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Pro Trader software thoughts?

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bahoooga

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Hi All,

I read with interest 'exploding the myths' by frank watkins and investigate further (got the demo disk) from www.protrader.com.au

Has anybody got any comments about this software or any other software that scans the ASX looking for buy signals. I'm not talking about black box software here, you can specify exactly what you want to scan for.

It's 2.5k and 600 a year to resubscribe. The software doesn't seem too bad, little on the ameturish side I suppose compared to others that I've played with.

thanks
 
bahoooga said:
Hi All,

I read with interest 'exploding the myths' by frank watkins and investigate further (got the demo disk) from www.protrader.com.au

Has anybody got any comments about this software or any other software that scans the ASX looking for buy signals. I'm not talking about black box software here, you can specify exactly what you want to scan for.

It's 2.5k and 600 a year to resubscribe. The software doesn't seem too bad, little on the ameturish side I suppose compared to others that I've played with.

thanks
Click to expand...

Have you compared it to Amibroker, which costs only a few hundred dollars to buy, plenty of data options, some will cost, some are free. Metastock is another option, costs more than Amibroker. Fcharts is an Australian product, there is a free product and a paid one. All these will scan markets (not just the ASX should you want more) according to criteria you select. There are other software options to scan the market as well, plenty well under 2.5K.
 
I am a Protrader customer and user for many years. The market scanner finds most of the significant patterns that I want to see. They include, Darvas Box's, asc/desc triangles, MA xor's, MACD xors, STO xors, BBand breakouts, triple resistance, key reversals, volume spikes and a few combination scans designed by Frank Watkins. Some parameters may be altered in a few of the scans which allows some additional flexibility. The software will find the stocks that have started to go up and have made new highs.

This software is only a tool for finding charts with your desired setups. The software will not show you how to trade. The software will not make anyone a profitable trader. It does not include any backtesting facilities, nor does it have 175 indicators to play with. There are only five. As Frank states in his book, you only need one indicator as a confirmation filter (if any).

Trading is very simple, find stocks that are going up, place your order and manage your risk. I wont ignore the hardest task, ie. putting together a trading plan that you will be confident in and committed to follow. IMO using the Darvas box pattern as a trading setup is an ideal starting point for a new trader. The Protrader software will find these setups for you.

Note: The Darvas setup requires stocks making new highs. There are very few stocks making new highs in this current market (ASX). The few that are, are worth trading.

I believe that part of the purchase gives you access to the share recommendations of Protrader Securities. I know that they use the software to locate these stocks initially prior to additional fundamental analysis.
 
mccollr said:
Any updates to this software anyone ??
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Pro Trader Stock Market Scanning Software is now is in the Cloud. It still has all the same features and is quite intuitive to use. The pricing model has changed to $199 for the software which includes your first month of data for free. Thereafter you pay a membership fee either monthly, quarterly or annually.

There is a suite of markets available including Australia, Singapore, North America and Forex.

Pro Trader offers a free 7 day trial for anyone interested in checking it out.
 
peter2 said:
I am a Protrader customer and user for many years. The market scanner finds most of the significant patterns that I want to see. They include, Darvas Box's, asc/desc triangles, MA xor's, MACD xors, STO xors, BBand breakouts, triple resistance, key reversals, volume spikes and a few combination scans designed by Frank Watkins. Some parameters may be altered in a few of the scans which allows some additional flexibility. The software will find the stocks that have started to go up and have made new highs.

This software is only a tool for finding charts with your desired setups. The software will not show you how to trade. The software will not make anyone a profitable trader. It does not include any backtesting facilities, nor does it have 175 indicators to play with. There are only five. As Frank states in his book, you only need one indicator as a confirmation filter (if any).

Trading is very simple, find stocks that are going up, place your order and manage your risk. I wont ignore the hardest task, ie. putting together a trading plan that you will be confident in and committed to follow. IMO using the Darvas box pattern as a trading setup is an ideal starting point for a new trader. The Protrader software will find these setups for you.

