Registered User
Joined: 11/25/2004
Posts: 23
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Hi:
I have watched the video's. I have read a lot of the posts. I am lost. Where do I start to really understand Telechart. Everyone that responds to these posts seem to be way advanced of their understanding of using Telechart. Any guideance you can give me will be appreciated.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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See this:
What is it that you are having trouble with?
One thing to remember is that telechart is information.
You use what you need and what you are capable of.
An advanced trader may look for advanced things.
It doesnt mean that this is what should be done.
The whole idea is you must decide what you are and what
you need.
Thanks
diceman
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Registered User
Joined: 11/25/2004
Posts: 23
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I guess I am looking for the Golden ring.
I want to sort or scan stocks and choose one every 6 months or so to buy 100 shares of stock to add to my portfolia. Up until the market took a dive I was doing pretty good and was making money just by watching a stocks and selling when I made 30 or 40 percent. Then I read a book that said I should watch a stock and put in stop loss orders. Well I got stopped out in about 3 days and I was out of the market. So then I left the stocks alone and watched the market crash in October 2007 and bought stocks that were on the way down for 1/2 of what I paid for them 2 years earlier only to find out that they went down another 50 percent.
I guess I am doing all right with Telechart and it gives me what I am looking for. Thanks for your help.
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Registered User
Joined: 4/17/2008
Posts: 14
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Rpnash,
I'm still at a basic level of Telechart and believe me, I have taken a few hits on my profit. That is because I tried to keep up with all the books I read and courses I went on rather than identifiying what works best for me. You can't do it all at once! To start with, the trick is to chose one or two patterns or tactist that you are confident with and improve your knowledge on how to use Telechart in relation to those. Telechart trainers have helped me out in my chosen strategies and I am making a profit now with scans that pick out the best stocks according to my trading style.
There are always improvements to be made on every tactic but time will only tell how good they are working for you and I'm sure your advanced knowledge will come soon.
I don't want to sound like a teacher becasue I'm not but I just want to give you a boost of confidence!
Good luck!
Dragan
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Registered User
Joined: 10/7/2004
Posts: 2,181
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rpnash; Almost every question you could ask at this point will have little meaning until you have thoroughly determined what you want to accomplish. There are hundreds if not thousands of books and courses (not to mention opinions) and each of them has their own little twist or idiosyncrasy.
One of your greatest advancements will come when you forget about which indicator is best and decide what you want to accomplish...preferably in writing.
Why do I always say "in writing"? Because when you force yourself to put your thoughts in writing, you force yourself to think more thoroughly, more completely and in a much more ordered fashion. Try it; tedious, but worthwhile.
Is a hammer better? or pliers? Is a computer more useful? or your lawnmower? It all depends on what you want to accomplish. Figure that out first then the question of which indicators and which techniques will not be a difficult one at all.
Merry Christmas!
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Registered User
Joined: 11/25/2004
Posts: 23
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Thanks for the reply guys.
What I want to accomplish:
Is to identify ten stocks that are currently posting good dividends and are experiencing a slow but steady growth over the past 10 years and have weathered the downturn in the economy and are now back on the way up to where they were before the crash. Problem is that I am identifying $50.00 dollar or $100.00 dollar stocks and I can't afford them. Have been looking at Boing BA for the past two years and don't have $5,000.00 dollars to buy 100 shares.
So on the other hand I settled on Bank of America and bought it on the way down and I am still in the hole. First I bought 100 shares at $30.00 because I thought it was at the bottom then I bought another hundred shares at $20.00 and then I bought 200 shares at $15.00. Well it's been below $15.00 for quite a while and now has finally risen up to $15.33 as of yesterday. I should be rich by the time I die.
Thanks for your help guys. I will continue to plod on. Any good PCF's that you can recommend will be appreciated..
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 Gold Customer
Joined: 11/11/2006
Posts: 359
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Rpnash: I created an Easyscan for the minimum requirements on stocks. I.E. Price, volume,etc.
Sorting this list of 900 or so stocks by Dividend Yield I get 73 that pay a dividend . (NLY14.8 to EP at .4)
Use a Quarterly Linear Regression Channe and sort by Visual Slope. (40-15-15)
Just scroll down the entire list and you will most likely see something you like.
TMX, PBCT, TLM come to mind...
I am sure this forum has other ideas to help you.
Good Luck!
Mammon
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Registered User
Joined: 11/25/2004
Posts: 23
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Thanks for the reply. Just exactly what I have been doing. I guess I will learn sooner that later.
