Metastock Predictions

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ilia king

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I currently use metastock 8 professional, I like to use the expert advisor (who doesn't :cheesy: ), however nearly all the signals are given on a two week basis. Is there an indicator (a bit like stoch rsi) that would give me buy and sell signals within a week?, or days even. :eek:

Many Thanks
 
I think I found one - PS MESA SINE WAVE
 

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Hi ilia king..

I use MS as well...and I have learned to treat the Expert Advisor with a with careful caution...

In a way I don't use Expert advisor...not I use System tester as I know there are flaws in the coding...This has been explaind in great detail on MS users Site in Yahoo....

Charts are the ones that show all...and I tend to rely on that more then these gimmicks...

I use P & F (indexia) and use Explorer the most as it nicely filters all items that fits YOUR requirements....and after that few charts and decision to buy or short...

However please give feedback if you think that an Expert Advisor proves profitable...I have not had any consistent sucess with it...but then I consider myself as a beginner and not an Expert Trader...so I look at anything that is discussed and then decide to follow it up or ditch it...

regards
 
Zambuck, I'm not sure what you mean? :eek: How does the software contain flaws. It makes wrong predictions or does it just lose all your money? :cheesy:
 
Ilia King

Please see the discussions in the link below....there are many points discussed there....you may need to go back in archieves.,..

You may find that people have raised questions about few bugs in the 8.01 ver...some are still using 7.22 rather than 8.01...

With any new version have caution before diving headlong and making trading decisions...I still use 7.22 along with 8.01 for confirmations..

http://groups.yahoo.com/group/Metastockusers/message/9204

regards
 
ilia king said:
I think it looks pretty good - but feel free to comment.
Click to expand...

IMO, visually I think it's amazing how for many of us the brain can see what it wants to see. Because we are looking for a system that works, then when we look at a chart like this, we look for confirmation that it does in fact work, rather than looking for the negatives.

I assume that the data is daily data, and that the arrows are only issued once the bar is finished ? If so, you can only act on it the following day, in which case there are obviously some good trades, but there is also a heck of a lot of whipsawing. I dont think a simple visual appraisal is adequate in this or any case. There are many other questions that I would want to ask myself eg is my trade entry the next day conditional ? Or on open ? Where are my stops ? How much of my capital am I prepared to risk per trade ? How do I trail my stops ? etc

rog1111
 
rog1111, I've read Trading in the Zone, and know what you mean, but it's very difficult not to.
 
ilia king said:
rog1111, I've read Trading in the Zone, and know what you mean, but it's very difficult not to.
Click to expand...

ilia

Yes, I agree, I also find it very difficult. Some serious backtesting usually brings me back down to earth with a bump though. Its amazing how a great looking chart with great looking indicators can turn out to be a losing proposition when backtesting is done realistically.
 
zambuck, I can't access the site, do I need a membership with yahoo. Also rog111 I too am not sure of when to buy, the arrow points to the days low, but I'm not a day trader. Is there a way of changing it to 'close data'. And yes the data is daily data
 
ilia king said:
zambuck, should I then use Metastock 7.2 - because I've still got it?
Click to expand...

Best way to establish the validity of results is to use both packages with same parametrs and see the results...many more experienced users of MS still continue to use 7.22 and keep 8.01 ticking over...

I have a feeling that 8.01 system tester will be overhauled in next release...

regards
 
Refering to my earlier post, when would I need to buy? The sell arrow points to the highest price, and the buy points to the lowest? Would I need limit orders for this. And is it possible for Metastock to do Automatic Trading like Tradestation, for example get a piece of software that links it up to your broker.
 
Below is the same chart- just instead of a barchart, a line on close chart.
 

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ilia king said:
...................And is it possible for Metastock to do Automatic Trading like Tradestation, for example get a piece of software that links it up to your broker.
Click to expand...

You can link MS to your brokers....there is a facility to do that....see the manual and also talk to the broker you use...they may already have cutomers with your requirements

regards
 
ilia king said:
zambuck, I can't access the site, do I need a membership with yahoo. Also rog111 I too am not sure of when to buy, the arrow points to the days low, but I'm not a day trader. Is there a way of changing it to 'close data'. And yes the data is daily data
Click to expand...

Personally I prefer to go in on a stop order only if/when the high/low of the previous day was broken. Seems to produce much better backtested results then just using the market open. I dont think that using the previous close is realistic.

GL
rog1111
 
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