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Super,
Hey, no problem...you don't sound like a broken
record...you sound like a shill (a huckster, a non-stop marketing, full-court
press). For a forum that doesn't allow advertising and marketing, I'm
still trying to figure out why pumrysh allows this day-to-day bombardment.
So, Preston, does this mean that all posters that actually "help" people trade
are allowed to pummel the list with unsolicited advertising? Or, is this
forum just for "certain" people to advertise what they sell, everyday??
Inquiring minds want to know.
Take care,
Steve
----- Original Message -----
Sent: Sunday, April 03, 2005 4:05
PM
Subject: [EquisMetaStock Group] Re:
Metastock Add-Ons and Plug-Ins
I don't mean to sound like a broken record, but I've
used and/or
tested almost all of the plug-ins and none of them are very
good in my
opinion, especially for a longer term investor. I've benched
marked
the plug-ins against all of the systems I use daily, so I know
how
they perform against my standards.
The only one that's worth
much is Bressert's, but it's really designed
for day trading. It can be
used EOD also.
Trade Oracle is almost the same as Performance systems
but it has more
gloss on it. It's a lot of small formulas that catch an
entry here or
there. Even though the formulas are simple, some of them work
okay. As
far as exits go, there's nothing in there I would bother with.
Trade
Oracle has the best front end of any MS product. Some of it is
better
desgined and programmed than MS itself. It also costs nearly twice
as
much.
AlphOmega is Elliot wave wanta be stuff, but I think it
uses peak and
through functions, which create their own problems.
Chart patterns is so, so. Most patterns aren't reliable for a
long
term trader. Some chart patterns in general seem to work okay,
but
I've found higher probability ways to trade so I don't bother with
too
much searching for patterns.
Bollinger Bands was the least
effective of the ones I looked at, at
least in my opinion. Candlesticks is
okay, if you like candle sticks.
But there is no magic in there. Power
Pivots is more peak and trough
functions.
ICE is good for
developing symbol specific systems. Most people who
buy it don't know how
to use it properly. If they did they'd get much
better results. It's best
for a trader who doesn't know anything about
systems development but wants
to only trade a small group of stocks. I
like ICE because it will force you
to struggle through systems
development exercises until you learn about
systems development--well,
some people will learn!
Trend Medium is
curve fitting but on a daily basis. ETS is one I
haven't used--and I don't
think many other people have either.
MetaMarket is so low on the
fundamental analysis scale it doesn't
register as far as I'm concerned.
SpyGlass is a mish-mash of old tools.
Now for the broken record part.
The absolute best add-on you can get
for MS is Roy's newsletter, even if
you don't want to learn to program
your own functions.
www.metastocktips.co.nz
Roy realized from the beginning there was a
limited market for
programming education so he added a lot of information
on the systems
tester, explorations and now a trading series.
I've
tested and traded everything that's going into the first trading
series
from Roy. In my opinion, all of the techniques in MSTT produce
better
results than the other MS plug-ins and add-ons. The April and
May issues
have some of the best information on trading using TA that
you're going to
run across--well, again I should say, it's the
clearest, most logical
trading information I've run across. Someone
else may have better stuff so
if they do, I wish they would share it
with Roy's subscribers so I can get
a chance to test it.
Most people who try to use TA go off on an
indicator fascination trip
trying to find the one or two indicators that
work in every market and
find the best entries. That's a wild goose chase.
(grail chase)
Using TA to trade stocks is not that difficult, if you
understand a
few fundemental things and you use the right strategy and
approach to
markets. Most people don't. They start out thinking that TA is
some
magic bullet that's going to make them rich. Or that a
specific
indicator is going to tell then when to buy and sell a
stock.
After a couple of years chasing their butts, they figure out
that
they've missed the boat. Some get lucky and stumble on something
that
works okay for them, but most spend thousands of dollars listening
to
guru's fill their heads full of crap, and then they still don't
make
any money. The statistics that say that 95% of TA users and
want-ta-be
traders fail is true. How can so many people be chasing the
wrong stuff.
Based on my experience, what's wrong is not TA itself,
but the
strategy and approach newbie's take trying to figure out what to
do
with it. Why do you think that MS DOES NOT come with a template
that
allows everyone to make money as soon as they install MS on
their
computers? Because there is no such thing, so Equis can't sell it to
you.
Making money using TA is not about having the right indicators,
the
right plug-ins, the right guru chart setups--it's about how you
see
the markets and understand what works and why it works and when it
works.
The reason I keep recommending Roy's newsletter is because it's
has
information in it that will change the way people see trading. It
will
open their eyes to how money can be made on a consistent basis.
At this point, the skeptics are going to say, well if the stuff in
it
works so well, why doesn't everyone use it. The techniques in
Roy's
newsletter are simple. Some people like simple, some people
don't.
Some are happy making 80% of the maximum amount they could
make
without having to become a full time student of TA and get a Ph.D
in
trading. Others want to move beyond the 80%, and they feel
they're
willing to pay the price to get there, or at least lose
everything
trying.
That's fine. You only have to ask yourself a
simple question--is what
I'm doing working or not!
If it is: keep
doing it. If it isn't, the cost of Roy's newsletter is
an inexpensive way
to learn a lot of new stuff you didn't know and get
a chance to experiment
with simple instead of complex. If it works for
you then it was worth many,
many times it's price, and if it doesn't,
it was cheaper than a bunch of
plug-ins that you have to sell on ebay.
Yes, it has coding
instruction, indicators, system tester information
and explorer information
in it, so everyone can get something useful
out of it to apply to their
trading. However, what I think is the most
useful part of the newsletter is
the way it will change people's view
of trading and could help them find a
strategy that's comfortable,
consistent and easy to execute.
The
April and May issues are going to consolidate many of the things
that have
been said in back issues to this point. Then from June
through the next few
months Roy is going to have articles telling you
how other traders do
things so readers can contrast other's trading
methods and find what works
best for them.
Rather than give Equis $250 or more for plug-ins you're
not going to
get anything out of, you be far better off giving Roy $180 for
18
months worth of learning about how use MS to make money.
For
those of you who are tired of hearing me say Roy's newsletter is
an
important tool for learning to trade, sorry I bore you. I guess you
should
stop reading my posts.
If you're a subsriber, you know why I keep
posting these messages, and
after May you'll feel even better about where
you are and what you've
gotten.
Maybe someone else will give you
some feedback that one of the
plug-ins is the cat's meow when it comes to
trading. I don't know.
Have fun!
--- In
equismetastock@xxxxxxxxxxxxxxx, "calc103" <calc103@xxxx> wrote:
>
>
> I have Metastock 8.0. I have been learning the system
through
> Metastock Programming Study Guide. I am a buy-and-hold
trader.
>
> I am prepared to purchase three Metastock Add-On or
Plug-Ins.
>
> Which three would best suit my purpose?
>
> Thanks for any advice.
>
> calc103
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