Stocks & Commodities V. 32:1 (52-54): Product review: Prime Trade Select by Technical Analysis Inc.

Stocks & Commodities V. 32:1 (52-54): Product review: Prime Trade Select by Technical Analysis Inc.
Item# V32C01_700PRPR
$2.95
Availability: In Stock

Product Description

Product review: Prime Trade Select by Technical Analysis Inc.

MetaStock

90 South 400 West, Suite 620, Salt Lake City, UT 84101

Phone: sales 800 508-9180; support 801 265-9998

Email: Sales@metastock.com, support@metastock.com

Website: MetaStock.com

System requirements: Windows 7 (Service Pack 1), Windows Vista (SP 1), Windows XP (SP 3 or higher) Professional edition; Intel Core 2 Duo 2.4 GHz or higher processor; 2 GB RAM (4 GB recommended); 750 MB hard available hard disk space; 256 KB upload and download Internet connection

Product: MetaStock add-on to help identify trading candidates Price: $499 ($399 with some promotions)

Prime Trade Select (PTS) is an add-on for version 12 of MetaStock that identifies high-probability trades. Its objective is to give you a list of stocks and/or ETFs to buy or short. The exit and stop-loss strategies might keep you in a stock for several weeks or just a day or two. The developer of PTS, Chuck Hughes, has had over 25 years of experience trading stocks, commodities, currencies, and options. Hughes is known for his trendfollowing and option-trading strategies. Hughes is also the author and/or coauthor of several books, including The Weekly Options Advantage: Your Secret For Simple High-Profit Trades and Global Trend Power System.

Overview

The add-on comes with two explorations, indicators to show where exits and stop-losses are recommended, two templates, and two experts. The system first identifies stocks or exchange traded funds (ETFs) in an uptrend based on the 50-day exponential moving average (EMA) being greater than the 100-day EMA, or a downtrend based on the 50- day EMA being less than the 100-day EMA. To confirm the trend, two events should have occurred: for long positions, the current 14-period on-balance volume (OBV) needs to be greater than the same OBV six months ago, and the stock/ETF must have made a 52-week high within the last six months. The converse would apply for short positions.

When these conditions are satisfied, it becomes a matter of entering your positions. For a long entry, you could use Keltner channels, which are created by using a 20-day EMA for the middle line and two average true range (ATR) values above and below the middle line for the upper & lower channel lines. Itís the use of the Keltner channels that provides two different approaches within PTS ó basic and high probability. If you use the basic approach, PTS price can close either on or below the middle of the channel, but if you are using the high-probability PTS, the close must be below the lower channel line. Another difference that exists between the two approaches is that for high-probability PTS, the 52-week high is within the last eight weeks, whereas for basic PTS, itís within the last four weeks.




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