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	<title>Comments on: Trading Tools I Use</title>
	<link>http://dummyspots.com/2006/11/trading-tools-i-use/</link>
	<description>Stocks, Options, Currencies and One Big Dummy</description>
	<pubDate>Sun, 12 Oct 2008 10:43:27 +0000</pubDate>
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		<title>By: Setup on MA; Ameritrade StrategyDesk for Intraday Screening &#149; dummyspots.com</title>
		<link>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-1224</link>
		<author>Setup on MA; Ameritrade StrategyDesk for Intraday Screening &#149; dummyspots.com</author>
		<pubDate>Thu, 15 Feb 2007 02:40:19 +0000</pubDate>
		<guid>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-1224</guid>
		<description>[...] When I cross-referenced the stocks the StrategyDesk screen burped out with my usual Prophet.net screen, I got some very promising results. For instance, early-on the combo was sitting on CIEN and AMAT like Dickey Betts sitting on that last riff in Ramblin&#8217; Man. After firmly establishing the major tonality with a singing bend of the 9th or 2nd (A) from the Aeolian mode to the major 3rd (B), he basically treats measures 1–6 (I and IV) as a G tonality and emphasizes the root (G), 3rd (B), and 5th (D) notes from the G major triad. Measures 11 (vi) and 15 (I) are the only time that Betts uses the b6th (C) from the Aeolian mode as a quick pull-off to the B (major 7th of C and 3rd of G) for melodic variety. (from the &#8220;Fender Players&#8217; Club&#8221;) [...]</description>
		<content:encoded><![CDATA[<p>[&#8230;] When I cross-referenced the stocks the StrategyDesk screen burped out with my usual Prophet.net screen, I got some very promising results. For instance, early-on the combo was sitting on CIEN and AMAT like Dickey Betts sitting on that last riff in Ramblin&#8217; Man. After firmly establishing the major tonality with a singing bend of the 9th or 2nd (A) from the Aeolian mode to the major 3rd (B), he basically treats measures 1–6 (I and IV) as a G tonality and emphasizes the root (G), 3rd (B), and 5th (D) notes from the G major triad. Measures 11 (vi) and 15 (I) are the only time that Betts uses the b6th (C) from the Aeolian mode as a quick pull-off to the B (major 7th of C and 3rd of G) for melodic variety. (from the &#8220;Fender Players&#8217; Club&#8221;) [&#8230;]</p>
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		<title>By: Will</title>
		<link>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-266</link>
		<author>Will</author>
		<pubDate>Thu, 16 Nov 2006 23:13:19 +0000</pubDate>
		<guid>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-266</guid>
		<description>em - Thanks for the note.  Didn't know that about Prophet's problem with volume and OHLC's being different than others.  Also you're completely right- I neglected to mention that the scanner has  no "&lt;strong&gt;gap up from previous close&lt;/strong&gt;" per se; I figured out a while back how to "finesse" it as you have, by using a negative number for the "above previous high" figure.  

&lt;em&gt;(For those playing along at home, it's on p.6 of the ProphetScan, "Intraday Activity" under "Gap Up/Down".  Choose "Gap Up: Today's open price is at least XX % greater than Previous High")&lt;/em&gt; ... I use &lt;strong&gt;-2 "%"&lt;/strong&gt; for this figure, looks like this is where em uses &lt;strong&gt;-.01 "$"&lt;/strong&gt;, if I'm not mistaken.

Brad - thanks for the comment, and the links.  Also have "del.icio.us'd" your Stock Operator site and look forward to visiting it often

Declan - thanks for the great info and the tips!</description>
		<content:encoded><![CDATA[<p>em - Thanks for the note.  Didn&#8217;t know that about Prophet&#8217;s problem with volume and OHLC&#8217;s being different than others.  Also you&#8217;re completely right- I neglected to mention that the scanner has  no &#8220;<strong>gap up from previous close</strong>&#8221; per se; I figured out a while back how to &#8220;finesse&#8221; it as you have, by using a negative number for the &#8220;above previous high&#8221; figure.  </p>
<p><em>(For those playing along at home, it&#8217;s on p.6 of the ProphetScan, &#8220;Intraday Activity&#8221; under &#8220;Gap Up/Down&#8221;.  Choose &#8220;Gap Up: Today&#8217;s open price is at least XX % greater than Previous High&#8221;)</em> &#8230; I use <strong>-2 &#8220;%&#8221;</strong> for this figure, looks like this is where em uses <strong>-.01 &#8220;$&#8221;</strong>, if I&#8217;m not mistaken.</p>
<p>Brad - thanks for the comment, and the links.  Also have &#8220;del.icio.us&#8217;d&#8221; your Stock Operator site and look forward to visiting it often</p>
<p>Declan - thanks for the great info and the tips!</p>
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		<title>By: Declan Fallon</title>
		<link>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-264</link>
		<author>Declan Fallon</author>
		<pubDate>Thu, 16 Nov 2006 10:34:23 +0000</pubDate>
		<guid>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-264</guid>
		<description>Thank you Will for the mention (I was getting a significant level of traffic from your site!). 

