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Hi Daniel
I believe you when you wrote "... , but becoming proficient at programming
could take up to a year. ..." I was looking back at my old emails and it was
a year ago last October when I first started writing to Ton, Martin and
Harley et al for advice on how to use Excel with Metastock. I could barely
open a file correctly back then. So I know how steep the learning curve can
be.
You're right about traders buying off the shelf packages especailly
specialized programs such as "RadarScreen" if they are "scanner" traders.
Being a "niche" trader" a lot of stuff doesn't exist or if it does exist and
is any good then it is soon bought up and taken in house. This has happened
to me twice now. So "Hi Ho, Hi Ho ... it's off to programming I go" <G>
Do you have a web site for RadarScreen, etc.?
Best regards
Walter
----- Original Message -----
From: Daniel Martinez
To: metastock@xxxxxxxxxxxxx
Cc: Equis Suggestion Box
Sent: Friday, November 05, 1999 7:57 PM
Subject: Re: Increasing the MetaStock(R) Formula Language with MetaStock 7
Walter,
I once programmed FORTRAN IV & 77, at least 3 types of BASIC, RPG II,
Pascal, COBOL 66 & 74 so I am familiar with how long it takes to get
results. The use of PowerBasic is intriguing, but I think the amount of
time it would take to begin making profits would be better served simply
using packaged software. Traders want to make money now, right now,
preferably yesterday.
The best on the market, I believe, is RadarScreen. Using Signal's
$2000/year cable TV realtime feed and the RadarScreen $2400 package, you can
track every single stock in the US markets. While it is expensive, you can
begin making profits immediately instead of taking a year to figure out how
to program. Even if you become a programming expert, there's no guarantee
you will find a formula which will consistently make profits.
About the MS v7 MSX capability: if Equis has followed past history and only
allows access to data of 1 or 2 tickers at a time per chart, I really don't
see how it's that revolutionary. In order for the MSX feature to make any
difference, you must be able to access as many tickers as you desire all at
the same time.
Just my 2¢,
Daniel.
Walter Lake wrote:
Hi Daniel and others
You wrote "... the average full-time trader wants to make money ..."
The questions arises, does studying TA, developing systems, learning Elliot
Waves make money? I don't think so.
It is an identified market inefficiency that makes the money for you. If you
trade where there is no identified market inefficiency, no amount of
programming, TA, study etc. will make money for you. Unfortunately that is
the case with most traders and Metastock users.
Once a market inefficiency has been identified, often very simple analytical
tools will be used in the trading system. Then there is lots of time for
programming and automating the system.
Learning to program is necessary, I believe, because with most of the market
inefficiencies that I have seen traders trading, there are usually no
publically available programs.
Unfortunately, all the retail charting programs point the new investor /
trader into the promised land of TA and not towards discovering market
inefficency areas that the professional traders base their business on.
Best regards
Walter
-----
From: Daniel Martinez
To: metastock@xxxxxxxxxxxxx
Sent: Thursday, November 04, 1999 10:08 PM
Subject: Re: Increasing the MetaStock(R) Formula Language with MetaStock 7
I concur. Learning to program is a complicated process. I don't want to
put a damper on the celebrations here, but becoming proficient at
programming could take up to a year. That is, of course, if you were to
spend at least 2 hours a day on VB. It's hard enough to learn how to
program in VBA, now we are expected to program in full VB? I think not.
Maybe when I'm not full-time trading, not system testing, not learning new
TA methods, not learning Elliot Wave...
Fact is, the average full-time trader wants to make money, not learn how to
program VB. I think a more efficient route would be for Equis to create a
program similar to RadarScreen to track large numbers of stocks in realtime.
I have been tracking a (much smaller) group of stocks delayed and this is
definitely a way to spot moving stocks during the day.
Just my 2¢,
Daniel.
Walter Lake wrote:
Don
What you say makes perfect sense ... the installed base of VB and Excel is
huge. What is this "Power Basic" nonsense to mainstream users ... just more
"not really being helpful stuff" to confuse and complicate the issue?
Let me know when your program is ready. I'd be glad to work with someone who
is trying not "trying".
Best regards
Walter
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