Even if you do not wish to use the software itself, which is $299 but has a 14 day trial you can still learn a great deal or come up with some new ideas on how to better your own trading.
Really it all comes down to money management and risk management. These two things are what separate the men from the boys. Boys play with their...indicators, men know how to use them and realize it's not the indicator that counts but the technique, style, staying power, etc.
I wanted to post this not because I recommend the software but because I recommend the principals.
Here is a short list of key features, again from the website.
- Automatic Trade Sizing how many shares to BUY or Short Sell for each trade
- Stop Placement calculated Stop Loss and Trailing / Profit Stop exit price
- Integrates with your MetaStock database for automatic daily updates
- Share Trading Journal kept for each trade
- Share Price History saved for all trade entries
- Long and Short trades allowed for with individual performance reporting
- Technical Stop entry is optional and can be used in place ofthe automatic Trailing Stop
- Maximum % Risk takes brokerage both ways into account
- Limits over trading and too many Open Trades
- Multiple portfolios and currency symbols for trading and back testing
- Power Pivot Points automatically calculated daily, for short term trends and trend bias
- Portfolio Average $Win and $Loss calculated after each trade
- Portfolio %Win and %Loss Ratio calculated after each trade
- Show summary of all Open and Closed Positions very easily
- Show Cumulative Profit/Loss andavailable Cash
- Average trading period for portfolio and trading days of each trade
- Average $Rate of Return - Trade Expectancy
- Total Brokerage charges of all closed positions
- Stock Split adjustment is a simple process on all open positions
- Portfolio Performance accurate and thorough automatically calculated
Now included with kind permission from The Van Tharp Institute (IITM)
- System Quality Number (SM) automatically calculated (ideal back-testing tool)
- R Multiple reward to risk ratio automatically calculated for each closed trade
- R Expectancy ratio automatically calculated
- Sector Analysis Monitoring and Control
"Let us be thankful for the fools. But for them the rest of us could not succeed." - Mark Twain
Last edited by caprica; July 27th, 2009 at 09:29 AM.
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