Just to add my 2 cents.  Everyone needs to find their comfort level for trading/investing; there are so many free tools available on the internet (and with the boom of the blog, personal opinion too) it is now much easier and most certainly better to tinker and identify the strategies which work best for you before rushing off to subscribe to a stock picking service or buy an overpriced black box system. For many, a couple of moving averages and support/resistance lines are as much information needed to make profitable trades. The public Stockchart list is a great free resource if you have an interest in Technical Analysis (I keep a list there too). On my blog I do a weekly summary of the leading public lists, showing what some of the most popular posters are saying about the market. 

As Will noted I offer a stock pick service and endeavor to keep it as honest as possible (as the information I provide is a tool I use for myself first and foremost). It certainly as its ups and downs and it is interesting to see how some of my scans which work well under one set of conditions, can utterly fail when conditions change (the unwritten curse of black box systems). I wish more service providers would keep record of their true performance (bloggers included); the problem of course is that [1] its not fun to write about the losers and [2] one tends to have more losers than winners, which would be enough even to make an optimist cry! 

Anyhow,
Time for my bed..
Best wishes,
Declan</description>
		<content:encoded><![CDATA[<p>Thank you Will for the mention (I was getting a significant level of traffic from your site!). </p>
<p>Just to add my 2 cents.  Everyone needs to find their comfort level for trading/investing; there are so many free tools available on the internet (and with the boom of the blog, personal opinion too) it is now much easier and most certainly better to tinker and identify the strategies which work best for you before rushing off to subscribe to a stock picking service or buy an overpriced black box system. For many, a couple of moving averages and support/resistance lines are as much information needed to make profitable trades. The public Stockchart list is a great free resource if you have an interest in Technical Analysis (I keep a list there too). On my blog I do a weekly summary of the leading public lists, showing what some of the most popular posters are saying about the market. </p>
<p>As Will noted I offer a stock pick service and endeavor to keep it as honest as possible (as the information I provide is a tool I use for myself first and foremost). It certainly as its ups and downs and it is interesting to see how some of my scans which work well under one set of conditions, can utterly fail when conditions change (the unwritten curse of black box systems). I wish more service providers would keep record of their true performance (bloggers included); the problem of course is that [1] its not fun to write about the losers and [2] one tends to have more losers than winners, which would be enough even to make an optimist cry! </p>
<p>Anyhow,<br />
Time for my bed..<br />
Best wishes,<br />
Declan</p>
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		<title>By: Brad</title>
		<link>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-263</link>
		<author>Brad</author>
		<pubDate>Thu, 16 Nov 2006 09:59:21 +0000</pubDate>
		<guid>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-263</guid>
		<description>First of all, great site!

I also use quotetracker and prophet.net, both of which are excellent.  I agree with other posters that perhaps there are better (and more expensive) tools available, but I find that for my style these are more than good enough. I can also recommend a couple of other free sites that are good for finding stocks on the move (I think trader-x also had a post about this): 

http://dynamic.nasdaq.com/dynamic/premarketma.stm
http://quote.com/qc/research/hotlist.aspx?hotlist=

