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colin_twiggs

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Post Number: 2790
Registered: 09-2002

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Votes: 0


Tuesday, February 13, 2007 - 08:51 am:

A question received from a new user:

Hi, Thanks for the replay. I am sorry I looked around but I don't see enough things to tell me what's the "incredible" about? Please enlighten me.

We would appreciate some honest feedback. Do we live up to our name?

Regards, Colin

eric

Member

Post Number: 78
Registered: 09-2006

Rating: N/A
Votes: 0


Tuesday, February 13, 2007 - 09:42 am:

Colin, I think IC is great. I have used MDS for a long time, much more expensive, a lot of indicators which are quite complicated. IC provides most things that I want at a very reasonable cost.

Eric

Time frame: as long as it takes

hilarius

Member

Post Number: 2080
Registered: 04-2004

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Votes: 0


Tuesday, February 13, 2007 - 10:19 am:

Colin

It is difficult to provide feedback which would be relevant to a person who has maybe only had a very cursory look at what IC offers

One wonders what he/she is seeking

Apart from my online broker for live course of sales and live intra-day charts I now rely totally on IC for my chart access and tools for technical analysis

It is always possible, and sometimes good, to dream of what might be done in the future

If I could click on an IC 1 minute chart to bring up a buy/sell order with market depth displayed and place my order right there and then for entry into the live market (with or without leverage :-)

) it would be close to "Utterly Incredible"

In the meantime I am fully satisfied with just "Incredible"

With Best Wishes

Hilarius

I come in peace to share my thoughts and to shine my candle light on possible long term opportunities

stickman

Member

Post Number: 1066
Registered: 06-2004

Rating: N/A
Votes: 0


Tuesday, February 13, 2007 - 10:37 am:

HI

whats in Incredible ? the whole package

charts
forum
service

hey if one was to spend sometime reading through the forum they would find some gems on how to trade , problem is most want it served on a plate

cheers

Trade to Learn, Not to Earn.

when you lose,don't lose the lesson.

macca888

Member

Post Number: 113
Registered: 10-2002

Rating: N/A
Votes: 0


Tuesday, February 13, 2007 - 11:07 am:

G'day Colin and new user

"Incredible" is just part of a name of this very cost effective package of charting module, scanning module, forum and support.
IC occupies a niche. Horses for courses.

There may be charting packages around with more bells and whistles but I don't use most of the indicators in IC anyway.
One of the biggest advantages for me of IC is the maintenance of the database to which I have to contribute nil effort.

Perhaps "new user" could mention what he has found and how he would use the "incredible" facilities of similar packages to IC.
If IC is not incredible, then what is (in the opinion of "new user")?
In other words what would make this package "incredible"?

888

"Buy low, sell high is a cliche, not a blueprint for action. It blinds investors to the professionals' approach of buying high and selling higher." Stan Weinstein

"A prudent speculator never argues with the tape. Markets are never wrong - opinions often are". Jesse Livermore

"The only sound reason for buying a stock is that it is rising in price.
If that is happening, no other reason is required.
If that is not happening, no other reason is worth considering".Nicolas Darvas

ingot54

Member

Post Number: 1667
Registered: 05-2004

Rating: N/A
Votes: 0


Tuesday, February 13, 2007 - 12:23 pm:

One can only conclude that the enquirer has had no experience whatever in trading or charting.

I have another sophisticated charting programme but I choose to use Incredible Charts for its user-friendliness, as well as the click-and-go customisable interface.

Support via a forum is first-class. I would have to say that after being a member for a short time, you begin to feel as if you know the manager and other forum members almost personally.

The customisable add-on indicators, time frames, candle/point-and-figure charts + more, and the sheer encyclopaedia of definitions accompanied by most common use, or reasons for use etc make the whole package Incredible - no doubt at all.

There is not another product out there to compete, and this one is free.

I have to conclude that the enquirer has no idea what is actually in the package - he does not know that he does not know.

I do!

I suggest to the newby that he give IC another chance.

It is only when you use the features (and remember they are free) and actually make a couple of contributions or pose questions to the forum, use the stock scan or search facilities, and compose a few charts for yourself, that the lights will come on.

Give us another chance - we are definitely worth it!

Keep Smiling - Don't look back

Trading style: Chartist Artist _ Breakouts and Shakeouts.

captain_chaza

Member

Post Number: 2422
Registered: 02-2003

Rating: N/A
Votes: 0


Tuesday, February 13, 2007 - 12:39 pm:

Ahoy Admiral Col'n

Have you dropped the 30 day Free Trial?

