New Ideas on Real-Time Trading Tools for Emini and Forex

By Lawrence

I have been thinking of what kinds of real-time trading tools will help the Emini day traders. I came up with several concepts last year but was stuck with technology issues. Here are the ideas I came up with and I am looking for feedbacks.

Real-time Custom Market Breadth Charts

I have been trying to make this working over past few months, the custom breadth data like custom tick indices are very useful for day trading. I tried multiple variations of the concept but not really sure which one is better.

By keeping the charts simple, I can upload them automatically and allow premium members to see the charts updating like every minute or so. I cannot get it to real-time update though unless I also upgrade the power of our servers.

So I seriously wonder if I should pursuit this idea further.

Scalping Signals

It’s been requested for so long yet I have not done it because I was not sure about the delivery speed of the signals.

After a year of fine-tuning, the real-time trading assistant tools can now handle much more frequent updates meaning that scalping signals at 1-minute level can be broadcasted without much lag.

But what kind of scalping signals would be useful?

Counter-trend plays with 2 points potential or those that has better payoff at 4 points or more?

This requires a lot more thinking and discussions.

Trend State Indicators

One problem I have seen with many beginner traders is that they do not know what the current trend is. Since trend is a combination of higher timeframe and your primary timeframe in trading, it is often confusing for beginners to pay attention to the trend and remember what to do in different type of trend environment.

By having trend identification automated and display as a single line in the real-time trading assistant, it eliminates the guess work so that beginner traders can focus more on executing their plans as oppose to being confused by the possible interpretations of the current state of the market.

So how many types of trend identification method should I put into the trading assistant tools?

May be supporting the swing trend and moving average trend methods as a start is enough.

I like to know what you think about these ideas. Email me at lawrence@daytradingbias.com or comment below.