Relevance of Metastock in Intra-day trading?

sh50

Active Member
#1
I have heard from a couple of sources that general Technical Analysis fundas are not really applicable in intra day or the application is drastically different from other forms of Trading.

In addition, I have come across charting services which charge as much as metastock. One wanders whether many of the fancy features of metastock are relevant at all for intra day trading or one can do with a less sophisticated and inexpensive software.

Any comments, traderji?
 

Traderji

Super Moderator
#2
It is not necessary to own an expensive technical analysis program for intra day trading.

However having said that, one would definately need to have a complete, well defined and robust trading strategy in order to be successful in day trading.

On the other end I know of many day traders who sit in front of a NSE or BSE terminal day trading the same stock for years without using any technical analysis tools. These traders are successful because they are subconciously following a trading strategy unknowingly or knowingly!
 

sh50

Active Member
#3
Thank you.

I suppose in all forms of trading, talent is more important than the tool. Since all the basics are there in all software, one wonders where Metastock's cutting edge lies.
 
Last edited:
#6
What is the price of Metastock software? I am new to trading and planning to do intraday trading. Please suggest me suitable charting software with good TA and its approximate cost.

Thanks
 

Similar threads

Broker Special Offers

Intraday Higher Leverage

Save up to 90% in brokerage and get higher leverage for intraday trades.

Name:Phone:
Email:City:
State:
Are you a day trader?