RE: Beginners Questions
(2016-01-15, 09:34 AM)Lplate Wrote: isatrader
You are right we should not rely wholly upon a scanner, and of course it is an excellent job you do to spend hours on end running your own scans and then studying the results to highlight and interpret the best candidates for us.
Nevertheless, even though the scanner could be simplistic, I suppose it is just interesting to see what it comes up with, especially if the scan result lets you immediately see some sort of chart (such as finviz does if you hover over the symbol I look at finviz very occasionally because it lets you filter out some candidates by some fundamental criteria. If you are shorting a company, then it is also good to know that poor fundamentals are on your side.
I Thanks very much Acom for putting the link to this scanner http://screener.nextbigtrade.com/#/sectors I'd never heard of it.
as under Sectors you can choose "FTSE" and some charts immediately appear
Does anyone have any thoughts on how best to use it? Is it as simple as saying, in a general stockmarket which has gone into stage 4, searching
Stage 4,
1 week, vols 1, 2 and 3 descending,
Zoom your screen to 175% or 200%
Look down the top 7 chart pictures for likely candidates
clicking on W for Stockcharts Weekly candle chart
or Y for Yahoo Daily line chart
Then amending the charts, then studying it
Hey, wouldn't it be good if those links led to a customised chart design !!?
Is 2 weeks better maybe,
or Stage 3 4 weeks maybe, for imminent Stage 4 breakdowns?
Thanks for any thoughts
My issue with it is that it's too simplistic and hence wrong a lot of the time. The link you gave takes you to the 3D printers page, and the first result is ADSK which the scanner says in Stage 2 for last 9 weeks, which is very wrong, as it hasn't been in Stage 2 for over a year now.
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.