Trade Prospector Updated Program Features

We've included a number of sample screen shots below to help give you a quick introduction to what you can expect to see when the production software is available for you.

After authenticating the user, automatically logging into the remote TP infobase, and automatically downloading any software upgrades - you'll see the current infobase "as of" date.  You'll be able to easily check the current infobase version without our sending a nightly email.

This is the main menu bar (on the left), clicking one of the category buttons will open the appropriate menu bar next to it.  Clicking one of the options in the secondary menu will activate the appropriate TP function.

This is what the new screen layout looks like - this example is the volatility compression panel.  User filters are available at the top of each window to allow the user to select stocks by the exchange (e.g., only Nasdaq or only NYSE or don't show indices, etc.) and by stock price range (e.g., $0-$150).  Any stocks you have included in your personal hit list will also be displayed regardless of the filters you have applied (e.g., in the above example, if you have QCOM in your personal hit list but were only displaying NYSE stocks, QCOM would still be displayed).

The checkboxes to the left of each stock in the display is used to highlight stocks that the user wants to move to their personal watchlist (see an example of the watchlist below).  After checking those stocks the user is interested in, they click the "-> Watchlist" button to send them to the watchlist where the relavent trading information will appear.

The "S/R" button is used to display the TP Support/Resistance panel for the stock that is currently highlighted (see an example of the new SR panel below).

The "Chart/News" button is used to display a panel showing the current intraday chart and recent news for the highlighted panel.

The "Stats" button will display an overlay panel containing relavent stats for the highlighted stocks - a subsequent click in the stats panel will close it.   The stats panel looks like this:

The "Links" button will display the following popup menu from which the user can select a link.  After selecting one of the available links, a new panel will be opened displaying the page at that website speific to the highlighted stock.

All TP panels operate similarly.

This is a new panel that we've added - it consolidates the Volatility Compression, Trading Range Pattern, and Multiday Pattern indicators into one panel.  Additional filters have been added to also permit the user to specify the minimum indicators they are interested in (e.g., only show stocks that are showing at least volatility compressions and trading range patterns).   The separate panels are still supported for those users who prefer to select the top stocks from each indicator group separately.

This is the new watch list panel.  You can send selected indicators from the various TP panels to the watchlist for consolidation.  You can then use the "Export" button to export the watchlist to two files - one is a symbol file which can be imported into programs like QCharts to automatically populate a quote sheet - the other file is the text contents of the watchlist which you can import into any other program capable of reading a text file.  If/when QCharts and other programs provide chart and alert import features, TP will be modified to export the information in a compatible form.  The "Print" button will print a formated table display of the watchlist.  You can use the "Clear" button to clear the watchlist of any entries if you need to and the "Remove" button will delete any items you have checked.

This is the new S/R panel.  The color coding of the information correlates to the line color coding that the  TP realtime daytrading tool will use for its automatic charting function.  Since the user enters a symbol for which to display the S/R information, the "Get Info" button is enabled on this panel to initiate the retrieval of the information from the remote infobase (pressing Enter is the same as clicking this button).  The "Print" button will print a copy of the S/R panel to your default printer.

This is a new panel in the Daytrading section.  It displays the biggest point gainers for the day.  There is a similar panel to display the biggest % gainers for the day, the biggest point losers, and the biggest % losers.  Momentum traders often like to look for trading opportunities in these stocks - either going long if they're continuing their momentum and going short if their momentum is failing.

This is a new panel in the Daytrading section.  It displays the stocks with the most trading dollar action for the day.  Momentum traders can use these indicators to look for trade candidates "where the action is".

Another new panel in the Daytrading section.  It displays stocks hitting new 52 week highs during the trading day.  Also available is a panel that displays stocks hitting new 52 week lows.  These can also be used by traders looking for trading candidates "where the action is".

Yet another new "where the action is" oriented panel in the Daytrading section.  It shows stocks with abnormally high volumes compared to their average daily volumes.

This is a new panel in the Daytrading section.  It displays a summary of all stocks firing at least one indicator.  The checkboxes above each indicator column heading can be turned on/off to indicate the user's interest in those indicators.   The indicator column headings themselves are actually activator buttons which will display the appropriate indicator information panel when clicked.