Note: The Darvas setup requires stocks making new highs. There are very few stocks making new highs in this current market (ASX). The few that are, are worth trading.

I believe that part of the purchase gives you access to the share recommendations of Protrader Securities. I know that they use the software to locate these stocks initially prior to additional fundamental analysis.
Click to expand...
Hello @peter2
I was looking for historical postings on the type of software to be used. I noticed a few years back you have recommended for Pro Trader. Question is do you still use Pro Trader?
There are two kinds of software they are offering - Pro trader 5 and Pro Trader Pro. Which one did you use and what is the one you use.
I heard from one the posters (thanks to a lot mate), that he used Pro Trader and switched to Ami Broker.
Today I have asked Pro Trader and very astonishingly (poor marketing to pretend dumb :) the Pro Trader person from Pro Trader stated she never heard Ami Broker.
I will appreciate to know from others' experience as well on the type of software they are using.
Thanks in advance
 
Miner said:
Hello @peter2
I was looking for historical postings on the type of software to be used. I noticed a few years back you have recommended for Pro Trader. Question is do you still use Pro Trader?
There are two kinds of software they are offering - Pro trader 5 and Pro Trader Pro. Which one did you use and what is the one you use.
I heard from one the posters (thanks to a lot mate), that he used Pro Trader and switched to Ami Broker.
Today I have asked Pro Trader and very astonishingly (poor marketing to pretend dumb :) the Pro Trader person from Pro Trader stated she never heard Ami Broker.
I will appreciate to know from others' experience as well on the type of software they are using.
Thanks in advance
Click to expand...
I personally use Amibroker BUT to use it you either need the skills of coding (or learn it) or you can find systems such as Darvas Box that others have already built.
It was a 1 off payment for the software which covers upgrades within this major version and I pay for a Yearly subscription to AUD data for$360 from Nordgate. For me while having a look at ProTrader , for me it is limited to what scans they have hard wired in whereas if I want to think out of the box to be unique for my system, I have that ability to do that with Amibroker and also backtest the system as well.
It is a matter of choice and time I suppose.
Cheers
Greg
 
Bluboy1969 said:
I personally use Amibroker BUT to use it you either need the skills of coding (or learn it) or you can find systems such as Darvas Box that others have already built.
It was a 1 off payment for the software which covers upgrades within this major version and I pay for a Yearly subscription to AUD data for$360 from Nordgate. For me while having a look at ProTrader , for me it is limited to what scans they have hard wired in whereas if I want to think out of the box to be unique for my system, I have that ability to do that with Amibroker and also backtest the system as well.
It is a matter of choice and time I suppose.
Cheers
Greg
Click to expand...
Thanks @Bluboy1969
Since I posted, have tried to use few - Nick ProTrader; Jason's recommended charts; Equity Story . My challenge is to bring concentration and find required time after hard core 12 hours daily mine job. So I have convinced myself, that if I have to in then to leave day job. Waiting for that to happen to become a full time trader (no skill to climb up and down as a tradie :) )
 
Miner said:
Thanks @Bluboy1969
Since I posted, have tried to use few - Nick ProTrader; Jason's recommended charts; Equity Story . My challenge is to bring concentration and find required time after hard core 12 hours daily mine job. So I have convinced myself, that if I have to in then to leave day job. Waiting for that to happen to become a full time trader (no skill to climb up and down as a tradie :) )
Click to expand...
Yeah Miner
have heard about equity story, have a solid reputation from what I have heard. Same as you mate I am up in the Pilbara FIFO as well and this is to help build the nest egg for the day retirement comes if not before. I do follow Nick Radge a bit as well and bought one of his systems but am yet to implement it.
Greg
 
Bluboy1969 said:
Yeah Miner
have heard about equity story, have a solid reputation from what I have heard. Same as you mate I am up in the Pilbara FIFO as well and this is to help build the nest egg for the day retirement comes if not before. I do follow Nick Radge a bit as well and bought one of his systems but am yet to implement it.
Greg
Click to expand...
Birds of same feather
 
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