Update: New Computer Investing Products
by CI Staff
MetaStock Pro FX
MetaStock Pro FX, Equis International’s newest addition to its trading platform software, is a real-time version of MetaStock created for the foreign exchange market (FOREX). Equis International interviewed active FOREX traders to find out which tools and functions they used and wanted most in a trading program.
Pro FX has the ability to test multiple trading systems and issue buy and sell signals based on these systems. Users can create their own systems and indicators by choosing from a wide array of math and investing functions, or they can utilize the pre-built trading systems included with the software. The program also scans currency pairs to find trading opportunities.
Flexible currency charts allow for the use of different charting techniques and time periods, some as short as five minutes. All charts can be saved for later use.
The built-in trading systems offer a template that is divided into five charts: daily, 60 minutes, 30 minutes, 15 minutes and five minutes. This gives traders the ability to compare and evaluate the systems over periods of different lengths to determine if there are viable investment opportunities.
Some of the more popular systems include the FX Keltner Systems and the FX Pattern System. The Keltner System 1 looks for specific patterns occurring infrequently, which, some believe, tend to be followed by sharp movement. The Keltner System 2 looks for more frequent patterns. The Pattern System combines Bollinger bands, standard error bands and the stochastic oscillator to give buy and sell signals.
Traders can get advice on specific trades, receive help in identifying trends and interpreting candlestick patterns, and set alerts. Registered members of MetaStock can receive free technical support via E-mail, phone or on-line chat.
CyberTrader users can now backtest strategies with the new Strategy Center. The program gives you a list of strategies to choose from as well as the option to create your own. Some of the strategies include simple moving averages, Bollinger bands and exponential moving averages. A brief description of each pre-programmed strategy is given to help investors identify the most appropriate strategy choice for their investing needs.
After a strategy has been selected, backtesting is as simple as loading the specific security symbols, choosing the time length (five, 10, 15, 30, or 60 minutes or daily) and selecting “back test” from the menu. The program has over 10,000 symbols to choose from; you can also import a list.
The results are displayed in a spreadsheet that lists the security symbol and the results of the various strategies you have chosen to backtest. Results can also be displayed in a bar or line chart.
The Strategy Ticker, also an addition to the Strategy Center, scans the market in real-time to find securities that meet criteria for specific strategies. Stocks can be filtered by exchange, price range and volume.
The Strategy Matrix allows for an individual stock or index to be analyzed using different strategies. The results are displayed in a spreadsheet that lists the performance with multiple strategies and in varying timeframes. CyberTrader offers a free simulated version of Strategy Center for download on the Web site.
Trans Global Forex
A free technical analysis program for currency traders is now available on Trans Global Forex. Traders can assess the results of multiple trading systems with interactive graphs that are automatically updated. Four algorithms are built in: single moving average, moving average crossover, triple moving average, and high-low channel. Recent data from eight currency pairs is used to keep numbers up to date.
ADVFN offers a new interactive stock screening program called FilterX. Investors can search, sort, rank and extract information on internationally listed stocks. Over 400 criteria can be combined, including data from balance sheets, income and cash flow statements as well as financial ratios. Parameters can be identified for each criterion to further narrow the results by clicking on any of the numbers on the table for the specific criteria. Results can be ranked by clicking the criteria label. FilterX is free.
E*Trade offers customers on-line brokerage accounts, checking and savings accounts, and credit cards. Until recently, users managing multiple E*Trade accounts had to go to a different Web site for each account type. E*Trade Complete allows access to all accounts on one Web page. The Cash Optimizer, a new addition, enables customers to calculate how much extra money they could earn by putting cash reserves into different accounts with higher interest rates.
ValuEngine has eliminated its free Web service and is now a subscription-only Web site. Subscriptions cost $24.95 per month. A two-week trial is available. Upgrades include portfolio creation, stock and portfolio optimization and tracking, personal support via an E-mail hotline, delayed quotes, and screening tools.
Tradingpatterns.com has released Automatic Pattern Search (APS) version 4.8. The software program finds price patterns that meet user-defined performance statistics and risk/reward parameters by searching historical data. Users can develop trading systems for stocks, futures and FOREX (the foreign exchange market). The newest version offers an automatic code generation for the patterns that are discovered which can be used with Wealth-Lab, TeleChart, TradeStation and MetaStock. Download a free demo on the Web site.
InvestmentWizard.com offers free on-line coverage of Jim Cramer’s Mad Money recommendations. The site tracks the performance of every recommendation Cramer makes on his CNBC television show. Investors can look up what Cramer previously said about a stock on the show to see how accurate his prior predictions were. To search Cramer’s recommendations, click on “Top Analysts” in the left-hand menu on the home page.