Ed:
<<I have read your 2 descriptions of your system. Real time scanning of 3000 stocks AND all the level 2 info..which generates automatically entry and exit points? Wow. If that really works I would suggest you get a Web site up fast with some demonstration of results. If true, you have a very very valuable product!!!>>
One clarification: The entry and exit points are generated by the computer strictly based on the rules and conditions that are programmed into the system by the user.
This is not a mysterious black box type system. It will not make profits out of a losing system. It's advantage is power to monitor thousands of stocks simultaneously against a rigid set of entry/exit conditions, with the speed of near instantaneous order-placement.
Because of this, I view this daytrading platform as a step above what is currently available. However, this must be taken with caution. I believe Josh Levine was the one who described the "Watcher" system as a "Trading Amplifier" ==> It can make a good trader into a great trader, and a bad trader into a super-bad trader!
Unfortunately, as you pointed out, the upfront system costs have been quite expensive and the monthly satellite data cost is ~$1000/mo. However, I expect that this system will be well worth the cost, after accounting for trading profits.
<<Sounds like if your claims are true, you got a product that ought to be marketed to various trading houses. >>
After I finish ironing out some of the last remaining details and begin full implementation of this system, I might be interested in marketing it to a few trading houses. As part of this, I would consider working with a few successful traders and incorporating for them their trading systems into this platform as further demonstration for marketing. But, that may be 2-3 months away. (E-mail me if anyone might be interested in trying this: ericpatterson@erols.com)
In short, I believe that an advanced trading platform will put the individual trader on a more level playing field with the big computerized marketmakers.
I am interested in hearing what other traders think are valuable features they wish they had available in a trading platform/system. Comments?
Happy Trading,
-Eric |
