Most people begin with discretionary trading methods but soon find they lack the discipline to wait for the appropriate trade setup. They tend to take profits too soon and losses too late. Eventually, thoughts turn to using a trading system, but which one?

I have been a fan and an admirer of your work for many years and, in fact our SmartStops exit logic contains an idea or two I learned from you. . . I do not view us as competitors but rather think of us as allies in a battle against ignorance and the unacceptable risks of buy and hold. I find your Invivo Stops to be both effective and intelligently designed.

Chuck LeBeau
December 11, 2008

Do you go for the one with the “great backtest”, the wild performance claim or the carefully selected example? Isn’t that like buying a car without knowing the specs?

Here’s the Deal

Ask the salesman how much leverage was used to obtain the results? Does the trading system allow you to specify the amount of margin used? If you don’t know why this issue is important, I guarantee that you will become a statistic. Fast.

Is knowing only the zero-to-60 speed enough to put your hard-earned money on the line? Can you really trust a black box that you know absolutely nothing about other than what the glossy promotional literature promises? Don’t fall for it.

BYOBB Trading Club for TradeStation Users

If you are interested in directional trading, read Own The Zone first. It’s free.

Next, if you are in position (have time and some money) to be a SERIOUS HOBBYIST and want focus on rule-based trading, join The BYOBB (Build Your Own Black Box) Trading Club for TradeStation Enthusiasts.


Dues are $150 PER QUARTER, billed automatically, and includes site-wide premium membership. If you are already a premium member of InVivoAnalytics, please CONTACT US so that we can arrange a prorated refund of your current membership fee. You can cancel your membership at any time by coming back to this page and CLICKING ON THIS LINK.

You are responsible for all fees associated with the TradeStation platform.

Last, but not least, if you are new to TradeStation, be sure to visit the TradeStation website and familiarize yourself with how to use the software. Be prepared to watch the market and practice trading (paper or simulation) until it becomes second nature. If you are not fluent in writing EasyLanguage code, expect to hire our programmer for a hour here and there. We have learned so much from Sean.

This is What You Get

If you are interested in trading futures (e-mini index, currency, etc., but NOT Forex) or stocks on an INTRADAY basis, we can help. If you are position trading stocks from daily charts, please use our InVivo.Analytics.

So long as you are a member of the trading club, you will have access to reference material I have gathered over the years. Issues that must be addressed by any directional trading system are discussed in a series of articles. EasyLanguage code and functions are shared as necessary. Questions from members are answered promptly in the usual Q&A format.

And of course, to get members started, Prologue for TradeStation 8.5 (and higher) is included on a LEASE basis, renewed annually with club membership:

Prologue \Pro”logue\, n.
Middle English prolog, from Anglo-French prologue, from Latin prologus preface to a play, from Greek prologos part of a Greek play preceding the entry of the chorus, from pro- before + legein to speak. 14th century.

  1. The preface or introduction to a discourse, poem, or performance; as, the prologue of Chaucer’s “Canterbury Tales;” esp., a discourse or poem spoken before a dramatic performance.
  2. One who delivers a prologue. [R.] –Shak.
  3. To introduce with a formal preface, or prologue.

Prologue for TradeStation 8.5 and Higher

Prologue for TradeStation 8.5 (and higher) includes a complete trading system and a number of analytics:

  1. _Prologue.Strategy (strategy)
  2. _Prologue.PaintBar (paint bar)
  3. _Prologue.Stops (indicator)
  4. _Prologue.Scanner (for RadarScreen)
  5. _Prologue.Range (%) (indicator)
  6. _Prologue.SwingLines (indicator)

Also included are functions and sample strategy code for those interested in building their own trading systems and custom indicators:

  1. _InVivo.LongExit (function)
  2. _InVivo.ShortExit (function)
  3. _InVivo.LongStop (sample strategy)
  4. _InVivo.ShortStop (sample strategy)
  5. IsNewUpswing (function)
  6. IsNewDownswing (function)

With Prologue for TradeStation, you have the option of using my “best odds” afternoon system for trading stock index futures. But don’t take my word for it. You can explore, back test various settings (leverage, trend filter, time filter, tick/range vs. time charts) and verify the results for yourself without any additional programming.

Even better, you can use the functions and sample code as building blocks to build your own black box.

Use the new trade simulator to gain experience — without risking a cent of your capital. The worst thing that can happen is you will discover you are using too much leverage or an inappropriate strategy — in that case, we will have saved you thousands of dollars and years of frustration.

I will share my take on trading with you, one that was formed over a period of twenty years. You can learn what I know and use Prologue for TradeStation as is or use the functions to create your own custom strategy. I hope you will go on to be very successful in your trading endeavors and help me write the epilogue to this page. Cheers!

Why TradeStation?

We are not associated with TradeStation in any way and receive NO compensation or PR of any kind. Prologue is made for TradeStation because this is the platform that we personally use.