My preliminary impression of the tool is this will be a graphical interpretation of Level II information. It will show the buying/selling force of any stock and will also indicate the velocity of the buy and sells. It calculates the information by the second, shows the current stock momentum, and the actual volume of sales.
Looks good! If anyone is currently using a different brokerage platform and have something similar to this tool, please share your experience and your thoughts about its effectiveness. Would be nice!
4 comments:
I just got my update this morning.
Playing around with it right now.
Hello XMAN,
That new Scottrade tool looks very exciting. How did do today for you? I have a friend that really thinks alot of Scottrade and has trying to get me to switch. I am currently with mytrack.com.
I got into USO and PWRD today. Sold my SOLF first thing this morning. Good profit!!! Watching it for the next leg down after bounce. I decided as you to hang on to PWRD. I stayed with PWRD and USO for the weekend.
Have a good one. See you next week.
bassman,
the new tool is pretty awesome I got to see it work today and it is a graphical measurement of the intensity in buy and sell volume. Nice tool indeed!
This will probably be one of the newest indicators I will begin to rely on heavily. Time to tell if it continues to be effective. But so far, so good!
Have a good weekend.
Have you looked into thinkorswim (www.thinkorswim.com) at all?
I couldn't stand how bound I was by Scottrade's platform—TOS allows me to place bracketed OCO trades, so I can place a trailing stop buy on a stock (Buy 250 TSRA once it's gained 10 cents but only after it's lost 0.5% or hit a certain price on the day; that way, I only buy when momentum shifts, and I don't buy into any dips.) with an emergency stop set to bail out if it slams through support, and an upper-bound trailing stop that only triggers once it's hit my profit goal.
It's pretty impressive and it's entirely free. Add to that $5 trades and a bunch of studies and analytic tools, and a platform that has a CNBC feed optionally built in and it smacks around Scottrade something fierce.
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