Investment Software - What do you recommend for the beginner?

[The_Snowman]

You seem to be getting reply that answer the question - which charting software should I use?

I am looking at this software here, in regards to Investment; which is more along the lines of your query - you never stated your time frame, stocks or forex, etc.http://www.sharewealthsystems.com.au/

 

[robz7777]

You seem to be getting reply that answer the question - which charting software should I use?

I am looking at this software here, in regards to Investment; which is more along the lines of your query - you never stated your time frame, stocks or forex, etc.http://www.sharewealthsystems.com.au/

Hi Snowman,

Just been having a look at the link you posted about these guys.

Have you been using their system? Do you use their system as well as your own methods??

Cheers Rob

 

[wombat40]

Bullsystems aint to bad.....bullcharts is more expensive than metastock but is easy to use and teams up with tradesim .



If you can understand metastock language, can do your own systems with bullcharts.

can use bullsystems data...or request a key to use your own metastock data......


wombat..

 

[cudderbean]

Hey Guys,

Question is in the thread title, what investment software do you recommend to the beginners? Ive searched and come across many "which software?" threads but none that were suggested for the beginner that would also help with the learning curve for T/A. Also cost per month etc would be an issue for the newbies.

I realise most of this will be everyones so if you could, supply some reasoning as well

Cheers
Donkey

I'm a very big fan of Aussie homegrown Bullcharts. I think it beats the pants off Metastock and Supercharts (now superceded by Tradestation). I didn't like the clunky alphabetical folder system Metastock used in a version I bought years ago... may have changed now??

Bullcharts has heaps of inbuilt indicators and scans, and the programming language is fairly easy to learn to create your own. They maintain excellent fundamental data too all transferable into Excel or notepad. Their customer service is outstanding.. I get very prompt responses to all my queries.

The best feature of all for me with Bullcharts is the ease with which you can instantly import and export lists of codes into Excel or WebIress or from a tipster newsletter. I do a lot of my analysis in Excel also.

You can also copy price,vol,#trades data or an indicator data into Excel directly.. very handy if you want to get your head around exactly how the indicator works.

BTW, Webiress fees are free with some brokers... certainly with First Prudential if you maintain a trading account balance over>$50k.

Good luck, mate.

 

[The_Snowman]

Hi Snowman,

Just been having a look at the link you posted about these guys.

Have you been using their system? Do you use their system as well as your own methods??

Cheers Rob

Answered by PM in case anyone thought I missed the question

 

[davede]

You seem to be getting reply that answer the question - which charting software should I use?

I am looking at this software here, in regards to Investment; which is more along the lines of your query - you never stated your time frame, stocks or forex, etc.http://www.sharewealthsystems.com.au/

Yes. Seems most responses are about charting software.

What do you want your software to do?

There's a lot of different software out there that provides a lot of different functions;

- charting
- portfolio management
- accounting
- financial modelling

of course I'm a bit biased here but i'd say our software is the best for long-term investment financial modelling.

Some decent stock accounting software i've seen is from MAUS; Stock Market Plus it's called.

 

[Steve C]

Can I ask a very stupid question:

All these trading programs (Amibroker, metastock, Ninjatrader etc etc), can you actually buy and sell stocks through these programs? Are they actually a broker, and if so do you pay brokerage to the program owners? or just for research and then you log on to you commsec, CMC etc accounts and buy what you want?

 

[CanOz]

Can I ask a very stupid question:

All these trading programs (Amibroker, metastock, Ninjatrader etc etc), can you actually buy and sell stocks through these programs? Are they actually a broker, and if so do you pay brokerage to the program owners? or just for research and then you log on to you commsec, CMC etc accounts and buy what you want?

Not sure about Amibroker or Metastock for execution, but NinjaTrader, Multicharts, and many more that handle intraday trading, will execute through the API (interface). In other words you can use Ninja to send trades to your broker. Again, not sure about Comsec. Really the only time you need this functionality is if you are trading intraday. If your are trading End Of Day, then you can just place your trades through your broker.

Does this help?

CanOz

 

[Steve C]

Not sure about Amibroker or Metastock for execution, but NinjaTrader, Multicharts, and many more that handle intraday trading, will execute through the API (interface). In other words you can use Ninja to send trades to your broker. Again, not sure about Comsec. Really the only time you need this functionality is if you are trading intraday. If your are trading End Of Day, then you can just place your trades through your broker.

Does this help?

CanOz

Sure does, Thanks Canoz - Does anyone know if any of the programs that can link up to your online broker are compatabile with CMC?

 

[Trembling Hand]

Sure does, Thanks Canoz - Does anyone know if any of the programs that can link up to your online broker are compatabile with CMC?

No they don't. you need a broker with an API interface and then the software to support it. Mostly you are looking at US companies. Oz brokers are about 76 years behind.

 

[CanOz]

Sure does, Thanks Canoz - Does anyone know if any of the programs that can link up to your online broker are compatabile with CMC?

CMC is a CFD market maker, so you must use their platform. You are not actually trading a real market. They are creating a market that mirrors (hopefully) the market you want to trade. Most use Direct Market Access now...but TH or Joules could comment as they have or are using them.

CanOz

 

[Joules MM1]

No they don't. you need a broker with an API interface and then the software to support it. Mostly you are looking at US companies. Oz brokers are about 76 years behind.

i think that's meant to be 76.4 defibo years (like dog years but much worse)

 

[Trembling Hand]

CMC is a CFD market maker, so you must use their platform. You are not actually trading a real market. They are creating a market that mirrors (hopefully) the market you want to trade. Most use Direct Market Access now...but TH or Joules could comment as they have or are using them.

CanOz

Nah CanOz they now have both, CFDs and direct access to the ASX.

 

[CanOz]

Nah CanOz they now have both, CFDs and direct access to the ASX.

Ahh i see for stocks only?? Whats their brokerage like? Any idea?

CanOz

 

[Steve C]

Ahh i see for stocks only?? Whats their brokerage like? Any idea?

CanOz

$9.90 per trade, free conditional orders.

Australia's cheapest CHESS sponsored online broker.

 

[Joules MM1]

$9.90 per trade, free conditional orders.

Australia's cheapest CHESS sponsored online broker.

you want to check for monthly costs.....feed costs, subby costs.....if you short, extra costs overnight, too ......carry costs......

 

[Steve C]

you want to check for monthly costs.....feed costs, subby costs.....if you short, extra costs overnight, too ......carry costs......

As far as I know there are no charges for the basic CMC Markets stockbrocking package. You can pay additional for live feeds etc.

 

[So_Cynical]

As far as I know there are no charges for the basic CMC Markets stockbrocking package. You can pay additional for live feeds etc.

I was having a look at there site last night...they have 2 lots of charges.

Chess sponsored ASX shares: $9.90 per trade, free conditional orders etc.

And

CFD's with a totally different set of charges.

Don't confuse the 2.

 

[nulla nulla]

For what it is worth, the brochure from Interactive Brokers at the Sydney Expo gives the Australian Commission Rates for Stocks as "From $6.00 per trade (0.08% of trade value)".

I believe some ASF members use them and could provide further information on how they work.

 

[leyy]

Hi All,

Can anyone recommend a software to scan for stocks with certain criteria's?


I am after software that is easy to use and understand for beginners at coding language something which is very basic and can be used easily?

I know Amibroker and other softwares can do it, but I just can't understand all these scripts and coding language.

appreciate any help.

cheers

leyy