Technical analysis is a vast subject and people(traders,investors,amateurs) are slowly realising this science as a gateway to successful intra-day trading and yes, long term investing, using some technical analysis software and trying to figure out what is expected the next day on the basis of stock filtration technique using some in built parameters in the software.
One such software is Metquotes, which can be downloaded from http://www.metquotes.com and is developed by myself in vbasic .net, this software uses my scanning methods and generates reports on the basis of the filtration methods using the End of Day stock quotes which are also downloaded by this software from http://www.nseindia.com
This software does scanning only on EOD(End of day) data, it does'nt provide real time data, now you will ask a question that why is this software based on EOD instead of real time data? the answer is, its not required at all.
Many traders these days are buying real time feeds from vendors on the websites and paying them nearly 3000-5000 monthly only for the real time feeds, which are mostly compatible with METASTOCK PROFESSIONAL, an Equis product, available at http://www.equis.com
What I tell to my clients...is that you don't need real time feeds from these vendors, instead choose a good broker which can provide real time quotes in a trading terminal which can be very economical and you have to pay only one time fee, Rs200 or Rs500, thats it!
The trading terminals have real time quotes and the stock graphs can be seen in those terminals, the prices of stocks change every other second in that terminal.
I have used all trading terminals, the best currently which is available is Angel Anywhere, from angel broking, www.angeltrade.com
Their software is pretty good designed for professional technical analysts. You can see at a time 6-10 graphs easily on the terminal, plot all types of indicators on the graphs and you can have bar and candle graphs. I normally use candlesticks for analysis so by default when I login into Angel Anywhere software, all the settings are loaded, which obviously I saved from last login.
My trading method for intra-day is, by scanning EOD data from METQUOTES, i choose the best stocks on the basis of volume and price breakout, then I do analysis of charts of the chosen stocks in METASTOCK PROFESSIONAL, and calculate the resistance and support levels.
The next day I track the same stocks and take buy/short sell positions in those stocks.
This looks pretty easy but requires lot of hard work, the phrase EASY MONEY, doesn't exist in the technical analysis field.
The main system which reduces my technical analysis time is METQUOTES, since it scans the break out stocks, and filters the laggards.
Metquotes is at http://www.metquotes.com
Data downloaded by metquotes is compatible with Amibroker software, available at http://www.amibroker.com
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30 comments:
Hi
Your blog is quite nice and informative.
As far as stock market is concerned. Trading in market requires
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If you get recommendations from some specialist then also you must keep in mind its your money you
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We suggest you one thing never ever work on any rumour because rumours are spread to meet personal goals.
Regards n love
ShareTipsInfo team
Hi Everyone,
This Blog is really nice and helpful. We hope our post will be useful for all visitors of this prestigious blog.
On 29th Feb 2008 budget was declared. It was expected to be in favor of middle class people . As in budget all loan of farmers were waived off, its a
Positive news for farmer which can give rise to agro based industries too.
Overall budget was good for everyone.
Now with time USA is coming out of the jinx of sub prime and recession and we have already witnessed some good movement in US market too. Recent fall in Indian stock market was due to Overbought Nifty, USA recession margin pressure and panic.
Now Nifty is in consolidation phase. Once consolidation is over we will see major rally in the stock market.
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Benchmarks were witnessing a lackluster session Friday due to lack of buying support from foreign institutional investors. Gains in metals, realty and pharmaceutical stocks were offset by losses in auto, PSU and banking stocks.
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Benchmarks were witnessing a lackluster session Friday due to lack of buying support from foreign institutional investors. Gains in metals, realty and pharmaceutical stocks were offset by losses in auto, PSU and banking stocks.
“The start is likely to be soft-to-cautious and the markets may remain range bound throughout the day, trading in absence of foreign fund managers. www.puntercalls.com
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regards:
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If you are trading in NSE, BSE, MCX and in NCDEX then let sharegyan give you all stock trading gyan
If you are trading in NSE, BSE, MCX and in NCDEX then let sharegyan give you all stock trading gyan
If you are trading in NSE, BSE, MCX and in NCDEX then let sharegyan give you all stock trading gyan
If you are trading in NSE, BSE, MCX and in NCDEX then let sharegyan give you all stock trading gyan
If you are trading in NSE, BSE, MCX and in NCDEX then let sharegyan give you all stock trading gyan
If you are trading in NSE, BSE, MCX and in NCDEX then let sharegyan give you all stock trading gyan
If you are trading in NSE, BSE, MCX and in NCDEX then let sharegyan give you all stock trading gyan
If you are trading in NSE, BSE, MCX and in NCDEX then let sharegyan give you all stock trading gyan
If you are trading in NSE, BSE, MCX and in NCDEX then let sharegyan give you all stock trading gyan
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In finance, technical analysis is security analysis discipline for forecasting the direction of prices through the study of past market data, primarily price and volume.Behavioral economics and quantitative analysis build on and incorporate many of the same tools of technical analysis which, being an aspect of active management, stands in contradiction to much of modern portfolio theory.
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In finance, technical analysis is security analysis discipline for forecasting the direction of prices through the study of past market data, primarily price and volume.Behavioral economics and quantitative analysis build on and incorporate many of the same tools of technical analysis which, being an aspect of active management, stands in contradiction to much of modern portfolio theory.
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In financial, specialized research is protection research self-discipline for predicting the route of prices through the research of past market information, mainly price and volume.
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