Trader Wish List – Eleventh Installment
I want to shift away from books and videos for this recommendation.
Metastock is the charting software package I have used for more than a decade now. If you have read The Essentials of Trading, you will know that I used charts and the results of system tests from that package as examples in the book. I continue to use it on a daily basis when I do my market analysis and write commentary.
In particular, I have worked with the End-of-Day edition because I generally do not need the functionality of the real-time versions. Regardless, though, the quality and functionality is outstanding. The software is on version 10 now, which gives you an idea of its longevity. And only a quality product will go on that long.
I have recently shifted from using the standalone version of the software, with a subscription to the DataLink feed to going with the subscription version. In talking with the rep, who was very helpful, I found it to be a better deal. Because I look at a massive number of different securities on a daily basis (stocks, forex, futures, indices) the subscription version made more sense as it includes everything. If you only need a limited number of data items, you might be better off going in a different direction. Either way, you’ll be happy with what you get.
Don’t just take my word for it, though. Metastock has been the recipient of numerous industry awards year in and year out. You can learn all about the different versions of the software – available in both online and offline editions – by going to www.equis.com.
That said, though, when The Essentials of Trading was released back in April, 2006 the promotion included a special deal from Equis. That deal is still available. You can check it out by visiting http://www.equis.com/essentials.
Struggling with support & resistance and knowing what the key market levels are? Check out the Price Distribution Analysis methods I use.
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