Thursday, September 3, 2009

We leave the demo account charts running for audible alerts when we hit stops, profit targets, technical price levels and when certain technical indicators form. We also keep the Automatic Trading Systems that we utilize running on the demo. We seldom allow computers to automatically execute trades unattended with real money (although they can). We do let them execute the trades automatically on the demo accounts with pretend money and audibly alert us. We then check and see if we should also execute a matching live trade. The audio alerts also eliminate the need to be sitting in front of the computer 24/7 while a live trade is open, or while just waiting for the markets to do something that would require my attention. The alerts have also awoken me from a sound nap (it is a 24 hour a day market).

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