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Stage Analysis Beginners Questions - isatrader - 2013-02-27
It was brought to my attention in another post that people might be scared to post in the main discussion thread because they are new to the method and don't want to ask basic questions that might have been answered elsewhere etc.
So this is the thread for those kind of questions, if you've been unable to find the answer elsewhere on the site in the Stage Analysis Board or off site in the previous Stan Weinstein's Stage Analysis thread on t2w.
Don't feel you have to be shy, as we are all learning the method and are at different stages, so hopefully some of the more knowledgeable members of the method will be able to help you out.
Here's an example question for you:
Quote:Q. What free charting software can you use to create Weinstein style charts.
A. There are number of sites that are able to do it. ProRealTime lets you make charts identical to what I do on here for free, and Stockcharts is another excellent site that can create charts that are close to what the method requires, however, to create the Mansfield Relative Strength part you need to have a subscription. Chartmill has the Mansfield Relative Strength built in like ProRealTime does, but is mainly focused on US Charts I believe. The other free option you can use is Freestockcharts. I hope that helps.
So as I said above, don't feel embarrassed to ask a question on here, as one of my aims of the site is for everyone to help each other learn so that we can all do better in own own trading.
RE: Beginners Questions - goodtyneguy - 2013-03-08
From post #1 at http://stageanalysis.net/forum/showthread.php?tid=1
Stage 1 - Basing Phase. May begin accumulation.
I don't recall this in the book, is it a refinement since the book was published and what's the set up and trigger to begin accumulation?
Trialing Investor Stop Loss Orders(page 184)
go below/above the 30 week moving average in the strongest phase of stage 2/4 of the move, any thoughts on how far below/above?
.
RE: Beginners Questions - isatrader - 2013-03-09
(2013-03-08, 01:37 AM)goodtyneguy Wrote: Stage 1 - Basing Phase. May begin accumulation.
I don't recall this in the book, is it a refinement since the book was published and what's the set up and trigger to begin accumulation?
This is part of the newer definitions of the Stages taken from the Global Trend Alert Newsletter than Weinstein does for institutional investors. Unfortunately we don't have any additional specific information other than some passing comments in the recent interviews on the Financial Sense Newshour. Here's the link to the four interviews since November 2011 if you haven't heard them: https://www.financialsense.com/contributors/stan-weinstein
So there's no setup or trigger that was mentioned, only that longer term investors can start to average into positions once in a stable Stage 1 range. And also more aggressive traders are allowed to make short term plays within the broader range, but again we have no specific criteria for how you should play it.
(2013-03-08, 01:37 AM)goodtyneguy Wrote: Trialing Investor Stop Loss Orders(page 184)
go below/above the 30 week moving average in the strongest phase of stage 2/4 of the move, any thoughts on how far below/above?
Again, this is not specific, but if you place your stop below the 30 week SMA that he is suggesting for an investor stop, then even a close stop to that would likely be a long distance from the majority of the price action in a Stage 2 range. So it's always a judgement call and you should also consider other previous support and resistance levels nearby. As if they are close, then it should also go below those as well imo, to be safest. Sometimes you'll get whipsawed out of a position, but I believe he said that you should continue monitoring it and be willing to get back in if it makes a continuation move following a whipsaw.
RE: Beginners Questions - goodtyneguy - 2013-03-09
(2013-03-09, 01:19 AM)isatrader Wrote:(2013-03-08, 01:37 AM)goodtyneguy Wrote: Stage 1 - Basing Phase. May begin accumulation.
I don't recall this in the book, is it a refinement since the book was published and what's the set up and trigger to begin accumulation?
This is part of the newer definitions of the Stages taken from the Global Trend Alert Newsletter than Weinstein does for institutional investors. Unfortunately we don't have any additional specific information other than some passing comments in the recent interviews on the Financial Sense Newshour. Here's the link to the four interviews since November 2011 if you haven't heard them: https://www.financialsense.com/contributors/stan-weinstein
So there's no setup or trigger that was mentioned, only that longer term investors can start to average into positions once in a stable Stage 1 range. And also more aggressive traders are allowed to make short term plays within the broader range, but again we have no specific criteria for how you should play it.
In the absence of any further info I am giving this one a miss.
EDIT: On second thoughts, if I were looking for an investor position then choosing a stock in stage 1 paying a good dividend with a stop below the bottom of the base may be the way to go. Perhaps price holding above the 200 dma could be the trigger to start accumulating.
RE: Beginners Questions - Sapphire - 2013-04-07
Is there a software where one can automatically pull picks based on a predefined range. I see alot of sites where you can do this on specific crossover events. Is that possible with the Weinstein method?
RE: Beginners Questions - isatrader - 2013-04-07
(2013-04-07, 09:06 AM)Sapphire Wrote: Is there a software where one can automatically pull picks based on a predefined range. I see a lot of sites where you can do this on specific crossover events. Is that possible with the Weinstein method?
There isn't any software capable of identifying the Stages accurately as it requires a number of discretionary elements, as you will find as you learn more about identifying the Stages. You can however, set up scans in various software programs to filter out a lot of the stocks that aren't suitable and then manually look though the remaining stocks to pick out the candidates that are making the right moves.
I like to use point and figure double top and double bottom breakouts on Stockcharts.com scanner, as this gives all of the breakouts and breakdowns each day, and then I scan through for anything suitable. Another site, Chartmill.com, has it's own method of defining ranges, which can also be used effectively, as you can look for stocks close to the top or bottom of their ranges using their scanner and then manually search the scan results for the Weinstein method candidates.
Another simple, but easy to find option is 52 week highs and lows. Barchart.com has these and you can again scan through these manually to find the best picks.
Because identifying the Stages can't be automated, that's one of the reasons for this site, as through collaboration of the members, I hope in time that we can highlight the majority of the Weinstein method candidates ahead of time in the Trader and Investor method watchlist threads.
RE: Beginners Questions - Sapphire - 2013-04-10
Is it me, or is dojispace super slow?
RE: Beginners Questions - isatrader - 2013-04-10
(2013-04-10, 03:18 AM)Sapphire Wrote: Is it me, or is dojispace super slow?
It wasn't a scanner that I'd seen before. But yes it seems slow and doesn't offer much for Weinstein's method other than MA crossovers which can be done and more in most of the other scanners that were on the list that goodtyneguy posted here: http://stageanalysis.net/forum/showthread.php?tid=8&pid=421#pid421 from the old trade2win thread.
As I said before, I wouldn't worry too much about scanners at the moment. The most important thing to do is to learn to identify the four major stages at a glance imo, so that you can easily pick out the stocks with the most potential when manually looking through your charts.