Finding a good trading opportunity can be a difficult task. There are over 10,000 stocks actively traded in the U.S. market alone! Even if we are able to find a good stock to trade out of all of those available, we are still left with the question of when to trade, and of course, when to exit the trade. In fact, most traders spend the majority of their time simply prospecting for a good trading opportunity.
OmniTrader Xpress was designed to automate as much of the prospecting process as possible. By automating most of the tasks that are required to find a good trade candidate, we can focus on maximizing our opportunities when they present themselves. OmniTrader Xpress will scan the market for a specific setup, apply Trading Strategies in order to find the best entry point, and it will provide the tools necessary to assure us that we are looking at the best trading candidate.
With OmniTrader Xpress, we can basically follow a four step process in order to find excellent trading opportunities:
- Scan the Markets: OT Xpress’ OmniScan feature will scan the entire stock market in order to find specific setups. Whether you are looking for a very short term trade or you are looking for an investment opportunity, there are numerous scans that run automatically to present us with a qualified list of stocks that match our desired criteria.
- Generate Trading Signals: Once you have a good list of stocks, you will run OmniTrader Xpress’ analysis in order to find the best entry points. OT Xpress uses three different Trading Strategies, each designed to find a particular type of trading candidates, in order to bring the best opportunities to our immediate attention.
- Confirm the Signals: With tools such as Automated Chart Patterns, Drawing Tools, and an Indicator Library, OT Xpress provides us with various ways in order to confirm that we are looking at a prime candidate. This process will help us find the crème de la crème as we look at the different prospects.
- Manage the Trade: Finding great trade candidates is only part of the answer. We also need to manage the trade in order to minimize our risk and maximize our reward. OT Xpress provides us with a Trade Management Tool to insure that we cut our losses short. We also get alerts via the Orders Notifications Feature so that we know exactly what actions we need to take with our broker.
By following this process, we are able to take all of the tradable securities in the market and find great trade opportunities in a matter of minutes! This process is covered in the tutorials in the software, as well as an in depth look at the major features in the program. Please take the time to watch these tutorials in order to understand the incredible power you have at your fingertips as an OT Xpress user.
Successful traders use a number of methods in order to make money in the stock market. While their approach to the market may differ from person to person, the key to their success is consistent. Have the right tools to engage the market, only trade the right security at the right time, and cut your losses if things go against you. In OmniTrader Xpress, you have the tool to engage the market and find prime trading opportunities. Practice trading with the tool in Game and Lab Mode. Get comfortable with getting out of a bad trade and maximizing profits when they come your way. With just a little bit of practice and discipline, you will find that you are well on your way down the path to trading success!
Best of luck with your trading!
Nirvana Systems, Inc.
