After going through this step-by-step tutorial, y
ou should have a fully operational and fully automatic trading system.
As you continue working with your system, keep in mind the following:
- Always backtest until your system performs well with past data, then paper trade to make sure your system performs well with current data.
- The market has two phases - trending and ranging - and very few trading systems handle both perfectly. Be sure to only trade in a market that your system can beat.
- Make changes one at a time so that you can pinpoint which aspects are improving your returns and which are hurting them.
- Keep it simple. Extremely complex trading systems are often fitted to work well with past data, but are incapable of adapting to new market conditions.
- Make sure that you know the strategy behind your trading system. As absurd as it sounds, many people develop their systems until they become so complex that they forget the underlying strategy.
- Don't over-optimize. Optimizing too much can lead to what is known as curve-fitting, which can reduce your trading system's effectiveness and ability to adapt.
Here are some trading applications worth checking out:
MetaTrader - http://www.metaquotes.net/
TradeStation - http://www.tradestation.com/
Tradecision - http://www.tradecision.com/
MetaStock - http://www.metastock.com/
AmiBroker - http://www.amibroker.com/
WealthLab - http://www.wealth-lab.com/
Comprehensive List - http://traderslaboratory.com/
Here are some community resources that can assist you:
TradersLaboratory - http://www.traderslaboratory.com/
Moneytec - http://www.moneytec.com/
StrategyBuilderFX - http://www.strategybuilderfx.com/
TradingAutomate your trades by translating your strategy into a language your computer can implement in this hands-free approach to investing.
InsightsInvestopedia explains: The global interconnection of U.S. payment systems makes commerical and financial transfers possible.
TradingA trading system can save time and take the emotion out of trading, but adopting one takes skill and resources - learn more here.
TradingAutomated trading systems minimize emotions, allow for faster order entry, lead to greater consistency and resolve pilot-error problems.
TradingMost brokers will provide you with trade records, but it's also important to keep track on your own.