I am looking for some fresh ideas in compiling my watch list. I am not too good at watching 100 plus symbols like some of you are-- maybe it's my age <ggg>. I do best when I have a smaller universe of stocks to watch. I am looking for some new ways at compiling my daily lists.
Matt:
I am in the process of developing a product which may interest you. As most on this thread already know, Pristine.com is in the process of buying my software company in order to acquire our expert systems technology and it's usage for short term trading. Specifically, this is the technology my partner and I have developed over the past 3+ years and have been using successfully to daytrade stocks for more than a year.
Pristine.com is a company specializing in training traders to be successful by using various Pristine methodologies, or setups, for entering short term positions. However, a frequent challenge experienced by their students is how to find stocks at the exact moment when they meet the required Pristine criteria to initiate a position. They plan to help solve this problem using the advanced expert system technology that my company has been selling to the manufacturing industries (i.e. DuPont, AlliedSignal, International Paper, Hercules, Merck, etc.) for 5+ years and have been developing for stock trading applications for 3+ years.
When completed later this year, this product (Pristine ESP) will do the following:
1) Alert traders instantaneously over the internet the moment a stock meets the criteria for any of the Pristine trading strategies. This includes the Pristine Swing System, the Gap and Snap Play, 20/20 Buy, and more than a dozen others.
2) These alerts will be seamlessly integrated into the Real Tick III platform of The Executioner, to enable a single mouse click to pull up the required level II display, charting, etc. needed to make a quick trading decision on the stock.
3) Allow the trader to select which strategies they are interested in and only be alerted to those stocks meeting the conditions of the desired strategies.
4) Note that the computer will be evaluating all stocks for potential alerts after every trade in the stock and every quote update. As a result, the alerts that are generated will be near instantaneous to the time in which the criteria was met, not 10 seconds, 30 seconds or several minutes after the trade criteria was met.
5) Enable the trader to have scans which identify all stocks meeting certain criteria. For example: 52 week high/low, most active, largest point/percent gainers/losers, stocks forming good intraday bases, stocks nearing the trigger point for Pristine trades, stocks with the greatest number of trades in the last minute, premarket stocks developing into a strong opening gap, etc., etc.
6) These scans and others will be continuously updated and maintained as market minders within the Executioner Real Tick III program.
7) Selection of the individual watchlists (i.e. market minders) to be displayed will be configured by the user.
8) Note that these scans include filters to eliminate very small or illiquid stocks. Additional 'smart' filters are used where appropriate. For example, to only show stocks meeting 52 week highs/lows if their previous 52 week high/low was at least one week old.
9) This product will require minimal (almost no) bandwidth or CPU on the traders computer. It is an client/server and event driven package, and therefore only sends data to the client (i.e. trader) program as new alerts are generated or scans updated with new stocks. All of the number crunching, CPU, and expensive data feeds are maintained on the server end.
Much of this was presented at the Pristine booth at the Expo. Basically, ESP is designed to help the short term trader be more efficient by providing an updated list of a wide array of tradable stocks in the market minder displays as well as real-time alerting capabilities for stocks meeting the criteria of numerous trading strategies.
I hope this (self-serving!) reply is not considering inappropriate. I do believe it will be a great benefit for the short term trader and is a pertinent idea for your needs.
Good luck,
-Eric |
