So, I finally got around to installing the newer version (v.11) of the financial charting sofware MetaStock a few weeks ago.It is a great piece of sofware, I’ve been using it since year 2007, however back then I was doing swing trading which was much shorter term and using daily charts to find opportunities to buy and sell stocks which took days or weeks.
From 2009 onwards I have changed by trading style though. Unlike, in 2007 when I was swing trading full-time, now my timeframe has changed from days, weeks to more like months and years. I am doing less trades now and using the weekly charts instead of daily to determine market tops and bottoms. As well now instead of trading stocks, I have shifted focus to stock market indices like Toronto Stock Exchange, Nasdaq and Shanghai exchange using ETFs (Exchange Traded Funds).
I have also recently set up all my favorite indicators in MetaStock 11 like moving averages, upward momentum , sideways market indicator and downward momentum indicators. The upward, sideways and downward indicators are not part of the software, I used a formula to have the charts show this and I am currently testing to see if the timing is accurate.
As I have mentioned in my previous post/articles I have been monitoring the Nasdaq charts closely to see when a breakdown will happen and it looks like that may be coming soon. Look at the chart picture associated with this article…I maintain my short position on the Nasdaq.
by Das Brain
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