CMC Markets Launches First Integrated Pattern Recognition Tool for Australian Traders
By Cmc Markets, PRNESaturday, December 11, 2010
Allows Traders to Scan Variety of Markets and Simplifies Execution
SYDNEY, December 13, 2010 - CMC Markets (www.cmcmarkets.com.au/about) has launched a new
pattern recognition tool to help traders sort data, identify patterns and
execute trades with ease. It is thought to be the first time in Australia
that pattern recognition software has been integrated into an existing
platform rather than using a third party provider.
Pattern recognition (
www.cmcmarkets.com.au/trading-platforms/pattern-recognition) is free
to all clients using CMC Market's desktop and web based CFD platforms. Since
being launched to CMC Markets' existing clients in Australia, almost 40% of
active clients have taken up the tool.
Pattern recognition is one of the most versatile skills that a trader can
have and focuses on finding price patterns and using them to look for
breakouts and momentum shifts across markets and timeframes. It has multiple
applications and can assist clients to work out where to enter, set stop loss
orders and set profit targets. It can be as advanced as complex algorithms or
involve nothing more than a pencil and a ruler.
CMC Market's new software identifies both completed and emerging patterns
over short or medium time frames and ranks the quality of the chart signals
based on technical indicators such as moving averages.
"One of the biggest benefits of the software is it allows traders to scan
a wide variety of markets swiftly and rank them," David Land, CMC Markets
Chief Market Analyst said.
"By integrating it onto our platform, traders who already trade
confidently but are currently using third party applications can now scope
out simple or complex patterns then execute positions with ease," said Mr
Land.
The integrated software can also educate traders who don't currently use
technical analysis as part of their technique, with free video tutorials and
an internally-written software guide.
"CMC Markets has a strong focus on education and it is important to
ensure clients are equipped to use the tools effectively. The key is for
traders to build their experience gradually and spend time learning the basic
rules around pattern recognition," Land said.
Once patterns have been identified, it is then up to the trader to decide
whether to execute the trade. They can take long or short positions based on
chart signals. In periods of volatility where markets appear to be moving
sideways, identifying emerging patterns can assist in generating returns.
The software allows traders to customise the type and number of patterns
that are displayed to identify trades and understand the risks associated
with a position.
"We are providing our clients with a powerful, customisable piece of
software and have made it as easy to use as possible. Pattern recognition is
based on carefully tested methods and is another way to equip traders with
the tools that are crucial for their success," Mr Land concluded.
About CMC Markets
The CMC Markets Group, a leading independent financial services provider,
offers a range of investment products and investment tools including shares
(www.cmcmarkets.com.au/stockbroking), options, listed managed
investments, warrants, interest rate securities and Contracts for Difference
(CFDs) (www.cmcmarkets.com.au/cfd). Through our partnerships we can
also provide access to managed funds and margin lending execution. In 2007
CMC Markets launched its broking service with the acquisition of Andrew West
Stockbroking and CMC Markets Stockbroking (
www.cmcmarkets.com.au/stockbroking) is now one of the only non-bank
aligned, online stockbrokers in Australia.
CMC Markets is a pioneer of CFD trading in Australia and a world leading
CFD provider. With offices in London, Frankfurt, Dublin, Madrid, Vienna,
Sydney, Tokyo, Toronto, Beijing, Auckland, and Singapore, CMC Markets
represents clients in over 70 countries. The company was founded in 1989 and
is regulated by ASIC in Australia. CMC Markets Stockbroking is a participant
of the ASX Group.
For more information please visit www.cmcmarkets.com.au
Contact: Jane Bryant, PR Campaign Manager CMC Markets, +612-8221-2124, j.bryant at cmcmarkets.com
Tags: australia, Cmc Markets, December 13, Sydney