Best software for a newbie?

[curiost]

I apologise if this has been covered before, but I quick browse though the tread titles and I couldn't find anything similar.

I've read through the software options, many common ones seem to by IncredibleCharts, AmiBroker, Protrader but what would be the best to get started? I'm looking at doing some paper trading for a few months to a year and learn as much as I can, but unsure about which program to go for. I'm pretty switched on when it comes to learning new software but don't want anything too daunting.

 

[Trembling Hand]

I would go with IncredibleCharts. Its free and not very adaptable but 1 month down the track you will know what you want and then take a step to purchasing something with more bells and whistles.

 

[Gringotts Bank]

I apologise if this has been covered before, but I quick browse though the tread titles and I couldn't find anything similar.

I've read through the software options, many common ones seem to by IncredibleCharts, AmiBroker, Protrader but what would be the best to get started? I'm looking at doing some paper trading for a few months to a year and learn as much as I can, but unsure about which program to go for. I'm pretty switched on when it comes to learning new software but don't want anything too daunting.

You want something free or paid?
What time frame will you trade in? intra-day, EOD, long term?

 

[curiost]

You want something free or paid?
What time frame will you trade in? intra-day, EOD, long term?

I'm happy to pay for something as long as its not too exxy (~$100-200) but free software is also an option if it does the same stuff as the paid ones. Seeing as I'm starting out I only need EOD data, (intra-day is too hard core whilst maintainig a full time job)

 

[Trembling Hand]

I'm happy to pay for something as long as its not too exxy (~$100-200) but free software is also an option if it does the same stuff as the paid ones. Seeing as I'm starting out I only need EOD data, (intra-day is too hard core whilst maintainig a full time job)

The real cost of software is in the monthly data.

 

[Gringotts Bank]

I'm happy to pay for something as long as its not too exxy (~$100-200) but free software is also an option if it does the same stuff as the paid ones. Seeing as I'm starting out I only need EOD data, (intra-day is too hard core whilst maintainig a full time job)

Incrediblecharts sounds right.

There's also a new browser-based charting called Tradingview which is really good, since it has stocks, forex and futures for free. But for ASX stocks, only the blue chips I think. Has a very handy risk:return graphic, and it's good to get to use that for your paper trading. If you sign up you can save your charts.

Later on, maybe Amibroker.

 

[curiost]

Ok great thanks for that I'll give incredible charts a go.

 

[curiost]

Ok great thanks for that I'll give incredible charts a go.

I've tried for 2 days to get a filter working and it should be so simple but I can't figure it out. I'm trying to get an upward trend over a period of 12 months. So far I have a 12 month ADX > 25 (to indicate a trend), but I can't figure out how to only isolate the upward ones. I've been playing with the Directional Movement DI+/DI- filter but it doesn't make I any sense to me. There should just be an "up" or "down" option Any help? I want up!

 

[debtfree]

I've tried for 2 days to get a filter working and it should be so simple but I can't figure it out. I'm trying to get an upward trend over a period of 12 months. So far I have a 12 month ADX > 25 (to indicate a trend), but I can't figure out how to only isolate the upward ones. I've been playing with the Directional Movement DI+/DI- filter but it doesn't make I any sense to me. There should just be an "up" or "down" option Any help? I want up!

Try Price Filter:
Go to Price
Go to Percentage Price Move
Select 1 Year in drop down box
Put, let's say 30 into the Min % box
Hit the Add button
Now adjust what you want to search for up the top, let's say:
Select Australia in Exchange box
Select All Equities in Sector box
Select Stock in Sort By box
Leave Index box blank
Leave Watchlist box blank
Leave Results/Page box as default
Now press Run Screen

This will now search for all stocks that have increased by 30% or more over the last 12 months resulting in you finding upward trending stocks over the last 12 months. But does not guarantee the stock is still going up at this moment.
Once the results are in you can go up to the header of %PM column and click in there and this will bring up the highest % moving stock to the top of the list.

Hope this helps

 

[curiost]

Thanks - I was able to work out the price filter before, it's pretty self explanatory. The price filter only looks at the price change between two fixed points in time, what I'm really after is a continual upwards direction movement/trend. I just can't figure out the settings :S

In the ADX or DI+ I undertand that "above" means bull market ie moving upwards but can't figure out how the other two fields work.

I honestly can't believe there wouldn't be a "trending up" option

 

[Gringotts Bank]

Thanks - I was able to work out the price filter before, it's pretty self explanatory. The price filter only looks at the price change between two fixed points in time, what I'm really after is a continual upwards direction movement/trend. I just can't figure out the settings :S

In the ADX or DI+ I undertand that "above" means bull market ie moving upwards but can't figure out how the other two fields work.

I honestly can't believe there wouldn't be a "trending up" option

You'd need Amibroker or something similar to do that, because it's not that simple..

You'd ask it to find stocks with, eg:

1) 200 day ROC > 70 and...
2) max peak to valley drawdown < 10%

 

[debtfree]

Thanks - I was able to work out the price filter before, it's pretty self explanatory. The price filter only looks at the price change between two fixed points in time, what I'm really after is a continual upwards direction movement/trend. I just can't figure out the settings :S

In the ADX or DI+ I undertand that "above" means bull market ie moving upwards but can't figure out how the other two fields work.

I honestly can't believe there wouldn't be a "trending up" option

Hi Curiost,

Go to Shared Screens, I have just added a screen called 'Trending up Stocks' this might help you or it might give you a few ideas.

Cheers ... Debtfree