I get this question all the time.
“I use Trading Software X and it has all the bells and whistles. Does your Excel software do what Software X does? I just want to make money.” [signed, Trader Losing Money]
You know my answer?
“It’s not the software.”
I’ve used the most sophisticated trading software on the planet. I know people who build real time algorithmic trading systems for a living with the most dazzling formulas and charts you can imagine.
Unfortunately, most traders lose money with their awesome software. In fact they usually blow out their accounts pretty quickly.
It’s simple. They continuously tinker with the bells and whistles in their advanced whiz bang software and curve fit their systems. Their trading strategies look great in the software’s back test module but never make a profit.
Excel trading models aren’t like that.
With Excel you actually design and build something from the ground up. This means you spend more time creating a solid and reliable system and less time tinkering.
Less Tinkering = More Profit.
Just like building your own cabin, restoring a vintage car or teaching your kid how to play soccer, when you do it yourself you know it works or it doesn’t. If it’s broken, you fix it. If it works you leave it alone. That’s why Excel trading models work better for the average trader than fancy software.
So if you find yourself continuously tinkering with your software indicator settings, switching between 15 different charts and back testing new systems every day, think a bit about whether that’s really making you money.
If you’d like to get started with your own Excel-based trading system, check out my Trend Trading Model. It’s a proven system for minimal cost that will get you on track to making real profits.