By the way, these sites and others can be found at my trading  blog (www.cutyourlosses.blogspot.com). I use this blog mostly  for my own purposes (i.e. as a trading journal and as a one-stop shop for links to on-line scans such as those mentioned above), but if anyone finds it useful, feel free to check it out.</description>
		<content:encoded><![CDATA[<p>First of all, great site!</p>
<p>I also use quotetracker and prophet.net, both of which are excellent.  I agree with other posters that perhaps there are better (and more expensive) tools available, but I find that for my style these are more than good enough. I can also recommend a couple of other free sites that are good for finding stocks on the move (I think trader-x also had a post about this): </p>
<p><a href="http://dynamic.nasdaq.com/dynamic/premarketma.stm" rel="nofollow">http://dynamic.nasdaq.com/dynamic/premarketma.stm</a><br />
<a href="http://quote.com/qc/research/hotlist.aspx?hotlist=" rel="nofollow">http://quote.com/qc/research/hotlist.aspx?hotlist=</a></p>
<p>By the way, these sites and others can be found at my trading  blog (www.cutyourlosses.blogspot.com). I use this blog mostly  for my own purposes (i.e. as a trading journal and as a one-stop shop for links to on-line scans such as those mentioned above), but if anyone finds it useful, feel free to check it out.</p>
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		<title>By: em</title>
		<link>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-262</link>
		<author>em</author>
		<pubDate>Thu, 16 Nov 2006 08:55:41 +0000</pubDate>
		<guid>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-262</guid>
		<description>This is an excellent post as I already use prophet for scanning but I would love to narrow my candidates without narrowing my opportunities. I'm going to try your settings. However, in the Gap Up section of prophet (where you place your setting 1% above previous close) it might be beneficial for readers to know that if you set the first section to -.01 below the previous high (for longs) you can get a comphrensive list. Took me awhile to figure that out. Also, you're post labeled: URBN Block Trade Triggers Profitable Flip-Flop is also very, very interesting. I've checked some of my previous trades on the 5 minute chart and noticed on more than once occasion a huge spike in volume a couple of bars before a reversal. In addition to the candlesticks... it's nice to have another indicator. Thanks for your posts... extremely helpful.

Oh... I am a Gold subscriber to prophet because I use them for charting (which I may change because of Quotetracker), but a big issue I have with Prophet is sometimes their feeds are incorrect or very different than what I see in my trading platform. Volume is always about 1% lower in prophet and their data sometimes varies as well. For instance, prophet may have a different high or low or open or close. This is important especially if you rely on candles (which I do). I currently have to confirm every trade in my trading platform (which takes times). I need to look for a reliable data feed for Quotetracker - suggestions are welcome!!!!</description>
		<content:encoded><![CDATA[<p>This is an excellent post as I already use prophet for scanning but I would love to narrow my candidates without narrowing my opportunities. I&#8217;m going to try your settings. However, in the Gap Up section of prophet (where you place your setting 1% above previous close) it might be beneficial for readers to know that if you set the first section to -.01 below the previous high (for longs) you can get a comphrensive list. Took me awhile to figure that out. Also, you&#8217;re post labeled: URBN Block Trade Triggers Profitable Flip-Flop is also very, very interesting. I&#8217;ve checked some of my previous trades on the 5 minute chart and noticed on more than once occasion a huge spike in volume a couple of bars before a reversal. In addition to the candlesticks&#8230; it&#8217;s nice to have another indicator. Thanks for your posts&#8230; extremely helpful.</p>
<p>Oh&#8230; I am a Gold subscriber to prophet because I use them for charting (which I may change because of Quotetracker), but a big issue I have with Prophet is sometimes their feeds are incorrect or very different than what I see in my trading platform. Volume is always about 1% lower in prophet and their data sometimes varies as well. For instance, prophet may have a different high or low or open or close. This is important especially if you rely on candles (which I do). I currently have to confirm every trade in my trading platform (which takes times). I need to look for a reliable data feed for Quotetracker - suggestions are welcome!!!!</p>
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		<title>By: Will</title>
		<link>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-261</link>
		<author>Will</author>
		<pubDate>Thu, 16 Nov 2006 06:20:03 +0000</pubDate>
		<guid>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-261</guid>
		<description>TMS - I completely agree.  Since I've gotten used to Quotetracker (been using it about a month), I couldn't live without it, and I'm sure there's some $$$ package that I would love even more, but like you, I'm skeptical whether it would actually improve my trading.  If they would all offer a 30-day full-featured trial, I might give more of 'em a test drive.  But one thing I'm sure of- the bottleneck in my trading isn't in my software, it's between my ears, so that's where I need to focus most of my energy.  Thanks for stopping by!</description>
		<content:encoded><![CDATA[<p>TMS - I completely agree.  Since I&#8217;ve gotten used to Quotetracker (been using it about a month), I couldn&#8217;t live without it, and I&#8217;m sure there&#8217;s some $$$ package that I would love even more, but like you, I&#8217;m skeptical whether it would actually improve my trading.  If they would all offer a 30-day full-featured trial, I might give more of &#8216;em a test drive.  But one thing I&#8217;m sure of- the bottleneck in my trading isn&#8217;t in my software, it&#8217;s between my ears, so that&#8217;s where I need to focus most of my energy.  Thanks for stopping by!</p>
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		<title>By: Will</title>
		<link>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-260</link>
		<author>Will</author>
		<pubDate>Thu, 16 Nov 2006 06:11:31 +0000</pubDate>
		<guid>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-260</guid>
		<description>esto- thanks!  I enjoy your site very much; as a matter of fact, you may see that I mentioned it as one of my favorites in a yet-to-be-published interview with a certain website  ;-)

