Wizetrade for Options Navigation Tools to Increase Trading Efficiency
GlobalTec announced today the release of the Wizetrade for Options software, a cutting edge options trading tool that combines access to a wealth of information with the latest navigation capabilities traders need to make efficient, effective trading decisions.
In conjunction with the release of Wizetrade for Options, GlobalTec also released an upgraded version of Option Hunter software, its premier scanning tool for options traders. Option Hunter searches thousands of stocks, and tens of thousands of options in seconds, returning only those stock and option candidates that meet the user's trade style and parameters. These candidates are then plugged into Wizetrade for Options for further chart evaluation.
Based on a patent-pending proprietary algorithm, Wizetrade for Options charts the real-time buying and selling pressures through green and red lines in five time frames that are fully customizable to individual trade styles.
"The key to trading successfully is being consistent, finding something that works, and then repeating the process over and over again, " said John Larsen, product president of Wizetrade for Options. "These two pieces of software help you do that by combining state-of-the-art functionality with an easy to navigate interface that is fully customizable to any individual trade style and risk tolerance.
Using Wizetrade for Options, any options trader can:
1) Track up to 15 stocks at any given time: Build custom baskets of Exchange-Traded Funds, cash indexes or large Cap, mid cap and small cap stocks that can easily be loaded to the Overview Screen with a click of the mouse. The number of baskets is unlimited.
2) Easily filter and sort options chains: In seconds, Wizetrade for Options can help determine which option or combination of options best fit the end-user's trade style and custom parameters.
3) Manage trades efficiently: The end-user will see at a glance open positions, pending orders, completed transactions and account equity all from within the Trade Manager. Enter equity, options, equities with options, spreads and straddles and strangles with a few mouse clicks.
4) Calculate Risk with ease: Determining entry calculations, stop losses, profit targets, risk to reward ratios and account allocation has been simplified-Wizetrade for Options calculates the numbers for the end-user.
5) Instantly find news: A Calendar feature not only shows what stocks have earnings announcements, stock splits or conference calls coming up, it also allows you to type in any symbol and immediately see vital company information that could impact trades.
6) Trade Journaling: End-user will be able to document each trade with one click, enabling a trader to instantly capture the real-time data and all five charts, underlying market conditions and option chain specifics to store for future reference.
7) Trade live through an integrated broker: Wizetrade for Options is fully integrated with optionsXpress (NASDAQ: OXPS), a leading online brokerage-meaning it is not necessary to leave the software to submit orders. Easily switch from paper trade (practice mode) to live mode with the click of a mouse.
Wizetrade for Options is the latest addition to a full line of cutting edge trend recognition software produced by Dallas-based GlobalTec, a nationally recognized investor training organization and provider of software, trading tools and training for individual investors. This product suite includes Wizetrade, 4X Made Easy, Commodity Explorer and CommandTRADE.
Option Hunter software includes customizable alerts that trigger when trade parameters have been met, a Scan Builder Wizard for constructing custom scans and the capability to customize scan results.
Article Source: ArticlesBase.com
