Esteban; RE:" Chart Generators / MetaStock "
yeah man, I like the MetaStock program, Esteban - though I wish it had more drawing capabilities (thing doesn't even have an eraser) it is clearly intended for people to automatiacally generate trends and stuff, rather than draw them (as I do). I really like the fibonacci retracements and the moving average features, Esteban.
MetaStock needs more graphics drawing and processing features; the on-line updater seems kinda archaic (you want to just replace this with a WWWeb based chart generator) and the number-crunching doesn't hold a candle {grin} to the professional econometric packages I run on mainframes, but then - I'm spoiled !
geocities.com
What it has done, Esteban, is forced me to define all the support levels on my charts, and in that regard, it has already made me $$$.
Because it "remembers" the lines I draw, after I run the downloader, and update all the charts, whether a line works or doesn't work is very clear. This side effect / feedback is quite powerful, and unexpected - and has improved my T/A discipline.
I got a copy of Morris' CandlePower from the UK (it appears to be identical, albeit original title of the book Rainier recommends). This book is quite different from Nison's two books, both of which I have in my library - and I think this is a really great addition to Nison's work. Morris is more into patterns and more rigorous in his presentation than Nison.
Still, for a candle newbie, I would recommend Nison's Japanese Candlestick Charting Techniques first; then Morris' book, and then Nison's Beyond Candlesticks for intro to more exotic Japanese techniques, like the 3-line break chart you referred me to.
Thanks for the reference, amigo mio.
-Steve |
