Chart Your Way to Profits: The Online Trader's Guide to Technical Analysis with ProphetCharts, Second Edition

Chapter 16. Power Features

Because it is a web-based product, ProphetCharts can be updated with new features automatically for all its users. It is therefore very much a living product and has a steady stream of new features being added to it.

A printed book, on the other hand, is a snapshot in time, and by the time you read this, ProphetCharts will surely be capable of doing some things not mentioned on these pages. However, since the first edition of Chart Your Way to Profits was published, some major new features have been introduced, and we can learn about them here. These include the ability to apply multiple labels to symbols, create customized ratio charts, observe four charts at a time in grid mode, and look at charts flipped upside down.

LABELS

As you know, watch lists are a crucial part of keeping your trading world organized. Built correctly, watch lists give you the opportunity to maximize the observations and opportunities you take from the market.

However, a list of symbols is a one-dimensional way of organizing things, because you are simply putting stocks (or other financial instruments) into folders (that is, watch lists) of a certain name. If you want to earmark symbols in a more meaningful way, you would formerly have to make a large number of watch lists, each of which had the very specific category or classification you sought. In addition, one particular symbol—GLD, for instance—might have to be put into multiple watch lists (such as "Precious Metals," "Commodities," ...