Software - which one?

[dutchie]

For any new investor the choice of a software program can be confusing.

There are quite a few decent programs out there and new ones pop up every so often in what must be a lucrative market.

My advice to any newbie is not to buy any until you have investigated the whole investing scene to make sure that when you do fork out the $'s your buying one that suits what you need. There are many free sites and you can even trial some software.

Don't buy a black box!!!

 

[tech/a]

Amibroker is STREETS in front of anything else.

I use Metastock 7.2 and Tradesim combo only because Ami wasnt around when I started.
Actually nor were most computers.

Marketcast for intraday.SBS feed not net.

 

[dutchie]

Amibroker certainly is the one as far as value for money is concerned (bargain at $195.00 for standard & $399 for real time).

But before you get it there is so much free stuff out there to look at and to help you decide whether you need any software at all (especially in the early learning period).

 

[RichKid]

I can't understand why Amibroker is so cheap!! The API access is also great and makes it fully customisable, although I haven't got it yet to prove it.
It has calcualtion tools for portfolio testing (position sizing etc) and all the charting tools you need yet it's so much cheaper than Metastock- what's the catch? Is it the online support that MS gives or just MS's brand reputation that allows it to charge so much more? MS doesn't even come with position sizing tools.

I have got most of my info from the two sites for each product but will end up getting Amibroker once I decide to (wont be for awhile yet) as I need the position sizing tools to help track things in one place.

Someone did a long comparison of different software and costs etc on ASF last year (mid 2004??) I searched for the thread but only found a few others on software but not that particular one. If somene finds it please post the link here- thanks. Was it you GP or someone else? The thread had prices and EOD suppliers too.

 

[GreatPig]

The API access is also great and makes it fully customisable

I wouldn't say "fully customisable" - assuming you're talking about the plugin interface - but certainly very good. It allows you to write functions that can be called from the AmiBroker scripting language, and call back AmiBroker's built-in functions, but you don't get access to everything in AmiBroker (at least not that I've seen).

For example, you can't change the program's settings or directly manipulate the stock database (you can read the selected stock's price information, but not other stocks at the same time or change the stock information). And there's no access to its portfolio data.

So it's great for doing things based on the selected stock and its price information (including in back tests and explorations), but I haven't seen any ability to do much else.

Cheers,
GP

 

[mime]

What's wrong with using Excel spread sheet?

 

[RichKid]

I wouldn't say "fully customisable" - assuming you're talking about the plugin interface - but certainly very good. It allows you to write functions that can be called from the AmiBroker scripting language, and call back AmiBroker's built-in functions, but you don't get access to everything in AmiBroker (at least not that I've seen).

For example, you can't change the program's settings or directly manipulate the stock database (you can read the selected stock's price information, but not other stocks at the same time or change the stock information). And there's no access to its portfolio data.

So it's great for doing things based on the selected stock and its price information (including in back tests and explorations), but I haven't seen any ability to do much else.

Cheers,
GP

Thanks for the hands-on review GP, exactly what I was after, I don't quite understand everything you said because I don't have it but I think I get the rough idea. So looks like that explains some of the reasons why M/S is considered better (ie more expensive). Have you used the position sizing/money mgmt tools on AMibroker? Any good?

 

[pjonz]

Hi Guys,

New member here. I've bought the black boxes, used technical analysis, been to the courses and now I find I get my best profits with the least amount of time input from trading only fundamentally sound stocks.

The choice has been made extemely by using StockDoctor. It's going to set you back a grand or so but in my view its the best I have used for analysis... most of it is done for you.

I used to just use tech analysis but had as many wins as losses because the companies were usually fundamentally unsound.
This pgm removes the guesswork for selections.
I also use Metastock v8 for further technical analysis of stocks and for monitoring stop losses etc.

Free stuff will get you so far and its ok while learning. I still use a free data supply for Metastock. Any abnormal price spikes can be checked on asx.com.au and adjusted in Downloader.

It's always interesting to get others points of view.

Cheers
Pjonz

 

[wombat40]

AB is a good program...i use it but mainly just for scanning charts for setups....i hav no idea of the formula language .....Fcharts is also cheap and the formula language is easier...can be written in plain english(almost)

mark

 

[nhojmabon]

I have two very effective and powerful stock market programs that I'd reccommend,
Pro trader and Joe Sammons S.M.A.R.T program, together they help me "analyse" my stocks, they don't choose them for me.
You should always try the free chartings and software out first or get trial versions to see what suits you, I use numeric and visual charting software for my methods of trading.

Currently I'm working on my own software that'll be free but it will be more for short term traders and people who know about finding "inside-trading" without news and while there's time to make a large (sometimes small) profit.
http://nhojmabon.tripod.com, maybe you people could help me develop this project so all traders including yourselves could benefit.

I believe no matter what software you have, if you don't know how to analyse the data it presents to you it won't help you out.

Happy trading

For some free charting try www.asx.com or you can download a free trial charting program at www.incrediblecharts.com, that should do until you buy your chosen software.

 

[Porper]

I have been using Incredible charts for a while now.Being a beginner I find it more than adequate.It has loads of indicators, lot's of different settings for scanning your selected criteria.Has annoying adverts, but that's ok after a while, plus it's very cheap .......... free.

 

[wombat40]

dont know about sammon but Protrader is too pricey at $150 a month just for data....ive had the program for a while now but get more info and tools in FCharts and is only a fraction of the cost...

also incrediblecharts does easily as good as protrader....

 

[Mofra]

Howdy,

Just wondering if anyone has ordered the charting software booklet from the ATAA? In the process of various upgrades myself, looking for a basic charting package however most don't offer swingcharts as standard - the primary reason I didn't renew my HUBB Optionlink data package.

 

[GreatPig]

Just wondering if anyone has ordered the charting software booklet from the ATAA?

Yeah, I've got that somewhere. It's pretty much like a big spreadsheet of all the popular packages with a summary of the features of each.

Not much detail about anything though.

GP

 

[GreatPig]

you can't change the program's settings or directly manipulate the stock database

Regarding this earlier comment of mine about AmiBroker, I've since noticed that it also has a Windows automation interface that allows writing scripts to directly manipulate the database. I've never used it though, and am not really familiar with the Windows automation object model.

Cheers,
GP