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I am new to MetaStock and trading software in general. I'm running the 30-day evaluation download and I'm trying to sort it all out. Lots of great stuff it seems, but I'm a little overwhelmed. A couple of questions for the experienced traders and MetaStock users out there:
- How is MetaStock better (or worse) than some of the competitive products?
- What are the top 3 things I should remember when using technical trading software and MetaStock in particular?
Thanks for any feedback!
Okami
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Rank: Advanced Member
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Joined: 10/28/2004(UTC)
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Was thanked: 16 time(s) in 16 post(s)
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Okami wrote:I am new to MetaStock and trading software in general. I'm running the 30-day evaluation download and I'm trying to sort it all out. Lots of great stuff it seems, but I'm a little overwhelmed. Welcome. There is a lot to learn about a lot of things, especially if you are going to attempt to learn about trading at the same time as learning about software and technical analysis. Okami wrote:How is MetaStock better (or worse) than some of the competitive products? MetaStock is a charting tool, not to be confused with a trading platform. One uses MS to display data and to apply a series of tools to that data. These tools can be the built-in that come with the package or you can write your own in the very basic programming language designed for traders not professional computer programmers and scientists. This makes it different to a lot of other "charting" packages where a lot of time and effort is put into creating even the basic set of indicators using very powerful programming languages with a steep and long learning curve. For the basic trader or the trader that just wants to switch on their computer and "see" the markets MS is excellent, a market leader. If you want to extend the capabilities of the MS programming language to perform more complex operations, you can, but you are not required to. This is a big difference between MS and the others. Okami wrote:What are the top 3 things I should remember when using technical trading software and MetaStock in particular? KISS = Keep it simple! Never take any indicator or code on face value. Always consider the capabilities and limitations of the indicator, the market, the software and yourself. Hope this helps. wabbit [:D]
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Rank: Newbie
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I do have competitive products also, but I think Metastock is the best. It is my core program. Metastock has some great things the competitors don't have. There is no perfect system, but in my opinion Metastock comes out on top.
The RMO Indicator in version 10.1 is phenomenal. I also love a couple of their plug in's. I especially like the Adaptive Cycle Toolkit (ACT plug in) and the ETS trading system plug in.
Also, the tech support is the best in the business. Also, other programs have come and gone, but Equis has longevity. I've had the program since 1988.
Most people learn technical analysis by trial and error........ mostly error. You have to remember that it won't guarantee trades, nor will any software. You have to understand the bigger picture of where the market is. Until you can do that, you are at the risk of the market. Finding a great stock to buy in June of 2000 would have been a horrible investment, especially for the short term. ...... Find some methods to help yourself out there.
The RMO and Plug in's might even be able to help out there, especially on a weekly chart basis.
In summary, it is excellent software and I use it every day. I don't leave home without it.
Jim M.
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Rank: Advanced Member
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Joined: 4/1/2006(UTC)
Posts: 135
Location: Romania
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Jim_M wrote:
I do have competitive products also, but I think Metastock is the best. It is my core program. Metastock has some great things the competitors don't have. There is no perfect system, but in my opinion Metastock comes out on top.
The RMO Indicator in version 10.1 is phenomenal. I also love a couple of their plug in's. I especially like the Adaptive Cycle Toolkit (ACT plug in) and the ETS trading system plug in.
Also, the tech support is the best in the business. Also, other programs have come and gone, but Equis has longevity. I've had the program since 1988.
Most people learn technical analysis by trial and error........ mostly error. You have to remember that it won't guarantee trades, nor will any software. You have to understand the bigger picture of where the market is. Until you can do that, you are at the risk of the market. Finding a great stock to buy in June of 2000 would have been a horrible investment, especially for the short term. ...... Find some methods to help yourself out there.
The RMO and Plug in's might even be able to help out there, especially on a weekly chart basis.
In summary, it is excellent software and I use it every day. I don't leave home without it.
Jim M.
oh man i have to comment this one
RMO is no better no worse than MACD or mov(c,200,s) or ema or dma or tema or whatever indicator of this type u want. I don`t understand what is behind ur afirmations, behind mine are tests and i can prove it anytime. RMO is no better than MACD i repeat, absolutley 0 difference.
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