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I have been paper trading for a couple of months now and I was wondering whether anyone could suggest an easy way to pick shares, either with strength (long) or weakness (short)?
It would be a bonus if the share picking systems suggested considered some basic fundamentals.
I know you need to spend money to make money, but if the system involved the use of free or at least reasonably priced methods – that would be the greatest bonus of all!
For example, just browsing through some Youtube videos I found an example where a guy uses the U.S. version of Etrade’s CLEAR STATION site (which is free to join but which only sorts through U.S. stocks):
He is able to quickly (and for free) pick stocks which:
1. Have just had a record price breakout
2. Have done so on increased volume
3. Have a P/E ratio which is below the average for the industry group.
This system also has the benefit of being able to click a “bulk charts” link which brings up largish thumbnails of charts of the chosen stocks, all on the same page. You can then quickly scan for stocks which suit your personal, technical setup.
Another video has a guy using Google Finance to help pick stocks (again, only U.S. stocks):
Here, stocks are chosen (quickly and for free) which fit the following criteria:
1. Have had at least a 100% 52 week price change
2. Have a minimum last price of at least $ 10 and a maximum of $ 50 (less volatility)
3. Have a minimum average volume of 200,000 shares
So, I guess I was wondering whether anyone had a setup like this for the Australian market, which may or may not consider basic fundamentals, but which is free (or at least not prohibitively expensive)?
Thanks a lot.
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