What is TradeStation?
Most merchants rely entirely on their computers to process and classify large amounts of information. Trading has become much easier since the advent of computers, but there are some traders who feel that in some areas computers are not as good as humans. For them, the best approach to trading using Trade Station is to unite the strengths of the human mind and emotionless computer analysis of the market. Known as computer-aided commerce, it is perhaps one of the most powerful methods of doing business.
It is true that a computer will use the exact logic of your trading strategy program, but it does not have the sophistication of the human brain. A trader can read a chart and take into account all the variants in a few seconds, but a computer cannot do this. So the best tool for making entry decisions is the trader himself.
On the other hand, risking real money in the market often has a profound effect on the human psyche and it can be difficult to choose the best course of action to take. The TradeStation trending system has three indicators that are easy to use and can reliably guide a trader to the best deals on the market.
Another advantage is that the computer will sift through large amounts of data to find possible entries, which will save the trader a lot of time and increase his profit margin. There are two ways to use TradeStation indicators to find potential trades: The Radar Screen tool can check a complete list of symbols in seconds; it can be displayed on the screen or it can send alerts to the trader whenever good trade prospects emerge.
The second method is to use the Trade Station indicators directly on the trading charts. When good trading opportunities arise, you can give the trader an audio or visual alert. Using the indicators and the radar screen together takes a lot of effort to find good trades and all the trader has to do is analyze them and choose the best ones.
A trader who uses radar screen and trading station indicators in his computer-assisted trading has a powerful tool at his fingertips. Once you have chosen the trades, you make your entries and use a fully automatic exit strategy or a chart-based trading tool strategy to take care of exit management.
Using the Trade Station indicators and radar screen for computer-aided trading is the best approach to ensure success. The computer finds the potential trades in an indifferent way and handles the trade exits, while the trader makes the trade entries – a harmonious combination of the human brain and modern technology leading to a profitable goal.
The biggest advantage of using TradeStation is that it supports automated trading. Merchants can use EasyLanguage programming to create a custom strategy from scratch.