I don't really do stock analysis
Also I'm not a professional trader
I'm a senior software developer
Don't take any of this advice to invest in stocks.
Second, Interactive Brokers is terrible for anything beyond placing a trade
their data feeds are sourced from third parties.
Which you can just go to their third party and get the data directly
in a better format
If you are determined to use interactive brokers
learn software development and check out my video on writing code for interactive brokers.
It's not worth the time or effort to use their software to do analysis
Their data is available else where and is more easily accessible than through interactive brokers.
So, If you are still watching,
I'm going to walk through how I would analyze a stock
and perform calculations on the historical data
If I were to analyze stocks
this is the process I would use
First, I follow the news every day
multiple sources of news
I also follow what startup companies investors are investing in
This gives me an idea of what specific markets to invest in
right now, commodities are going up in price.
oil may be going down if biden starts dumping the US oil reserve onto the market.
The housing market just reached it's peak and is going into a downturn
With this news, I can start looking into specific stocks that capture these prices
so I search for housing stock market index for example
Then take this stock for example and look at it's details
well it looks like it's on a down trend
which the housing market is on the down trend
probably wont go back up until march of next year
but this stock seems to have a lot of ups and downs
so maybe it's good for day trading
we can get the data and put it in excel
this will allow us to run algorithms on it
But do I really need excel to do this?
What about trading view?
So I would waste time looking at trading view before writing my own algorithms
See if I can spot patterns with existing algorithms
Once I've done that
I would then work on creating some code in excel to trigger off those patterns
then I can run a back test on the algorithm and see how well it works
Once you have it setup
just open excel once an hour, once a day
however often
and see if your algorithm triggered for the given stock you are following
If you want real automation
Use trading view and pine script
Trading view can alert your phone
or lead programming and fully automate so you don't even have to worry about it.
anyway, that's all I have.