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Registered User
Joined: 5/4/2005
Posts: 1
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QUOTE (rpnash) Hi:
I have watched the video's. I have read a lot of the posts. I am lost. Where do I start to really understand Telechart. Everyone that responds to these posts seem to be way advanced of their understanding of using Telechart. Any guideance you can give me will be appreciated.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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rp;
For my way of thinking, you still have not defined what you really want or what you really want to do. 10 stocks paying dividends and yielding slow but steady growth are not difficult to find. How you intend to make use of them and why is a different matter altogether.
Telechart is the best product of its kind, so are Snap-On hand tools. I have seen a good many guys own Snap-On tools and it do them no good because they did not have a plan to make real use of them.
How much do you want to earn? In what time frame? Are you drawn to risk or extremely averse to it? Do you enjoy spending time in front of the computer or do you just see it as a tool and want to spend your time elsewhere?
These are just beginning questions to help you figure out in what way you want to approach the stock market.
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Registered User
Joined: 11/25/2004
Posts: 23
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Hi Tobydad:
You sound like my finacial advisor. Thanks for the advice. Very hard to do what you are saying. I know. Sounds like you are asking for the 10 rules of turtle trading.
1. Pick 5 markets. - Aerospace, Banking, Chemical, Drugs, Health.
2. Sizing. - Always buy $5,000.00 dollars of stock.
3. Entry point.
4. Stops
5. Exits
6. Tactics.
7. Stick to your plan even if you are making money or losing money.
8. Buy another industry if it is on the move.
9. Set parameter to stocks with large dividends and large capital and a large volume.
10. Be patient.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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rpnash
A few points:
1) You say you don't have the money for a purchase of 100 shrs
of a $50 dollar stock.
However you purchase $5000 more of BofA after your initial
purchase. ($8000 total)
So is the problem not having enough money or that you are
buying more of a losing position?
2) I don't understand why you have put forth a plan that you
cant carryout.
(one of the first rules of a plan is that we should be able to carry it out)
3) Why 10 stocks?
4) Why 100 shares?
I know what you will say. Round lots, diversification.
However we have to be what we are.
William O'Neil (Investors Business Daily) started trading stocks in college.
He purchased 5 or 10 shares.
I'm sure he would have liked to trade 100 but he knew he did not have the money.
He knew he had to be what he was.
I think you have to start thinking about what you are and what you "can" do.
Instead of painting yourself into a corner based on what you would "like".
I think you have to either hold or exit a losing position and not buy more.
If you Google: "Dividend Achievers". You will find information on the
types of stocks I think you are interested in.
Another idea is to consider high dividend ETF's or trading ETF's
in general. You will get better diversification and maybe can watch
3 or 4 instead of 10.
Thanks
diceman
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Registered User
Joined: 11/25/2004
Posts: 23
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Good advice. Thanks
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Gold Customer
Joined: 4/10/2006
Posts: 954
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I know this is not Telechart, but you can setup the same type of scan and signals
Following simple system for Weekly trading :
Using the NASDAQ 100:
ma13 week
ma26 week
ma52 week
lr12
13above26
OR lr12 above 13
OR lr12 above 26
You can tighten up some of the buys by adding AND ma52 mov up quickly.
I like the NS100 because these tend to trend better.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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rp;
When I first started looking at stocks, I was in my early 40's, no college education with an already large and growing family. I knew I needed more income and a way to build a life-long income stream (I don't believe in retirement--but that's another subject). But here's the thing, I had NO money to spare. I couldn't open an account.
I knew when I did get some money, it would be very little bits at a time (I was working as an auto mechanic). So, I knew I needed quick and safe returns that could compound with time. As a result, I looked for a system, patterns, and indicators that would help me achieve what I needed and wanted. It took me a while to figure that out; along with quite a few pages of writing down my thoughts. The more I tried to write, the more I realized many of my ideas were fuzzy ones. Putting them in writing forced me to clarify my thinking.
As I saved up small amounts, I was, eventually, able to open my first account (at that time, I couldn't find a broker that accepted smaller than $2k accounts--that took a while to save that up). In the meantime, I kept studying charts (sometimes all night--I'd look up at the clock and it would be time to take a shower and go to work) and recording my findings in a trading journal. I knew exactly what I needed and why.
So this is what I have been trying to get across to you. Diceman expressed it much better than I did (as is usually the case). You have a neat set of rules; and those are good. But to this point, I still don't have any idea of what you need, what you want to accomplish and why.
And I'm not sure you do either.
This is not meant to be criticism so don't take it that way. This is meant to be an encouragement for you to keep digging until you've hit the foundation of what you need from the markets. Then and only then will you find the right indicators, techniques and trading style.
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Registered User
Joined: 11/25/2004
Posts: 23
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Hi Tobydad:
You sound like you have gone thru the learning curve and have it mastered. What do you consider to be the most important sort or scan that you use and how do you always or 80% percent of the time buy low and sell high.
Thanks again for the post.
