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Ron,
Where do you live. I could point you toward a training session conducted by
Paritech.
Steve Karnish
Cedar Creek Trading
http://www.cedarcreektrading.com
----- Original Message -----
From: <Sonnysark@xxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Thursday, August 10, 2000 8:07 PM
Subject: Re: Learning Metastock
> In a message dated 08/10/2000 5:47:10 PM Pacific Daylight Time,
> ron@xxxxxxxxxx writes:
>
> << Guy, and all the other experienced users-
>
> With all the discussion on the list of general trading principles from
> experienced traders, I wondered if any of you might take a few minutes to
> point a newer user of Metastock in the right direction. I'd like to be
able
> to build and program my own trading system and indicators; so don't
worry, I
> don't need you to reveal the workings of your secret systems. Just some
> basics. Maybe you could share a few basic type indicators or systems.
>
> Do most of your build your own indicators, or do you use the ones
provided?
> Much discussion has been had about buy and sell signals...but I have seen
no
> specifics. Guy, you talk about this a lot. Can you tell me what you are
> using to generate these?
>
> It took me my first 2 months just to get this program to stop crashing,
and
> now, I can use it to the extent of seeing very good charts and doing
chart
> pattern analysis with volume and some canned indicators like RSI. I look
at
> different time frames, use volume, etc. But I know I'm missing something
> probably a lot of something, or a lot of somethings. Frankly, I'm lost.
>
> Any help would be appreciated.
>
> Sincerely=
>
> Ron Scott
> >>
> Ron:
> There are no shortcuts, and there are no secrets to trading
> success...overnight success took me about four years of dedicated hard
work
> and sacrifice. For some it took less time and for some it took much
longer.
> One trader will tell you to use one indicator and another will tell you to
> use two or three, and I would tell you to use no indicator as I believe
that
> price action is the best indicator and is superior to all other
indicators.
> However, most people don't want to take the time and really learn how to
> interpret charts because they would have to think then wouldn't they?
They
> would rather have some indicator...let's say MACD tell them to buy and
sell
> when it crosses. 80% to 90% of traders lose and I bet most are using
these
> indicators in one way or another. One is using one time frame and one
> another. One has the indicator set at a certain setting and one to
another.
> Who is right? The great traders of the past didn't have any of these
> indicators (most of them at least). They just interpreted price action
which
> is the purest form of technical analysis. Some of the best traders today
> that I know of use various charting forms rather than indicators. I
suspect
> you haven't studied many books, and if that is so you must get the basics
> down. If you want to become a technician a good book to start with is
> Technical Analysis of the Futures Markets by John J. Murphy. He also has
one
> for stocks if that's what you're into, but much of it should be the same
as a
> chart is a chart for the most part. I'll even trade the weather chart if
> someone is willing to take the opposite side of my trade. Murphy also has
a
> work book to go with the textbook. Larry Williams has several good books
> too, and he explains several of his old systems in them if you're
interested
> in that. I know you're probably thinking that all this is not much help
to
> you, but if you really want to learn to trade you have to study and find
what
> works best for you. You will never really learn to trade if you use
someone
> else's system. And most importantly pursue excellence and not just the
> money. Once you gain mastery the money will come. Good luck. -Sonny-
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