Trading software

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chicote

Registered User
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Hi All,

Just wondering if anyone out there has bought any trading software, in particular software for charting elliot wave? all very pricy and not sure which one is best, if any traders out there currently using, would appreciate your advice? thanks.
 
What products are you looking at? What are you looking for the software to do, ie, do you want simple intra-day charts or are you looking for scanning/screening criteria, etc?

Re. Elliott wave, have to say I'm not a fan - think it gives technical analysis a bad name. It's so subjective, it's not unusual for practitioners to be at each other's throats, with one guy saying that a stock is in the midst of is third wave and another saying saying that no, it's in a completely different wave stage. Gives me a headache just thinking about it. As far as i know, the founder of the theory died broke...

I mention the above because I'd be wary of some software product that offered supposedly definitive wave analysis. As I say, it's very subjective stuff.
 
Elliott Wave theory is a great way of predicting the past. Then again, you could say that about a lot of Technical Analysis....

My take on your question - all the software is too pricey, so just do your own thing.
 
Success at trading will be determined more by exemplary money management and perseverance than any analysis that you apply - this follows logically from the fact that no software, or technical or fundamental analysis will prevent you form having losing trades, the best traders in the world have losing trades - it's how you cope with them that will determine your success !
 
I've monitored EW over the past two years or so and found it's accuracy to be very questionable, with nothing like the 70% accuracy so called successful traders claim (who sell the software)

EW is based on historic patterns, which are pretty much useless in today's volatile, fearful and illogical market.

IMO - an EW buy signal is probably a sell and vice versa at the moment.

I prefer to use my crystal ball and monkey to pick stocks :rolleyes:
 
I would be interested to hear what "trading technology" people here DO use. Mine is a simple excel spreadsheet to calculate profit and loss and monitor risk (i.e. % equity, commodity, bond, cash). It grabs realtime data from web, yahoo etc. A macro saves valuation and risk to another excel spreadsheet so I can see how the positions are doing. Does anyone have anything better?
 
Have you checked out the yahoo beta charts? Lots of new additions and good simple tutorials to show relevance....
Perhaps they are too simple for your needs.
 
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