Thursday, December 21, 2006

When Subscribers Talk: Listen and Deliver


This month marks the end of the second year of this blog. Our first post was in December of 2004.

In recognition of this milestone it's only appropriate that I share with you the details of several new filters that will be operational early next week. After all, these new features and improvements to Trade-Ideas, based solely on the feedback of our subscribers, is one of the common threads of this blog.

Updated: What's Here!

Min and Max Distance from Inside Market

This filter came from institutional customers using The OddsMaker. The filters compare the last print for this stock to the best bid and offer.

If you set the max to 0, you will only see stocks which were trading at or between the bid or offer at the time of the alert. If you set the max to 0.1 you will only see stocks which were trading no more than one tenth of one percent above the offer and no more than one tenth of one percent below the bid.

This separates legitimate prints from bad prints. The further the print was from the inside market, the less reliable the alert is. This is especially helpful when used with The OddsMaker. The OddsMaker uses the price of the last print as the entry price for the trade. This is only useful if this was a print that you could actually get. The closer the print was to the inside market, the more this is as an entry price.

Min and Max Put/Call Ratio

We've long heard the requests from subscribers for optionable stocks. Recent changes to our data vendor and other forces now permit us to deliver the goods.

These filters allow you to select stocks based on the number of puts and calls purchased today. Set the minimum put/call ratio to 3 to see only stocks with at least three times as many puts as calls. Set the maximum put/call ratio to 0.5 to see only stocks with at least twice as many calls as puts.

You can also use these filters to find optionable stocks. If you only trade options, set the minimum put/call ratio to 0. This will show you all stocks which have had any options activity today. If you want to see stocks with no options or illiquid options, leave both of these filters blank.

Min and Max Position in Lifetime Range

I wanted to name these the WallStrip filters but got vetoed (sorry Howard). These filters are indeed evidence that the squeaky wheel gets the oil - one of my personal mantras as a consumer myself.

These filters compare the current price of the stock to the stock's history. This range is fixed at yesterday's close. The range goes back 10 years or the lifetime of the stock.

Select a minimum position of 100 to see stocks which are trading higher now than any time in the previous 10 years. Select a minimum position of 95 and a maximum position of 100 to see stocks trading near that level. Select a maximum position of 0 to see only stocks trading for less than any time in the last 10 years.

All these filters are in the testing mode and the finishing touches will be completed by Tuesday or so next.


Footnotes:
  • No matter which platform you use (e.g., browser, TI Pro, Scottrade ELITE), you can already access the new items - new alert and filter innovations like these are automatic to subscribers because both applications make a "call" to our servers for the latest list whenever someone interacts with our alert window settings via 'Configure'. When we add them, you receive them instantly.
  • Users of Trade-Ideas Pro are encouraged to download the latest version of the application. This is unrelated to the new alerts or filters. Instead a download of the latest version of the application is necessary to benefit from other aspects of the service, like minor visual enhancements and background "plumbing" maintenance that keeps the service as fast as possible.

6 comments:

Anonymous said...

I do not see these new updates (December 23).

D TradeIdeas said...

Hi. These new filters are being tested this weekend and will be available sometime next week - hopefully earlier than later. Thanks for your post!

Anonymous said...

Trade-Ideas and the Odds Maker is a scam!
They are using the Odds Maker to get others to find the best trading strategies that they record the results for.
Why develop a winning trading strategy when you can get others to develop them for you. At $1,000 for the tool, Trade-Ideas should be paying others to use it since they are recording the results of those who use the tool!

These results are recorded the same as the daily scans of others are recorded. Please see the folloing Trade-Ideas page for an example:
http://www.trade-ideas.com/StockInfo/_ScreenerRecentScans.html

This page represents recent scans made by other traders. These scans are recorded and retained by Trade-Ideas the same as the trading strategies you develop using the Odds Maker.


The Odds Maker does not select entry or exit points, nor does it eveluate risks. In fact, it does not contain the requisite flixibility to adjust to changing market conditions. Therefore, you are forced to constantly update any strategy that you develop using the Odds Maker. The Odds Maker is nothing more than trading spyware! Don't give up your trading strategies to anyone!

D TradeIdeas said...

Your accusations are false but do serve a positive outcome. As a result of your concerns, we will make public a privacy policy that has always been in effect at Trade-Ideas: we neither access or share a subscriber's settings with anyone - ever. Look for this privacy statement to appear on our main website soon.

Our subscribers' privacy, like their trust, is the only coin of the realm. It's the reason behind our successes and the success of our subscribers (e.g., Testimonials and sources).

The comments about The Odds Maker indicate that there is confusion about how the tool works. Despite your accusations if you are still interested in learning about the tool, I am happy to extend extra time/credit to you on The Odds Maker in the hopes that you understand how the tool evaluates risk and selects entry and exit points to generate the probability of a strategy's success. Simply email me at david"at"trade-ideas.com

Anonymous said...

I did test out the latest additions to filters. Had one quick question on the lifetime filter. When I set it to give me stocks that are valued highest in the last 10 years, I got hits for companies that were listed on Nasdaq for less than 10 years??

Is there a way to modify this alert so that it first checks to see how long a perticular company is listed in the market and then runs the filter criteria.

Thanks....

BTW I hear rumors that you would be bought by Scottrade guys?

D TradeIdeas said...

The following is an excerpt from our definition of the Liftime Range filter:

"The range goes back 10 years or the lifetime of the stock."

Currently we don't explicitly have the information you asked for in the filter. But there is a way to see it.

Choose the Lifetime Range filter and pick the New High or Low alert with the alert-specific filter set to 365 days. If you use TI Pro you'll be able to see in the Quality column just how High or Low the alert is.

As for your rumor Scottrade is only a partner of Trade Ideas LLC and licenses our software for their active trading platform Scottrade ELITE.

Thanks for the question!