Update: New Computer Investing Products
by CI Staff
OTrader Portfolio Management
OTrader Portfolio OTrader 4.1 is a portfolio management tool for stock, options, warrants and futures traders. The program allows you to plan trades before placing capital at risk, use the trading plan checklist to try to improve trading discipline and potential returns, and review your trades. You can manage trades with stop losses, profit targets and end of financial year reporting.
A trade entry screen provides a simple way to keep your portfolio up-to-date. For stocks, you simply enter the ticker symbol, price, dividend data, number of shares and target prices for leaving the position. Options, warrants and futures require basic data such as the strike price and expiration date. You can also track mutual funds and trusts.
After transactions are entered, you can view your financial positions in an easy-to-read table. OTrader also allows you to update trade prices for free from Yahoo! Finance or use Dynamic Data Exchange (DDE) to connect to an existing data source.
You can create an unlimited number of portfolios and 23 advanced trade analysis reports show the most profitable aspects of your trading systems.
The site offers free video tutorials, which take you step-by-step through the program. You can download a free trial version of the software from AAII’s Download Library in the Portfolio Management section or at the OTrader Web site.
CoolTrade Automated Trader
CoolTrade is a fully automated trading system that places buy and sell orders based on your specifications and also allows for stock screening.
The Stock Filtering program allows you to filter through all NYSE, NASDAQ, and Amex stocks for those meeting your criteria. You can filter stocks by price, exchange, volume, and hundreds of technical and fundamental indicators.
You can input rules and conditions for entering and exiting trades via the Strategy Wizard. The program includes various indicators to help you build trading rules, or you can create your own. You can also download free strategies from other CoolTrade subscribers on-line.
The CoolTrade Automated Trader runs your strategies on its own, executing trades robotically. The system monitors the market from open to close making trades throughout the day. Reports can be generated summarizing trades and profits.
Another useful tool is the Real-Time Market Simulator, which allows you to run a strategy in simulation mode during live market hours so you can test how the strategy reacts in actual market conditions before you put real money behind it. Switching from live to simulator mode is done with a simple click of a button.
Trades can be made manually as well and are placed through Interactive Brokers LLC. Trades cost $0.50 per 100 shares, with a $1.00 minimum. A video tutorial explains the process of registering, downloading, installing and using the program. The software program is free and includes technical support. A live data feed is necessary and costs $39.99 per month.
Traders Media has launched a new Web site for commodities trading. Inside Futures is designed to give an inside perspective on futures trading. While the site is geared toward new futures traders, investors of all skill levels will find useful information. The site includes educational materials, commentary and analysis as well as fundamental and market data. Access to this site is free.
ScanTheMarket is a new stock screening Web site that allows you to scan thousands of stocks during the trading day based on custom criteria or a trading strategy. The scanning system is Web-based and requires no download. In addition to stock screening, the site has the ability to backtest trading strategies, and send users E-mail alerts. Stock quotes, charts, news and technical analysis tools are also available. A free trial of the site is available. A subscription to the site costs $14.95 per month.
CBOT and eSignal
The Chicago Board of Trade (CBOT) and eSignal have teamed up to offer CBOT Advantage Wireless, a real-time service that delivers quotes, charts and news to wireless devices. The service is compatible with various mobile phones, and Palm-based Treo, Blackberry and iPAQ products. A subscription costs $99.95 per month or $24.95 per month as an add-on to CBOT Advantage Desktop. A free 30-day trial is available.
Interactive Brokers LLC
Interactive Brokers LLC has added Chicago Mercantile Exchange and CBOT floor-traded products as well as Swedish and Japanese stocks to its IB Universal Account offerings. Customers can use a single-base currency to trade securities in other currencies. Trading costs are managed through professional financing and currency conversion rates. Five interbank currency dealers will route the forex orders to the dealer with the best price.
MTPredictor has launched two new add-ons for eSignal and Trade-Station users. Both applications now offer MTPredictor trade set-ups and the ability to asses risk-reward payoffs, determine portion size and manage trades. The new program also uses the Isolation Approach to Elliot Wave to find low-risk, high-reward stocks. The firm has also introduced a new position-sizer for real-time forex trades.
WhisperNumber, Presented by HedgeStreet
This new joint Web site allows WhisperNumber members to trade on HedgeStreet’s on-line market and HedgeStreet members access to WhisperNumber’s research and data. HedgeStreet is a government-regulated market where traders speculate on economic events and price movements. WhisperNumber is an independent financial research firm that collects sentiment and market expectations from investors. The co-branded Web site will initially offer information on the probability of price changes on crude oil, gas at the pump, and gold and silver contracts.