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Hi Group,
Every once in-a-while I see a question about how good the metastock
plugins are, etc.
Well, I've used just about all of them, and the absolutely best one
is the new one from Maridome. I bought it months ago before Metastock
released it.
Using Maridome data, you can create a wide variety of indicators that
are used by Price Headley, M. Pring, Mike MacDonald, M. Zweig and
every other guy who knows beans about trading. Not the losers, of
course.
Outside of my intra-day data, it's my most used information. I've got
a dozen charts that give very detailed information about the
direction of the market and when it's going to change. This stuff is
solid!
No, I don't work for Maridome. I trade for a living and have for the
last several years, and yes, I actually make a living at it--a very
good one. Before Maridome, I did most of this by hand, or I bought
some raw data for use in Excel. Maridome is Metastock specific.
You know the problem is you have to pay for the data, and everybody
on this site seems to want everything for free. It's not how much it
costs, but how much it makes you. I spend $200 a month on data, over
$200 a month on other information sources, like newsletters and
Valueline, and I spend somewhere around a 1000 bucks a year on books
and reference materials. So what! All that stuff is a significant
reason I can do this for a living. I use a handful of simple
indicators and a whole lot of general ed about which direction to be
trading in. It works like a charm.
Most of the metastock users on this site seem to spend countless
hours messing around with all kinds of stuff like chaos theory and
chinese cycles. Spend some time and figure out the Rydex fund flows
and you'll see that the movement of money in and out of the key Rydex
funds is a far better predictor of stock market swings than all the
Gann charts, Ellades Cycles, Geocosmic cycles, Dag cycles, etc.
(Maridome will have all of the Rydex information available in
Metastock format in a few weeks. I'm still charting it in Excel. I
phone Rydex everyday. What a pain--please hurry up Maridome.)
I never found a way to make a dime with any of the other metastock
plugins and add-ons. Maridome is the only one that has made me
significant money.
The Maridome data and the indicators I've made from it have more
than tripled my efficiency in knowing what's coming and who's money
is going into which side of the market.
Just the vix data on the individual stocks is worth many times what
Maridome charges for it. My favorite data comes from the Market
Analysis section.
I hate to say this, but if Maridome raises the price of their
information, I'll buy it anyway. Yeah, I like to get as much as
possible for as little as possible; however, the word free ain't in
my definition because if it's free, it's likely to be worth what you
paid for it. Yes, I know you all have budgets. However, most people
are willing to lose all the money in their trading account using free
EOD. That just doesn't make sense to me. But I know better than to
ask.
Check out the websites of all the guru's and you'll notice they have
sentiment indicators, market analysis indicators and economic data
along with their charts. I wonder why.
The Bressert plug-in is pretty good also, but it gets a little heavy
in the explanation of exactly how the voodoo works. It's also not my
most efficient method of trading, but it's pretty good if you like
complex looking charts. Bressert is so cheap, he makes you print your
own manual, even with the $449 intraday version. How tight can you be!
Read some books on indicators based on market analysis, sentiment and
economic data, and then spend a buck on Maridome and you'll make a
whole lot more money--if that's the reason you trade, and it looks to
me like making money isn't the reason most people trade. This is one
expensive hobby if you don't come out ahead. Bowling is a whole lot
cheaper and less stressful. Forget the bowling, just have a couple of
beers and buy some more losers tomorrow.
Good luck!
JO
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