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Lorena,
I gave up on Signal and Metastock Pro for the same reason. I kept MS Pro
anyway, but cancelled Signal. I now use Real Tick III connected to a
Level II firm. I think this is the best way to go for daytrading. Of
course, in Real Tick you can't customize indicators or add any formulas
of your own. This has, however, been somewhat of an advantage. Having no
choice but to keep it simple, I've been trading with a basic MACD and
chart patterns, while considering the movements of the market makers on
Level II and Time of Sales.
I highly recommend that you adopt Real Tick III or CyberTrader or
something similar. If Metastock wants to compete in the realtime market,
I think the program has to be drastically different. Right now, it is
just like the EOD program, but it accepts real-time data. However, the
daytrading environment is just better served with a format like Real Tick
or CyberTrader (both of which could use improvement, but they're okay).
Gila
>Winthorpe,
>I too dabble in day trading. I find that a good way of filtering out noise
>with stocastics and RSI especially, is to use candlestick analysis. In Greg
>Morris's book, Candlestick Charting Explained, he includes a section on
>using sticks together with different indicators. I was especially impressed
>with the combination of stocastics and sticks. He also includes his back
>testing stats on various combinations. His testing is quite extensive and
>his numbers are very impressive.
>
>BTW, how are you finding Signal? I actually returned Meta Pro because
>Signal provides no historical intraday day. For me this was a major
>drawback as I found I couldn't build a reliable chart without a few days of
>data that I had to collect myself. How are you getting around this problem?
>I now use Meta 6.5 for short- and long-term trading and am exploring Real
>Tick III for day trading.
>
>Lorena Beccari
>
>At 02:32 PM 17/03/99 -0800, you wrote:
>>I've just signed up with Signal Online and bought a copy of Metastock
>>Professional. My objective is to start day trading utilizing Level 2
>>quotes along with the aid of technical analysis on a tick by tick basis.
>>Would be curious to hear from other day traders in the types of
>>indicators they are currently using with the parameters that they have
>>had the best luck with. I'm currently using RSI, MACD, Momentum, and
>>Stochastic...still experimenting with 14....9....and 3 parameters.
>>Anyone care to expand on this discussion?
>> Much Thanks,
>> Winthorpe
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