by Teresa Lo
We received this email from a subscriber last week:
I am a new member and would like to ask for some direction....
I have been on the Real Time forum for 2 days and ... I think I do not have the supporting tools that you have or the screens you and looking at during discussion.
Can you share with me the list of tools that a trader MUST have to be in this business, including the type of account and who do you use. List of tools you use and who supply them....
Sure, let's go over the list:
Computer
Custom built desktop (mirrored hard drives) computer with a Matrox G-series video card for multiple monitor support. I use two high-end NEC 17" LCD monitors.
Charting Programs
Mike and I both use TradeStation 7. We also use TradeStation 2000i with datafeed from eSignal. I also buy some end of day data from Dial Data and download the rest from Yahoo (and intraday from Quote.com) using HQuotePro.
Trading Platform
Mike and I both use Interactive Brokers to execute all of our trades in the U.S. markets. We have backup accounts at a full service firm, since in our opinion, we should not expect or depend on prompt telephone support from online brokerage firms.
Technical Trading Tools
We use a minimum number of technical tools, but each one has been chosen carefully for a specific function. Mike and I will also be releasing a suite of our own advanced technical trading tools in the near future.
- TrendVue Classic Swing Plotter
- TrendVue Color Bars
- Exponential Moving Average
- Simple Moving Average
- Keltner Channels
- Volume
- Average True Range
- Average Bar Length
- Average Directional Index
- ShowMe Yesterday's High and Low for Intraday
- ShowMe the Narrowest Range out of X days.
- Ratio Charts for big picture work.
- Justin Mamis spread for the new highs and lows.
- RSI for watching Connors VIX Reversal signals.
There is a small difference between the tools we use on the daily/weekly/monthly timeframes compared to intraday. To find out more, please review the transcripts from the December 2003 Technical Trading Workshop in the Knowledge Base.
Stock Watch List
We have our own list of stocks that we watch, in addition to the usual volume and price leaders that change from day to day.
04.02.11 13:14 #