You may ask, what is an autotrader? In today’s online advance markets abundant of the trading is done via computers. For the alone broker an autotrader is annihilation added than an appliance that is accomplishing your advance for you based aloft called belief (strategies).
In a antecedent article, “Online Trading — What is Wizetrade”, I mentioned that Wizetrade has two autotraders. This commodity is a top overview of these two. CommandTrade is the autotrader for stocks and CommandTrade FX is for forex and both are comprised of a set of appearance advised to acquiesce the user to clothier the strategies just about any way they wish to.
Common To Both
These are abstracted applications but accept the aforementioned overview screen, with tabs for aback testing, managing your trades and admission to a web community. Here you aswell accept admission to baskets (predefined set of stocks or currencies pairs) and an breach manager. (The breach administrator defines the time anatomy that a blueprint will be apparent in.) Each banal or brace has 8 intervals and beat on that breach will present a blueprint in that time frame. Each breach is alone configured and can be set from 1 minute to Long Term (months).
When ambience up a trade, you ascertain what action to use. There are predefined strategies from the bell-ringer to get you started, association based strategies from added users, and your own strategies that you accept created. A action is fabricated up of a set of rules and there is a aphorism architect to body the alone rules. The aphorism architect includes just about every believable basal to acquiesce you to body actual circuitous rules.
When testing your strategies, there is a aback analysis bore that will acquiesce you to analysis backwards appliance 2+ weeks of data. While accomplishing this you can about-face off and on alone rules aural your action to see how the all-embracing action is affected.
Both accept a congenital in audience accounts for testing purposes. Each has aswell has an interface to MB Trading and optionsXpress for reside trading. Both brokers are interfaced for stocks and MB Trading is interface for currencies. There are a brace altered places area you can baddest either the audience or reside interface. When live, the backgrounds about-face red.
This appliance contains a seek engine for stocks affair a specific set of parameters. The seek bureaucracy is one of the easiest I accept anytime formed with. When you bang on Command Search, you are presented with a popup with a alternation of analysis boxes for:
o assorted breach selections
o bazaar aggregate selections
o amount aural % of 240 day top and low
o amount aural % of 60 day top and low
o new 240 day top and low,
o new 60 day top and low,
o aloft 50 day EMA top and low
o beneath 50 day EMA top and low
o aloft 200 day EMA top and low
o beneath 200 day top and low
The allotment boxes aswell accept a ample in box for you to access your adapted percentage. And after there is basal advice ample in boxes for:
o 5 day boilerplate trading range
o 10 day boilerplate trading range
o % accretion for the day
The autotrader for forex has 27 brace of currencies that you can baddest from, all the majors and a acceptable set of exotics. There are predefined strategies for both yen and non-yen brace and the aphorism architect has all the apparatus to abutment currencies.
I accept as we go through time, autotraders are traveling to yield over how we accomplish our trades. Right now, we are still in its adolescence date but added and added of these types of traders are advancing on the market. Some avowal actual top trading results. I would be agnostic until absolutely activated in your own environment. I alone accept had acceptable and abrogating after-effects with the Wizetrade autotraders. The trading in the markets today has become actual aqueous and changes from day to day and at times actual difficult to predict. You charge the adeptness to bound change with them. These applications from Wizetrade with their adaptability can do this and I will abide to analysis and use them. I consistently accept both up and running.