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[Metastockusers] Plug-ins evaluated



PureBytes Links

Trading Reference Links

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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