Adx???

[Bloodhound]

Hi there,
I'm new to the forum and also to financial spread betting. I've managed to make a fool of myself already (financially) so have started reading the financial spread betting handbook by Malcolm Pryor. Great book and seems to be making sense. One thing I am stuck on is where to find (easily) ADX readings for UK stocks in order to try and spot trends. Is there any good (cheap) software that can help? Does anyone have any preferences on spread betting software? Is iii Quotestream any good? I'm with Finspreads - do they provide the information I need already?
Thanks in advanced for your help
Am confused but trying to learn!!
KJ

 

[luckystrike23]

what do you mean by ADX readings? I would say that Capital Spreads are better than finspreads checking the comparison here Comparing the bid offer spread of the Spread Trading Firms

 

[UKtradergirl]

Hi there,
I'm new to the forum and also to financial spread betting. I've managed to make a fool of myself already (financially) so have started reading the financial spread betting handbook by Malcolm Pryor. Great book and seems to be making sense. One thing I am stuck on is where to find (easily) ADX readings for UK stocks in order to try and spot trends. Is there any good (cheap) software that can help? Does anyone have any preferences on spread betting software? Is iii Quotestream any good? I'm with Finspreads - do they provide the information I need already?
Thanks in advanced for your help
Am confused but trying to learn!!
KJ

I spreadbet with IGIndex and they have charts- and ADX indicators for free. I just had a quick look at the finspreads website. They do provide charts- but i can't tell if you will be able to get ADX on them or not. Look for an indicators list and see if it is there.

Failing that if you want to get charts and indicators for free, sign up to a company that provides them. I use my IGIndex charts even though i don't always actually place my trades through them.

Do you need intraday data charts? If you go with a package outside of Finspreads- you can get good free charts from ProRealTime : Real Time Technical Analysis Software which have end of day data-- and lots of indicators. For intraday data i hear that esignal.com is good although haven't tried it myself. You don't need anything too fancy for what you are trying to do so whatever you do don't pay a fortune for it!

Hopefully someone that actually uses Finspreads will be able to answer you a bit better than i have!

Good luck.

 

[megamuel]

Hi there,
I'm new to the forum and also to financial spread betting. I've managed to make a fool of myself already (financially) so have started reading the financial spread betting handbook by Malcolm Pryor. Great book and seems to be making sense. One thing I am stuck on is where to find (easily) ADX readings for UK stocks in order to try and spot trends. Is there any good (cheap) software that can help? Does anyone have any preferences on spread betting software? Is iii Quotestream any good? I'm with Finspreads - do they provide the information I need already?
Thanks in advanced for your help
Am confused but trying to learn!!
KJ

Hi kitejedi, I'm also new to spread trading and trying to find my way and I've also read Malcolm Pryor's book. If I remember correctly he looks for trends with an ADX above 30? In my opinion an ADX indicator is not necessary, its easier just to identify the trend by eye. ADX is supposed to indicate the strength of a trend but not sure how accurate this is. As I say probably just as easy and accurate to identify trends by eye unless you want to use ADX as part of your system (i.e. only enter a trade is ADX is over 30). Does anybody on here use ADX? I doubt many do. Anyway good luck my friend, you will need it!

Sam.

 

[Bloodhound]

Thanks for your replies. I did a little bit more research over the weekend and have signed up to the Updata free trial so will see how that goes. With regards to ADX I am going to run with it as part of my plan for the moment and see how it goes - I'm hoping that it will provide a quicker route to spotting trends than poring over charts..... Having worked in venture capital the whole technical analysis thing is a bit daunting as I'm used to fundamental analysis but it seems to be the basis for most peoples' betting strategy?

 

[megamuel]

Yes fundamental analysis is mainly used for investing and position trading. Day and swing trading uses technical analysis

 

[Bloodhound]

Hi there Tradergirl - I've signed up to prorealtime as well. Am now watching my laptop crumble under the weight of charts being displayed!!