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Registered User
Joined: 10/7/2004
Posts: 1
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RPNASH:
Telechart can become quite complex if you try to trade using all the indicators available in it. Tobydad's advise of having a written game plan is "very important" first step, in my opinion.
Thereafter, you decide on a trade size and # of positions you want to buy and can monitor on a regular basis. You must also decide the maximum loss you are willing to take in each position and ensure that your losses(if all your positions are losers) is within acceptable percentage (2% , in my case) of your overall portfolio. Your loss limits will determine the trade size in Dollars and the number of positions you can hold at any given time.
In the beginning, I would recommend that you use only 2 to 3 indicators that you really understand and are comfortable trading with. After successful trading you may add more indicators, if you are comfortable with each one before implementation (using paper trading).
Easy scans are time savers, but there is no substitute for reading the charts---look at lots of charts each day, make notes based on your chosen indicators. I would recommend looking at the charts of the same set of stocks (viz. ; Nasdaq 100 or SP-500) every day. This way you will be able to see the behaviour of stocks after you have posted your notes and learn. I believe there is no better way of learning than this. Just my 2 cents.
Good Luck and hang in there...you will have to pay the tuition before you get your Master's degree in investing/trading. Don't be aftraid of paying this price..it's worth it!
Rick
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Registered User
Joined: 8/8/2007
Posts: 42
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Tobydad,
Hello from a fellow gearhead. My dad was a mechanic and I grew up working on cars in his garage. I don't work on cars for a living, but I enjoy tinkering with my 60s & 70s toys. I'm mostly into Pontiacs and Chevy/GMC trucks (although I'm pretty disappointed with GM right now).
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Registered User
Joined: 11/25/2004
Posts: 23
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Hi WWrightjuly4:
How do I paste any chart such as MMM on this page so you guys can help me take a look at it.. Right now I am looking at a printed copy of MMM and identifying the High point of the DOW on 10/11/07 and the low point of the DOW on 03/09/09. Hind sight always says you should have bought any stock a within a week of that day. But----how do you make a judgement now, today, when the stock is now at $82.55 from a low of $42.07 or going back to the high on 10/09/07 of $95.62. Is it a crap shoot when picking a stock that you have selected that in the long run it will go up and make money for you. Anyway give me a shout on how to copy a chart to this Blog.
Thanks
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Registered User
Joined: 1/28/2005
Posts: 6,049
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See this:
Thanks
diceman
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Registered User
Joined: 11/25/2004
Posts: 23
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Trying t
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Registered User
Joined: 11/25/2004
Posts: 23
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I can't get this copy procedure to work.
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Registered User
Joined: 11/25/2004
Posts: 23
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What does CTRL V do. What I did above here was to go to Photobucket and copy and paste. And this doesn't work.
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Registered User
Joined: 7/1/2008
Posts: 889
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control V pastes the image into the windows PAINT program.
You cannot paste directly to photobucket.
PRNTSCR basically copies the screen image, and control V pastes it. You must paste to PAINT and then you can edit the image if you wish, but then save it as an image file. You will then upload this image file to photobucket.
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Gold Customer
Joined: 4/10/2006
Posts: 954
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Once you figure the steps out the second ,third time are a breeze.
If you have an issue with one of these steps, I can expand the description. But the link Dice provided is pretty good.
1) If you have a yahoo account or a google account you can create a photo account with your current login.
Create a photo bucket account, or (yahoo) flickr, or (google) picaso, etc. Not sure about photo bucket.
Create your Chart then select
2) <ctl><alt><print screen> copy current window to clipboard else <ctl> <printscreen> gets your entire screen.
3) <start><run> mspaint
4)<ctl><v> paste clipboard to mspaint
Edit your mspaint Chart. i.e. trim, resize, add Text etc. At any point you can use the mspaint <select area> use <ctl><v> to copy the area <file> <new> "dont save" <ctl> <v> paste the buffer from previous selection and keep the area you are interested in.
5)use mspaint and clip the piece of the picture you want. <ctl> <c> copy to buffer
6) new mspaint <Dont save> <ctl> <c> paste new buffer to mspaint
7) save to file, almost finished.
8) login to your photo web site, upload picture, find the URL <ctl> <c> copy URL to buffer
9) browse back to worden ; select paste picture; paste the URL into the url edit box
10) preview, if ok post
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Registered User
Joined: 11/25/2004
Posts: 23
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Hi wwrightjuly4:
Need line by line help.
I got to Photobucket with a sample Telenet chart. What is this CTRL B and CTRLV . According to windows this is copy and paste. Is this correct. What am I copying? The chart or the http address?
Can you walk me thru this again.
8) login to your photo web site, upload picture, find the URL <ctl> <c> copy URL to buffer
9) browse back to worden ; select paste picture; paste the URL into the url edit box
Explain this please.
