Software for identifying trades based on a custom risk-reward/risk capital

Hello All.

I have looked through a number of threads on this forum but could not find an answer.

I am looking for a software (desktop/web based) that allows me to set risk/reward ratios per trade and also the amount of capital I am willing to risk as a percentage of my account. I then want it to be able to identify high probability setups from a range of instruments such as Nasdaq 100 stocks, futures, t-bonds, FTSE 100 etc. I want this software to automatically calculate stop losses, entry and exit points for each trade.

Does anyone know of a platform like this?

Thanks,
KK

Try here:
Discover trading systems automatically with APS Automatic Pattern Search trading software

Hope this helps.
Eduardo.

This seems to be more of a pattern search tool pretty much like metastock or tradestation. What i want is for the package to identify tradeable opportunities based on my risk/reward criteria and willingness to lose capital on a single trade. So what i am looking for is a package that will ask me something like 1) the market (e.g. nasdaq 100, FTSE 100 etc.), 2) my account size 3) my risk capital per trade . Then it will automatically suggest high probability trades that provide me with my expected risk/reward in the given market.
From the looks of it this package does just pattern search but does not tell me if a sugegsted trade matches MY risk/reward criteria?

Thanks
KK

I would suggest that you read the articles on the subject in that website; there is also a thread about this on this very forum.
It might be that what you want is bespoke.

Eduardo.

APS Automatic Pattern Search is what you are looking for. It does exactly what you described but you will have to determine your position size based on your risk/reward parameters. Actually, the program has a tool for doing just that.

I suggest you read carefully the articles on that website as ZEPPO suggested. Even if you do not buy a license you will learn a lot from those. This program has transformed my trading life for the better. It is NOT the Holy Grail but it offers a sound quantitative approach to trading and its effectiveness increases with you experience and understanding of its capabilities.

I would start by reading this article:

http://www.tradingpatterns.com/synthesis.pdf

and then this one:

Tradingpatterns.com Michael Harris paper on pattern robustness

I hope this helps.

Alex

Metastock or tradestation are not pattern search tools but pattern backtesting and analysis tools. You need to know patterns first to use those programs. APS finds patterns. I have tried several programs and I found APS to be the faster and most user-friendly.

Risk/reward criteria depend on many things. As long as you have a high probability entry signal and know where to exit with profit or loss, you can adjust your position size to make sure your overall risk does not exceed a given level. I use the percent risk position sizing method as described in detail by Michael Harris in this paper:

http://www.tradingpatterns.com/PositionSizing.pdf

Actually, APS has a tool for calculating position size based on the risk percent method.

try mtpredictor.com