
(2013-04-07, 09:06 AM)Sapphire Wrote: Is there a software where one can automatically pull picks based on a predefined range. I see a lot of sites where you can do this on specific crossover events. Is that possible with the Weinstein method?
There isn't any software capable of identifying the Stages accurately as it requires a number of discretionary elements, as you will find as you learn more about identifying the Stages. You can however, set up scans in various software programs to filter out a lot of the stocks that aren't suitable and then manually look though the remaining stocks to pick out the candidates that are making the right moves.
I like to use point and figure double top and double bottom breakouts on Stockcharts.com scanner, as this gives all of the breakouts and breakdowns each day, and then I scan through for anything suitable. Another site, Chartmill.com, has it's own method of defining ranges, which can also be used effectively, as you can look for stocks close to the top or bottom of their ranges using their scanner and then manually search the scan results for the Weinstein method candidates.
Another simple, but easy to find option is 52 week highs and lows. Barchart.com has these and you can again scan through these manually to find the best picks.
Because identifying the Stages can't be automated, that's one of the reasons for this site, as through collaboration of the members, I hope in time that we can highlight the majority of the Weinstein method candidates ahead of time in the Trader and Investor method watchlist threads.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.