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First you should decide what type of trading you want to do. This
will eliminate many packages.
One of the important things to consider is whether you want to do any
of your own coding. MetaStock for example has an extensive community
of vendors that will sell you pre-programmed solutions. (Whether these
programs will actually make you any money is another matter entirely!)
there are many in the TA community that think coding your own
indicators allow you to 1. understand your indicator's strengths
better than 'black box' solutions. 2. allow you code unique solutions
that may give you the EDGE that many traders think make them profitable.
Try visiting www.elitetrader.com - there are forums for essentially
all of the major TA packages there - un-flattering comments and all.
Here are some things to consider about this small business:
1. The barrier to entry is very low. A few thou for computer
equipment and a few more to open an account.
2. The mechanics of entering and exiting trades are quite simple.
Maybe too easy.
3. The competition therefore is very tough. There are lots of very
smart and educated people on the other side of your trades only too
glad to take your money.
3. And so like most small businesses, there is a very high failure rate.
The waters are black, and full of sharks.
--- In equismetastock@xxxxxxxxxxxxxxx, "Harry M. Ward" <hmw3@xxx> wrote:
>
> On 25 Dec 2006 11:41:06 -0000, "halfover" halfover@xxx wrote:
>
>
> >>Please compare and contrast Metastock software with some of the other
> >>TA products such as TC2007, Omnitrader, Vectorvest, etc. There are
> >>many packages available and I am having a difficult time sorting
> >>through them all.
>
> No software seems to do everything--each program has strengths and
> weaknesses, depending on what the user wants.
>
> Each of the above software you listed have forums on Yahoo. I suggest
> you go to each of them, and read all the messages for the last 6
> months or so. That will give you an idea of what frustrates users
> about that particular software, and how active the user community is
> (which is where you will get the most help).
>
> Then try the ones you like on their free trial (most are 30-60 days),
> remembering what the current users complained about most. That should
> give you an idea of whether the program(s) meet your needs.
>
> Several of the vendors have their own forums. There is often good
> information there also. However, most of these are moderated by the
> vendor, and often they will NOT post messages that point out problems,
> or are uncomplimentary to the product in any way. So you may get a
> one-sided view by just visiting them. The Yahoo forums present both
> sides.
>
> Harry
>
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