If not? then What a "Silly" questionaire

This leads me to question the mental state of this "New" prospective member

Sorry but at my age I am too busy getting my own ship in order each day than venture into "Silly Pedantics"

Salute and Gods speed
Capn

PS 4 years Loyal Service Says Enough

"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.

"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893

"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897

macca888

Member

Post Number: 114
Registered: 10-2002

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Votes: 0


Tuesday, February 13, 2007 - 01:35 pm:

G'day again Colin

It would seem that the motivation of "new user" was to get members/Colin to help him/her find all the "incredible" parts to IC.
I that case I would reply "enlighten yourself" by joining the forum and asking for help. Most of us here are not paranoid and are only too happy to help with genuine questions.
But first a genuine effort has to be made.
The pity about this thread is we are not getting any feedback from "new user".
Am I talking to myself again?

Then again, if I was paranoid, I may think Colin has put up a "Dorothy Dix" question.

Anyway, thanks again Colin for the incredible FREE upgrade including the customisable toolbars and additional drawing tools.

888

colin_twiggs

Member

Post Number: 2793
Registered: 09-2002

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Votes: 0


Tuesday, February 13, 2007 - 04:11 pm:

Macca888,

No. It is a real question.
But I was fishing for feedback on a specific development objective: How do we rate on ease of use? It received two mentions, but I believe that we can still do a lot better.

Regards,
Colin

captain_chaza

Member

Post Number: 2425
Registered: 02-2003

Rating: N/A
Votes: 0


Tuesday, February 13, 2007 - 05:49 pm:

Ahoy Admiral Col'n

I know you can do a lot better!

If You want the truth?
I'll give it ya (As Duuggie would say)

Not ONE of my suggestions has ever seen daylight!
Good luck Duggie with your dream of VWAP on IC

I can't even get a vertical line to line up all my indicators? This should be Fundamental!

I can promise you, There will be a very strong "Protest" if the VWAP comes in ahead of my Vertical drawing tool!

Anyway I have lost patience and have ordered the RR $2000 programme with a $1000 /year charge for Data!
"Data is everything!"

Surprisingly enough?
After all these costs
This so called Rolls-Royce programme can't do a few things the IC package can do and is therefore still "a must have"

AMAZING!!(Please Don't ask me about this! Just Dig for it)

Confidentially I feel IC has lost its way over the last few years after the introduction of advertising monies and has concentrated on the Chat Forum in lieu of Technical advancements

This Larconic/Lack-Luster approach to the betterment of Technical Analysis has just positioned IC as an important Add-On in my opinion

I repeat
Incredible Charts is an Incredible Package but best used as a Plug-in for the Professional user

For only $180/year "It is truly Incredible that these high priced ($2000) packages can't do what IC can do?

That is "Incredible" and
Hence "Incredible" is still apt

Salute & Maybe I'll see ya in the Sin-Bin?
Capn

Crikey! I hope I have not been TOO honest?

(Message edited by Captain_Chaza on February 13, 2007)

fibonacci

Member

Post Number: 180
Registered: 10-2003

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Votes: 0


Tuesday, February 13, 2007 - 07:12 pm:

It's INCREDIBLE value.

Sure there are extras I'd like but on balance it's the value!

It all depends on one's needs really.

When my supposed 512 Broadband is slow [how does that work?
it can be frustrating but when I remember other software would have data costs [alone] at least twice the total cost of the premium version, I also remember that one of the ways to be profitable is to cut expenses that are unnecessary.
I don't need live intra-day data but am very happy with hourly updates on AUS stocks to review my watchlist for the day [I usually avoid trades in first hour anyway].

Still hoping, of course, for similar treatment of UK and US stocks. I noted that this wasn't on your "complexity" list Colin. Where would it fit in?

That does not ruin the INCREDIBLE VALUE!

I agree with previous posters, this is just a facet no one else has mentioned.

John

You've got to
know when to hold 'em
know when to fold 'em.

dug

Member

Post Number: 2180
Registered: 07-2005

Rating: N/A
Votes: 0


Tuesday, February 13, 2007 - 07:16 pm:

CC,chum,
YOU have to tell them what THEY need.It's a bit rich,mate to denigrate the Forum function when YOU have maintained an attitude of NO PRODUCTIVE Chart/TA wise Chat.
I don't go along with this attitude that TA is d'Wonder.To me it's the Market,the Share Market that one has to understand,get in to.
That is the constant,d'Constant State of Flux.That is [the Market]that is constantly Out Doing any Indicator,most of which are lagging,"aids' to what one's eyes should See and Guage at a Blink.
I can see how a vertical line down thru the Indicators May Help in Chart Reading but I have never seen any ANY posts by you,CC,that would help do d'CONvince.
So I'm really looking forward to you,CC,joining in Argument,Replying to Contra Points,Setting out Viable Parameters.
Yeah,I'd rather see that than posts by d'Prat who laid this question on us.
Whatta ya reckon is INCREDIBLE,dude?What do you expect to be FREE??

