Thursday September 30, 2021 - 09:52:39 GMT
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How Elite CurrenSea-powered SWAT tool eases wave analysis
Elliott Wave theory has been getting more attention now than ever before among both beginner and advanced traders. The reason is that EW analysis has appeared in the spotlight numerous times throughout the past few years and many prominent traders have recommended using the wave analysis in day-to-day trading experiences. While the idea of Elliott Wave theory is quite simple to comprehend for those familiar with basic trading ideas, the utilization of the theory in practice is what confuses traders the most.
Elliott Wave theory presents two wave types and each comes with designated stages. Hence, the traders’ job is to identify at which stage the market is present in the wave pattern. Well, this is where the trouble begins. It is not the easiest thing to detect the start and end of any wave stage and to differentiate between the stages, at all. People can easily be mistaken, which would ultimately affect their trading decisions. That is why Elliott Wave theory often finds usage in automated trading systems.
Computer and algorithmic software solutions are programmed to identify and detect the stages of the waves much more accurately than the human eye. Apart from the incredible precision, these tools often come with additional features that aid in EW analysis, especially charting mechanisms and technical indicators. One of the most advanced Elliott Waves trading tool that the trading industry has witnessed during recent times is the SWAT tool powered by the leading European algorithmic trading startup Elite CurrenSea.
Why choose SWAT?
For individuals that aren't well informed and do not have a good understanding of the market, it makes sense for them to follow market trends, while more informed investors profit from an alternative strategy. For more active traders, and even the non-professional trader, most basic strategies for trading are limited because of the necessity to pay attention to the day-to-day work. This restriction limits the amount of focus that is paid to any trading strategy, and to the trades generated through strategies.
The fundamental strategies used by investors can be classified into two categories. The first category includes a longer-term strategy that requires less attention to the day and effort of the investor. The disadvantage of these strategies is that they are not able to generate regular returns due to their long duration and lack of focus on monitoring and adaptability of the trading position in accordance with market conditions. The second type of strategy is to devise and implement plans only when a trader is able to observe and implement the strategies. When the demands of their job prevent the trader from reviewing and changing its trading plan, the trader closes his positions and exits the market.
The issue with this strategy is that strategies could require longer than a few months in order to "play out" in the marketplace for them to earn a profit. In addition, the options to implement an approach would be limited in this type of environment.
That is where SWAT proves to be exceptionally useful. The tool will automate day-to-day trading in accordance with the traders’ requirements, trading capital, strategy, and decisions. The tool can perform in any way the trader desires. It can take the profit whenever it is indicated to withdraw, and it will enter the market whenever the conditions prescribed by the user are met. Traders can simply sit back and enjoy their lives, do their everyday work, and come back only to check how their investments are performing without much need for interference. We will not cover the features of the SWAT in detail here, since it would be a lengthy article. You can always check the technicalities and pricing of the program on the official website of Elite CurrenSea.
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