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RT III is a software package that a number of on-line brokers provide if
you have an account with them. A.B. Watley http://www.abwatley.com/ is the
company I'm currently looking into. If you want to do serious daytrading
you must have an acct. with a company that gives you instant execution of
trades. I believe this is done by putting the order through directly to the
trading floor as opposed to having it go to the on-line broker first who
then re-directs the trade to the floor. E-Trade is an example of this type
of service.
Anyways, RT III is a charting software package that cos. like Watley make
available with their service. If you go to
http://www.abwatley.com/frames/frames_ep_ut.html and choose Service Level 4
of the Ultimate Trader acct.and then go to either of the two "Charts"
options you can have a look at RT III. I haven't used it myself. I'm in the
research stages at this point. I've heard many day traders say that RTIII
is quite good. An advantage obviously over MetaStock Pro is that you can do
your charting and order execution all within the same application. As much
as I love Meta, I don't think I would use it for daytrading, mostly because
of shortcomings with Signal Online and because of the time factor of
charting and executing an order in two different aps. My own preference is
to use Meta 6.5 as a tool for analysis of longer-term trades (anything
beyond daytrading really) and go with RT III for daytrading. As I mentioned
in an earlier post, I actually upgraded to Meta Pro and signed on with
Signal to give it a try. The fact that Signal doesn't provide historical
intraday data, made daytrader virtually impossible.
Lorena Beccari
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