This is the new setup/user preferences panel.  It allows the user to customize the order of the new "Links" popup menu and to define their personal hit list of stock symbols which will override other indicator panel filters that the user may define (e.g., if the user doesn't want to see Nasdaq stocks except for CMGI, JDSU, and YHOO, they could add those three to their personal hit list while at the same time unchecking the Nasdaq filter option in the displays).

This is the updated option calculator.  In addition to the usual "greeks" calculation, the calculator computes the probability of the option expiring in the money, the probability of it expiring at least with a breakeven price, the future value of the premium based on a target stock price and a user specified number of days in the future, and the probability of that future value target price being achieved in the target timeframe.  Implied volatility can be computed by simply entering the current call or put price in the appropriate field - all other values will be automatically computed.  By entering a stock symbol in the "Symbol" field, the calculator will recall the closing price and historical volatility from the TP infobase and automatically insert those values in the appropriate fields and calculate all values based on them.  You will note that the calculate includes an "EPS Growth" field.  This is an earnings per share growth rate value.  By entering the recent or your assumed growth rate, the probability projections will automatically take this into consideration in projecting the ITM, B/E, and FV probabilities.

This is the updated covered call calculator.  Option traders can use this to compute the cash and margined return for their planned covered call positions.  It computes the return amount and percentage if the calls are exercised and the percent return if the stock price is unchanged.  It also computes the position's breakeven price and the downside protection that the covered call affords you, as well as the probability of being exercised and breaking even on the trade.

This is the updated price probability calculator.  Traders can use this calculator to project the probability that a given stock will be above/below a target price at the end of a specified time period.

This is the updated trading range calculator.  Option traders can use this calculator to project the probable trading range (using either 1 standard deviation or 1.28 standard deviations) within in which a stock will likely trade within.  This information can be used in developing high probability option strategies such as straddles and strangles.

This is the new graphical option analyzer.  Traders can enter complex combination positions and then analyze the positions's dynamics.  Position value or profit can be graphed against price, time, interest rate, dividend yield, or volatility.  Dynamic sliders allow the various option pricing variables to be changed with the results graphed in realtime.  The analyzer also computes the overall position delta, gamma, theta, vega, rho, and breakeven based on the changing parameters.

This shows the option analyzer in "Probability Adjusted Profit" mode which applies the price probability curve to the at expiration valuation to give you a picture of the profit/loss probability skew.

This redesigned panel presents options with high call premium relative to the underlying stock's closing price.  The user can now select the expiration month and whether the calls should be at the money or deep in the money.  The panel now also presents the theoretical value for the option, the percent of the underlying close the option premium is, the percent return if a covered call position constructed with this option is called out at expiration, the breakeven price on a covered call, the implied volatility of the option, and the option's delta.  Options shown through this panel are candidates for high return covered calls or as the short legs in a spread (using an ITM or DITM option in place of the long equity).

This redesigned panel presents options with high put premium relative to the underlying stock's closing price.  The user can now select the expiration month (currently only LEAPS are presented) and whether the puts should be at the money or in the money.   The panel now also presents the theoretical value for the option, the percent below the closing price the put premium protects (% down), the percent return on a naked put position that expires worthless, the breakeven price on a naked putl, the implied volatility of the option, and the option's delta.  Options shown through this panel are candidates for high return naked puts or as the short legs in a credit spread.

At the request of many users who maintain investment portfolios or who also position trade, we have introduced this new Portfolio Stop Management panel.  You can save up to 100 stocks in your personal portfolio list in the new setup panel.  When this panel is displayed, the software will automatically query the TP infobase for each stock in your portfolio list and display the upper and lower stop values and the 50 day exponential moving average.  This will make it easier and faster for position traders and investors to quickly manage their positions.  This function will be adapted to work with the new integrated portfolio manager upgrade that will be released later in the year.

Copyright 2000, by Third Millennium Trading.  All rights reserved.  This information is proprietary and reserved for the personal use of Trade Prospector users and registrants.  No other use is permitted without the express authorization of Third Millennium Trading.

Disclaimer: Third Millennium Trading does not recommend the purchase or short sale of any stocks.  Trading should be based on your own understanding of market conditions, price patterns and risk.  The information presented here is designed to contribute to your understanding. Controlling risk through the use of protective stops is critical (more).