We hope you’ve been having a fantastic week! The TradeSmith team has been hard at work over the past few months to provide our customers with a great feature enhancement. It came out Monday; have you noticed?
That’s right! We’ve updated TradeStops. It has all the same basic functionality, but we’ve optimized everything to improve workflow for you.
Today, we’ll feature one of the biggest updates: The Stock Analyzer. We think you’re really going to love the changes.
Where Do I Find the Stock Analyzer, and How Do I Search?
If you’ve navigated around TradeStops since the update, you may have noticed the Stock Analyzer is missing in the Research tab. Not to worry. You can now access it from anywhere in the program.
In the upper right corner, you should see your name. That part hasn’t changed. To the left of this, there is now a search bar.
From there, select the stock you’d like to analyze from the drop-down list. Then, you’ll be brought to the newly-enhanced Stock Analyzer page.
What Does the Stock Analyzer Cover?
When you’re first brought to the Stock Analyzer, you’re defaulted to the chart view. You may want to edit the data you see on the chart. On the left side of the chart, there’s a green Chart Settings button.
Clicking that button will open the chart settings. From there, it’s just like the version of TradeStops you’re used to. You’ll click the small circles to turn the settings on and off.
In the screenshot above, you should also have noticed some various tabs. We’ll cover the Stop Loss strategies last since that’s a little more in-depth. Let’s take a look at the other tabs first.
- General Statistics — shows you general information like the latest close, change, open, high, low, and much more. You’ll also find the Average VQ here.
- Fundamentals — here you’ll find fundamental information like the P/E ratio, PEG, EPS, and other useful data.
- Ideas — if you’re subscribed to Ideas by TradeSmith, you can see if the position meets any of Dr. Smith’s strategies and if it appears in a newsletter.
- Corporate Actions — here you’ll see any dividend, split, and spin-off data for the investment.
To look at this information for the stock, all you need to do is click on the various tabs. We’ll populate all the information for you. No need to break out that calculator to calculate P/E!
How Does the Stop Loss Analysis Tab Work?
Once you’ve searched for a ticker, we can help you analyze the position.
By default, we set your trade type as Long and adjust for dividends and spinoffs. The Entry Date will also default to yesterday’s or today’s date (depending on when you search for the ticker). However, you can change these settings as needed. Make sure to click that green Analyze button if you make any changes.
Once you’ve set up your analysis, we’ll provide you with some stop loss strategies. If a position has been stopped out, a stop price won’t be provided, as shown in the screenshot above. Otherwise, you’ll see the prices where you’d get stopped out for three different stop-loss strategies.
Did you notice that little pencil to the right of the 25%? You can click that to edit and create your own trailing stop percentage. Once you make that change, you’ll need to click the Analyze button again to update your results.
What Else Has Changed on the Stock Analyzer?
In the upper left of the Stock Analyzer, we show you the ticker you’re looking at.
Have you noticed the magnifying glass to the left of the ticker, though? That means you can search for another ticker directly from that box. And, just like the search bar at the top of the screen, all you need to do is type in the ticker symbol or company name.
On the far-right side of the page, there are two buttons.
Just like in the previous version of TradeStops, you can add the position to any manual portfolio. The exciting update is the integration to the Position Size Calculator. If you click that button, you’ll be brought to the Calculator where you can calculate a position size for the ticker you just looked up. Many of our customers have asked for this, so we think you will love this update!
There’s obviously a lot to learn with the updates to TradeStops. That’s why Marina Stroud, our Product Education Specialist, will be hosting some special educational webinars to help walk you through the latest updates.
In this Getting Started webinar, Marina will walk you through all the updates to the TradeStops program and help get you started on your journey with TradeSmith. She might even have a couple of surprises for you, so you won’t want to miss it!
In this training webinar, Marina will take a deep-dive into some of the new updates in TradeStops. This will include the comprehensive Dashboard, the new process for working with Portfolios, and how to set up alerts.
In this training webinar, Marina will walk you through the updates to the TradeStops research tools, setting up alert templates, and how to customize TradeStops to your liking.
Aside from this, we’ve also updated our Knowledge Base. Make sure to check out the articles. They can answer many of the questions you may have.
On Monday, May 27, our TradeSmith offices will be closed to celebrate Memorial Day. We hope everyone has a safe holiday and takes a moment to remember those who gave their lives while serving the United States. As always, you can email us any questions you may have. And, our offices will open again Tuesday, May 28 at 9 a.m. Eastern. Have a great Memorial Day!
We hope you’ve been enjoying the latest updates to the TradeStops program. There’s a lot to learn with it, but if you take it one step at a time, things will be easier. And, we’ll be providing you small guides over the next couple of weeks in these emails to help get you up to speed.
As always, if you have any questions, please feel free to reach out to us. Our team is always happy to answer any questions you may have. Our email is [email protected].
Until next week,
TradeSmith Customer Success Team