Ideal software for a TA beginner

jaideep · #1 10th November 2004, 07:30 PM

Please someone; what is the ideal software for a novice to get, preferably free on trial or otherwise?

Traderji, CV, sh 50 .......& all you other big guns, I have read all that you have been saying on this forum on the subject but everything over my head until now. I am such a green horn that I can't even follow what you guys discuss about. I know I am in the right forum because there is such a flood of wizards here who are doing the same thing that I do, TRADING on the bourses. How do I trade; please don't ask. By sheer instinct & picking up crumbs & such from here & there. Not very succesful but not a dismal failure either.

So, is METASTOCK OK? Thanks to Joy his contact has offered me a v8.0 at an affordable price. I'll tap this forum again to kick me along the way, especially the EOD quotes download bit.

AND last but not the least, maybe I need to read some stuff too, which ones?

)

CreditViolet · #2 11th November 2004, 01:25 AM

Hi Jaideep

First the software.
The best ones for beginners is Amibroker for sure.No two ways about it.
Metastock is a legacy product,it is no doubt good but not the best by a long shot.In charting nothing comes close to Tradestation and for systems WealthLab.I dont know why so much of talk surrounds metastock.Its a myth perpetuated by people who havent seen the new generation of software that have cropped up recently.

To guide you step by step
1.Get amibroker from www.amibroker.com
2.For data get data bull from www.databull.com.Its free for 50 symbols which is good enough to get started
3.For live charting nothng beats quotetracker www.quotetracker.com

Configuring problems if any let me know and i will help you out

And Shubh Deepawali

CV

andy · #3 11th November 2004, 10:16 AM

ALthough a beginner may find MetaStock much easier to use, Amibroker is it and now it has the "Click & Pick, Drag & Drop" interface like MetaStock.

jaideep · #4 11th November 2004, 10:39 AM

Thanks CV,

Appreciate your prompt response & advice. You said AMIBROKER and AMIBROKER it will be for me. Shall follow your guidelines & revert as and when I need to get unstuck anywhere.

Thanks to you too Andy for re-inforcing the AMIBROKER recommendation.

Cheers & DIWALI GREETINGS again to you both.

andy · #5 11th November 2004, 10:49 AM

Quote:

Originally Posted by jaideep

Thanks to you too Andy for re-inforcing the AMIBROKER recommendation.

You can always donwload the free one month trial and check it out yourself.

jaideep · #6 11th November 2004, 10:53 AM

Quote:

Originally Posted by andy

You can always donwload the free one month trial and check it out yourself.

Have done just that Andy, even as I am posting this reply to you. Shall set up the trial version right away & get down to business. Thanks again.

bvinod · #7 11th November 2004, 06:22 PM

Hi,

Please explain how to download data for Indian Markets into AMIBROKER.
I have just downloaded the trail ver.

Regards,
Vinod

jaideep · #8 11th November 2004, 07:58 PM

Quote:

Originally Posted by bvinod

Hi,

Please explain how to download data for Indian Markets into AMIBROKER.
I have just downloaded the trail ver.

Regards,
Vinod

Check CV's post above Vinod. Step 2 says downoad Databull software @ www.databull.com. The software is free & once installed just use the on-line help which details steps to download data into Amibroker. Amibroker must be running in the background with an empty open workspace. Data will directly download into Amibroker. The trial version of Amibroker does not allow saving of your database so you've got to work on it & exit when over. Download data again when you need to work in Amibroker.

CV, forgive me for sounding teacherish above. Am feeling a little fired up once I did all the above & got my required data into Amibroker just following the on-screen instructions & on-line help. Now I have to get to the nitty gritty of TA. Incidentally, any books for me to get on TA, e-books or otherwise??

CreditViolet · #9 11th November 2004, 11:18 PM

Hi Jaideep

Welcome to the TA jungle where snakes are not the dangerous ones but the snake oil

.Ok as you look ready to go here are a few tips

For everything you need to know about technicals you will get them here
http://www.equis.com/Education/TAAZ/index.html
Steven Achelis's master piece

And you will find lots of info on indicators here
http://www.linnsoft.com/tour/iad.htm

Dont try to read or visit too many sites,just get the basics rock solid before u make the jump.Also if you get stuck somewhere,dont hesitate to ask.

CV

jaideep · #10 12th November 2004, 01:55 PM

Thanx CV, am on my way.

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