Limit orders vs. Stop orders
The reason I gravitated to a break-out system is because although it cant be programmed, it is easily the most mechanical way to trade.
1. You see the formation shaping up
2. You scan the indicators
3. If they pass the test, put the stop order in right away ON A STOP
4. Your are using the DOME, so its all programmed in; no worries there
Why?
1. You can look at other markets
2. You can talk to your children
3. You can turn your head away from the screen
4. Limit orders are counter productive using my method
5. I want a fill and I want it when the B/O is hit
6. I DON'T WANT the market backing up to me-I don't want a better fill, I want a B/O !
7. If you put in a limit order after the fact, what if you miss? Are you going to
chase?
Who needs the aggravation? Heck, you needs the question?
8. If you chase, the market will turn on you...If you don't chase, you will miss the
trade of the week...Just the way it is...
9. If the market changes...a big report is looming...whatever, use the cancel
button...easy, and no second guessing.
Any questions?
Pre-Market
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Blog Archive
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2009
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August
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- I'll have another
- While others are playing---
- Bahh
- just a day
- Part 2
- nice, but too early
- ZN looking good in the early AM
- more testing
- just a post
- morning ritual
- Hmmm
- I have to laugh
- Pre-Open Ideas
- Week beginning Aug 17
- Week beginning Aug 10
- trading
- annoyed at myself
- edgy
- surreal
- late night idea
- I guess it's time
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August
(21)
Monday, November 30, 2009
Let me splain. No, there is too much....Let me sum up. ...
Tuesday, November 17, 2009
I'm Back
It has been more than a little while, but I am back and posting again...I have had more than a few problems but (mostly computer and connection) that's life...
I am on my own for the time being (my own indicators and no trading room), and exploring what I can find out there in the open access world---a few very interesting items and a ton of interesting ideas...
There are so many things out there, I wonder how many people trade and make money versus just trade here and there and discover new stuff?
It's OK either way, it just depends on ones true motivation...
Its not always that clear---and sometimes we, ourselves don't know...
I have a dear friend---he and I used to play poker quite a bit, sometimes at the same table. He was grousing about some of the players at the table one day, and I mentioned that we were all there for different reasons. He very adamantly stated he was there to make some money and nothing else...
If you watched him, nothing could be further from the truth...He was there socially, he was there to have fun...he was there to show off his verbal skills...he loved to be funny...he loved to be loved (even though he would kill me if he ever read this)...he was also a good solid player and hated to lose...
Now, this friend is one of the smartest people I have ever known, and if he is that clueless about a silly poker game, all us traders better be darn sure why we are playing THIS game.
Anyone reading this is a victim of some rambling thoughts...Trade well
Wednesday, September 30, 2009
this is sick---
I had a great day today, but to miss this ...well...it's annoying, but I can only look at so many markets at a time...
I like a time window on crude...seems (so far) to work better than any range I have seen to date.
Once you had the break, you really had no choice but to make about 120 points...
There are lots of false break outs in CL but wow---what a day today...
The First of the Day
One had a choice here...I waited for the break below the previous plot cycle (the red line) but you can see the yellow arrow gave a signal on a close below all 3 lines...either one resulted in NO PAIN and very little drawdown either way...hard to believe one contact took 4 ticks, but the choppy days, that one point can put a smile on your face...anyway---4 and 24 on this little move...nice start!
and can Amy discern how that 24 was figured?
Friday, September 25, 2009
Im not done---but Im hot and tired
There are always "contrarians" who THINK they are contrarians... ---I think this chart gets you thinking...This chart clearly suggests getting long was to get long when this chart broke 60 ish...My daily charts liked the creak out in mar/April... BUT truly diabolical thinking gets you thinking long in the last chart while P/E retros were breaking out above 60 ish... If you were a top picker, one might be out about NOW!
Sunday, September 20, 2009
This has Nothing To Do
With my day trading decisions...
but from a longer term perspective, you might think twice about " the recession is over" party line...
Friday, September 18, 2009
Thursday, September 17, 2009
It's Refreshing !
