Trading Falsehood 115

"It's best to write your own
simple software for trading."

There are four reasons why this is not a good idea:

You can't produce simple software for commodity trading because commodity trading is not a simple application. It is a detailed, technical one.

That doesn't mean it is complex but there is much scope for good design to produce the flexibility and speed essential for trading software.

Specialized trading knowledge and programming skills are the necessary talents for this work.

Of course, the most fundamental input required is the trading knowledge. The software must produce results that simulate live market trading conditions and take account of such details as price slippage and contract rollover costs. These are not fringe costs that can be ignored - they are likely to make all the difference between results that are acceptable and those that are not.

Now that the alternative of purchasing suitable software is available, this is by far the best course of action to take.

It is now possible for you to purchase software that measures up to the
standards required by professional traders. It is only recently that the private individual has been able to obtain such software.

The time needed to produce suitable software for just one trader could not be justified.

Even if you possessed the necessary trading knowledge and software skills, it would not be worthwhile expending all the time and effort needed to produce just one software solution for yourself. You would be far better off purchasing suitable proven software straight away.

But how is it possible to know if a particular trading software product is any good?

You would always be advised to get references from other users of any software you were thinking of buying.

But the best recommendation is that you choose software you know is used by other successful professional traders.

 

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Copyright David Bromley 2006
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