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Gold/Mining/Energy : Day trading in Canada
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To: quickcat who wrote (3796)2/12/2000 10:21:00 PM
From: keith massey  Read Replies (2) of 4467
 
But why do I need Metastock and how do you use it ? Is it just a sophisticated chart service or do they do the analysis??

You do all the analysis.

The current scanners on the internet are all very basic and really don't do a good job of find the right stocks. I personally find Metastock is best used for doing market scan.

Very basic example... you can tell Metastock to find all stock that are trading at their 100 day high with volume increasing for the past 4 days on the TSE between $2-3. You can then bring up the charts of all the stocks that meet the critera of the scan and quickly flip through them to find ones the "look right".

Of course you can do very complicated scans and also do things like backtest and write your own indicators. For only $500 it is well worth the price if you are an active trader and only use want end-of-day. For intra-day you will need to step up to something like Tradestation or Metastock day trader.

Best Regards
KEITH



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