Happy Trading.

tick [1] VWAP in the upcoming "Whata we Want" subscriber poll of additions to d'Value 4 $'s IC chart programme.
VWAP is d'Tool of Professionals,TRUE!!

philr

Member

Post Number: 121
Registered: 04-2004

Rating: N/A
Votes: 0


Tuesday, February 13, 2007 - 07:54 pm:

I think the forum is a valuable part of the package. Even though its free I think its information is a lot better than a few other stock forums around.

One addition I would like to see at some time is provision for a daily chart. I am sure there are a lot of day traders that use this forum. A daily chart with per trade or minute or at worst hourly updates.

At present I use Comsec Protrader 1 for daily charts I would much prefer to combine all my charts into a specialised package like IC. Pro Trader 1 tends to be a little buggy at times. I do use Protrader 2 (which is stable) I use this as my main trading platform but the charting in that is fairly basic.

Phil

ohkoolnutz

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Post Number: 522
Registered: 10-2005

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Votes: 0


Tuesday, February 13, 2007 - 09:42 pm:

IC is incredible value for money! It's certainly a good way for newcomers to get their feet wet without spending a fortune in start-up costs.

---
ohk

Lies, Damn Lies and Technical Analysis

captain_chaza

Member

Post Number: 2426
Registered: 02-2003

Rating: N/A
Votes: 0


Tuesday, February 13, 2007 - 09:42 pm:

Crikey!
Welcome to the real world

The best of End-of-day data will cost you ~$600 -$1000/year
depending on the number of markets you decide to download

Sure you can get data a lot cheaper
Just subtract all what I call fundamental data
eg
Oil Gold Copper Nickel etc etc etc etc etc etc etc etc etc
US$ AUD$ etc etc etc etc
Etc etc etc

Or you can do it on the cheap and only pay for the data of the Dow Nasdaq and All Ords if that is all you need or you think you need?

Intra day data is another ball game
Most platforms will cost you at least another $1000/year

Get real!
For what you get with IC for only $180 is "Incredible"

Sure, at times you will have to deal with a Disfunctional Forum of Ego Maniacs but nobody can complain as this is all Free! and at No extra cost!

I just turn the forum off for a while and wait for the Storm to pass overhead
What a great barometer this forum is in times of Rough Sea and Gale! LOL!

Salute and Bon Voyage
Capn

philr

Member

Post Number: 122
Registered: 04-2004

Rating: N/A
Votes: 0


Wednesday, February 14, 2007 - 07:39 am:

cc

If you don't ask you won't get it. Colin has asked for feedback well that's what I am giving. I am not being critical of IC that's what you seem to be implying.

I did say at worst hourly updates. We already get that anyway so would it be possible to put it into a daily chart.
(I would obviously like to see smaller increments in the chart.)

IC is a charting package so I consider it to be a reasonable request. I already get that information from another source and don't pay for it.

I don't intend to be bullied by you.

Phil

colin_twiggs

Member

Post Number: 2795
Registered: 09-2002

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Votes: 0


Wednesday, February 14, 2007 - 12:05 pm:

Philr & Others,

We do plan to introduce intra-day charts. It is just a matter of setting priorities. I have been promising to survey premium members about their requirements (what they feel our development priorities should be).

There is a lot that we want to do, but it will take time to complete -- so the best way of establishing priorities is to put it to a vote.

Regards,
Colin

baigferoze

Member

Post Number: 1
Registered: 02-2007

Rating: N/A
Votes: 0


Thursday, February 15, 2007 - 02:30 pm:

Everything is great but I trade in futures. Please include US commodities .

julles

Member

Post Number: 1758
Registered: 01-2003

Rating: N/A
Votes: 0


Saturday, February 17, 2007 - 01:43 am:

Honestly, it's the charting package that I refer to daily, I have an intraday provider that I also subscribe to, but it is limited on memory/trends.

Colin get intra day up to date and I'll support paying more for the package.. Julles

ohkoolnutz

Member

Post Number: 529
Registered: 10-2005

Rating: N/A
Votes: 0


Saturday, February 17, 2007 - 09:20 am:

Colin,

if you start increasing price because of intra-day features you may be changing the business focus and clientele of IC.

