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PureBytes Links
Trading Reference Links
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There are some excellent educational sources available for
explorations and formulas, all free.
The place that I would start is the Formula Book in the group "Files"
section. It's a 144-page "book" but it's a fast read and
exceptionally instructive about how to build formulas and then
combine them to give you really powerful tools. I've been using
Metastock for years and never realized how powerful a piece of
software even my way-outdated version was until I read this book.
Next, in this group's "Links" section, check out the links to "guppy
traders" and "stock central." You can find custom formulas for a
wide variety of indicators that you can copy and paste, combining
them any way you want. Also, the "stock central" link has an
excellent forum, especially if you get stuck writing a tricky piece
of code and need some help.
This link:
http://www.traderclub.com
is one I just stumbled onto the other day, and it's devoted mainly to
system trading. They sell systems, of course, but you can also get a
free bond-trading system from them (downloadable), with all the code
and documentation. Personally, I think it's a great educational tool
to be able to look at the inner-workings of a system like that and
see "how they did it," especially when they also tell you a bit about
how it performs under varying conditions. (Not a testimonial: I
never tested it myself, I'm just remarking on its instructional
value.)
As to the data (historical and daily updates), that's a VERY mixed
bag, and really depends on your needs. Personally, I use nothing but
free data from over the Internet, download it into an Excel
spreadsheet, then copy and paste whatever I need to over into
Metastock. But I specialize, don't need or want dozens or hundreds
of quotes, and the only decades-old data I'm interested in is the
SP500 Index. (Yahoo! has quite a bit of historical stock and index
data for free, but I've noticed some accuracy problems from time to
time.) Massive amounts of historical data on all kinds of things is
available for a fee, and an Internet search of something
like "historical stock data" should find you a source.
As to the actual trading, the EASY part is finding a good method and
a good market to trade. The HARD part is SITTING STILL and doing
NOTHING until there is a CLEAR opportunity. I think that's the
single most-important concept in trading, but it won't fill a book
that can be sold for $29.95 so you'll never see it anywhere.:)))
Luck,
Sebastian
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