One of the most powerful features to come out of eSignal 11 is the ability to put studies into a Watch List. So we collected a large number of our studies and formulas that were previously presented in charts and condensed their appearance in four cells for each instrument.
By entering all the instruments you are interested to trade into one Watch List and being able to sort them with respect to three fields, with a frequency as brief as a few seconds, you have an excellent picking and trading system. The instruments entered can be almost anything that moves. For example stocks, like the components of the S&P100 and Nasdaq100 indices which we use as an example, ETFs, futures, forex, oil, gold, commodities etc can all be entered in one Watch List with our Universal Watch List (UWL) add-on and you will see auto selected the ones that have higher possibility of success in trading them whether long or short.
In addition UWL can be entered in many Watch Lists with the same instruments but different time frames, like minutes, hours, days, weeks or even months and provide you with a full spectrum of their activity .
The trading methodology with UWL is based on multiple entry levels, when entries are profitable, at various prices and different instances, with the first trading signal being the strongest and the following used to add to an existing position. If you prefer to trade with just one entry per trend period then you simply follow the first signal.
Your normal trade management should be used, setting your stops and profit levels, depending on the instrument. The system exits all positions at once when an opposite direction signal is produced. You will find details in the pages underneath this one.