Your EOD trader will not receive any additional value out of the faster time frame and hence it would be difficult to argue why they should pay more.

Simply giving all traders the opportunity to day trade does not provide value; it only provides an option of value. We know many options expire worthless.

Are we under an illusion that IC will one day provide live data at AU$25/month?

I condone all data time frames and various exchanges to be offered by IC because I believe your customer base could be global and diverse. I wish pricing to be structured by exchange and by time frame so that you pay for what you use. This may not be possible because the people you buy data from don't know what their customers want and are willing to pay for, or they may think it is uneconomical, or it in fact may be uneconomical.

---
ohk

Lies, Damn Lies and Technical Analysis

woody

Member

Post Number: 1
Registered: 08-2003

Rating: N/A
Votes: 0


Sunday, January 27, 2008 - 03:54 pm:

Hi Colin,

I have been a paying member in the past, and found it incredible back then. Recently I have not traded as frequently.

I am still interested in the when the stock screen upgrade will be complete.

Cheers

colin_twiggs

Member

Post Number: 3101
Registered: 09-2002

Rating: N/A
Votes: 0


Tuesday, January 29, 2008 - 04:57 pm:

Woody,

We are making slow progress at present. When completed, the expanded stock screens will only be available to premium members.

Regards,
Colin

nihonjin

Member

Post Number: 31
Registered: 05-2007

Rating: N/A
Votes: 0


Wednesday, February 13, 2008 - 04:48 pm:

Hi Colin,

Incredible Charts is a comprehensive charting package and easy to use. The support and advice is the incredible part.

I've pumped enough suggestions forward which I think would improve the program, but they are personal wishes. On a more general tone I think that Incredible charts needs to move beyond being just a passive charting package.

I would like to see a number of calculators available so users can establish counts (P&F), make risk/reward estimates and generally manage their accounts.

The market wins because it has an edge! Traders blink first.

colin_twiggs

Member

Post Number: 3115
Registered: 09-2002

Rating: N/A
Votes: 0


Wednesday, February 13, 2008 - 05:35 pm:

Nihonjin,

Thank you for the excellent feedback. Many of your suggestions are on our To Do list. Unfortunately, because of the development time, it may take several years before we can tick all the items off as completed.

Regards, Colin

philr

Member

Post Number: 361
Registered: 04-2004

Rating: N/A
Votes: 0


Wednesday, February 13, 2008 - 10:14 pm:

Hi Colin

Here's one I would like intra day charts even if they were just the hourly updates that the pro members get.

In addition if we are going to have intra day, multiple intra day would be best.

Another suggestion is a slider bar for viewing charts. Sometimes if you want to view a chart from several years back the image is too small to view clearly over a long time frame. So then you have to click for ages until you get back to that area from a smaller time frame chart.

These are non-urgent items but would be handy.

Phil

** Let blockheads read what blockheads wrote.
Warren Buffett

sway

Member

Post Number: 146
Registered: 12-2005

Rating: N/A
Votes: 0


Wednesday, February 13, 2008 - 10:19 pm:

Phil, just use the left arrow button to scroll backwards in time. It's pretty fast, and you can set the interval using Shift-F3 >> select number of days to scroll

Sway

philr

Member

Post Number: 362
Registered: 04-2004

Rating: N/A
Votes: 0


Wednesday, February 13, 2008 - 10:48 pm:

Hi sway

Thanks for that tip that does speed it up.

Phil

** Let blockheads read what blockheads wrote.
Warren Buffett

maxima

Member

Post Number: 24
Registered: 11-2002

Rating: N/A
Votes: 0


Monday, June 23, 2008 - 06:50 pm:

Colin and others,

Last weekend I read the following response on a popular share trading website forum following a post that opined that IC was an excellent package:

"I wouldn't say it's excellent, I'd say very average with a number of errors. We ran it through some tests recently for the website, I wouldn't rely too much on it."

And later from the same poster:

"...regardless of my thoughts on most indicators, any indicator is only as accurate as the data it's reading, when that data is flawed so is the indicator. Their (IC) index data is still on the old seats system (changed ages ago, they really should wake up) and a lot of the testing we did across Australian equities has numerous flaws, bhp as an example had a number of errors, enough to throw it's 200sma out by a significant margin.

its x axis isn't scaled correctly which kills any time based analysis and it only has very basic simplistic tools.

