Читать книгу Day Trade Futures Safely For Reliable Profits - David Bennett - Страница 3

When I talk about day traders I think of them falling into two main camps – intuitive traders and system traders.

If you watch markets long enough (some people watch every tick for years), you begin to get a feel for what is about to happen. If you enter and exit trades based on this feeling, you are an intuitive trader. Some of the most successful traders are intuitive and we can only envy their talent and skill.

If you analyse markets carefully enough, you can begin to formulate rules about the way they usually work. On the basis of these rules you can build a trading plan, which says: “If this situation occurs, I will take this particular action, because over time I have seen that it is profitable to do so.” This is the approach of the system trader; it is my approach and it is the subject of this book.

In this book, I will describe my specific trading approach to day trading futures contracts; it is a description of how I personally research strategies, build a trading plan, and submit trades. It will give you an insight into the way that one trader does things.

Central to my approach are two software programs, the first being a tool that completely automates the day-to-day trading process (by implementing pre-defined trading plans), and the second being a simulator that assists in the discovery of profitable trading strategies. I built these tools for myself and I now sell them to other traders from my TradeOnAUTO website (www.tradeonauto.com). It is not essential that you purchase TradeOnAuto software to make use of this book, as you will still find the techniques described instructive, but if you wish to replicate what I do the software tools are essential.

I assume that the reader has some basic knowledge of trading techniques. For those who find this book heavy going, my earlier book Day Trading Grain Futures would be a good place to start. That said, beginners who are willing to do some internet research along the way will get along just fine.

Good charts are essential to the trading plan development process, so it is important to ensure that your broker provides the facility to study historical intraday charts in several different time frames, or to ensure that you have access to some other quality charting product that will enable you to do this.