The Advantages of Rule Based Trading
Posted in Trading Strategy
Have the cake and eat it too!
The road to freedom is not anarchy. Build and follow system and success will follow you- be it in market or life. Following are a few of the plus-points of rule-based trading which will give you an idea on why you should follow this system:
Advantage #1: Never Miss an opportunity
Missed the bus? No more! Seconds can mean the difference between a big gain and a disappointing trading loss. You miss the trading opportunity just because you over-looked nuances of the right chart or wasted precious seconds entering an order manually while the market moves
away from you. Using the power of your computer, Falcon7 is designed to monitor the markets, seek and identify trading opportunities based on your specified trading rules and then send your buy, sell, and even your cancel orders—for execution.
Advantage #2: Track More Stocks or Commodities
Who owns your eyes- the computer screen or your sockets? Gone are the days of being glued to your screen, trying to keep up with each stock at once. Keep your eyes to yourself! Falcon7 gives you the power to monitor dozens or even hundreds of securities at once—and more efficiently at it—than ever, ever before. It is designed to follow multiple markets for you easily, no matter how complex your trading strategies are, or how gruel your trading
rules are. This means you can include multiple conditional entries and exits, profit targets, protective stops, trailing stops, and more in your strategies, and have them all automated simultaneously!
Advantage #3: Remove stress and bring discipline to trading
How often have you missed a trading opportunity simply because you hesitated too long? How many heartaches did you have watching your profits disappear because you held out for more profits, instead of sticking to your planned exit strategy? There’s simply no doubt about inaction being your worst enemy while trading. Kick out the inaction hangover. Enter and exit market—all based on the historically tested strategies you design, all with your Friendly Neighbourhood Falcon7!
Advantage #4: Programming Knowledge is not required
Show the door to the programmer! No more of being at his mercy in translating your ideas into low level C++/C# code. Falcon7 makes it easy to write complex strategies with Falcon Formula Language. And be assured no one will steal your secret strategies with multiple security options.
But then some still want to believe rules are for school children…