Power of PCs
Louis Mendelsohn was one of those traders in 1977, working full-time as a hospital administrator while trading commodities actively on the side, after cutting his teeth on stocks and options trading since 1971.
“Right after I first saw a demonstration of a personal computer, I realized that this new technology would revolutionize technical analysis and the financial markets forever, not to mention every other sphere of human activity,” Mendelsohn says.
He set out to develop the most powerful commodities trading software that could be programmed, given the state of the art in personal computing power at that time. With his new wife’s support and encouragement, in 1979 Mendelsohn started his own trading software company, Market Technologies, determined to gain a competitive edge over other traders through the use of his own software while making it available to other individual traders getting their first exposure to computerized technical analysis.
Shortly after his first son, Lane, was born in 1980 and despite admonitions from his wife’s father, Mendelsohn left his career as a hospital administrator to devote himself full-time to his passion as a commodities trader and trading software developer. This life-changing decision led to his introduction in 1983 of ProfitTaker Futures Trading Software, the first commercially available strategy back-testing and optimization software for the personal computer in the financial industry.