spreadbetting the dow strategy

[iq200]

Paul, do u mind telling me why exactly this is?.......................i know there is alot of stocks on the weak list but my thinking was to only short list stocks that were overbought on their daily charts the night before, also by selecting two stocks in each sector this really narrows down my stock selection for the next day...............so far if im right does this not mean i couldn't just have all the short listed stocks charts and macci's on my screens?, cos then all i really need to watch would be the indu 1,5,10 min and their macci's then go to stock. Please clarify as i feel im really close to understanding strategy 3 now.

I don't think it would take too much of my time to go through the whole weak list at the end of each trading day, but im probably wrong


jason

Jason, I think what Paul means is that if you want to monitor lots of stocks, then the best way is to use RS. The alternative of course is to have multiple stock chart windows on the screen or to have one or two windows and cycle through multiple stocks. I think you will find that this could get quite laborious!
Cheers,
Imran

 

[Trader333]

Jason,

Imran is right, When you get a signal to Sell how are you going to know which 2 stocks per sector to short unless you have them all listed in RS ?


Paul

 

[jayjay121]

Jason,

Imran is right, When you get a signal to Sell how are you going to know which 2 stocks per sector to short unless you have them all listed in RS ?


Paul

I must be getting this all wrong as i thought we short listed stocks at the end of the dow trading session ready for the next trading day, we choose only the stocks on the weak list that are overbought on thier daily charts only. Am I right so far? then as far i was aware we just wait for the dow macci 1,5 and 10 to get to overbought too then enter a trade...................to exit we wait for the stocks daily macci to get oversold which will be sometimes within the day or more likely 1-3 days.

If im right on the above why would we need rs to scan during the trading day? as we already have our short list of stocks to short from our work the previous night.

obviously i've missed something i know.


jason

 

[iq200]

Jason, If you want to use RS, you have three choices:
1) Create a Tradestation brokerage stocks account and fund with min $30K (Platform fee = $99 pm)
2) Subscribe to TS8 (Platform fee = $250 pm)
3) Buy a 2nd hand copy of TS2K ($200-$600approx) + data fees (Esignal will cost about $80-$100pm). Also I am not quite sure about legalities of buying 2nd hand. That is whether Tradestation people recognize license transfer)
Cheers,
Imran

 

[iq200]

I must be getting this all wrong as i thought we short listed stocks at the end of the dow trading session ready for the next trading day, we choose only the stocks on the weak list that are overbought on thier daily charts only. Am I right so far? then as far i was aware we just wait for the dow macci 1,5 and 10 to get to overbought too then enter a trade...................to exit we wait for the stocks daily macci to get oversold which will be sometimes within the day or more likely 1-3 days.

If im right on the above why would we need rs to scan during the trading day? as we already have our short list of stocks to short from our work the previous night.

obviously i've missed something i know.


jason

You're analysis is done at the end of the trading day. But say you're in a position involving several stocks over a few days. How will you quickly check where the MACCI is for each stock? Bring up the chart many times in the day fo a few days? Or quickly check in a RS window? If you have the time and the patience then the latter is for you
Cheers,
Imran

 

[jdbzero]

I must be getting this all wrong as i thought we short listed stocks at the end of the dow trading session ready for the next trading day, we choose only the stocks on the weak list that are overbought on thier daily charts only. Am I right so far? then as far i was aware we just wait for the dow macci 1,5 and 10 to get to overbought too then enter a trade...................to exit we wait for the stocks daily macci to get oversold which will be sometimes within the day or more likely 1-3 days.

If im right on the above why would we need rs to scan during the trading day? as we already have our short list of stocks to short from our work the previous night.

obviously i've missed something i know.


jason

Jason, I do pretty much what you outline above. I do not have Tradestation either; I use Sierrachart with a glorified excel worksheet which lists all the stocks and their MACCIs. I then shortlist the shortlist in advance which means you only have a selection of charts to work with. For the basic strategy as outlined by Grey1 in the webinar this will suffice. As things progress then I think Tradestation will become necessary but hopefully by then the costs will be justified.

