Sent: Wednesday, January 09, 2002 8:47
PM
Subject: Re: [sharechat] Data and
Charting Software
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
See IRG research reports
