Hello isatrader and everyone else! My name is Acon Cheng. I will be 40 years old this year. I'm from Taiwan and will move to Australia soon (just got Australian PR last year). I had run a 3D design/3D printing/3D scanning business for over 8 years here but have sold everything in my career and got some money recently. Hopefully I will use the money to start a new life in Australia and profit in the stock market in the future.
In the past two years, I've spent lots of money in expensive investment courses and tried to use my saving to invest/trade in Taiwanese stock market. Unfortunately without any good discipline and with every mistake mentioned in Mr. Weinstein's book made, I lost quite some money in these two years. The loss wasn't lethal but has definitely taught me a lesson.
One of the main reason of my failure I believe is that I underestimated the complexity of stock market and had thought I can run my full-time business and do some professional trading tricks at the same time without too much effort on studying and research. I was totally wrong.
Now that I've ended my 3D profession and have much more time so I started to re-study stock market knowledge in these 2 months. An old friend recommended Mr. Weinstein's book. I was so amazed (stunned actually) after reading the Chinese version of this master piece and decided to follow his method right away. So I bought the original English book and I'm reading both versions for the second time. With the original version I found some mistakes of translation in the Chinese book. Read two books at the same time is time and energy consuming, but I start to understand the whole picture gradually, which is intellectually fun and joyful. After leaving the school for such a long time (my major is nutritional biochemistry) I am so happy for having a chance to study like a college student again.
I stumbled across this website when searching for methods to write the Mansfield RS zero line (now I know it's the 52-week MA of itself). I've gone through all posts of this Introduce Yourself Here! thread and got some basic ideas about updating the whole trading system in Mr. Weinstein's book with modern indicators and tools. Now I am ready to read the "Beginner's Questions" and "Market Breadth Update" threads. As for the original thread in T2W created by istrader and the new "Stan Weinstein's Stage Analysis" thread on this forum, they are too many posts there so maybe I need much more time to digest them after my second tour of the book.
I want to thank isatrader for creating such a amazing site. With your and other senior members' passion I believe I can dive deeply into Mr. Weinstein's method and find my way there. Hopefully I can contribute my own knowledge to this site in the future.
Guess I am the only (at least the first) Asian to speak here, haha. Here are some of my questions. Hope they are not too stupid and someone can give me some advises:
(1) Mr. Weinstein talked about his method basically on American market, but I saw some members coming from different corners of the world use Mr. Weinstein’s method to trade in their own market, which makes me wonder if his method a universal principle and can fit to all the markets on earth? In my case, Taiwanese market is a small and shallow one and easily manipulated so I don’t think stage analysis is a good strategy here.
(2) Which stockbroker do you recommend if I want to use the method on American market? Since different stockbrokers have different way to charge the commission fee, and stage analysis don’t need you to buy and sell at a very high frequency, I guess there must be a better choice to reduce your cost of trading. (Of course the stability, data availability, trading software and the variety of trading targets are concerns too)
(3) I noticed that members here tend to use some screening sites like StockCharts.com, Chartmill.com and independent softwares like ProRealTime or ShareScope to collect data, create indicators/charts and screen your targets. But why don’t you just use the software that stockbrokers provided –like Trader WorkStation 4 from Interactive Broker - to do so?
(4) As for the sites, a website mentioned by its creator here in this thread:
http://www.nextbigtrade.com
I found it can list highly organized screener results for stage analyst in its screener page with stage of the index, % of stocks on each stage in different sectors. Looks handy and promising. Anybody have experience on this website?
(5) Finally, I noticed that there is no need to subscribe the elite membership anymore to see all the sections on this website. Why? I can pay for the membership if the price is reasonable.
