Maverick

I use AmiBroker for charting, scanning, backtesting, and automated trading. I use other software also but AmiBroker is my favorite. I really like being able to backtest new trading ideas, making my own custom indicators and applying the winners to a trading system or automating them.

If you have trading rules then they can be backtested and then paper traded for the proof is in the pudding. I always backtest my ideas and if they are profitable, I paper trade next. Doing so has been very profitable for me. If you don't have certain rules for entry and exit but instead trade on the cuff or use your emotions then you must be lucky or you are doomed to lose.

I don't use TS but I do use Amibroker's Auto Trading Interfaced to IB and here is why I like Automated trading. More fun. It is mesmerizing and great fun to see your orders being placed, modified and filled faster than any human trader could ever do and do so without lifting a finger. Less stress. Not having to punch in all those orders makes trading a fun activity. More efficient. Whether you trade Intraday or EOD manually placing complex orders can be time-consuming. Using the IBc you can automate all order placements and perform them perfectly in a fraction of the time it would take you to do it manually. More flexibility. You can make up your own order types that react instantly to price changes in real time. Less emotional. We all know that emotional trading can kill even the best mechanical system. Your Automated system will follow your trading rules flawlessly and never ever second-guess signals. More responsive. If a price changes your prices can be recalculated, orders placed, and perhaps even executed, before you can even move your fingers to the keyboard. More accurate. No entry errors, ever. Trading Niche. While popularity of automated trading is rising fast it is still mostly practiced by a small percentage of elite and knowledgeable traders. I believe that in High-Frequency Automated-Trading there will be less competition than in other trading areas. The price excursions and volumes are just too small for fund traders but are a perfect niche for the small trader. More profitable. If you are trading a profitable mechanical system now adding automation to it will almost certainly increase your profits.

Nice spreadsheet Soul. On your weekly pivots do you use the last week (M-F) or the last 5 trading days and on your monthly pivots do you use the complete last month or the last 30 days?

I completely agree with K.I.S.S. I have studied almost every indicator and have come to the conclusion that the best system is watching and understanding how price behaves with just a few support, resistance, and trend lines. After observing price failing to make a new high in an uptrend or failing to make a new low in a downtrend, I can watch for pullbacks or retracements and trade accordingly. I can see the market much better than using a bunch of lagging indicators.

I have read several articles about people trying to catch a falling knife. One called it lizard brain because it is people’s nature to buy at the best possible price. But if you stop and think about it, why would you want to buy a stock that is falling in price? Wouldn’t you rather buy a stock that is going up in price? Unless you are trying to give your money away, which way do you think has the best chance of making you money?

I have traded both futures and stocks for several years and my track record is much better in stocks. Maybe the difference is I swing trade stocks but trade futures on a one minute chart. Swing trading must agree with me.