I actually went out of my way today, and called (or IM'd) everyone I know to get the hell out of any long equity positions...
The way you have to look at any investment is---RISK...
Let us pretend I'm full of "stuff" and dead wrong in my long term scenario...does that mean the market will continue it's manic pace to the upside? I don't think so...
It's more fun than I thought to NOT straddle the fence...
SELL, SELL
Wednesday, September 16, 2009
I Like This
Even though I typically loathe newsletters---this is a promo I received from "the boys" that was a dead on classic---
time to pay attention---
It's unanimous: The bear market is over, and a new bull market is back!
At least that's the conventional wisdom of the top 55 U.S. economists, who predict that the economy will grow in the fourth quarter through the first half of 2010. (All but one of them expect growth this quarter.)
Rewind to February-March of this year ...
... When those same economists reported that the economy was in "the worst recession since the Great Depression."
That's also precisely when stocks and commodities rallied.
Now, six months later, even the Fed chairman has declared the worst is over.
What's changed?
In a word: psychology.
The natural flow of investor psychology has traced out a recognizable pattern. As optimism builds, so does the perception of a recovery. It's to be expected -- even predictable. After all, the simple truth is that investors, advisors and analysts alike herd. Positive price action -- in their minds -- begets other positive action. It's all-too similar to the optimism we observed in late 2007, when various markets stood at or near their all-time highs.
But today not even the so-called fundamentals support the notion of a recovery:
- Large pockets of the U.S. real estate market, including metro Atlanta, are still racking up record monthly foreclosures.
- The global shipping industry has slowed to a crawl; thousands of ships around the world sit empty and idle.
- Bank credit and the M3 money supply have been contracting at rates comparable to the onset of the Great Depression.
- And believe it or not, reports are surfacing of lending institutions returning to their old tricks from two years ago.
Friday, September 11, 2009
Thursday, September 10, 2009
Thursday Comments
That 1035 high "prediction" looks ok if you like getting up at 1 AM or so to trade!! In any case, the market did indeed break-out as expected and trended higher in a reasonable fashion. The note (ZN) market was good to me today, but it was all SIM trades again as I'm still fighting with computers...The gold market looks like it wants to challenge 1025 and get every last laggard of a gold bug to buy at the top; its gonna hurt when they get their dick slammed in the door on that one!
I feel like I have gone NOWHERE and done nothing for 2 weeks...One computer issue after another...Very annoying...
I downloaded a new version of Ninja, cleaned up the instrument manager and a few other tweaks; so far this afternoon it's all working perfectly using the E signal data and IB as a back up. Fingers are crossed for tomorrow morning!
I ordered an external HD today as I want to back everything up and re format the HD. I need an end to the 3 minute boot up process (which feels like 3 hours!)
I am re reading Trading in the Zone...It all makes sense but a much tougher read than a couple others...
Hard to believe the week is gone already...
Thurs AM ZN
I wrote above---a 3 tick max, when it was in fact a 3 POINT max...it has a better sound to it!
Tuesday, September 8, 2009
For Tomorrow
Even though today was pretty good, the fact remains that the market was rangebound between 1020 and 1025. I am expecting some sort of break-out very soon. It seems like a rally early makes sense and it sure as heck looks like a given that 1027 gets hit. Sell signals after that? It sure would be fun to catch a trending day!!
numbers: 1019 on the downside is all I have that's close...upside is anywhere between 1025 and 1035
Tired
The last 10 days or so have been wearing...Hardware issues, software issues and Ninja again this morning. I THINK I have everything in order, but the next couple days should tell the story. I must say that Ninja support (although all E mail) is really on the ball. I'm also going to order a back up hard drive---I have been reading too many horror stories lately and for a hundred bucks for a one terabyte WD, seems like a no-brainer. Other frustrations abound, but not a thing I can do about it,so I will be trading around it for awhile.
I suppose the time off from trading has been helpful in a certain sense as my overall trading pattern has evolved yet again and looks better all the time. I was bogged down all day today with bullshit, and never really looked hard at a chart till recently...for a low volume day, it doesn't get much better than this...
