Transcript
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This is the OddsMaker analysis video. Backtest the entire market. Most other back-testing tools can only track one stock or instrument in their analysis. The OddsMaker looks at all the exchanges or custom symbol lists to determine the odds for a winning strategy. The OddsMaker determines what strategies are most in tune with recent market activity. Uses 15 trading sessions worth of data and scans for all occurrences of a pattern that traders intentify in the Trade-Ideas Pro application. Produces a performance summary including how many were winners and losers, and the net profit and loss. Let's configure a strategy and, run the OddsMaker and analyze the results. BUT FIRST, if you do not see the OddsMaker panel with the green start button at the bottom of your alert window, you will need to make it visible. right click on the alert window and select Show All Panels. This will open the OddsMaker panel in the minimal view. Go ahead and expand it as necessary. Next, let's create a simple strategy. Right click and select Configure. This opens the Configure Alerts Window. Let's clear our settings and start from scratch. Click the select Alerts tab to define our trigger or triggers. I am going to keep the strategy simple and be alerted anytime a stock is down 3 standard deviations for the day. I will name this window - Down 3 standard deviations - looking for a bounce. In addition to real-time streaming alerts, Trade-Ideas Pro also provides a historical representation of alerts with their respective trigger times. Let's now configure the oddsmaker. Since we are looking for a bounce, we want to make sure UP is selected with a success value of 1 cent. As a protective measure, I am entering a 10 cent stop loss without a profit target. For this demonstration I will initiate my trades only after the first 30 minutes of the trading day with a hold time of 30 minutes. Hit OK to crunch the data. This will conclude our video lesson on the oddsmaker.