This is the TimeToTrade help wiki. Use the TimeToTrade Trigger Trading Technology™ to execute your trades when Price, Candle Stick, Trend Line, Volume and Technical Analysis chart conditions are met - no coding required. Trade directly in the world’s global markets. Backtest your Trading Strategies. Calculate your UK HMRC Capital Gains Tax liabilities. Manage your Investment Club.
Build your own trading system - Investors Chronicle
Created: 25 january 2013
Written by: Dominic Picarda
Good strategy is the key to long-term success in trading. Without a solid approach, our trades will tend to be random, and our results will thus be random too. Most of the time we devote to our trading ought to go into researching and refining our strategies, therefore. For most of us, however, it doesn't. Instead, we mainly occupy ourselves with the donkey-work of watching the markets and placing trades.
Ideally, then, we would automate as much of this effort as possible. Waiting for a trade to arise and placing an order is a job best suited to a computer. Until lately, though, computerised trading has required software and programming expertise that were out of many small traders' reach. The newest release of timetotrade's (www.timetotrade.eu) charting platform makes the whole business easier than ever before.
timetotrade lets you test out strategies in the equity and currency markets, and then sends you alerts when a real-life opportunity next arises. These could be on the daily timeframe or in second-by-second action. Although it offers 120 indicators, you don't have to write a single piece of programming code to summon them up. It's all done by clicking icons on the screen.
While I was getting a live demonstration last week, I took the chance to pick the brains of timetotrade's founder, Dary McGovern. He is an active trader who has been writing his own strategies for several years. He showed me a couple of his own creations in action, and the results were impressive. So, how should novices go about making their own winning strategy?
"Start with a blank piece of paper," says Mr McGovern. "Look at a chart and pick out when were the good times to buy and sell. Then identify what the technical indicators were saying at those moments. The basic elements you need to build your system are the trend and entry and exit signals. A popular way of defining a trend is with the direction of a moving average. I like to use the direction of the True Strength Index (TSI) in my own trading, though. A rising TSI represents an uptrend, and a falling one, a downtrend.
"You need to decide what timeframe you want to trade," says Mr McGovern. "The bigger the interval, the larger the moves you can capture, but also the more risk there is. I like to trade off the one minute chart, looking for gains of 10 pips at a time. This way, the system will offer up lots of trades. But I also have a daily filter where I am aiming for moves of 200 pips, and risking 50 pips or so.
"It also pays to focus on a particular market. Different markets have different characteristics, so you need to tailor your system to what you're trading. Identify what sort of range it tends to move in, and whether it tends to be spiky in its movements. I find the euro-dollar a particularly good market for my own purposes.
"When it comes to getting out of losing positions, I like to sell my position into strength. If you cut your losses on a buy trade when the market is really oversold, you usually then sit and watch it snap back straight afterwards. So, I usually try and aim to close out once this happens."
I'll be reviewing the timetotrade platform and some basic strategies in the coming weeks.
It has never been easier to execute your trading strategy. Our Trigger Trading Technology ® means you can now automatically execute your trades directly in the world’s global markets.
You need never miss a trading opportunity again!
Do you want to:
- buy when your technical analysis chart conditions are met? Really buy, not just get an email or sms alert?
- or sell when a support trend line is broken?
- or back-test your strategy going back as far as 30 years?
TimeToTrade's Trigger Trading Technology™ is truly game changing. It gives you a trading advantage. The power to take your trading to a new level.
Open a FREE TimeToTrade account today to:
- Trade UK, US and European Shares - apply now
- Execute trades when your Price, Candlestick, Trend Line, Volume and Technical Analysis chart conditions are met using the Trigger Trading Technology® - learn more - help video
- Email and SMS Trigger Trading™ Alerts - learn more
- Trade Off The Chart - learn more
- Back Test Trading Strategies with up to 30 years of historical data - learn more
- Create Simulated Trading Accounts to test your Trigger Trading™ Strategies - learn more
- Real time Forex, UK, European and US stock market data - learn more
- 170+ Technical Analysis and Candlestick Pattern Indicators - learn more
- All the tools you need to set up and run a successful investment club - learn more
- Manage your Portfolio and calculate UK HMRC Capital Gains liabilities and SA 108 CGT Tax Returns - learn more
- Create Trading Competitions for you and your friends - learn more
- Apply for a trading account today to get the Live Account Features - apply now
Apply now to try our superb platform and get your trading advantage.
The information and data provided is for educational and informational purposes only. Interpretation and use of the information and data provided is at the user's own risk. All information and data on this website is obtained from sources believed to be accurate and reliable. However, errors or omissions are possible due to human and/or mechanical error. All information and data is provided "as is" without warranty of any kind. We make no representations as to the accuracy, completeness, or timeliness of the information and data on this site and we reserve the right, in its sole discretion and without any obligation, to change, make improvements to, or correct any errors or omissions in any portion of the services at any times. Past performance is not a guarantee of future results. Trading carries a high level of risk to your capital and can result in losses that exceed your deposits. It may not be suitable for everyone so please ensure you fully understand the risks involved.
All services are provided by TigerWit Limited. TimeToTrade is a trading name of TigerWit Limited (a company registered in England and Wales under number 9479466). Our Registered address is TigerWit, 7th Floor, Augustine House, 6A Austin Friars, London, EC2N 2HA, England. TigerWit Limited is authorised and regulated by the Financial Conduct Authority number 679941.
The trading services offered by TigerWit Limited are not available to residents of the United States and are not intended for the use of any person in any country where such services would be contrary to local laws or regulations. Subscriptions to TimeToTrade products are available if you are not eligible for trading services.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading spread bets with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. All clients should be aware that trading involves risk.