GERI, if you are a day trader, Level II is a must....However, I have a full-time job outside of the market, so I cannot justify the extra expense, particularly only if I use it an hour a day...I use WOW5 professional edition...You will need to read some books about charting
so that you can look through 150 charts in a few hours, and identify any noticeable patterns....Then run your scans and see if any hits were given...AFter that you analyze one by one to find the best of the lot for the next day...I have 8 different short scans I run now each night on 800 stocks in my data base...In addition, I have a list of my top 50 patterns out of these 800, that I particularly watch each day. Example: I shorted XYLN at 15 3/8 two days ago, because it was on my top 50, and was right in my target area...Strong volume took it through the neckline yesterday at 15.00...
After a while, you become like a computer,you see patterns quite quickly...What I have been learning is pick the best pattern, don't toy with the the less promising....Go for the best...Regards, Mark |
