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Registered User
Joined: 5/28/2005
Posts: 13
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I posted this in another area but hopefully I'll get a greater response here...I recently signed up for a trial subscription for Telechart 2005. I dabbled a bit with Telechart over the past few days and am trying to determine if it is worth keeping/using. I currently use (Removed by Moderator) among other things for the technical and fundamental aspects of stock selection. Can anyone here give me their insight as to why Telechart is their "tool" of choice? Why is it "better" than others?
Thanks !
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Registered User
Joined: 12/19/2004
Posts: 457
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It is the only charting sotfware I've used, but here is why I like it.
1. It is cheap compared to other services.
2. Great screening, sorting, and organizing capabilities
3. The ability to attach notes to a chart. It makes it easier to see how your pics worked out. It is all to easy to delude yourself when looking back at charts. Posting a note in real time is more objective when reviewing results.
4. Now, you have the ability to create custom indicators. This is a HUGE advantage TC2005 has over other, web-based services, such as prophet. You have more ability to personalize TC2005 to your own style. Other services give you standard indicators, with little ability to manipulate the underlying data.
5. Very reliable data. I recall reading in a book (Advanced option pricing models) that they used Worden data for some of their research. They were suprised at the accuracy of the data, and had to do practically no adjustments.
TC2005 is a good value, compared to other technical software, in my opinion.
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Registered User
Joined: 5/28/2005
Posts: 13
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Thanks rmr1976 for your input - it is greatly appreciated ! Another valuable feature appears to be the discussion community!
I will "dabble" a bit more with Telechart...
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Don't forget to watch some of the training videos while you're dabbling. The ones that cover basic system capabilities and features can be found on the training tab of this website. Many others can be found in the Product Help/Tutorial Videos forum.
- Doug
Teaching Online!
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Registered User
Joined: 5/28/2005
Posts: 13
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Thanks Doug - I was actually just checking those out.
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Registered User
Joined: 12/2/2004
Posts: 1,775
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Hi jfoster
rmr makes good points on pros of Telechart. To me one huge plus of Telechart is the fact that the whole damn program (and stock market!) is permanently on your hard drive. You can pull up in less than a second any chart of any stock on any day going back several years...and do it off line if you wish. And that's just a start. I got my initial favorable impression of Telechart when almost every pro trader I emailed about the scan software they used replied with Telechart. More well known ones are Jim DePorre, Alan Farley, and Gary Smith of (Removed by Moderator). FWIW, and good luck with your trading.
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Registered User
Joined: 5/28/2005
Posts: 13
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Thank you fpetry for your comments !
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Telechart offers the best scanning and sorting capabilities in the universe of applications to deal with stock market data.
It is reliable, and fast, not to mention the flexibility of building your custom sorts and scans.
The technical side of the program is not bad either. I have been using Telechart since about 1998 when I started trading, and I am still a user. It is priced rigth, and they are constantly updating the features. You can look around all you want, if you are in the market to stay, you will need Telechart.
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Registered User
Joined: 5/28/2005
Posts: 13
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thank you BigBlock for your insight...I've dinked around with it a little more last night - I need to get use to it I guess.
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