By David Adams
There are a wide variety of software programs available to assist e-mini traders in their trading endeavors. Some are quite helpful, others less so. Today I intend to discuss a popular program called Decision Bar. This program is multi-featured and can provide a number of trading signals for e-mini traders to utilize. Like all programs, some of the features are very helpful, and others are less effective.
My trading style relies heavily upon plotting support and resistance. I am a little embarrassed saying that there was a time in my life (which my children referred to as the olden days) when support and resistance lines were transcribed to hand-drawn charts, which was a time-consuming and tedious chore. Additionally, it was once believed that support and resistance were static lines that remained in place throughout the course of the trading session. Modern-day support and resistance theory relative to e-mini training has adjusted to a concept based on dynamic support and resistance. In short, this means that both support and resistance adjust to differing levels throughout the course of the day. This has been a great asset for support and resistance traders, and provides e-mini traders with an up to date picture of likely movement between support and resistance.
For reasons outlined in the above paragraph, I have found Decision Bar a useful and profitable tool in my trading arsenal. The program plots past support and resistance lines along with present dynamic support and resistance. This feature allows you to effortlessly keep track of past and present lines without the tedium of manually inserting the lines. For any e-mini trader, this greatly reduces the trader’s active workload and allows him or her to concentrate on developing setups and exit strategies. In short, I have found this feature of Decision Bar invaluable in my trading.
On the other hand, Decision Bar provides buy and sell recommendations which I am less likely to utilize. This is not to say that of the recommendations are inaccurate, but I feel more comfortable with my own chart reading and trade initiation than the recommendations generated by Decision Bar. This program also has a very effective program to recommend stops, and I find this feature most helpful. As you may have already noticed, I am more interested in the raw data (in the form of old support/resistance and dynamic resistance) than the specific buy and sell signals generated by the program.
In summary, Decision Bar has some very effective strengths which I value; but it also has some features that I feel are less helpful than these support/resistance and dynamic resistance readings generated by the program. I can say that this program has been an asset to my trading and I have been a long-time subscriber. If you are looking for specific buy/sell signals in your e-mini trading, this program may not suit you. On the other hand, if you need very accurate support/resistance information, I have found no program the equal of Decision Bar.
About the Author
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