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Hello Dr.,
--Here goes. All of this is the truth as I have witnessed it. I wish
someone had been able to cram this in my head when I started.
Use your Metastock. It is not perfect but it is the best one out
there and has been for many years. You can get your data from Yahoo
for free. Download MLDownloader from www.trading-tools.com. It will
get the data from Yahoo and put it into Metastock directories for
you. If you like MLD, it is about $50.
Read everything you can get time to read about technical analysis.
There are many great books out there. Ignore "black boxes"
and "systems that will make you rich". Just learn to read charts to
the point that you can predict the next price move with 50% accuracy
or so. That phase should keep you busy for a few years.
There are no indicators or anything else that I know of (just 30
years at this) that will knock on your door or call you up and
say, "buy now". At least, none that work over time.
Strive to get good enough to make 60% to 80% of each major market
move out of the middle. Don't worry about the tops and bottoms.
Perfectionists get poor in this biz.
The very greatest asset a trader can have is experience. You didn't
acquire your medical knowledge in 6 months and you didn't find a
computer program that will diagnose your patients. It just takes time
and experience.
If you don't have the time or patience for the above, get a good
Certified Financial Planner with solid gold references and let them
take care of your money.
Read, read. Study, study. Paper trade, paper trade. Take your time.
Good luck.
- In equismetastock@xxxxxxxxxxxxxxx, "onebullandbear <ERDOC@xxxx>"
<ERDOC@xxxx> wrote:
> I am a doctor and a good one but have been humbled by the amount of
> work that it is taking to become a good investor. I started three
> years ago and they have been a tough three years but I will figure
> this out.
>
> 1. Are there any good resources for learning how to write
> explorations for Metastock. I have been making attempts with this
and
> have used Spyglass some.
>
> 2. Is there anyone that provides all available historic data (all
> data that exists for a security i.e. I am interested in having 50
> years of data for some stocks if it is available).
>
> 3. Does anyone have comments on any of the free data providers?
>
> 4. I would love any other pointers that you can give me and would
> gladly exchange medical knowledge for it if that would help you. I
am
> very interested also in options which I have been studying (and
> recently losing money in) and in futures as well, but want to
become
> good at the basics. Would love to get some explorations that you
have
> created and really like etc...
>
>
> Many thanks,
>
> Andrew Topliff MD
> erdoc@xxxx
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