An insight into DirectTrader Pro
DirectTrader Pro is the name of the program and it is much more than just a charting program.
Some of these strategies include Chart Pattern, Market Timing, Jeff Cooper, Linda Raschke, Custom Indicators, Expert Rating, Real Time Trading and Dr. Elder's Trading Strategies. By back-testing these strategies in the Rule Builder you know what returns the strategies have produced over a number of years and how these returns compare to the general indexes. You also know how much trading activity is required to take advantage of these strategies and if you have enough capital to implement them to withstand the maximum drawdown. You know what market trends it will perform best and worst in. The Trade Design Studio answers these questions in seconds. You receive an objective analysis of exactly how your strategy performed in the past and how it should perform in the future and whether it is compatible with your personal trading style. DirectTrader Pro also has a new Portfolio Simulator function that provides a different approach for back testing your strategies. You first set up the simulation by specifying entry and exit strategies, the initial investment and capitalization constraints. The test run then produces a day-by-day simulation of trading the strategy which tracks investment dollars from start to finish.
It combines stunning graphics with an easy to use interface. It displays an on-chart indicator library with a Color Barometer to give you an instant indication of the status of each chart. Over 50 indicators are just a click away. You can even write your own indicators by simply describing them to the Trade Design Studio and adding them to the library. The program also gives you excellent drawing tools such as trend line, regression lines, Gann fans, Fibonacci arcs, fans, time zones, retracements and others. One very nice feature is the control panel on the right. It displays the indicator library. Just point and click to chart one or more multiple indicators. At the touch of a key the control panel changes to display your favorite securities, portfolios or even an entire industry group structure. DirectTrader Pro gives you a quote grid with up to 700 tickers. You can chart real time or historical tickers from quotes. You can also display scrolling news updates and ticker news stories. It also has real-time alerting with alerts on 1, 5, 15, 30, 60 minute daily or weekly data. You can use the Trade Design Studio for custom alerts. The program introduced the first artificial intelligence based trading system in 1985. Today it is programmed with over 400 rules that represent the insight of technical experts for the last 50 years. What it means is that based on the fact that no single rule works all the time, the program incorporates many rules that work together in a powerful synergism to signal when the overall market or individual securities are ready to move. It even gives you an expert rating (ER) and a test based expert opinion on each chart you view. The program also automatically organizes all of your stocks into industry groups and sectors. It then builds an index of each group and sector. By doing so the program is able to calculate volume on groups and deliver an industry analysis. You can even build customized groups with breadth data. DirectTrader Pro also includes a portfolio manager that is capable of tracking virtually an unlimited number of accounts and has many of the features from a professional portfolio manager. It includes securities and cash management, stop/loss alerts, year-end reporting for tax preparation, automatic stock split adjustment and integrated charting features. DirectTrader Pro also includes the ability to combine fundamental analysis with their technical work. It allows you to rank your stocks based on over 300 fundamental factors. You can also build your own fundamental trading rules utilizing the Trade Design Studio into your own trading systems.
The program also comes with free educational tools. It includes tutorials that cover basic functionality and building winning trading strategies. It's presented by DirectTrader's senior staff members and designed to get you up and running as quickly as possible. This program is recommended to both the trader and the investor.