Thanks, Jonathan

 

[jayjay121]

Jason, If you want to use RS, you have three choices:
1) Create a Tradestation brokerage stocks account and fund with min $30K (Platform fee = $99 pm)
2) Subscribe to TS8 (Platform fee = $250 pm)
3) Buy a 2nd hand copy of TS2K ($200-$600approx) + data fees (Esignal will cost about $80-$100pm). Also I am not quite sure about legalities of buying 2nd hand. That is whether Tradestation people recognize license transfer)
Cheers,
Imran

yes thanks imran,

im gonna go with tradestation 8.3 monthly subscribtion as i think its easier, i've seen from belfans thread the drama's he has had and im not that tech savy, so ill have no chance..........i've used tradestation 8.1 in the past and i know my way round it too which is an advantage for me, also other platforms like ninja and IB can easily be intergated...........I may have a problem with some of the code but i'll just have to get someone to re-code some of greys' stuff if i can find a programmer that is.

Basically now it just a question of which brokerage i'm going to use.......tradestation or IB

I think i understand the RS question now, thanks guys........I don't absolutely need RS but it makes it easier and less time consuming. I can see that now.

by the way i feel next week could be a great time for me to start this strategy with what has happened to the dow this week


jason

 

[Trader333]

RS can make things much much easier because it is possible to set things up in a way that an audible alert be given to exit a trade for any stock that you may be in a trade for. If I were doing it I wouldn't even need to look at my pc except when I get an exit alert.


Paul

 

[jayjay121]

RS can make things much much easier because it is possible to set things up in a way that an audible alert be given to exit a trade for any stock that you may be in a trade for. If I were doing it I wouldn't even need to look at my pc except when I get an exit alert.


Paul

that is quite cool as im not at my desk all the time and always doing other things and i would love to have this set up...............what about an exit alert sent staight to your i-phone?, now that would be cool


jason

 

[jayjay121]

is this the yahoo news that is pushing the futures up right now?




jason

 

[Trader333]

that is quite cool as im not at my desk all the time and always doing other things and i would love to have this set up...............what about an exit alert sent staight to your i-phone?, now that would be cool

Bear in mind that you will need some easylanguage skills to do this. I am just saying that is what I would do.


Paul

 

[jayjay121]

just phone IGindex and they actually charge for rolling cash bets so swing spreading is not viable, i definately not going to do SB now and see what you talking about now grey.................gonna stick to just direct access only.


jason

 

[belflan]

Hi Glen
Well this is only my opinion for a start.
It's easier for me to hedge with one instrument than it is to close 10 and then have to decide when to re-open them individually.
I'm used to trading futures (including getting it wrong of course) and that may not suit other people.
But I think I should not say any more, because I don't want to confuse what Grey1 is doing to demonstrate his strats. I only posted originally to show that someone else was taking positions from the weak list, and then again because I had to deal with what happened yesterday one way or another, and I assumed people would be wondering about that.
My sincere apologies to Grey1 and everyone if I have caused any confusion.
Glenn

hi Glenn

no problems, just wondering what your thoughts were on hedgeing these positions

thanks
glen

 

[jayjay121]

ok forget spreadbetting but does anybody think that the strategy i outlined on the first page could work with e-minis or currencies..................i mean use the dow indu as the market still but this time use the emini's or currencies as the stock, would this work or are they all too closely correlated?


jason

 

[brutusdog]

ok forget spreadbetting but does anybody think that the strategy i outlined on the first page could work with e-minis or currencies..................i mean use the dow indu as the market still but this time use the emini's or currencies as the stock, would this work or are they all too closely correlated?


jason

for this to work ie, using the dow as a primary indicator the traded instrument would need to be a component of the dow.

you could trade the eminis as Iraj does with the spread betting and it will be more efficient due to getting a much better spread although the tax implications then come into it (assuming that there is a profit).