Most traders rely totally on their computers to deal with and classify huge quantities of information. Trading has been made much easier since the arrival of computers, but there are a few traders who feel that in some areas computers aren’t as good as humans. For them, the best approach for trading using Trade stop is to unite the strong points of the human mind and the computer’s unemotional examination of the market. Known as computer assisted trading, it is perhaps one of the most powerful methods of doing business.
It is true to say that a computer will use the exact logic of its trading strategy programme, but it hasn’t got the sophistication of the human brain. A trader can read a chart and take into account all the variants in a few seconds, but a computer cannot do this. So the best tool for making entry decisions is the trader himself.
however, risking real money on the market often has a profound effect on the human psyche and it can be difficult to choose the best course of action to take. The TradeStation trend system has three indicators that are simple to use and that can dependably guide a trader to the best deals on the market.
Another plus is that the computer will sift by huge amounts of data to find possible entries, consequently saving the trader a lot of time and increasing his profit margin. There are two ways to use the TradeStation indicators to find possible trades: The Radar Screen tool can check an complete list of signs in seconds; it can either be displayed on the screen or it can send the trader alerts whenever good trade prospects come up.
The second method is to use Trade stop indicators directly on the trading charts. When good trading opportunities arise it can either give the trader an audio or a visual alert. Using the indicators and Radar Screen together take a lot of effort out of finding good trades and all the trader has to do is to analyse them and pick the best ones.
A trader who uses Radar Screen and Trade stop indicators in his computer assisted trading has a powerful tool at his fingertips. Once he has chosen the trades he makes his entries and either uses a fully automatic exit strategy or a chart-based trading tool strategy to take care of exit management.
Using Trade stop indicators and Radar Screen for computer assisted trading is the best approach to ensure success. The computer finds possible trades in an unemotional way and handles the trade exits, while the trader makes the trading entries – a harmonious blend of the human brain and modern technology leading towards a profitable goal.
The biggest advantage to using TradeStation is that it sustain automated trading. Traders can use EasyLanguage programming to build a custom strategy from scratch.