Not Much on This One
Only had 2 1/2 ticks in it, but only a 2 tick DD as well...no reason not to break even here...
Monday, August 31, 2009
I'll have another
The wheat chart (below) was pretty cute, but the Euro wasn't too shabby...
While others are playing---
It was clearly a terrible day to trade ( in THE ES!!)...Just a reminder to my friends out there that are many ways to skin that cat...
Sunday, August 30, 2009
Bahh
It was a lost few days...software problems, hardware problems...overslept one day also, all of which was annoying, but at least I was smart enough to SIM trade only.
It wasn't all bad though, as I saw a couple of improvements (filters?) that look to be helpful. It will cut down on the number of entries, but at the same time I think it will reduce on the "judgement calls"...This adjustment is suited for a NEW entry, (usually in a new direction)...trade entries AFTER this initial signal are still subject to my older ideas)
I may move to slightly quicker 2584 vol chart...I have tried to use two charts (one for a longer term filter) but so far this causes more trouble than it's worth)
Possible New Rule
(an example of a buy signal)
Price is UNDER all three
---allas av
---vwap
---cycle MA (another possible filter-HAS to be green to trade long)
buy on a stop-one tick above AA
a 6 or 7 tick stop looks ok for now---more fine tuning to come
edit: When all these levels meet, this point of equilibrium may last awhile and be in chop---it will break out!!
edit: Must ignore my RSI on these entries---always going to be OB/OS---only use for re-entry sigs
edit: IF both the VWAP and the CMA are crossing each other AT THE PRICE, and pointed up it could be a good entry
It looks like even on Friday (which was horribly choppy and thin), taking every signal would have produced a small gain...more testing as always...
Tuesday, August 25, 2009
just a day
I had some computer issues today, so no trades...I think it would have been an OK day-nothing earth shaking...I didn't seem to be too bothered with the problems...I was a little tired though as I have been spending too many hours in front of the screen lately. Anyway, I'm all fixed up after I had to remember the various stop strategies with Ninja...
It did feel good to just relax for a day...And now I'm gonna push away from the desk and call it a day...14 hours is plenty I guess...
Part 2
Interesting...I didn't see it till later, but a very similar break out as earlier this AM and not one tick of drawdown on either one...
Monday, August 24, 2009
more testing
I sent this off to a buddy a little while ago for more testing---I dont think I have time to mess with it, but it looks interesting...
Sunday, August 23, 2009
just a post
I probably should have taken the day off, but I'm not sure what to do if I don't golf...
The Kwik pop idea was ok...But basically it's just a visual for buying higher highs and selling lower lows...It's not all bad since that very idea led me to my current trading idea...A long weekend with not much to show for it, but I did learn a little...
morning ritual
I'm not terrible, just a little scattered in the mornings; so I see the need to write myself a little list/routine which I will have on this here journal...I will add to this a little at a time, but it shouldn't be a big challenge...All I know is nothing happens too fast around here at 4 30 AM!!
Visual of my morning
---turn on machines
---If I didn't make coffee first, I would perish!
---feed the pup,cats
---sounds funny, but wipe down the desk area...dusty as hell in here
---check trades from previous day
---order entry (dome ready)
---scan overnight markets
---ck E-mails
---by now 2 cups are in me--treadmill time...about 5 mins of as fast as I can go-sure as hell gets the blood moving ( I try this every 90 mins or so)
---make sure charts are set up and accurate
---wave count? pivots
---read trading notes from previous evening
---ck 10 yr Notes
---morning reading (blog list)
---by now its about 6 or 6 15
---open the room
---ck for TVGR at 6 30 dammit!
---and off we go
Saturday, August 22, 2009
Hmmm
Do my eyes deceive me? Or do I see a pattern with a Kwik Pop indicator that looks really juicy the last couple of days...I'll explore more tomorrow...I have been here all day...tired...
I have to laugh
I have made a few references as to my regard for Dr. Bretts book---
The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist
After a very quick read, then a slower one, I am now on the chapter by chapter thing and REALLY giving some deep thought to it all...I learn more every read...
