Ask Colin

I have heard that Insight Trader charting software is not very user friendly and takes a while to learn. Should I consider it or look for something else?

Learning Insight Trader is no different to any other software. Learning a new piece of software is like learning a new language. It takes time and effort. You need to assess whether your priorities in life allow you the time and effort necessary. The comments about Insight Trader being hard to learn are in my opinion unfounded. Yes there are some things that are not standard for Windows. However, there are good reasons for them to do with the functionality of the software application. Things like minimising the need to fill out endless dialog boxes which drives most people crazy in some Windows applications.

 

If you decide to go ahead with Insight Trader, I suggest you do this:

  • Buy the software.
  • Buy the series of CD-ROM videos from Insight Trader that will teach you how to use the software 
  • Devote some weeks or months to studying them and embedding the information into your investment plan.
  • Use the Help Line at Vestdata if there are things you want to do that are not covered in the manual that comes with the software or on the CD-ROMs (fairly unlikely)

That should do the job assuming that you already know how to invest successfully. If not, then you have some 5 to 10 years of further study ahead of you to learn a new profession and gain experience and hone your new skills. You might find my website helpful in that regard www.bwts.com.au. If this is the case, you really ought to learn technical analysis and investing before you worry about the software. You will need the software when you start developing your investment plan and begin investing.

 

As far as other software alternatives are concerned, if it is charting software, rather than a trading system (see my web site articles page for definitions) it will take you the same time to learn as Insight Trader or any other charting software. If you are looking for something that is simple and easy, it will be a toy like the Internet based charting facilities that most people tire of quite quickly and end up buying charting software or drift away from direct investing because the time requirement is too onerous.

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