Glenn - So far AMTD seems to pretty much leave their "annexed" software alone, for better or worse.  I think they hired the MedVed team to continue updates and development, so all should be well.

Lloyd - Morpheus, eh?  That's a nice compliment- thanks.  I tend to think of myself more like the guy in &lt;em&gt;Monty Python and the Holy Grail&lt;/em&gt;, saying "Bring out your dead!"  (ding)  "Bring out your dead!" (ding)</description>
		<content:encoded><![CDATA[<p>esto- thanks!  I enjoy your site very much; as a matter of fact, you may see that I mentioned it as one of my favorites in a yet-to-be-published interview with a certain website  <img src='http://dummyspots.com/wp-includes/images/smilies/icon_wink.gif' alt=';-)' class='wp-smiley' /> </p>
<p>Glenn - So far AMTD seems to pretty much leave their &#8220;annexed&#8221; software alone, for better or worse.  I think they hired the MedVed team to continue updates and development, so all should be well.</p>
<p>Lloyd - Morpheus, eh?  That&#8217;s a nice compliment- thanks.  I tend to think of myself more like the guy in <em>Monty Python and the Holy Grail</em>, saying &#8220;Bring out your dead!&#8221;  (ding)  &#8220;Bring out your dead!&#8221; (ding)</p>
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		<title>By: themarketspeculator</title>
		<link>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-259</link>
		<author>themarketspeculator</author>
		<pubDate>Thu, 16 Nov 2006 06:06:23 +0000</pubDate>
		<guid>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-259</guid>
		<description>I like your style, probably since mine is very similar in that I don't believe in the need for high tech tools.  Most of what I use is also free, and I seriously doubt my results would be any better for high prices scanners and services.</description>
		<content:encoded><![CDATA[<p>I like your style, probably since mine is very similar in that I don&#8217;t believe in the need for high tech tools.  Most of what I use is also free, and I seriously doubt my results would be any better for high prices scanners and services.</p>
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		<title>By: lloydphilip</title>
		<link>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-257</link>
		<author>lloydphilip</author>
		<pubDate>Thu, 16 Nov 2006 03:19:11 +0000</pubDate>
		<guid>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-257</guid>
		<description>You do realize that if I listen to you I will have to change the name of my blog to Phatwallet or Fatwallet...at this rate you are slowing down the chances of me from being a part of the 80% that fail at trading...which means you will have to answer to the financial powers that suck blood out of every trader that doesn't make it...You are turning into Morpheus and making us choose between the red and the blue pill?</description>
		<content:encoded><![CDATA[<p>You do realize that if I listen to you I will have to change the name of my blog to Phatwallet or Fatwallet&#8230;at this rate you are slowing down the chances of me from being a part of the 80% that fail at trading&#8230;which means you will have to answer to the financial powers that suck blood out of every trader that doesn&#8217;t make it&#8230;You are turning into Morpheus and making us choose between the red and the blue pill?</p>
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		<title>By: Glenn</title>
		<link>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-256</link>
		<author>Glenn</author>
		<pubDate>Thu, 16 Nov 2006 01:45:12 +0000</pubDate>
		<guid>http://dummyspots.com/2006/11/trading-tools-i-use/#comment-256</guid>
		<description>QuoteTracker rules, I hope they don't change much with the new owner.</description>
		<content:encoded><![CDATA[<p>QuoteTracker rules, I hope they don&#8217;t change much with the new owner.</p>
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