Hi, I new to this forum and for the past 5 yrs, I've been learning to trade reading tons of books and applying my own methods of trading. Each year, I've been improving from 1 yr=(-20%) to 5 yr =30% on mostly fundamentals and analytical news. But as of the past 6 months, I've started dwelling on Technical analysis and was introduced to StockFinder - (Worden) by Alexander Elder's Webinar. I've used StockFinder Platinum for 1 free month thru their special promotion and really like the easiness of creating different indicators and back scanning. Then, I wanted to see other softwares were available and tried Esignal Pro, but I was very disappointed in it and went back to StockFinder. For those of you, who are well experienced and tried many different trading software. Please provide your take. Thanks
I tried StockFinder back when it was still called Worden Blocks. It's an acceptable package -- the scanning and filtering based on technicals is first class, yet there are many websites which achieve the same thing. On the downside, the charts were just passable, the software doesn't contain any pattern recognition features, and I didn't care for any of its proprietary indicators. Wealth-Lab is a very similar package in that it's got a ton of basic technicals and scanning features, yet lacks most practical applications. All in all, neither StockFinder nor Wealth-Lab fit into my analysis workflow.
If you are returning 30% mostly on fundamentals and analytical news,why on earth would you start dwelling on technicals?? Do yourself a favor and keep it simple.Utilise a program such as Amibroker or Stratasearch that may enhance what you are doing,but that should be the extent of it..Most traders here would give their left nut to return 30%
Out of what I've tried, I'd have to say Nirvana Systems' OmniTrader with the Chart Pattern Recognition Module 3 add-on to be the best. I found its detection to be the earliest with the least false positives. If you're interested in the kinds of signals this package generates, try a trial subscription to their daily scans, which uses the same algorithms, at PatternScans.com. That software is expensive, however. A cheaper offering is Recognia.com. But I found the Recognia engine to be a bit too aggressive which yields somewhat polluted results. You can also try FinViz.com which has some rudimentary recognition and is free. Let us know what your experiences are with these, and happy trading, -Ed
TaoWave, Since I started using Technical patterns I noticed more supporting evidence to why I bought or sold the stock. TA has given me more confidence and ROI %. That's why I'm in search for a better software. 30% is great, I feel that I still have room to gross more profit. Especially if I can thrive in the crazy flucuating stock market.
Thanks Ed. I'm going to try out Nirvana Systems' OmniTrader and see how well it detect the patterns I generated.
Here we go again. Search for: "taowave" author + "stratasearch" keyword 12 posts found, most pushing the product or comparing it to unrelated but very popular programs like Amibroker or Omni Trader.
And your point is??? I personally use Stratasearch and Amibroker with Quotes Plus as the data feed. They are very different programs,but have a similar formula language.Omnitrader is a completely different program and I would not use it. The OP is performing exceptionally well and wants to incorporate technicals.If you dont want to spend countless hours building systems,StrataSearch is a great way to go.AmiBroker is more powerful in it enables complex money management,better charting and other features.For the price,there is no better value.. If you have nothing positive to say,or counter with some degree of intelligence,just crawl back from wherever you cam from..