Wishlist (suggestions)

For what it is worth, here are a few suggestions that I think would make BC even better than what it is.

1. I would like to add some Bullscans to a "Favourites" list. I went through evey Bullscan last night - simply trying them out. Some I found to be very good - but frankly I now forget what they were. I would have liked to have marked one or two as being of particular interest. I understand that I can copy a scan and make up my own Category. That is probably almost as good. The problem is that there are so many scans...in the end I would suggest that you really only ever use just a few.

2. You have an excellent tool in the Value Ruler. I think it would be a great idea to build on this ruler. When I am looking at a prospective trade, I add a value ruler from the Entry price down to the Initial Stop loss. This is my Risk amount. I then add a value ruler from the Entry price to the Price Target. This is my Reward. With these two figures I can now work out my Reward/Risk. Then type this on the screen with an annotation box.

Would it not be great if the computer could do all this for me? ie drop on a modified value ruler (called risk/reward ruler perhaps). I drag the bottom to the Initial Stop, the middle to the Entry price and the top to the Price target. I then see displayed in text next to the line the Reward/Risk.

3. Some Position Sizing tool would also be very nice. It could be built into the risk/reward ruler just mentioned, perhaps.

4. A Measured Move tool would also be very useful. IC-Investor has this and I find it very good. Like Fibonacci extensions - this is a very good tool for estimating price targets. In fact, you usually add Fibonacci values to the measured move lines.

A measured move uses the idea that price moves and retracements tend to duplicate themselves - much the same way fibonacci numbers seem to appear everywhere. You click on a significant low, then the significant high. This gives the price range that is duplicated. Then you click on the subsequent significant low - ie the retracement from the high we just measured. Horizontal lines aer then drawn, duplicating the original price move - but now starting from the final significant low. And of course you add in the fibonacci percentages as well.

It sounds complicated to describe - a picture would make it very simple. If you think it would be a good idea to look at it more, then I can of course send a picture.

5. It would be nice to display on the chart what sector the displayed equity is from (ie Minerals, etc). This is particularly so after doing a scan. I do not generally trade from the Minerals sector, so it would be nice to know where a trading candidate is from before I short list it.

6. It would be nice to be able to set default values for all chart types and indicators. For example, when I show a MACD, I want certain colours set, dotted lines, full indicator name on pane, etc. I find that I am doing these things all the time and it would save a lot of time if they were saved for each indicator.  And when I display candlesticks - I always want them setup the way I want them - not the default black and white! You get the idea.

7. This is probably getting more into a Portfolio function - but I like the way FCharts and IC-Investor allow you to enter trading details and display it on the chart. FCharts is proabbly the best, so I will explain that system.

I enter a trade in a particular stock. I enter the date, the price, the position size, brokerage and if known, the Initial stop loss and price target. This is on a popup screen. What is displayed on that chart then are horizontal lines representing

- entry price

- breakeven

- stop loss

The benefit of this is as each day you bring up your chart to see how your trade is going - you can tell instantly the price action goes through the breakeven point (so you can then start to move up your stop loss if that is what you do). And as each day goes on, you can see your profit amount (in dollars), or loss, of course. I find this a very visual way to manage the trade.  IC-investor also puts on Trading markers - ie when you bought and sold the stock, but that is not as useful as the horizontal lines at the imoprtant price levels.

That will do for now...

No good - that is overall. I am talking about defaults for each chart type, at the very least. For example - I always want my candlestick charts coloured. Now - I have to change the properties every time I change to candlesticks.

I thought I could just get away with using candlesticks all the time - so just set the defaults and you are fine.

But I do not always use candlestiocks - far from it in fact. I almost always want to see the Gann swing chart as well. So I switch back and forth between the two. This plays havoc with the chart - which I will mention in another post - but it totally erases all the setups I made for each type of chart. Quite frustrating.

I agree completely. I guess the argument is that another user will see your overlays - not a pristine chart. But that is not an issue with most of us.