TradeStation Indicators

As traders, we have learned to rely heavily on computers to process and sort through massive amounts of information. While computers have made trading immensely easier, some traders miss the fact that the human really can do some things much better than a computer can. To utilize and combine the strengths of both the computer and the human is a superior approach for trading on the TradeStation platform. This is one of the most powerful ways to trade; it is called computer assisted trading.

The human brain and nervous system is much more sophisticated than a computer. A computer trading strategy can only perform the exact logic that it has been programmed to execute. A computer cannot read a chart and get the whole picture the way a trader can. As a trader, you can look at a chart and in a matter of seconds take in account all the nuances and variations that are being displayed. Therefore, the human brain is the best analysis tool for making trade entry decisions.

The computer excels at searching through vast amounts of data and locating good potential trade entries for you to select trades from. Traders don't make money while constantly searching for possible entries they only make money from trading. Allowing the computer to find potential entries will save you enormous amounts of time searching for possible trade entries and it will increase your earning potential, as you will have available a greater number of quality trades.

You can use the power of EasyLanguage programming built into TradeStation indicators to search for possible trades in two ways. First, you can use RadarScreen to screen a whole list of symbols at once. RadarScreen can be displayed on your computer screen, or it can fire off visual alerts or audio alerts to direct your attention to good trade opportunities.

Secondly, TradeStation Indicators can be used directly on your trading charts. Your indicator can utilize a visual display, or it can give a visual alert or audio alert when it finds good trade opportunities. TradeStation Indicators and RadarScreen together are very productive tools to accomplish all the grunt work of finding good trades. This allows you to quickly analyze many good potential trades and select and execute the best.

Computer assisted trading using TradeStation indicators and RadarScreen is a very powerful trading approach. After you select and make your trade entry, you can handle the exit management using either a chart based trading tool strategy , or a fully automated exit strategy .

I often say, the most successful trader will do what the human can do best (which is make the trading entries), and let the computer do what the computer can do best (find possible trades and manage trade exits). If you are not taking advantage of your inherent human strengths along with the power of EasyLanguage programming built into TradeStation indicators and RadarScreen indicators for using computer assisted trading, maybe it's time to make a change.