stock market trading software

Thanks for that charttrader. I can see the sense in what you are saying about looking for a point of support on the chart as a guide to position the stop loss rather than having a fixed 'rule of thumb'.
 
For example, despite today's carnage on Wall Street
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Take a look at the Dow Jones for a text book example of technical analysis today.
Draw a horizontal line on the daily chart where the previous support was found , around 13,380. Switch to the intraday chart(e.g 30mins) and see what happened today - it was basically in freefall and when it hit 13,380 it bounced back up another 150 points.

I dont trade indices day to day but when there is a big move like today its useful to look ahead at where it might be headed and if there is a possible bounce. Dont try and predict it, just wait for the confirmation. If you were using a candlestick chart today you would have seen it as a doji indicating reversal and then a green candlestick moving up to confirm.
 
Take a look at the Dow Jones for a text book example of technical analysis today.
Draw a horizontal line on the daily chart where the previous support was found , around 13,380. Switch to the intraday chart(e.g 30mins) and see what happened today - it was basically in freefall and when it hit 13,380 it bounced back up another 150 points.

True, although TA sceptics can point out that it cut through technical support earlier - the 50-day ma (13600) was pierced like it wasn't there.

Intra-day traders should check out yesterday's US action on the 5 and 15 minute charts with 10 and 20 period moving averges (EMAs rather than SMAs). Going short on bounces to the 5-min EMAs was profitable right up to 3 p.m. Once that level was surmounted, the market rallies only for sellers to re-emerge at the 20 EMA on the 15-min chart. Textbook stuff.
 
gonk said:
You're right, it has been rising steadily for about 4 1/2 years. Before that though, it had a near 50% drop between Jan 2000 and Jan 2003. It's still not quite back up to its Jan 2000 peak.

Is it due a drop now? I've no idea - watch the trend :D
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Just found this thread because I did a search for Metastock.

Extraordinary what is hinted at in a few of the posts given the date of the thread - July 2007. Did any of you go short?!

I used to use Metastock a lot up to about 10-15 years ago, but got out of trading when I invested in property - which I sold in 2005 - phew!

I now want to get back to trading on a small scale. I've been in touch with Metastock about buying the current version. Mine won't work with current end-of-day-data (EOD) vendors.

1. Anyone here using Metastock and, if so, who are you getting your EOD from?

2. My tip for a book well worth reading is "Trading for a Living" by Alexander Elder.

3. Is IG Index still the recommended online broker three years on from when this thread was first active?

Thanks.

D.
 
I now want to get back to trading on a small scale. I've been in touch with Metastock about buying the current version. Mine won't work with current end-of-day-data (EOD) vendors.

1. Anyone here using Metastock and, if so, who are you getting your EOD from?

2. My tip for a book well worth reading is "Trading for a Living" by Alexander Elder.

3. Is IG Index still the recommended online broker three years on from when this thread was first active?
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check out MLDownloader. It's a one off cost of something like $50 and you use it to pull EOD data from sites like yahoo etc. for free. No need to pay a monthly fee!

And for real-time data, people don't realise they can throw a 100 euro into someone like IG index and get free real-time data, not need to pay some monthly fee for that! Alright, the Spread betters make their own data but imo you can use it as a proxy for the real market. Well in fact for US shares i've seen no difference between the two. A downside though is IG do have alot of US shares but not all. So you'll miss out on some. So you could use IG to get your real-time quotes and then some cheap broker to do the trades.
 
Stock market trading software is very crucial because of its technical indicators. These indicators are a powerful source of confirmation for any particular pattern or trend formation in a stock. This software will also represent a wealth of knowledge about the balance of stock market.
 
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