Australian (ASX) Stock Market Forum

Identifying prospects

Jump to new
P

PeterM

Joined
22 June 2006
Posts
1
Reactions
0
My first post, so I guess Beginners is OK. I've been reading this forum, people like Nick Radge, Leon Wilson and Sturat McPhee. The pattens analysis and need for a strong plan with good risk management are starting to sink in, but I'm stumped on one thing just now.

How do you folks identify the stocks to consider? Does your charting software let you search against the database for changes etc? I have only used Egoli so far, and signed up for the freebie version of Stockscan but it doesn't seem to let me do much?

Any advice or flack will be considered appropriately ;-)

Peter
 
I use Stockscan as well and i have it setup to indentify stocks that break out of thier upper Bolinger band on higher than average volume. Its not perfect, but i think its fine until i can afford an investment in some better trading software that has a scanner built in. I'm very curious as to what Kennas uses, he's always on top of the breakouts.

This forum is good too, there are several good posters that let people know when a stock has broken out.
 
Hi Peter,

The software i have allows me to scan on a whole range of different patterns and indicators some are more helpful then others. From my experience so far it seems alot of software packages have similar scanning capabilities, what i think is more important is knowing what you are scanning for. Depending on what your trading plan you should scan for stocks that are suitable for what you are trying to achieve. It takes awhile to find a method that suits you, i for example mostly scan between 1$ - 10$ and that working well for me at the moment.

I am only new to this so i am sure the more experienced peeps will be able to add some more valuable info mate.

Good Luck
Stink
 
Looking for trading software. Not a easy subject by any means. Have you had a look into the Trading Software threads on this Forums, sum good ones there to suit all price ranges. The best one would have to be the Star Trader but also the most expensive, but well worth the money. Good Luck!

Also may I add to you that with your present stockscans, that profit Compound comes into play, when looking for stocks that will go the distance. 30-40% an excellent minimum to look for.
 
Top