Stocks & Commodities V. 23:7 (66-67): Product Review: STOPS by Dennis D. Peterson
Performing money management, seeing your performance before you actually place a trade, and papertrading are features you will find in STOPS, a product by Numasoft, Inc. Money management is about keeping track of your trades against a background of risk and reward, and as a plus, STOPS provides an evaluation of your trading performance.
To get STOPS going, you will have to prime the pump a bit. If you haven’t thought much about money management, this product will likely get you going. However, it is not a tutorial per se about money management. The developer of the product, Dennis Blaisdell, is ready to provide any assistance you need, and with any luck, with a few questions answered you will be off and running. For its current price of $95
(through 2005) and a lifetime of free updates, this is a good deal.
STOPS will give you alerts when certain risk or exit conditions have been met. For the software to do this, you must provide some setup data: (1) your open positions, and (2) your initial account cash position. Once you have completed the setup, the software will generate the alerts when you give it the most recent daily data. You do this by extracting the data (four formats are supported). To extract, simply enter the symbol to the securities window using “Add” from the main menu. before you actually place a trade, and papertrading are features you will