Yeh I know what you mean. Not sure about the paid plug-ins etc, but not for me at this stage as I'm still discovering so many different approaches and narrowing down what I find useful to compliment the Wyckoff/VSA method I'm focussing on. Sort of half a case of not knowing what I need until I learn about it and try out a few different things to achieve it, and half once you know what you need it seems most of the indicators etc have already been written and available freely- or I don't need an indicator for something at all because the clouds part and suddenly I can see things that were there all along.
Fun stuff. So much to improve on, but all I know is that I'm 1000 times better than I was 6 months ago and I'll be another 1000 times better in another 6 months!
As far as platforms go, there's no doubt plenty out there that have all the bells and whistles, but I was looking for charting functions as a priority. Some of them like Meta Trader MT4 have good charting and also sophisticated and mature trading and automated trading functions (which I don't need) and Incredible Charts always comes up when talking good charting platforms, but I chose Trading View at the time because it did and still does more than I need it to and there didn't seem to be anything at better value. I first used charting on Yahoo and Commsec before swapping to Saxo which has OK charting but very quickly they all became too basic and limited. But I've found people tend to recommend what they have been using and have become familiar and comfortable with and I'm like that with TV now! For full blown systems I see that a lot of the Wyckoff/VSA people around the threads use a platform called Trade Guider, which is specifically made for this style, but again I don't feel like I'm ready for that sort of commitment until I have a ninja level understanding of the underlying method.
Screening is something I need to get more efficient at- again I'm getting better now that I am more specific in what I am looking for, and the scans have become more simple. I'm looking first for a sector that is outperforming the index, then companies within that sector that are outperforming or have the potential to outperform that sector. For me they typically need to be $100M MC and above, 1M plus traded per day, typically 40c to $5 SP and with a history of volatility to allow lots of entry points etc. Pretty simple, then they go in to a watch list and I become patient. That's how I found MYX. But now I'm better at reading charts and have a bunch of indicators to tell me certain things, I can use Trading View to whip through the watch list really quickly and stop at a chart which looks like something is happening or about to happen. They are then the ones that I'll set alerts for in a special "flagged" watch list Trading View provides.
So I know what you mean by missing golden opportunities, but I'm actually finding there are lots of opportunities out there, but sometimes I'm too slow, or cautious, or second guess myself and therefore miss out. It's something I hear even experienced traders and investors scolding themselves about, but again can only work to improve that side of things as well and get more confident as my method develops and requires less and less arbitrary input from me!
Apologies for long off-topic post - but I did mention MYX in there somewhere!![]()
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Mkt cap ! $337.7M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 500 | $3.97 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.69 | 21 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 500 | 3.970 |
1 | 500 | 3.960 |
1 | 500 | 3.950 |
3 | 2342 | 3.940 |
2 | 628 | 3.930 |
Price($) | Vol. | No. |
---|---|---|
3.690 | 21 | 1 |
3.760 | 21000 | 1 |
3.780 | 853 | 3 |
3.970 | 410 | 2 |
3.980 | 500 | 1 |
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