The funny part...I was on Amazon and came upon the book again...I dunno, maybe they wanted a review or something...Anyway, my latest favorite book had a ONE STAR review...I was intrigued...So I read this guys comments...the crux of what he wrote is---
But upon reading it, I realized it's about training yourself to be a coach for yourself??
Fer chrissakes, look at the title!!
LOL...Im glad this fukker isn't in our trading room!!
Pre-Open Ideas
I was trying to come up with something that looked feasible to trade before the $SPX opened, so needless to say I started looking at the 10yr Notes. All I have done so far is take the cycle high and low from about 3:30 AM to 5:00 AM, draw horizontal lines and look to trade the break-out.
It looks like most mornings get tied up in a very narrow channel, and "appear" to be waiting for something to happen. This is actually a strange idea for me because of the number of reports coming out between 5:30 and 7:00, but (so far) seems worth looking into. I have never felt comfortable trading right in front of, or during the morning reports, but there may be something to this. Just because I was bothered by the report idea doesn't mean there isn't something there!
The following 2 posts show the last 2 weeks of 2 minute ZN charts during the most likely trading times. Clearly a work in progress at this point.
Friday, August 21, 2009
trading
I haven't written much about real time actual trades...my "money method" appears to be doing well...for sure the markets are choppier than usual (August blues!) but doing pretty well...
I have made money...
Still having the same problem in pulling the trigger...trying not to beat myself up over it...visualizing dispassionately taking each trade
I am better than I used to be...
annoyed at myself
I have done this before and it's annoying as hell...today was a TVGR open and I DID NOT see it till much later in the day...
I keep forgetting to check for it on the open...it didn't cost me any money, but it's still inexcusable...damn!!
Thursday, August 20, 2009
edgy
really edgy today...
have no idea why...
slept well ate well...
for a calm guy, pretty nervous...
Wednesday, August 19, 2009
surreal
It has always been a contradiction...always...
I am very private. to the point of selfishness...I always had this tendency but seems more prevalent now...I don't see it as a problem, just the way it is.
So why is it that I kinda like teaching? Ego has to be part of it, but I do admit there is some satisfaction there...
In one of the chapters, Steenbarger writes about helping others, being a mentor, blah blah...Not my everyday cup of tea, but in for a penny, in for a pound...
Anyway, I guess I am a mentor now...I offered to help someone from the room...We have exchanged a few E mails...She seems pretty sharp so we will see...
Monday, August 17, 2009
late night idea
note to self---getting late---dont forget the RSI in conjunction with the channels...looks golden for good fills
Read More »»Sunday, August 2, 2009
I guess it's time
It's always the same...A new idea, dreams of success, the fear of failure, all that shit...
Nervous as hell, but it's time to get the feet wet and go live, even if it's half size stuff...
the fear isn't logical, but its still there...all the books in the world don't change that!!
Friday, July 31, 2009
Wave 59
I am trying a new idea...It's a trial to Wave 59...It's an OK piece of software with lots of astrological stuff connected to it...Now I wouldnt give anyone a nickel for my horoscope but maybe there is something here...
But after looking, its an extremely steep learning curve, so I will let this one go..maybe there is something to it, but certainly not for me, and clearly not better than what I am working on now.
irritated
I wanted to go back at re test some earlier testing...I had BLANKS in some days...WHY? lazy? denial? and now I don't have historical data that goes back that far (volume charts)...inexcusable
Wednesday, July 22, 2009
more reading
I just finished "The Way of the Warrior Trader" by Richard McCall...
It was a pretty good book, well worth my time, so I will go back and read it again. I will take some notes next time...Even though the title would tell you about the frame of reference, I did find myself skipping over some of samurai parts...
Sunday, July 12, 2009
hardware
I would love to build a hot rod computer, but that will have to wait...I want to have it EXCLUSIVELY for trading, no E mail, nothing but charts and trading stuff.
In the mean time, I do find the need to look at more stuff at the same time, so I am splurging-no-investing in a new toy...It's a new 24 inch monitor...very sweet...and it only took me an hour to set up the dual monitor deal-pretty painless overall.
