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Neal: Right now, there are a lot of people afraid of letting the computer do the trading for them. They don't want to lose everything if the computer malfunctions. |
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Committee: Presently, there are safeguards in on-line trading. For example, your account is always checked for sufficient funds before a trade is placed. I look at my entire portfolio at the end of the day, and then I decide how much money I allocate to each commodity for tomorrow's trading. Second, if I want to use stops to protect my gains, then I want the program to execute the stop at the price I set and not at the day's close or tomorrow's open. Third, I want a program that allows me to develop highly sophisticated system variables. Delphi allows me to do this. |
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Neal: What happens if you can't program? |
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Committee: You can always hire a programmer. In some parts of the country there are user groups for software. These groups meet every month and share ideas on programming and investing. There is a new concept brought forward by Digital Enterprises Ltd. Their software allows the investor to highlight data patterns, and then the program writes the system. Even if you have no programming skills, their program will write the appropriate system. That's amazing! The last option available to the nonprogrammer is to shop around and hire a CTA (commodity trader advisor). There are several thousand CTAs using various systems. By hiring a CTA, you gain not only a system but also a professional trader. |
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And currently, there are programs where you do not need to be a programmer. You first identify the computer, write the program, and then you just identify the trading pattern. |
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Neal: Yes, I have heard of those folks; they are located in New York. Do you have an easy system that you can share with us, any kind of pencil and paper system? |
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