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Walter,
I once programmed FORTRAN IV & 77, at
least 3 types of BASIC, RPG II, Pascal, COBOL 66 & 74 so
I am familiar with how long it takes to get results. The use of PowerBasic
is intriguing, but I think the amount of time it would take to begin making
profits would be better served simply using packaged software. Traders
want to make money now, right now, preferably yesterday.
The best on the market, I believe, is RadarScreen.
Using Signal's $2000/year cable TV realtime feed and the RadarScreen
$2400 package, you can track every single stock in the US markets.
While it is expensive, you can begin making profits immediately instead
of taking a year to figure out how to program. Even if you become
a programming expert, there's no guarantee you will find a formula which
will consistently make profits.
About the MS v7 MSX capability: if Equis has followed past history
and only allows access to data of 1 or 2 tickers at a time per chart, I
really don't see how it's that revolutionary. In order for the
MSX feature to make any difference, you must be able to access as many
tickers as you desire all at the same time.
Just my 2¢,
Daniel.
Walter Lake wrote:
Hi Daniel and others
You wrote "... the average full-time trader wants to make money ..."
The questions arises, does studying TA, developing systems, learning
Elliot
Waves make money? I don't think so.
It is an identified market inefficiency that makes the money for you.
If you
trade where there is no identified market inefficiency, no amount of
programming, TA, study etc. will make money for you. Unfortunately
that is
the case with most traders and Metastock users.
Once a market inefficiency has been identified, often very simple analytical
tools will be used in the trading system. Then there is lots of time
for
programming and automating the system.
Learning to program is necessary, I believe, because with most of the
market
inefficiencies that I have seen traders trading, there are usually
no
publically available programs.
Unfortunately, all the retail charting programs point the new investor
/
trader into the promised land of TA and not towards discovering market
inefficency areas that the professional traders base their business
on.
Best regards
Walter
-----
From: Daniel Martinez
To: metastock@xxxxxxxxxxxxx
Sent: Thursday, November 04, 1999 10:08 PM
Subject: Re: Increasing the MetaStock(R) Formula Language with MetaStock
7
I concur. Learning to program is a complicated process.
I don't want to
put a damper on the celebrations here, but becoming proficient at
programming could take up to a year. That is, of course, if you
were to
spend at least 2 hours a day on VB. It's hard enough to learn
how to
program in VBA, now we are expected to program in full VB? I
think not.
Maybe when I'm not full-time trading, not system testing, not learning
new
TA methods, not learning Elliot Wave...
Fact is, the average full-time trader wants to make money, not learn
how to
program VB. I think a more efficient route would be for Equis
to create a
program similar to RadarScreen to track large numbers of stocks in
realtime.
I have been tracking a (much smaller) group of stocks delayed and this
is
definitely a way to spot moving stocks during the day.
Just my 2¢,
Daniel.
Walter Lake wrote:
Don
What you say makes perfect sense ... the installed base of VB and Excel
is
huge. What is this "Power Basic" nonsense to mainstream users ... just
more
"not really being helpful stuff" to confuse and complicate the issue?
Let me know when your program is ready. I'd be glad to work with someone
who
is trying not "trying".
Best regards
Walter
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