Thanks
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Registered User
Joined: 7/1/2008
Posts: 889
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RPnash,
Get your chart up or whatever you want to display.
1. Hit the PrntScr button on your keyboard. (this copies the image)
2. Open the PAINT program in Windows. Hit CTRL-V to paste the image of the chart you just copied.
3. Save the image file.
4. Log into your Photobucket account, and then select UPLOAD IMAGE. Upload the image. Once the image is uploaded, it will give you the direct link to the image. Highlight this link and press CTRL-C to copy the link.
5. In the worden forum, press the INSERT IMAGE button, and then paste the link to the image where requested.
You are done.
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Registered User
Joined: 11/25/2004
Posts: 23
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OK 2k9
I went to Photobucket account. Uploaded the image. Where do I find this direct link to the image that you are talking about.
Are you talking about what comes in at the top of the screen? http://s939.photobucket.com/albums/ad231/rpnash/?action=view¤t=SamplestockfromTelechart-1.gif&newest=1
This is what I get.
But no picture.
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Registered User
Joined: 7/1/2008
Posts: 889
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fine...below the image and to the left you will see a box that says SHARE THIS IMAGE and one of the fields will provide the DIRECT LINK. This is the link to the image. Copy this with CTRL C. Then in the message editor of Worden you will see a button with an image of a mountain and sun...this is the ADD IMAGE button. click this and copy the link into the URL field. (CTRL V)
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Gold Customer
Joined: 4/10/2006
Posts: 954
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Look for a section of the web page on "photobucket" like this: "Direct Link" is the url. copy that to the Worden HTML editor ... shown is the html editor after selecting the "mountain" as Ed pointed out.
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V
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Gold Customer
Joined: 4/10/2006
Posts: 954
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Below shows two different pieces for getting the url.
1) "share"
2) "Get Link" then I found the "full size" this should be the link to the full size picture of your chart.
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Gold Customer
Joined: 4/10/2006
Posts: 954
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Above shows Two methods for finding the URL on the Photo bucket web page.
"http://i939.photobucket.com/albums/ad231/rpnash/SamplestockfromTelechart.gif"
After looking I think the two places contain the same URL.
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Gold Customer
Joined: 4/10/2006
Posts: 954
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I mean Ben2K pointed out. not Ed.
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Registered User
Joined: 11/25/2004
Posts: 23
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Wow:
You guys sure know alot about using computer. Thanks for all your help. I will try another one tomorrow when I can think straight. And I can digest all that you showed me here.
Thanks again. How did you get that chart to display so nice.
Good night.
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Registered User
Joined: 11/25/2004
Posts: 23
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This is a test: Ok now I can at least show you what I am doing.
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Registered User
Joined: 11/25/2004
Posts: 23
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Sample typing just to locate cursor. This sure is difficult to copy a chart and then post it to the forum.
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Registered User
Joined: 11/25/2004
Posts: 23
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How do you write on a chart to ask someone else about it in the forum.
Once I have the chart in here I can't do anything but talk about it in the blog.
My question is. If you are analysing this company based on it growth it does not seem to be going up up and up but up very slowly. It's dividends are $2.00 which is pretty good. At what point do you buy. Do you wait for the stock to go down? You could wait forever. If you buy it today. It probably will go down tomorrow just because I bought it. Do you time your buy after a stock has risen 3 days in a row or 5 days in a row.
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Gold Customer
Joined: 4/10/2006
Posts: 954
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WMT has traded between 40-65 for the last 9 years. Buy at 40 sell at 65, would be my advice. I find these type of stocks difficult to trade, dont lose big but dont gain big. Some do find these type to work for them. Some teach a trading buddy system i.e. you find a stock and get very comfortable and you only trade that stock or 1 or 2 of them.
I would also suggest VZ and T for long term dividend buy and hold.
I am all over the place. Long time trading, big time loser. Others here seem to have a well defined method and that may have taken them some time to perfect.
I hope you have done some book reading, and you might bring that up as a topic...try to find a method that you are comfortable with and some books that persons could comment on. Because this format is difficult to convey persons personal method of trading which may not even be of interest to you as it might not fit your time, nerve or pocket book.
CAT is capital intensive like any consumer durable and trends fairly nicely, for medium to long term trading...I like the 13wk, 26wk ma, over the last 9 years it would worked pretty well for CAT. You would have traded 10-12 times. And possible could short, if you have that skill, I do not seem to possess. This would have got you OUT 8/2008 before it tanked.
UTX - would have worked well for this one also.
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Gold Customer
Joined: 4/10/2006
Posts: 954
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That should be " Industial Goods" not "consumer durables"
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Registered User
Joined: 11/25/2004
Posts: 23
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Thanks for the input. Talk to you again soon.
rpnash
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