Trade Zone Using Spreadsheet Data
Posted: Thu Dec 27, 2007 12:21 am
I was very excited to find this website!! I use trade zones as well, but my method of calculating is a little bit different. Nonetheless, I am excited to find that other traders use "zones" as well.
I do not have access to the high powered trading platforms, so I have to get by with more manual calculations. I download from Yahoo the historical data for a year into a spreadsheet. I then create two additional columns: High minus the Open, and Open minus the Low. I then can get a pretty good idea of resistance areas before a stock turns and goes in the other direction. If it breaks through that resistance "zone", then it usually continues in that direction. I find that if AAPL breaks above or below the Open plus or minus .41, then it will usually continue in that direction.
Again, I do just use a platform like Tradestation, I just use my broker supplied intraday chart data. Therefore, I have to manually calculate my "zones".
I would appreciate any feedback on the pros and cons of manually "eyeballing" a trade zone via a spreadsheet method.
Also, I enjoyed the interview on TraderInterviews.com. That is how I found this website.
I do not have access to the high powered trading platforms, so I have to get by with more manual calculations. I download from Yahoo the historical data for a year into a spreadsheet. I then create two additional columns: High minus the Open, and Open minus the Low. I then can get a pretty good idea of resistance areas before a stock turns and goes in the other direction. If it breaks through that resistance "zone", then it usually continues in that direction. I find that if AAPL breaks above or below the Open plus or minus .41, then it will usually continue in that direction.
Again, I do just use a platform like Tradestation, I just use my broker supplied intraday chart data. Therefore, I have to manually calculate my "zones".
I would appreciate any feedback on the pros and cons of manually "eyeballing" a trade zone via a spreadsheet method.
Also, I enjoyed the interview on TraderInterviews.com. That is how I found this website.