MCI Star Trader stock question

[Kenazo]

What the heck is this?
here

my mom gave me a call and wanted me to tell her what I think. As far as I can gather, it looks like a "technical" stock trading software package that uses closing prices to determin trends, and then trades based on those. Anyone have any experience with such a package?

 

[Hector13]

it looks like you are right ... this is some sort of technical analysis trading system.

Personally, I would tell your mom to stear clear and stick with some good old index funds.

 

[Kenazo]

Anyone else know anything about them? My parent's sound pretty serious about them. I want to smack them upside the head.

 

[djNickb]

Many successful traders have been quoted to say "the trend is your friend"

 

[Kenazo]

friendly enough to pay $7000 for a stock picking program? For that kind of money, I think they'd be best off using a full service Broker that also advises.

 

[zillafurby]

look they are nothing. anyone who can clear a profit starts a hedge fund and makes +$100m.

Richard Dennis make over $200m using the 'turtle' system of trend trading. The rules he actually used are featured here:

Turtles

and currently used in a modified form by a multitude of CTA funds.

 

[zillafurby]

try zacks

 

[slydecix]

If you don't take the time to actually learn how technical analysis works, a software package that does it for you won't be any help, imo.

It's like following the advice of a movie critic to go see a movie even though you have no idea how the critic determines whether a movie is good or not.