Might sound strange but now I want another 21 inch for the other side...I don't really need it, but I feel out of balance the way it is set up right now.
Friday, July 10, 2009
Ninja
I tried, but I can't get around it. I have to buy Ninjatrader. The trading dome is the most amazing thing I have ever seen, and even if it wasn't, I need it to trade what is becoming "my system". The automatic order entry, the auto stop and cancels, OCO etc are now a huge part of my research, so Ninja gets a grand pretty soon. Having said all that, I am a little shocked you can buy the damn thing for only $1000...
Tuesday, June 30, 2009
me time
---as always, doing some more testing on other ideas...I swear daily charts are a pain in the ass to build something I can live with...When I find a combination that gives 65% winners with no worse than a 25% drawdown in the Wheat market, THAT will be the grail!! Of course I can always have a lower drawdown as long as my account is huge---position sizing, remember?
---visualizing taking my trades
---visualizing getting stopped out
---reading Dr. Brett...That Trading Coach book is pretty damn cool...I never spent much time with all this self coaching, but no stone goes unturned this time around. Become Your Own Trading Coach is the official name...If anyone ever does stumble over here go here...
I'm blasting through it at the moment, then I'll read it slower next time, then go chapter by chapter.
---The room keeps me amused at times, but I am turning it lower and lower...It's hard to believe a guy who trades for a living gets so excited when he gets a runner...maybe it's for the attendees...I have been through a couple of cycles of people (always some stalwarts) in the room and it's always interesting to measure whether or not they have a chance...rather judgemental of me since I haven't proved jack shit, but it is interesting! It's not the ignorance, but the TYPE of question that gives it away...lots of people still want it given to them-course they are hopeless...A few others are pretty sharp...some ask too many curiosity questions---most of which you can google---I think they might be OK, but need to focus...I would read all day if I could, but once the bell rings all that stuff goes out the window...Give me a signal!!
Which reminds me...I have learned something valuable there in the room...Bill LOVES to get a signal...Of course you need a signal to make money, but I often viewed it with trepidation...Learning good stuff...Signals are good!!
Saturday, June 27, 2009
still looks good
I'm taking a week off from even looking at the "money program"...I want to come back fresh and look at it with a SUPER critical eye. Computerized testing of mechanical systems is so cool; no judgement no emotion, basically no human needed. My little pot of gold need a human touch...So before I go falling in love, I want to bring in a grizzled old eunuch to make sure I'm not being blind!
Monday, June 22, 2009
Nahh---It Couldn't Be
It took a couple days to write this...makes me nervous...I am writing this very guardedly...I don't believe in miracles and I'm not comfortable being giddy...
high winning %---check
low drawdown---check
fairly active---check
system---nope (not programmable)
mechanical---kinda
robust---check (so far)
wow...
Kinda funny really, after all these years, it's a couple of lines meeting another line? Bizarre...If it works, it's certainly one of life's little quirks!
In my testing, other than being a complete idiot, the biggest mistake you can make is NOT taking a trade. I find that rather ironic since pulling the trigger is my biggest weakness. As always, I tried to test under less than optimum circumstances and passed comfortably...Hell---if it's half as good as what it looks like, it is still tradeable, even for me. The super low drawdowns are so cool...I have seen some losses in chop, but very manageable and usually not more than 3 in a row...I'm looking for filters now...
Monday, June 15, 2009
more reading
Ever since I signed up with EOT, I have been spending evening going over every single post in the Tradestation forum...There are over 60 pages...
Friday, June 5, 2009
Current Events
I'm on with EOT...I'm on with E Signal...
The main reason for ESignal is to try to match Bill's trades in the room. I have RT data from IB, but the volume numbers are worthless. After all that, I don't see how its possible to take identical trades as he does. He basically uses market orders (buys the offer for example) but I see no way I could get those same fills. If you are going for just 4 ticks, the fill is the trade! Maybe he is on a super fast cable and Clearwire is holding me back...I have heard the same from others in the room, so I'm not the only one. You see the trading dome so I have to assume its all real...
