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Registered User
Joined: 8/19/2007
Posts: 2
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What is the difference from TeleChart and Blocks?
My trading style is day trading, swing, and long. I don’t do back testing.
I also know some C# programming.
I want to:
A - Scan the NASDAQ, etc for stocks that meet my trading criteria
B – Create about 20 stock lists
C - I now use eTrade and soon will be using TradeStation
Which one is best for me?
Thanks!
Ed Ausmanas
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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It depends on your trading criteria and if you want to scan in real time.
Can you be more specific?
- Craig
Here to Help!
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Registered User
Joined: 8/19/2007
Posts: 2
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My trading criterion is a three step approach for a stock that meets my fundamentals and technical analysis. Corresponding stocks will be put on specific lists for me to scan and select during my trading days.
Step A:
First – scan all stocks for solid basic fundamentals (CAN SLIM) and classify them for long term investment.
Second - Find stocks with price/volume volatility, ATR, and other technical fundamentals (TeleChart or Blocks?)
Third – Update the stock lists depending if the market is “bull” or “bear”
Step B:
“Day Trading” or “Swing Trade” for me is to find stocks that have > 5% price swings during the day for the last 10 days (bear) or 3 days (bull). I will calculate the risk factor based on fundamentals (CAN SLIM).
Step C:
Buy one or more stocks and sell if profit is 5% or more. If stock not sold during the end of the day then keep the stock for few days. If the stock has good fundamentals keep it longer till price is >10% or more.
I have 20 lists of stocks categories. The list are classified the type of trading strategies, solid fundamentals, hot stocks, swingers, and watch list for “others” stocks.
Step A is where I am interested in using TeleChart or Blocks to scan for specific stocks that meet my criteria for price/volume swings during a range of days. Utilize ATR and other calculations to find additional stock characteristics.
I like the idea of using a modern programming language like C#.
The question is which one: TeleChart or Blocks? Both?
Thanks,
Ed
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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You can do the above in both Blocks and TeleChart.
I would review the TeleChart Software Feature Page and the Blocks Web Site and see if any particular features tip the scale for you.
There are deep discounts if you decide to use both.
- Craig
Here to Help!
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