Hey guys, as a new trader tired of seeing the 401k disappear down the crapper, I have been looking at software that can help me with my decision making. I realize that the majority of you don't need or trust that kind of help, but I sure could use it. I also have an inherent distrust of these programs, but I think it would help me with the learning curve if I can understand why such and such is recommended. What can you recommend ? My favorites to date is: Best Choice, Omnitrader, Wizetrade, and Tradestation. Any help or insight would be appreciated. Thanks Haroki
Haroki, I have found the the pairs trading strategy is helpful because it is market neutral and therefore much harder to make really bad decisions. I subscribe to a site called www.pairstrading.com and it has been great. I use both their newsletter and their software and have been finally making money. Check it out. If you hear of any good order entry software, let me know.
Do a search for wizetrade on this site. Here is one such thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=10176&highlight=wizetrade Trade Ideas is a firm advertising on this site that might be better. I have no experience with them. Maybe someone can comment.
I am referring to any vendors that come on this site, try to infiltrate and act like a fellow trader when they are not - their sole agenda is to sell their product or service. Usually they have a very small post count. There are some real traders that also happen to be affiliated with a product or service but the ones with class tell people that up front - Only you know what your real motives are.
I have noticed the same thing, but I'm not what you think... just new here. I've had a lot of success, at least relative to where I was before, and thought I'd share. I guess if you think I'm a vendor, ignore me. If you do have thoughts on the pairs trading strategy or some alternative sites, I'd be very interested to hear about them.