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Trading without possessing a Charting Software
#1

I bank with BPI so naturally when I decided to do online trading I did it with BPI Trade. BPI Trade does not have a charting software so I used my resourcefulness to develop a trading system using excel.
For those with BPI Trade, they promised to upgrade their platform this coming September. While waiting for the upgrade, I would like to share how I did my trading when I started. Hopefully, this would help those who are in the same situation.
Following are my procedures:
1. Go the SMP thread where the stock you are interested in is posted. This will give you an idea of the stock’s trend -- what wave it is in, what stage in the trend. A lot of SMP members are kind enough to post their charts.

2. For the daily data on the stock you have chosen go to Silime’s thread on CSV reports. This is a daily report you can save as excel file. This will give you the stock’s Open, High, Low and Close.

3. Compute the Pivot Point, Resistance and Support Levels for the day using excel. These are the formulas based on my research:

Pivot point (PP) = (High + Low + Close) / 3

First level support and resistance:
First resistance (R1) = (2 x PP) - Low
First support (S1) = (2 x PP) – High

Second level of support and resistance:
Second resistance (R2) = PP + (High - Low)
Second support (S2) = PP - (High - Low)

Third level of support and resistance:
Third resistance (R3) = High + 2(PP - Low)
Third support (S3) = Low - 2(High - PP)

4. Using figures obtained, I observe the stocks’s movement for thirty minutes (my thirty minute breakout rule) to measure trader’s sentiment.

If it opens above Pivot Point and remains there after thirty minutes, it means there is strong sentiment for the stock and a tendency to go up. If it breaks first level resistance and continues to go up, then you can be sure you have a winner for the day.



5. Update your data everyday and read the SMP threads regularly.
RESPONSIBLE TRADING, my Advocacy, means Practicing Self Discipline, Continuously Educating Yourself, Protecting your Capital at all Times and Taking Full Responsibility for your Trading Results.

MY TRADING PHILOSOPHY:
TRADING without FEAR, TRADING without GREED. GREED causes exposure to DANGER. FEAR causes missed OPPORTUNITIES.

MY TRADING RULES:
1. PROTECT YOUR CAPITAL at ALL TIMES. 2. TRADE to TRADE WELL not only for MONEY.
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#2
senyor ninjatrader919, i deleted your other 2 topics hoki? na doble e. baka nagka system error lang Big Grin

to contribute on this thread, if you do not have a charting software, go to bloomberg.com you can do analysis and draw lines there.
buy high, sell higher!

stock market abbreviations (for newbies)
http://www.stockmarketpilipinas.com/post...g#pid11738

"when it comes to trading, i'm just barely smart enough to realize that i'm a total idiot. i might be considered stupid, but on the intelligence scale, it puts me comfortably ahead of all the dumber people who thinks they're better than me."


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#3
(07-27-2012, 07:04 AM)glenchuy Wrote: senyor ninjatrader919, i deleted your other 2 topics hoki? na doble e. baka nagka system error lang Big Grin

to contribute on this thread, if you do not have a charting software, go to bloomberg.com you can do analysis and draw lines there.

Bro Glenchuy,

I just want to share my experience when I was starting with BPI Trade. I did not have any Charting Software then. Specifically, this thread is for those with BPI Trade without any Charting Software.

I am still maintaining my BPI Trade Account for my position trades.
When I levelled up, I also obtained COL for my swing and daytrades. In addition, I also got Amibroker where I do all my technical analysis plus writing AFL's for developing and backtesting my trading system.

Incidentally, I observed that the figures I obtained mathematically using above formulas coincided with the Support and Resistance levels on a 5-minute chart. I thought this might be helpful to some of our members.

RESPONSIBLE TRADING, my Advocacy, means Practicing Self Discipline, Continuously Educating Yourself, Protecting your Capital at all Times and Taking Full Responsibility for your Trading Results.

MY TRADING PHILOSOPHY:
TRADING without FEAR, TRADING without GREED. GREED causes exposure to DANGER. FEAR causes missed OPPORTUNITIES.

MY TRADING RULES:
1. PROTECT YOUR CAPITAL at ALL TIMES. 2. TRADE to TRADE WELL not only for MONEY.
Reply


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