MultiCharts Discretionary Trader

MultiCharts was previously available for free, the catch is that trades could only be placed manually, no automation.  It did however allow for chart trading, and it did a pretty good job at it.  

You could place orders by clicking on the chart, with multiple targets.  You could attach strategies such as breakouts or limit orders and as bracket orders as well.  I didn't like the fat that it waited until the order was filled before it placed stops and targets (bracket).

The software has the ability to connect to a bunch of brokers as well, for order placement.

If your looking for this trading platform, you can probably find the torrent for it.  I am fairly certain it still works as a free version to connect to a pile of brokers, but I'm not sure how buggy it is.

I wrote a post a while back on this platform, that it was GONZO.  They took the free version off the web site.  The paid platform looks very kick-ass if your a full time trader.  

If you want to read more about it here is the MultiCharts web page, click on the "Compare editions" on the left side.  Also, mouse over the "MultiCharts" on the top to see a huge menu to learn more about this package.  I don't use it but if I was a full time trader I would seriously consider it.

Chat Room

I get email from time to time and have found it frustrating and difficult to solve a problem or have a healthy discussion via email. I've added a link to a chat room where we can have a discussion. If you want to chat about whatever, put a comment up on one of the posts and suggest a time. I'd like to chat about using Bracket Trader, or the advantages of using MetaTrader over Amibroker with IB (I know there are issues with that set up)

Look at the side bar on the right there is a title "Forex Hit List". I've added a link to a chat room.

Questrade

I just opened an account at Questrade. The experience was painless and prompt. I noticed one thing very quickly about their platform, that I usually research before hand.... not this time!! Where are the stops? I can't set a bracket order!!

Apparently the TSX doesn't allow stops unless they are stop limit orders. Questrade has something called VTSO, not exactly sure how it works yet. I do know that without stops, trading is riskier. IB offers stops on the TSX, probably simulated in their system. I'll have to do more research. Feel free to offer what you know if you're reading this.

The World keeps me away

Over the past few years I have travelled to remote places within Canada and some foreign countries, a mixture of exotic and warm, rich and populated, and to various third world nations. The last place I happened to be was Panama.

Quick summary of the "look and feel" of Panama City: Poor nation trying to develop, US money is pouring in, the rich areas have a high Jewish population, perhaps baby boomers are looking to retire, I hear the weather is a allot like Miami the whole year around. It was too humid for me.

A few months ago I watched a documentary on the Panama canal. It was very interesting, and there is much more to the story than just a canal. Being from Ontario, Canada, locks don't thrill me much, we have tons of them. While in Panama I did go see the canal, but more to see the size of the ships and the little tugs on rails along the side of the canal that pull the boats along, making sure they don't hit the side. The boats actually use their own engines, and are captained by a guy that works for the canal.

There have been allot of new condos and office towers built over the past 5 years. There are even more under construction right now. "The Donald", Trump that is, is putting up a sixty something tower. Here a a few shots of Panama.

Why am am telling the Internet about this trip? Because I haven't had allot of time to work on my system or study FOREX in any great detail. I actually forgot why I did some of the stuff in the code. Travelling takes it toll. This is all I have to offer, and I thought it was interesting.

The Word has departed

Pierre "The Word" has moved.

As you have noticed, I haven't been posting all that much lately. I haven't even been reading the other blogs that I frequent. Just got married, not to mention a bunch of other things that seem to consume me for a while.

I want to thank Pierre for the effort he put into this blog, especially since I just had it up and running for a few weeks, he helped me get it rolling. It served as a good stepping stone for him to start his own operation. The more Canadian content out there in hyperspace, the better for us small people working the markets north of the border.

Pierre's blog is called "Canadian Point and Figure".

I encourage everyone to read it, he has been around the markets for a long long time, and offers great insight.

I have a question for Pierre, and a request. Perhaps he can celebrate the recent Lonnie action by posting a daily point and figure chart of the USDCAD and give us some comments.

Bye Bye Chat

The chat window has been removed.

Chat

We have added a chat window on the left side of the blog. We welcome any suggestions for blog topics, or reviews of stocks, or sectors. I know "The Word" would like to have reader comments on his take of the market, or rather, what he "sees" in the charts.

If you have any experience or questions on trading systems, this is a great to place to discuss, much easier than opening comment windows.

I have seen some blogs with chats for day traders, to pass along stocks that are setting up or have begun a move. We welcome day traders to post through out the day.

News - The Word

A new contributor is on his way. Once we work out some details, "The Word" will be posting on TSXTrends blog. The only thing I can tell you right now is that he has long term induustry experience and is eager to share his experience.

I'm trying to create a blog that traders can come to and contribute without all the sign up, advertising, and crap that seems to be present in most web sites out there (except blogs). To me, it appears that Canadians are more greedy than Americans when it comes to "free" websites and data access. I use the word "greedy" because everything was free at one time, on the net. I was cruising the interent at a time when the typical internet access was to phone the local library to get an interent connection, or "freenet" as it was called. It sucked. Remeber Win 3.1?

Are there any readers that are daytraders on the TSX (or other CDN markets)? If so, spit me a comment. Would anyone find a chat window on this blog of any use?

UPDATE: "The Word"may be posting "Point and Figure"charts, among other traditional types of technical analysis. In addition, we may be reading something on Income trusts in the future.