Online Trading – Wizetrade Autotraders

You may ask, what is an autotrader? In today’s online investing markets much of the trading is done via computers. For the single investor an autotrader is nothing more than an application that is doing your investing for you based upon selected criteria (strategies).

In a previous article, “Online Trading — What is Wizetrade”, I mentioned that Wizetrade has two autotraders. This article is a high overview of these two. CommandTrade is the autotrader for stocks and CommandTrade FX is for forex and both are comprised of a set of features designed to allow the user to tailor the strategies just about any way they want to.

Common To Both

These are separate applications but have the same overview screen, with tabs for back testing, managing your trades and access to a web community. Here you also have access to baskets (predefined set of stocks or currencies pairs) and an interval manager. (The interval manager defines the time frame that a chart will be shown in.) Each stock or pair has 8 intervals and clicking on that interval will present a chart in that time frame. Each interval is separately configured and can be set from 1 minute to Long Term (months).

When setting up a trade, you define what strategy to use. There are predefined strategies from the vendor to get you started, community based strategies from other users, and your own strategies that you have created. A strategy is made up of a set of rules and there is a rule generator to build the individual rules. The rule generator includes just about every conceivable component to allow you to build very complex rules.

When testing your strategies, there is a back test module that will allow you to test backwards using 2+ weeks of data. While doing this you can turn off and on individual rules within your strategy to see how the overall strategy is affected.

Both have a built in demo accounts for testing purposes. Each has also has an interface to MB Trading and optionsXpress for live trading. Both brokers are interfaced for stocks and MB Trading is interface for currencies. There are a couple different places where you can select either the demo or live interface. When live, the backgrounds turn red.

CommandTrade

This application contains a search engine for stocks meeting a specific set of parameters. The search setup is one of the easiest I have ever worked with. When you click on Command Search, you are presented with a popup with a series of check boxes for:

• various interval selections

• market volume selections

• price within % of 240 day high and low

• price within % of 60 day high and low

• new 240 day high and low,

• new 60 day high and low,

• above 50 day EMA high and low

• below 50 day EMA high and low

• above 200 day EMA high and low

• below 200 day high and low

The percentage boxes also have a fill in box for you to enter your desired percentage. And lastly there is basic information fill in boxes for:

• 5 day average trading range

• 10 day average trading range

• Price

• % gain for the day

CommandTrade FX

The autotrader for forex has 27 pair of currencies that you can select from, all the majors and a good set of exotics. There are predefined strategies for both yen and non-yen pair and the rule generator has all the components to support currencies.

I believe as we go through time, autotraders are going to take over how we perform our trades. Right now, we are still in its infancy stage but more and more of these types of traders are coming on the market. Some boast very high trading results. I would be skeptical until fully tested in your own environment. I personally have had good and negative results with the Wizetrade autotraders. The trading in the markets today has become very fluid and changes from day to day and at times very difficult to predict. You need the ability to quickly change with them. These applications from Wizetrade with their flexibility can do this and I will continue to test and use them. I always have both up and running.

Chuck Ainsworth

http://chuckytrader.com

The post Online Trading – Wizetrade Autotraders appeared first on Forex Success Traders.

from WordPress http://ift.tt/1I1oHnc

via IFTTT