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Hi Mike
Remember it well, sounds like your tuition
was worth it.
Rather scary that you are buying ITC for emotional
reasons though.
If you want to be a chartist then i would of
thought to have ANY
chance of succeding then your first requirement
will be iron discipline
and very strict trading criteria.
The small amounts you are
trading in also means your commision %age
is going to be rather high. On the other hand
good to see you not risking large
amounts until you sure you can make money at
trading.
How long you planning to trade
on trial basis before going in hard?
Nick
Hi Chris,
Infoscan http://www.infoscan.co.nz/ supply
end of day data and also up to the minute data as well, but up to the minute
data costs lots whereas end of day data costs about $72
quarterly (which I worked out to be about $1.11 per working
day). Infoscan do not supply any charting software
(that I know of) only the data, plus you can also
purchase 10 or so years history on most
exchanges from around the world for $100 or thereabouts.
I myself just joined Infoscan
for there end of day data and I purchased a charting
programme called Metastock and I just download the data at the end of each day
from Infoscan, I also purchased the ten years history on the NZSE which cost
an extra $100 from Infoscan (Metastock was not from Infoscan) nor do you have
to use Metastock there are several charting programmes that do the same thing.
Its just a matter of how much money you are willing to part with to
purchase a decent charting software package, but I would check to make sure
that whatever data supplier you choose is also compatible with the charting
software you choose.
For those of you who remember when I
was asking about data and software packages and which ones to purchase etc,
also about the $50 an hour tuition and whether that was worthwhile or not
(jolting any memories yet). Well I got the guy from the intelligent
investing team to pop around home and he gave me just what I needed, and
helped me construct my own first Explorer and also how to construct my own
Experts for certain stocks etc. and much more, definitely money well
spent (definitely). Funnily enough the first stock that Metastock came
up with after using the standard formula in the getting started manual
was Waste Management, that was before I had the home tuition and I broke all
the rules and purchased 1100 shares at $2.64 which I have now sold at $2.98
(bugger). After I had had the tuition and was using the formula
that we'd written and it came up with about five different companies, I looked
at them all and using my very very vast array of stock-market
knowledge, experience and know-how :) I chose NOG at 34
cents only thing was I only purchased 6414 shares (another
bugger) I'm wondering whether to sell them now or not. Other than
that I have not really had too much of a chance to get in and do any serious
learning of Metastock being that time of year again, but now I have no
excuses. I also brought 40,000 ITC shares at $.06 cents just to bring my
average price down as I already owned 50,000 at $.091 cents hopefully they
have an extremely good year (pretty please please please). I think Metastock
may have said no way to that purchase, but hey that damn programme can't
have it all its own way (whose the boss anyway).
Regards
Mike
Mr
Nua,
What companies supply this
data/software? I am only aware of 1 here in NZ and that's
Henley's.
Chris
----- Original Message -----
Sent: Monday, January 07, 2002
12:02 PM
Subject: Re: Re: [sharechat]
WAM
Hi Chris,
I would imagine that most chartists
(including myself) use a data supply and computer software. This means
that the prices and graphs automatically update.
You do need to update your trend
lines/boxes/stops (whatever you use), but this is only when your
interest has been spiked in a particular shares. I usually have about
10-20 shares on a "watchlist" which I will check every day.
This takes about 10 minutes a day. Not sure
about fundamentals.
Mr
Nua
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