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Ron2



Joined: 12 Jun 2006
Posts: 1

PostPosted: Mon Jun 12, 2006 8:50 pm    Post subject: Forum newbie Reply with quote

Hi all,

I recently finsished reading Stephens book "Profitable Candlestick Trading" and have found candlestick charts to be a great addition to my investing "toolbelt". I have already experienced some successes in my trading that I would've missed had it not been for my introduction to candlestick charting.

As a graduate of Investools investor education I have access to their website for searches and analysis. Although it is an awesome website I have found that the TeleChart2005 software is probably better for conducting the searches that Mr. Bigalow mentions in his book. I've downloaded and installed the software and it looks great. Before I spend too much time getting to know this software does anyone have any experience with the Investools website searches with regards to searching for trend reversal stocks? A search of this forum as to configuring the software for stock searches came up empty handed, I'd be very interested in hearing about how some are configuring the TeleChart2005 to conduct these searches.

Thanks and good trading
Ron
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Bluto



Joined: 26 Nov 2005
Posts: 146
Location: Va. Beach, VA

PostPosted: Tue Jun 13, 2006 1:12 pm    Post subject: Reply with quote

Ron,

Not sure about Investools, but typically each package has it's own variation on how to conduct searches for stocks using boolean logic. Telechart has a great scanning feature based on using built-in indicators and your own formulae called "PCF's". You should study how to write your own PCF's, and then reference the nice set of PCF formulae on this site for conducting the various candle searches. Sounds like your interested in looking for top/bottom reversal candles such as Morning Stars, Doji's, etc., and this site has the PCF formulae you can directly cut and paste.

Laughing
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cmaeda



Joined: 30 May 2006
Posts: 1
Location: San Diego

PostPosted: Tue Jun 13, 2006 7:25 pm    Post subject: Investools Reply with quote

I have a subscription to Investools and I find it great for monitoring my 401K Mutual Funds but in terms of screening, there are other better software out there.
I use investools mainly for the commentaries, to watch the stock market internals, look at the stock's fundamentals and to find downtrending and uptrending stocks. I haven't found any way to identify candlestick signals using investools.
Investool's analysis of a stock's fundamentals are great. Usually, if I buy a call option, I look for a phase I score of 5+ and a phase II score of 2. If I buy a put option, I look for a poor phase II score. I combine these scores with chart pattern, candlestick, Stochastics and MACD analysis. I only buy into a position when everything lines up.
Its' worked for me so far.
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Sunman



Joined: 02 Feb 2006
Posts: 7
Location: San Antonio

PostPosted: Tue Jun 13, 2006 9:01 pm    Post subject: Reply with quote

I went to there seminar and found some useful tools on there site. I did not sigh up because after doing some searching on the web, I found pretty much the same tools on the businessweek website.
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