|
PureBytes Links
Trading Reference Links
|
Sorry to say Dave, MS isn't going to take the mystery out of anything.
There aren't any add ons that are going to make you money. Think about it for second. If MS had an add on that made anyone any money, they couldn't keep it on the shelves. MS would take over the trading world. It hasn't, and it won't.
Every guru, book, seminar course, add on, etc promises all kinds of stuff, but as you'll soon learn these products don't come with any back test results, at least not of any significance. Some have a very limited back test time frame that makes it look like the system identified every up turn in a stock's price. Those time frames are almost always limited to uptrends. When 65% to 85% of all stocks are going up, it's easy to make money. In an uptrend sometimes I use lunar cycles, and at other times I look Chinese astrology, which has a very good trade record. In fact, Chinese astrology performs much better than Gann Charts and Elliot Waves. http://www.fourpillars.net/finance/index.php
June is the month of the Horse and once again the cycles have been right on. You may notice that as accurate as the Chinese cycles have been in predicting broad market performance, MS includes zero indicators, systems or support for this type of cycle analysis. There isn't even a good plug-in available.
Disregarding Equis's lack of interest in Chinese Cycles, what MS is missing that might actually help users is a simulation module. With this tool someone could practice trading their strategy on actual historical data as it's being feed in one bar at a time. Then they could record their simulated winners and losers and see how they did with the trading method they chose. Once they know those numbers, then they could simply cut those results in half and that's about how well they could expect to do in live trading. With a simulation module they could select time frames representative of different market conditions. That would be useful.
Using a simulation module, you would soon learn that it's easy to make money when the market is in an uptrend and hard in every other set of circumstances. Consistency is very, very difficult to achieve. It's the lack of consistency that drives supposed trading guru's to sell books, seminars, and software. If there were tons of money to be made trading, certainly it would be more profitable to spend their time trading than "teaching" other people to trade. Well, the market place speaks volumes about where the money is really made in trading, and it ain't looking at charts in MS.
Roy has some excellent articles in his newsletter that explains some strategies for trading that might give you a clue as to how this all works. That's the best add-on you can buy. Get in touch with Roy and see if he will sell you a compilation of the trading articles he's published over the last few years. Metastocktips
http://www.metastocktips.co.nz/
Good luck, Dave.
Super
--- In equismetastock@xxxxxxxxxxxxxxx, altabear <no_reply@xxx> wrote:
>
>
> Has anyone tried Greg Capra's Pristine Method Pattern Scans
> <http://www.metastock.ca/default-yg.aspx> ? Since I'm a very new user,
> I'm curious which sort of "basic" addons I should get for MetaStock.
>
> The Pattern Scans addons is supposed to tell you a reason that you
> should get into a trade. Also, when to get out of it, and if you should
> be aggressive, or otherwise - with respect to that trade.
>
> The whole "investing thing" has always seemed pretty intimidating, but
> at least with Metastock it seems a bit less mistifying. If anyone has
> used Pattern Scans, some feedback regarding how it works would be
> helpful.
>
> Thanks
>
> Dave
>
------------------------------------
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/equismetastock/
<*> Your email settings:
Individual Email | Traditional
<*> To change settings online go to:
http://groups.yahoo.com/group/equismetastock/join
(Yahoo! ID required)
<*> To change settings via email:
mailto:equismetastock-digest@xxxxxxxxxxxxxxx
mailto:equismetastock-fullfeatured@xxxxxxxxxxxxxxx
<*> To unsubscribe from this group, send an email to:
equismetastock-unsubscribe@xxxxxxxxxxxxxxx
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
|