StockFetcher Forums · General Discussion · real time quotes with opening gap spread<< >>Post Follow-up
dan208
1 posts
msg #33600
Ignore dan208
10/18/2004 7:49:27 PM

I use several filters and I have been using a method that works good when a stock gaps on the open (the open is higher than the previous close). I've had some success, but had some failure too, because I can't see if the stock has actually opened with a gap or if the stock has moved up quickly(usually followed by falling back down shortly after). So I was wondering if anyone knows a good real time quote service that shows you what the stock opened at so that I can tell if it gapped up or not. Doesn't matter if the quote service costs money or not.
Thanks in advance for your help.



yepher
353 posts
msg #33609
Ignore yepher
10/19/2004 11:42:06 AM

Dan,

I could not really tell if you meant historical data or just real time data. I will assume you meant real time data only.

There are many services that can do what you want. I really like the Yahoo real-time service because you can view their data in an app, as web pages, download the data to a spread sheet or your own custom application if you want. There are some built in filters that I think will find exactly what you are looking for. It is also pretty easy to make your own custom filter.

There are also applications that may help that are geared toward real-time data like MetaStock or TradeStation but they are not cheap in terms or $$ or leaning curve.

If you can use End of day data only Stockfetcher is by far the best tool I have yet to find.

my $.02





ImperialWhazoo
26 posts
msg #33619
Ignore ImperialWhazoo
10/21/2004 9:40:41 AM

I use AskCharts for streaming realtime charts and quotes ($9.95 a month) and it is sufficient for basic technical analysis.

Heres an overview of where AskCharts fits in my system: The night before, I use Stockfetcher to find a daily list of stocks meeting my criteria and I set up a daily portfolio to track in AskCharts. I use a Treo phone (Palm O/S) and I have a laptop with a Seirra Wireless PCMCIA card (144K bandwidth) in it. I set an alert in AskChart wfor each stock & AskCharts sends me an emial immediately when a price hits my alert point for that stock. A price can be set for all the stock I watch each day. AskCharts will send an email to my Treo phone. It vibrates and/or rings. I see the message regarding the stock having met my price. So, I have my laptop on battery and on power save mode to conserve battery except when I need to see a stock on screen. I fire it up, and a moment later, I'm online via my Sierra Wireless 550 card and I check that stock's current real time chart on AskChart and I make a buy or sell based on whatever I see.

The thing this set of technologies working together does for me is it lets me pre-plan my day and I can organize my intended actions ahead of time. AskChart is cheap ($9.95 a month). It is not only a realtime ticker.... it is a real time charting solution. And, I get to go to my ordinary job as a computer consultant and focus on what I'm doing there rather than having to position myself in front of a Level 2 trading station and I can still be a successful day-trader. I only trade about 15 times a day max, so if your style is to be a hugely active daytrader, this approach will not work for you. But if you can pre-plan your intended moves, this system works pretty darn well. AskCharts is like an old Isuzo Pup pick-up truck. Its not designed to haul heavy loads of bricks around all day every day, but it is more than adequate if you need something lightweight for a little bit of hauling of things around town, if you follow my analogy.

I know you only asked about a realtime chart solution and I'm kind of like the guy who told the other fella how to build a watch when he was merely asked what time it was. I did so, however, to place the service (Askcharts.com) into the context of a real use to which it is being applied: namely, my own system.... to let you see where it fits in the overall picture.

Check out: http://www.askchart.com/index_non.php

Hope this helps.

Imperial Whazoo


xplorer
257 posts
msg #33622
Ignore xplorer
10/21/2004 10:46:25 PM

ImperialWhazoo ... you got a nice system rolling for you. I am a little envious ... or perhaps you've just given me a path to follow ... So, what kind of numbers are we talking ... 2 - 3 trades a week ? I imagine that once you trade is executed, you HAVE to get in a stop-limit ?

I have always shined away from placing stop-limits ... I use them ,,, just the mental kind.... I hate triggering a stop-limit when it is just a fluke.... a costly one.

Good luck to you ... and Fare Well ~


ImperialWhazoo
26 posts
msg #33668
Ignore ImperialWhazoo
10/24/2004 7:46:15 PM

I shoot at 5K investments, basically. So, if you trading a 45K portfolio, you aim at seven 5K trades a day. I do not use margin even though they all but throw it at you. And I always like to keep about 1/4 in the kitty. I honestly can't tell you why because common sense tells me I should play it all each day, but so far I do not. I've been at this now since May so I'm still a novice I suppose. Maybe when I get a few years under my belt I'll have the confidence to bet it all each day. I began using Stockfetcher about 3 weeks ago. It suits my style excellently. I wish I'd been using it months ago. I don't trade short.

Basically, I aim at a 1.75% return per stock buy and I try to make trades that take no longer than 2 days to trade out. I fly without a net the first day... I violate all the rules and place no stop orders until I am above my break even point. At the end of the first day, I'll place a stop order just above my break even point... sometimes. Basically, I'm trading low priced stocks that sometimes make my 1.75% on a 3 cent move. Its kind of hard to protect yourself under those circumstances.

I place a limit order to sell at 1.75% up on my buys as soon after the trade happens as is humanly possible. With Freetrade, I get $3.00 per side and 20 free trades a month so my costs are fixed at 6 bucks a trade after the first 20 trades. I factor in my $6.00 cost even on my first twenty and I set the sell limit at the next penny up from the rounding point. That way, I always make at least 1.75%. The idea is to trade every day asbout 75% of my available funds. If I can compound at a 1.75% rate every two days, I've met my goals. What I'm doing is several screens. I make every decision as though I'm looking for a reason not to buy the stock. That way, only the best candidates get bought. If I don't get cought up in buying frenzy, I end up with a really tight list to work from each morning. thats why I run tight screens. The tighter the screens, the tighter the list, the greater the chance of a productive set of trades. Always look for some reason to jetison a stock. If it survives, its a solid candidate.

I started out in May placing pre-market limit orders to buy at a calculated price on each candidate stock. What was happening was I ended up freezing my funds for the day if a buy did not happen. If I moved my buy point to make more buys, I ended up with more loosers. A Catch-22, sort of. Say I put in 11 orders and only had 4 of them tick... well, I froze my money on 7 of them. So, I retro-fitted my approach and came up with a system that uses emails rather than pre-market limit orders. I use email on my phone against my list each day. And also, this way, since I'm not placing limit orders to buy pre-market, I can "pretend" as it were that I'm placing limit orders to buy on a heck of a lot higher amount of money than I really have in my account. Just set up a rather long list and I get about 1/3 of them to tick correctly via email and my money is not tied up on the ones I incorrectly presumed would be my best candidates for the day. It takes the guesswork out of which to buy. The list is tight and the market ends up telling me which are the best candidates each day... in real time. In essence, the email to myself is a limit order without the downside of having to tie up my funds. I pre-determine what I want to pay for a stock and send myself an email when the stock is about 3 to 5 cents above. I end up better able to buy because I'm reacting to an e-mail and not trying to predict. By using email to tell me to look at a stock a tick or two above my calculated buy point, I can see momentum and RSI and stuff like that in real time (AskCharts) which sometimes keeps me from making a buy on a stock that is still in full decline. Effectively, the email system works as a buffer between me and mistaken buys of stocks before they have declined to where they are buyable.

Anyway, it sounds harder than it is.

Imperial Whazoo


StockFetcher Forums · General Discussion · real time quotes with opening gap spread<< >>Post Follow-up

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