If you just want a chart that you can look out and say, yep it's trending up, down whatever then the software is fine. If you want something that you can use to accurately analyse then no way would I recommend it to anyone.

if you want something you can use it will cost, otherwise google will throw up plenty of them.
For data more accurate than most look to an Iress feed."

I have been away for a while, but I very much doubt if this poster had the decency to first raise his concerns here and obtain a response to his criticisms as he is one of those self-proclaimed TA gurus and seems to relish adoration from those who dote on his every word.

However, be that as it may, he does seem to have considerable TA knowledge (based on other posts ...oh, he also claims to be a contributor to a trading newsletter etc.) and I am curious to know how Colin and other knowledgeable posters would respond to his comments.

Cheers,
Max.

captain_chaza

Member

Post Number: 3220
Registered: 02-2003

Rating: N/A
Votes: 0


Monday, June 23, 2008 - 07:35 pm:

Ahoy Max

Has there been any changes in Irres lately

I chucked her overboard a few months ago

Crikey! I hope I wasnt too hasty?

Each to their own I guess? Hey?

I suppose an Example chart would show something to someone?

BUT PLEASE Don't do it for me

Once I chucked Irres overboard she will remain overboard
whilst I am skipper

Salute and Gods' speed

philr

Member

Post Number: 418
Registered: 04-2004

Rating: N/A
Votes: 0


Monday, June 23, 2008 - 10:16 pm:

Maxima

He may have had his own agenda for bagging out IC

Phil

** Let blockheads read what blockheads wrote.
Warren Buffett

colin_twiggs

Member

Post Number: 3187
Registered: 09-2002

Rating: N/A
Votes: 0


Tuesday, June 24, 2008 - 11:22 am:

Max,

Thanks for bringing this to our attention.

ASX Data is provided by Premium Data who we believe to be the most accurate source available.
Our indicators are also tested against other benchmark software, such as Metastock, before release.
We would appreciate a copy of any tests done with BHP or index data so that Premium Data can be given the opportunity to respond.

Regards,
Colin

ausman

Member

Post Number: 1
Registered: 12-2007

Rating: N/A
Votes: 0


Saturday, June 28, 2008 - 09:15 am:

Colin

Thanks for a fantastic service. I use IC daily and I am very satisfied with its ease of use.

However, one problem I do have is when using the Screening Function to identify after 10 days when the RSI (70/30) crossed from below (to above)the 30% oversold line on a Bull market setting within the last (2) days.

When I sort the stocks with % Price Movement I get 28 stocks all of which have a negative % (from -3% to -35%). Why can't the search identify the many positive % movements such as all the resource stocks.

What am I doing wrong?

Regards

Ausman

captain_chaza

Member

Post Number: 3283
Registered: 02-2003

Rating: N/A
Votes: 0


Tuesday, July 15, 2008 - 05:06 pm:

Ahoy Admiral Col'n

I notice once again that you are not using IC Charts in your Newsletter and therefore by definition you agree with me that "DATA is Everything"

I can only assume that you have checked these figures out vigorously for accuracy?
ALSO
I can only assume that you feel that all your IC indicators and Turnover are a waste of time?

Have you ever tried to do what you do with IC Exclusive Charts?

I love your Charts (IC CHARTS) and respect them as the "World's Best" but I do not respect your copy/paste cheap versions you use in you Newsletters

This is Honest Feedback! IMHO!

I know that "Data is Everything"
but
copy/paste data from where-ever and when-ever without a last date documented is Nothing! IMHO

Crikey! You could be a day or even 2 days behind by the time your Newsletter is posted?

Sorry Admiral but that is as Honest as I can be!

Salute and Gods' speed

colin_twiggs

Member

Post Number: 3197
Registered: 09-2002

Rating: N/A
Votes: 0


Tuesday, July 15, 2008 - 05:23 pm:

CC

Thanks for the honest feedback. I agree that data is everything and we have been working on new forex and precious metals datafeeds for some time. We are making good progress but it will still be a few months before I can replace the current NetDania charts in the newsletter.

Regards, Colin

maxima

Member

Post Number: 25
Registered: 11-2002

Rating: N/A
Votes: 0


Wednesday, July 16, 2008 - 12:09 pm:

Considering the issue of data, I must say that I was expecting a more robust response from Colin to the alleged deficiencies of IC as per my previous post.

I love the presentation, tools and ease of use of IC but I'm with the captain when it comes to data accuracy and reliability. Without those, it is just a nice toy.

Regards, Max.

colin_twiggs

Member

Post Number: 3200
Registered: 09-2002

Rating: N/A
Votes: 0


Wednesday, July 16, 2008 - 03:43 pm:

Max,
I believe that our data is the most accurate available. I agree with CC that we need to improve our coverage and timing -- and are working on this.

