Need a Direction

[mtcx2009]

I would like to experiment with candle shape detection in automation.

I have a few newbie questions:

1. Can an automated system be created with end user tools that can detect and initiate a trade based on a candle shape such as a doji bar?

2. If so what are the options as far as software and brokers? Is there any true benefit to the more expensive options?

3. Can the system once created be safely run in a simulated mode that provides a real simulation?

4. Can I run multiple simulations live from one account?

5. What technical skills will I need to learn to make this happen?

Thanks in advance.

 

[edbar]

.....1. Can an automated system be created with end user tools that can
....... detect and initiate a trade based on a candle shape such as a doji bar?

Yes. The CoolTrade system has dozens of the candle patterns built in.
All you do is create a rule, such as "doji" is bullish or "doji" is bearish.
Better yet, instead of trying to find an exact one. Use this rule:

Total Bullish Indicators is x greater than Total Bearish Indicators
(where x can be something like 7)

The CoolTrade automatically counts the Bullish and Bearish indicators nightly, based on the "Technical Analysis from A to Z".

.......2. If so what are the options as far as software and brokers?

The CoolTrade Robotic Trading system connects to these brokers:

* Interactive Brokers
* MB Trading
* OptionsHouse
* TD AMERITRADE

.......3. Is there any true benefit to the more expensive options?

You can make that determination yourself.
CoolTrade is under $50/mo. COMPLETE and subscription is month to month.
or you can spend up to $8000 for some other non-automated system, and another $100+/mo to run it.

.......4. Can the system once created be safely run in a simulated mode that provides a real simulation?

Yes, absolutely. Live Simulation is the only way to go.

.......5. Can I run multiple simulations live from one account?

With CoolTrade you can run 1 long and 1 short strategy at the same time.

.......6. What technical skills will I need to learn to make this happen?

The CoolTrade system is all point-and-click with NO PROGRAMMING at all.
Very powerful, yet very simple to use.
Comes with many strategies (click Strategies on the website for performance stats).
You can use the many strategies that come with the system, or copy many strategies from CoolTrade members who are sharing, and you can edit any of them with the point-and-click strategy wizard.

Good Luck,

Ed
CoolTrade CEO / Developer
http://www.cool-trade.com