Rank: Newbie
Groups: Registered, Registered Users
Joined: 8/1/2007(UTC)
Posts: 4
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I am looking for some advice.
I have run a formula in explorer on Indices (Datalink symobls) and it has returned a number of buy signals, which is great, until I try to understand what the returned labels mean.
e.g. it returned the label .BARR. I chart that and it says its AVGE ROUTES 8-11. I then right click on that name, reasearch, news, company news; it goes to the reuters website but says the symbol is not found.
So can anybody let me know how I can interpret the labels returned?
Thanks
Alice
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 4/5/2006(UTC)
Posts: 129
Location: Norgate Data
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You should never blindly follow any signal unless you know what it means.
.BARR is the Baltic Capesize index which represents the average pricing on a particular class of ship for transporting goods from a particular place (in this case, Rotterdam). Unless you're doing some deep analysis of shipping rates, have a keen interest in a company that uses this exact type of shipping etc. then these types of indices aren't for you.
I'd suggest trying to figure out which indexes are suitable for your style of trading.
Cheers,
Richard.
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Rank: Newbie
Groups: Registered, Registered Users
Joined: 8/1/2007(UTC)
Posts: 4
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Thanks Richard for your reply and I agree with your advice.
My style is trend-following and if an index is going up then I am interested in it (as a starting point). I used .BARR as example only. What I am really trying to find out is how to translate these index labels into something meaningful (as you have done above) to start some deeper research. Any thoughts?
Thanks
Alice
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 4/5/2006(UTC)
Posts: 129
Location: Norgate Data
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I use Google to find out more detail on a security's name. If your data vendor doesn't provide a suitable name for the security, you should demand that they do so.
Cheers,
Richard.
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