Trading Without Some Computer Tools Is Like Flying Blind
Monday, 6. July 2009
|
Traders - Do You Really Want To Learn How To Trade, Stocks, Futures or Forex Using Momentum As A leading Indicator? Click Here To Learn From A Master Trader Free 5 Day Video Trading Course Free Proven Money Making Trade Setup Over 90 Minutes of Expert Trading Education Free |
More than ever before, computer trading is taking over the markets.There are computer programs to execute orders, scalp and arbitrage 1000s of times a day, and even programs and tools designed to exploit the weaknesses of other tools that are in the market. There are hundreds of companies that have created sophisticated charting packages to help day traders find ideas, including day trading robots. All of this points to the same thing: computers are here to stay, its up to you as a day trader to figure out how to get the best tools to find ideas to make money.
This does not mean throw thousands of dollars at every "hot" product - this usually does nothing to generate anything useful.Additionally, each day trader can only focus on so many things at the same time, you do not need overload as that can actually backfire and make it far worse. Some people like to use a day trading robot to help, others like to put together a set of indicators with some basic useage rules and that works for them.You need to establish a decent regimen for finding ideas that is followed the same way each time so that ideas are considtent.Those will never be consistent or valuable in the long run because of the sporadic nature of how they are created.
When it comes to computer tools to help you, there is an additional thing to consider: you can get a program that allows you to custom write your own rules and indicators and then apply them in real time.This is a good options if you are a more experienced trader and have the programming knowledge (or want to learn) to get the job done. This can be very very time consuming, and often you can spend hours or days of work only to discover that the theory you are testing is not valid and all the work is wasted. In fact, if you go down this path, this will happen quite often but is part of the learning and development process. Some day traders who go down this path will do part of it themselves, then get an outside person to help them finish some difficult parts. Indicators are quite simple as far as complexity, and then you have the other end of the spectrum which is a day trading robot which usually is quite complex because of all the parts that go into creating such a tool, so plan your time accordingly.