Regards,
Colin

captain_chaza

Member

Post Number: 3288
Registered: 02-2003

Rating: N/A
Votes: 0


Wednesday, July 16, 2008 - 04:34 pm:

Ahoy there Max

I second Colin's view that his IC data is the most accurate of all

All I was trying to point out was the "Urgency" in Letting loose those Barbarian Charts and Data he uses in his Newsletter at times

I only read his IC dedicated Charts and have the Highest of all respect

It's the use of those Barbarians that I object to!

Crikey Admiral!
All you have to do is throw a bit of money at it and I can assure you "all will be well"

I suggest you consider a "Foxtel" and introduce a "Platinum level" of subscription to pay for your crewing costs and effort

Salute and Gods' speed

PS; Admiral Col'n
I have found that if you throw enough money at any problem it gets fixed

(Message edited by Captain_Chaza on July 16, 2008)

colin_twiggs

Member

Post Number: 3201
Registered: 09-2002

Rating: N/A
Votes: 0


Wednesday, July 16, 2008 - 04:52 pm:

CC,

Thanks for the advice.
Throwing money at a project -- I came across this useful rule a few years ago:
No matter what the stage of the project, the costs to complete remain the same.

Regards,
Colin

maxima

Member

Post Number: 26
Registered: 11-2002

Rating: N/A
Votes: 0


Wednesday, July 16, 2008 - 05:18 pm:

Ahoy there Cap. and Col.

I'm not trying to scuttle the ship.

I'm a premium member so believe in paying my passage but I reckon the scurvy rascal who made the these comments needs to have a response.

Unresponded, even old semen like myself start to doubt the Officers and the ship.....which does not make for a comfortable voyage.

The main comments are repeated below for your convenience.

"Their (IC) index data is still on the old seats system (changed ages ago, they really should wake up) and a lot of the testing we did across Australian equities has numerous flaws, bhp as an example had a number of errors, enough to throw it's 200sma out by a significant margin."

AND...

"its (IC) x axis isn't scaled correctly which kills any time based analysis"

Give me the facts to send this mutinous scoundrel back home.

Cheers, Max.

colin_twiggs

Member

Post Number: 3202
Registered: 09-2002

Rating: N/A
Votes: 0


Wednesday, July 16, 2008 - 05:38 pm:

Max,

It is difficult to refute vague generalizations. Please ask him for the results of his test on BHP.

I also do not understand his reference to the x-axis (i.e. the date axis).

Regards,
Colin

captain_chaza

Member

Post Number: 3289
Registered: 02-2003

Rating: N/A
Votes: 0


Wednesday, July 16, 2008 - 05:45 pm:

Ahoy Max

We all have to put up with a lot of rubbish at times
If you read all this sort of shit it simply becomes Garbage in- Garbage out

I get it all the time when I read those half baked Bakers making plans to bake a loaf of bread to last a long term

If they weren't so serious
It would be funny!

Likewise
PLEASE Show the charts you find the discrepencies or SHUT-UP

Salute and Gods' speed

maxima

Member

Post Number: 27
Registered: 11-2002

Rating: N/A
Votes: 0


Wednesday, July 16, 2008 - 06:21 pm:

Gentlemen...whoops, ..persons,

I am not in a position to pursue the author of the quotes but I guess what I was/am looking for is an assurance that the data is checked and monitored regularly and that Colin has full confidence in it.

Perhaps it's a matter of semantics or I hear too many politians but Colin's commment "Premium Data who we
..." did not instill a lot of confidence but it now seems that neither of you are aware of any signigicant problem so I will leave it at that.

Thanks for your comments,
Cheers, Max.}

maxima

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Wednesday, July 16, 2008 - 06:27 pm:

Meant to hit the 'edit' button for spelling errors but more importantly to re-add the word BELIEVE which I tried to highlight in red in the quotation "Premium Data who we BELIEVE..."

Sorry for any confusion.
Max.

colin_twiggs

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Thursday, July 17, 2008 - 10:52 am:

Max,

Do you have a link where the comments were posted?
I find it hard to believe that any tests were run on BHP as our data is not exportable to other software.

Regarding the opening prices, Premium Data advise:

The index data we supply is the official S&P/ASX data via the official Signal D data feeds. It doesn’t come from SEATS. SEATS is the old trading system that is no longer used by the ASX.

They also provide further information as to how index prices are calculated. In each case Premium Data follow the Standard and Poors/ASX methodology:

Opening Price

There are several methodologies that could be used for the determining the open price of an index.

