David Waring

__________________
My Free Courses: Forex Course - Stock Course - Futures Course - Basics of Trading - Subprime Crisis - Prorealtime Charts

Disclaimer: Trading is risky and can result in substantial financial loss. As always my posts are simply one traders opinion and should not be taken as trading advice. I am not a financial adviser so everyone please do their own analysis and take responsibility for their own trades.

Fastrader

Excellent Video and Excellent Website. I admire your effort to show the newbies the ropes of this trading world. I do have a question and please do not perceive in offensive manner. I currently use TOS and i like their charts but i also think Pro Charts may even be better. Are you sponsored by pro charts or carry any affiliation? Also, i have seen you making videos on TOS. Are your opinion on Platforms and charts totally independent or do they carry any influence from these brokers? Thanks again for your work and help.

David Waring

Hi Fasttrader,

Glad to hear from you and thank you for the compliment I am glad you like the site.

One of the ways that I make money with InformedTrades is to form relationships with companies whose products I like and then recommend those products to the community. So yes I do get paid a small fee for anyone who signs up for the pay version of the Prorealtime package.

Currently I do not make any money for recommending ThinkorSwim however I am seeking to form a relationship with them where I do in the future.

As you can see I only recommend a few products, so the idea here is to recommend products that are really think are good, and not simply recommend anything that I can make money on.

Hope that helps.

Best Regards,
Dave

__________________
My Free Courses: Forex Course - Stock Course - Futures Course - Basics of Trading - Subprime Crisis - Prorealtime Charts

Disclaimer: Trading is risky and can result in substantial financial loss. As always my posts are simply one traders opinion and should not be taken as trading advice. I am not a financial adviser so everyone please do their own analysis and take responsibility for their own trades.

wchillman

Hi Dave,

Your site is, as others have said, a real asset to those of us who are just learning. As a relative newbie to trading, I think ProRealTime is an amazing product. At this point I have written elementary programming code for both their indicators and proscreener and probacktested some strategies. Their videos are quite helpful is finding out how to do this. Your idea of starting a forum that could address its potential would be very appreciated. I would be particularly interested in other's setups and how effective they are.

I have one question. I know there are many trading platforms out there. Do you know if any of them (Trade Station, for example) can offer anything important that ProRealTime can't.

Walt

David Waring

Hi Walt,

Glad to hear from you.

Tradestation is from my experience a much more powerful package than prorealtime for two reasons:

1. You can do a lot more with it in terms of programming strategies and the information that you have access to regarding backtests is enormous.

2. Once your strategy is developed you can have it automatically traded from the signals your system generates as in addition to being a charting provider Tradestation is also a broker.

The drawbacks are that if you focus on a particular market like forex for example then Tradestation is more expensive, unless you meet their minimum trading requirements for free access which are quite high if I remember correctly.

Secondly the additional power that is offered by the package comes at a steep price because, unlike prorealtime, you have to know their programming language in order to program strategies on their platform as there is no assisted creation (unless something has changed regarding this that I am not aware of).

In my opinion these two disadvantages offset the advantages of Tradestation which is why I recommend prorealtime.

From what I have seen Tradestation is the only package that I feel offers significant advantages over prorealtime for the true programmer.

Hope that helps.

Best Regards,
Dave

__________________
My Free Courses: Forex Course - Stock Course - Futures Course - Basics of Trading - Subprime Crisis - Prorealtime Charts

Disclaimer: Trading is risky and can result in substantial financial loss. As always my posts are simply one traders opinion and should not be taken as trading advice. I am not a financial adviser so everyone please do their own analysis and take responsibility for their own trades.

peertrade

Dave,

Can we plot Fibonacci in Pro-realtime.Please let me know?

Could you please let me know what symbols to use to pull data for

1) Dow Jones

2) Nasdaq

3) Rusell 2000

4) Gold

5) Silver

6) Copper

7) Oil

8) Dollar

on Prorealtime

Thanks
Peer

David Waring

Hey Peer,

Glad to hear from you and my apologies for the delay in reply.

Yes you can plot Fibs using Prorealtime. If you maximize the chart in the upper right hand corner there are a bunch of drawing tools including Fibonacci.

When you bring up the prorealtime charts you should see a window that says "lists" at the top. Rather than having to memorize a bunch of symbols I prefer to simply select the instruments that I would like to trade from the list. At the top of the window there is a dropdown menu that allows you to select the exchange that you would like do display and I have listed the dropdown selection where you will find each of the instruments below:

1) Dow Jones

World Indicies

2) Nasdaq

World Indicies

3) Rusell 2000

World Indicies

4) Gold

CBOT Futures

5) Silver

CBOT Futures

6) Copper

Don't have it. I track copper using the ETF symbol COPA

7) Oil

Futures NYMEX

8) Dollar

Don't have the dollar index so I track using the ETF UUP.


Hope that helps.

Best Regards,
Dave

__________________
My Free Courses: Forex Course - Stock Course - Futures Course - Basics of Trading - Subprime Crisis - Prorealtime Charts

Disclaimer: Trading is risky and can result in substantial financial loss. As always my posts are simply one traders opinion and should not be taken as trading advice. I am not a financial adviser so everyone please do their own analysis and take responsibility for their own trades.

joejoe

David Waring Just the Trader I wanted to talk to! I checked out pro real time and recomended the sevice to One of My students. He trades equitys and futures with a current 3m. subscription I read in your post (So yes I do get paid a small fee for anyone who signs up for the pay version of the Prorealtime package.)
If that is so Please send me a note and I can supply all Information of the user For your credit!! also Im having alittle trouble with the symbol for the $VIX on this platform If you can help with that. Good trading to you!!

wchillman

Hi Dave,

I should say at the outset that I think ProReal Time (PRT) is pretty cool piece of software and I’ve learned quite a bit from it. However, I noticed a problem many months ago and assumed it was just my inability to program or maybe a fluke that would solve itself given some time away from PRT. Well, I back using it and still notice the problem. Here’s the simple code I used for proscreener to find NYSE stocks with a 2 point increase in ADX over the previous day…

i1 = ADX[14]
c1 = i1 > i1[1] + 2
SCREENER[c1] ((close/DClose(1)-1)*100 AS "% Chg yesterday")

The problem with this code is that it also returns stocks with decreasing ADX’s. I contacted PRT about this and they sent me this code…

myADX=ADX[14]
pips=2
c1 = myADX > MYADX[1]+pips
screener[c1]((close/DClose(1)-1)*100 as "my" )

However, I think this code is equivalent to mine as it returns exactly the same results. I have found that of the 30 stocks that this code displays, about 5 or so of them have decreasing ADX’s. I must have overlooked something. Any help on your end would be appreciated.

Walt