Markus Heitkoetter
As CEO at Rockwell Trading, Inc., Markus has taught hundreds of investors in the U.S. and European markets. Markus started trading 19 years ago, using point and figure charts from published numbers in the morning newspaper, mainly with stocks. In 1996, he began developing a number of trading systems by using SuperCharts (which is now TradeStation), MetaStock, OmniTrader and other software. In 2002, Markus decided to quit his regular day job as a director at IBM and become a professional trader. He moved from Germany to the United States to get started.
Throughout his career, Markus has traded EVERYTHING: stocks, options, futures, commodities, spreads, Forex, foreign markets, interest rates, etc. If it’s out there, he’s probably traded it. In addition, he’s traded on a wide variety of different timeframes: ticks, 1-, 3-, and 5-minute, hourly, daily, and weekly.
In the past 5 years, Markus has taught his strategies and methods to hundreds of traders all over the world, offering educational webinars for the CME (Chicago Mercantile Exchange), Eurex, FxStreet, Strategy Runner, and other financial companies. He’s written articles on over 500 websites, and he’s become an expert contributor on ezinearticles.com, Yahoo Answers, and FAQTs.com. Markus holds the German equivalent to an MBA in Business Administration and Computer Science.
ClicK Here to learn more about Rockwell Trading, Inc.
Click Here for a Free Day Trading Strategy Lesson
As CEO at Rockwell Trading, Inc., Markus has taught hundreds of investors in the U.S. and European markets. Markus started trading 19 years ago, using point and figure charts from published numbers in the morning newspaper, mainly with stocks. In 1996, he began developing a number of trading systems by using SuperCharts (which is now TradeStation), MetaStock, OmniTrader and other software. In 2002, Markus decided to quit his regular day job as a director at IBM and become a professional trader. He moved from Germany to the United States to get started.
Throughout his career, Markus has traded EVERYTHING: stocks, options, futures, commodities, spreads, Forex, foreign markets, interest rates, etc. If it’s out there, he’s probably traded it. In addition, he’s traded on a wide variety of different timeframes: ticks, 1-, 3-, and 5-minute, hourly, daily, and weekly.
In the past 5 years, Markus has taught his strategies and methods to hundreds of traders all over the world, offering educational webinars for the CME (Chicago Mercantile Exchange), Eurex, FxStreet, Strategy Runner, and other financial companies. He’s written articles on over 500 websites, and he’s become an expert contributor on ezinearticles.com, Yahoo Answers, and FAQTs.com. Markus holds the German equivalent to an MBA in Business Administration and Computer Science.
ClicK Here to learn more about Rockwell Trading, Inc.
Click Here for a Free Day Trading Strategy Lesson
The High Cost of "Free"
Posted 09-03-2008 at 06:56 PM by RockwellTrading.com
Did you know that "free stuff" can actually be quite expensive?
Let me explain:
A few days ago we started our Live Trading Chat Room. In this room we are trading several markets using a simple day trading strategy. In order to trade this strategy, you need to have a charting software that fulfills the following three criteria:
In the past couple of days I have been answering dozens of emails from traders who told me "I use XYZ software and I can't display tick charts. I don't want to use any other software, because the one I am using is free".
Ok, help me understanding: You want to make thousands of dollars each month with day trading, but you do not want to spend $100 on a decent charting software?
You might have heard the saying "Trading is a zero-sum game". If you want to buy a stock, a commodity or a currency then somebody else has to sell it to you. In some markets this might be a market maker, but most of the times it's another trader.
So if you buy and prices are going up and you win, then the trader who took the other side of your trade loses. Admitted, he could be trading in a different timeframe and while you are taking profits he's still in the trade and just experience a drawdown, but for the sake of simplicity let's say: If you win, then the person who took the other side of your trade loses and vice versa.
So you want to play what they call "the game of games" and you play it to win. You are trading against the brightest minds in the industry, equipped with the best software and hardware, using multiple monitors, $800 chairs, ergonomic desks and lighting so that they don't get tired, a blazing fast internet and data connection.... and then there's you with your free charting software that can't even display tick charts.
Who do you think has better chances of winning the game?
Leave your comment!
Let me explain:
A few days ago we started our Live Trading Chat Room. In this room we are trading several markets using a simple day trading strategy. In order to trade this strategy, you need to have a charting software that fulfills the following three criteria:
- You must be able to plot the Bollinger Bands on your charts,
- You must be able to plot the MACD study on your charts and
- You should be able to display tick charts.
In the past couple of days I have been answering dozens of emails from traders who told me "I use XYZ software and I can't display tick charts. I don't want to use any other software, because the one I am using is free".
Ok, help me understanding: You want to make thousands of dollars each month with day trading, but you do not want to spend $100 on a decent charting software?
You might have heard the saying "Trading is a zero-sum game". If you want to buy a stock, a commodity or a currency then somebody else has to sell it to you. In some markets this might be a market maker, but most of the times it's another trader.
So if you buy and prices are going up and you win, then the trader who took the other side of your trade loses. Admitted, he could be trading in a different timeframe and while you are taking profits he's still in the trade and just experience a drawdown, but for the sake of simplicity let's say: If you win, then the person who took the other side of your trade loses and vice versa.
So you want to play what they call "the game of games" and you play it to win. You are trading against the brightest minds in the industry, equipped with the best software and hardware, using multiple monitors, $800 chairs, ergonomic desks and lighting so that they don't get tired, a blazing fast internet and data connection.... and then there's you with your free charting software that can't even display tick charts.
Who do you think has better chances of winning the game?
Leave your comment!
Total Comments 1
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