Open 1: Market-cap based index open (i.e. report the market cap of all constituent stocks BEFORE trading has occurred and AFTER any corporate action adjustments such as share placements, employee share offers, buybacks etc. have been made). This is the official method used by Standard and Poors for the S&P/ASX index series. A significant issue with this method is that it does not reflect the opening/first traded price at which any of the constituent stocks traded and therefore doesn't provide any indication of market opening gaps.

Open 2: First tick value of the index at 10:00:00 by using the first traded value of all of the constituent stocks at 10:00:00. However, since the ASX opens up in a staggered fashion (A-C open at 10:00:00, D-F open at 10:02:30 through to all stocks opening up by 10:09), this means that the first tick will only be representative of stocks with symbols starting with A, B or C).

Open 3: Calculated open (i.e. first reported trade) of all constituent stocks - this cannot be determined until all constituent stocks have traded OR the market is closed.

Open 4: Time-limited calculated open (i.e. first reported trade) of all constituent stocks within a particular period (eg. the 10:00-10:09 staggered opening window. The open would only be available at 10:09) If the stock hasn't traded within that period, use yesterday's close.

Currently Standard and Poors/ASX use the Open 1 methodology.

High Price

High 1: Today's tick high ((ie use intraday ticks of all constituent stocks to calculate a per-second index value and take the highest of these values as the daily high)

High 2: Today's actual tick high, extended if the Open price is greater than today's tick high.

Currently Standard and Poors/ASX use the High 2 methodology.

Low Price

Low 1: Today's tick low (ie use intraday ticks of all constituent stocks to calculate a per-second index value and take the lowest of these values as the daily low)

Low 2: Today's actual tick low, extended if the Open price is less than today's tick low.

Currently Standard and Poors/ASX use the Low 2 methodology.

Close Price

Close 1: The last traded price at or before the day's regular trading session has been completed (16:00:00).

Close 2: The last traded price inclusive of any trades that occur as a result of the closing price auction between 16:00:01 and 16:10:00.

Currently Standard and Poors/ASX use the Close 2 methodology.

fastbucks

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Wednesday, July 16, 2008 - 10:23 pm:

Ahoy there Colin - thanks again for your timely and excellent commentaries. Keep it up!

I don't know if this is the right place to ask but I wanted some assistance from somebody on the forum.

I have not been on the Forum for ages and had started looking at using Warrants (particularly put warrants). Have paper traded a little on them and they work well in the system I use for stocks. My concern is the mechanics of it all (which ones to use, does the issuer buy it back etc etc - would like to correspond with somebody who has had some experience, not for picks, but to get the benefit of their experience.

Any assistance is gratefully received!!

Cheers
Fastbucks

tryhay

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Sunday, July 20, 2008 - 12:12 pm:

I don't believe it: my post and copy saved to clipboard disappeared when "Windows stopped working" because of some flash incompatability! This message followed closely on the tail of "production system being backed up" (or something similar) ....

Have just purchased new computer and Vista may still be providing problems (even though I downloaded the service patches).

The point of my previous post was to suggest you look and "mine" the knowledge in various locations on this site: particularly in <http://forum.incrediblecharts.com/messages/48308/48308.html> this section (glean from Holy Cow's long term shorting posts, Bundy Snorter etc. ~ you will get to learn their style & approach. Also the ASX has wealth of knowledge and series of books (including one focused on Warrants). Someone may already have contacted you by PM anyway but....

Yes I know it will take more than one weekend but the journey starts with your enquiry and IMO will never finish. One year I lost $50,000 in puts but last few years this has turned around. I used to hedge my portfolio but now am more happy to trade the bear market.

You might consider posting some picks (in the options thread) and someone will respond. I wouldn't be concerned by someone bagging your pick ~ we all started somewhere and they probably laugh on the golf green as well! There are some crusty old farts on this forum ~ some are better taken with a grain of salt). The best suggestion I can make is for you to try the weekly competition when you feel confident - nothing better than putting your reputation on the line (even if you dont put your money with it).

On a more relevant feedback matter Colin thanks for the provision of vertical lines ~ much better to compare price action & indicators!

Mark

Happy trading DYOR

maxima

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Sunday, July 20, 2008 - 05:31 pm:

Hi Colin,

Many thanks for your detailed response which is what I was looking for.

The comments were posted on the "shares" forum (free) on the InvestorWeb site. The forum has a search facility so you should not have difficulty in reading the original if you search under his nic: Wayward1.

