Stop wasting time. Scan!

How much time to do you spend every day looking for a trade setup?  If you have a good system, and you know your setups well, do you spend a long time looking through a dozen stocks or currency pairs, checking to see if your setup is there in each one? I'm getting more and more excited about the idea of scanning.  With scanning, you only need to program in your setup criteria, which financial instruments to scan, and let the scanner tell you which stocks, futures or currency pairs look like they're getting ready for your set up. The trick is, of course, to write the scanner, but that's what we're here for, right?  A scanner is a lot like writing an indicator for a trading platform, but instead of drawing it on the screen for one chart, the scanner checks multiple charts, and just...Read More

Trader Tech Talk 023: How Toni Turner Defied Her Broker and Learned to Trade

In this episode, we get to hear Toni Turner's story of learning to trade, despite odds stacked against her, and despite many cautions of trading being too risky.   Toni persevered, and has become a successful trader, author and educator! Toni is fun to talk to, has a delightful sense of humor, and a lot of wisdom and advice.   You'll learn from her: The four switchbacks, or stages a trader might go through What makes a good trader Why trading is more difficult than investing How she achieved the discipline, knowledge and experience needed to become a successful trader. Take a look at Toni's informative site here: [amazon template=thumbnail&chan=default&asin=1593376863]

Visual programming for Automated Trading Systems?

The EquaMetrics company has announced a new product called RIZM which is a "visual programming" platform for trading systems (or algos, as they are known). This looks really cool, but I am skeptical. The idea is that you can "visually design complex trading strategies without a single line of code" according to the product literature. We know how complex trading algorithms can be, and that a huge amount of testing and parameter tuning is required to make a system backtest well enough to trade with in a live account.  Can that be done without code? When Microsoft first released Visual Basic, there was a big concern among programmers that they (we) were becoming obsolete.  I mean, if anyone could create a program by moving blocks around on the screen, who needs programmers?  It...Read More