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With my eSignal application, I usually watch only
two screens: The Market Screen and The Trading Screen. I have included
two examples to show how I laid them out and why.
The Market Screen
This screen is broken into two basic sections: Quotes and Charts. I also
call this the "1,000 foot view" because it's the view of what
is going on in the market as a whole, how my stocks are reacting, what
is going on in a particular merger/acquisition (M&A), etc.
Quotes
| In the Quotes
portion of the screen, I keep track of the... |
I am looking
for... |
| 1.
Overall market |
a.
Dow and NASDAQ for overall market sentiment
b. VIX and VXN for volatility sentiment
c. Futures, Cash and Trust, keeping track of the variance. This maybe
set up for the cash/futures/trust arbs. |
| 2. Top issues |
a. Baskets (SOX
vs. the issues I watch in the basket)
b. Arbs
c. Other stocks in the same space or in my portfolio |
Charts
I have been using one chart to watch M&A Arbs.
I usually just have a candlestick chart on a 6-month and a 3-day. I can
pretty much eyeball lows and highs.
The Trading Screen
The second of the screens I watch is broken into
four basic sections: Stock Data, Chart, Level II and Options. Each one
of these screens is a piece of a puzzle. It is not until you can put them
all together that you can see the complete picture. The picture shows
you what the options order flow is, how the firm may be hedging the position,
where support or supply may be, and what the fundamental strengths or
weaknesses are. It is only when you see the complete picture, that you
are an informed trader who can execute his/her plan.
Stock Data
This screen gives EPS, PE, High/Low and other helpful,
live information.
Chart
The chart screen is very similar to the Market Screen
I use, but I sometimes watch intraday on this one.
Level II
This screen is the one I use to watch who is currently
bidding and offering on the issue. It is interesting to see when a big
player is bidding on a stock and then subsequently watch that same player
on the options side selling calls or buying puts. It gives me a good idea
where I can unload stock or load up when the position calls for it.
Options
Because I have been a market maker and worked in
the hedge fund community, I use options for creating positions and hedging
equity positions. eSignal allows you to format your options screen the
way you need to see it. I usually look at volatilities, so mine is designed
to meet that need.
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