It is not the first time he has bad-mouthed IC and even though the new owners (CBA) are closing down InvestorWeb next month following their acquisition of IWL, I'm sure he will continue his behavior elsewhere.

He also has a website: "http://tradetechnical.squarespace.com" which he has openly spruiked on the forum and claims he is the author, Sean Judd.

I strongly suspected that that he was talking nonsense as he did not even have the decency to consult you with his 'findings' and now I KNOW he is talking nonsense.

Unfortunately, he does have a following of naive supporters so it might be in your interests to put him on notice.

Thanks and regards, Max.

colin_twiggs

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Tuesday, July 29, 2008 - 03:19 pm:

Max,

I did a search but couldn't find it. Perhaps the post has been archived.

Regards, Colin

maxima

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Wednesday, July 30, 2008 - 04:47 pm:

Hi Colin,

Not sure why you could not find it as I did a search 5 mins ago using his nic and entering the word 'seats' and in the 'all' category it was the only post displayed.

Anyway, here is the full context (copy and paste) fyi:

Title: www.incrediblecharts.com.au Excellent on line charting
and free.

Cheers

--------------------------------------------------------------------------------

Posted By:MASSONICV on 20/06/2008 7:27:55 PM

AND IN RESPONSE:

Title: Sorry Masso I can't agree, regardless of my thoughts on
most indicators, any indicator is only as accurate as the data it's reading, when that data is flawed so is the indicator. Their index data is still on the old seats system (changed ages ago, they really should wake up) and a lot of the testing we did across Australian equities has numerous flaws, bhp as an example had a number of errors, enough to throw it's 200sma out by a significant margin.

its x axis isn't scaled correctly which kills any time based analysis and it only has very basic simplistic tools.

If you just want a chart that you can look out and say, yep it's trending up, down whatever then the software is fine. If you want something that you can use to accurately analyse then no way would I recommend it to anyone.

Posted By:Wayward1 on 21/06/2008 1:48:37 PM

Hope this helps and please keep me informed of progress.

Thanks and regards,

Max.

colin_twiggs

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Wednesday, July 30, 2008 - 04:59 pm:

Max,

Thank you. I had searched on "incredible charts" and "bhp".

Regards,
Colin

gdd3

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Monday, August 04, 2008 - 03:26 pm:

Colin...you advised on your "Forum Announcement" thread that the ASX Data updates have now been received(at 11.46am EST); interestingly I've only just received the first of the today's hourly updates and its 15.18pm EST....honest feedback!

Dolphin

robin

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Monday, August 04, 2008 - 04:02 pm:

Dolphin,

ASX hourly updates have been on time since Colin's announcement earlier today.

Should you appear to not get the update, please try the shortcut key F2 to force a refresh from our server.

Thanks,
Robin

gdd3

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Monday, August 04, 2008 - 04:15 pm:

Thanks Robin...I'll remember to do that if the anomaly occurs again.

Dolphin

woody

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Friday, August 22, 2008 - 02:52 pm:

Hi Colin,

So is there any update on the horizon...weekly screen perhaps...as it's been a while...

http://www.incrediblecharts.com/whats_new/software_updates/software_updates.php

Cheers
Woody

colin_twiggs

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Saturday, August 23, 2008 - 06:12 pm:

Woody,

We are making good progress and should have a beta version ready soon.

Regards,
Colin

sway

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Registered: 12-2005

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Sunday, August 31, 2008 - 03:40 pm:

Colin

Can you please elaborate on which new features will be added to the new beta version of IC?

Thanks
Sway

This is not a recommendation or advice. As they say .... DYOR.

captain_chaza

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Sunday, August 31, 2008 - 04:53 pm:

Ahoy Officer Sway

Let's hope the problem with the "y" axis in P&F will be changed and solved
(One of my little pet hates with P&F charts on the IC programme)

What a nasty trap it could be for beginners who don't check the RHS axis as a matter of course before they draw in trendlines and put any money on the line! Hey?

Salute and Gods' speed

sway

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Sunday, August 31, 2008 - 05:02 pm:

Captain

Thanks for the warning about that. Not sure why IC has such a "stepped" scale on P&F charts.

Cheers
Sway

This is not a recommendation or advice. As they say .... DYOR.

colin_twiggs

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Monday, September 01, 2008 - 09:31 am:

The stepped scale was introduced so that you can plot stocks below $1.00 and stocks close to $100 without having to change your P&F settings. We plan to include a flat scale (with no steps) as an additional option in response to the request from CC.

The next beta, however, will address the new stock screener interface and additional filters.

Regards,
Colin