Is metastock really the best?

Traderji · #11 5th October 2004, 09:54 AM

Quote:

Originally Posted by CreditViolet

Sh50
Having in the business of TA I can tell you that the whole TA industry is a snakeoil one
Everyday somebody is coming out with new indicators new systems claiming to make fortunes.If you ask a simple question.
Why sell.
A lot of horsesh*t comes out of their mouth like we like to programme etc
OK then why charge this ridiculous amounts of money.No answer

A classic case of snake oiling Eg Larry Williams's Williams %R and stochastics

About your question,I would say that there is no need for you to even know about these indicators.Indicators are themselves lagging behind price.Go through the main indicators and as you become comfortable in them try to further optimize and look for better ones within metastock.Since most indicators just smooth the original one
Just use the system tester and see for yourself how MACD and RSI give you so many whipsaws.

Well, its good to know that we have one very experienced TA trader here!

Although it appears that you seem to have hectic working hours, I would really appreciate if you could contirbute more for the benefit of other members of this forum.

jaideep · #12 5th October 2004, 07:51 PM

CREDITVIOLET (I Like the handle),

U R right & I welcome more advice like this.

sh50 · #13 9th October 2004, 06:47 AM

Good adivce. I am only concentratng on the basic indicators right now. Your post has confirmed by sucpicion. these fancy indicators are more an act of salesmanship than anything else- more style than substance.

alokdaga · #14 12th February 2006, 01:36 PM

Quote:

Originally Posted by sh50

Good adivce. I am only concentratng on the basic indicators right now. Your post has confirmed by sucpicion. these fancy indicators are more an act of salesmanship than anything else- more style than substance.

In your view what indicators should one focus upon? Please advice

Alok

vince · #15 18th February 2006, 06:46 PM

Hi all,

With due respect to seniors and everybody else in this great forum, I personally prefer to concentrate on the price action and give indicators a secondary place.

Giving undue importance to indicators would be like the tail wagging the dog.

Lets not forget that it is the price / volume that moves the indicators and not the other way around.

AMITBE · #16 18th February 2006, 08:22 PM

Quote:

Originally Posted by vince

Hi all,

With due respect to seniors and everybody else in this great forum, I personally prefer to concentrate on the price action and give indicators a secondary place.

Giving undue importance to indicators would be like the tail wagging the dog.

Lets not forget that it is the price / volume that moves the indicators and not the other way around.

Dead On!
Exactly Right.

Indicators may be fine to get a hang of all the ideas behind TA.
But eventually the price/volume chart alone would be telling all the simple truths one needs to know..

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