The better news is I have already found some valuable tools in my EOT box of goodies! Found one that looks really cool and a couple more "maybes"...more testing is needed obviously. Good times...
Tuesday, June 2, 2009
Elmer Fudd
My million dollar paper trading account-affectionately known as "The Elmer Fudd Hedge Fund" has been doing quite well. I haven't written about it here much as I wanted to concentrate on REAL futures trading . But it is fun to write down strange and unusual ideas. I had a a gold/silver ratio spread that did real well but the most obscure is the following...
Awhile back I had read that HRP was a standout in the REIT world in that they were very well managed and didn't make the billion dollar mistakes the others did. Now you don't have to be a genius to know the CRE sector is in the dumpster, so as a good paper trader would do, I pretended I had an analyst to confirm that HRP was indeed a front runner in that sector. I then bought 20K of HRP and simultaneously shorted 20K of VNQ (a REIT ETF). It worked like a dream! A fundamental idea and using my techs---fun stuff!!
Monday, June 1, 2009
more EOT
It can't be all smoke and mirrors can it? The room guy (Bill) makes money about 70% of his trades...lots of small scalps and a runner...trades 3/1 with a 4 tick target for 3...I have never really thought of scalping like that, but what the hell...his weekly and monthly P/L look impressive...the programmer is a brain trust who I enjoy listening to...he has given me a few ideas that I wrote down...the owner (I guess) sounds like a cross between an airplane pilot and a cowboy...been around longer than me!
I guess my only reservation is he can't literally call out trades (NFA shit-I UNDERSTAND), but he sure gets some good fills when I put the pieces together. They aren't outlandish, and all are possible, just good fills...But...
I'm spending more money...
Wednesday, May 27, 2009
A Quiet Update
Lots of reading...lots of testing...
I found something mildly interesting the other day. A guy is selling a long-term trading system, (using weekly charts of all things) tested back to 1970 (when possible). I had him take "my" 5 commodities and back test just those 5 and it came back a winner. The drawdown was too much and the break even period was excessive. I am still interested though because it could be a valuable adjunct to my future plans. I need a bunch more money to make that happen though, so it will be awhile. The cool thing about this one is that it's completely disclosed when you buy it, so it's not some BS black box shyster program. Long term trading is not my style, but think it could fit as a part of a diversified trading portfolio.
The other room has been interesting...The guy is amusing (usually) and seems to trade real time right there...I have to admit I have never seen that before...It would be nice if its not a bunch of bullshit...I'm sure I will find out soon.
Wednesday, May 20, 2009
rooms
While I play around with kwikpop, there is another room am listening to...EOT pro...I never heard them but at least they are trading and using their own stuff...we will see...free trial (for the room) so far...
I found a cross over method that looks ok, but for me the drawdowns would be bothersome.
Tuesday, May 19, 2009
Kwik Pop
I'm really irritated now...I signed up for their trading room and I find some guy throwing out trades every one in awhile and not even using the indicators!!
I am often reminded that there are VERY damn few people in this business who actually can make money trading. My friend went to a seminar not too long ago in Chicago...spent some time on the exchanges etc...was surrounded my millions of people supporting the financial business and realized not one in a ten thousand were able to trade successfully. Some folks like to say how cheap it is to have your own trading business, but of course they are full of shit. By the time you add up broker fees, data feeds, hardware, software, and maybe office space. It adds up to a pretty good number, and it never goes away. Always good to remember that individually these folks aren't the culprits, but collectively they are there like piranha in the Amazon river, just waiting for a small bite, and sooner or later there is no meat on the bone.
Wednesday, May 13, 2009
meh
Well hell...I know its only been a couple of days, but Kwik Pop has failed to impress so far. They are different, but have a common theme (to me) in that they are like a bunch of other stuff that's available.--I'm always pretty quick to judge, so I will be patient and see what happens. In a library of 35+ (or is it 50?0 I'm sure I can find something.
Thursday, May 7, 2009
Spending Money
It kills me to spend money, but I also know I cant figure this stuff out all by myself. I admire those guys that spent hours hunched over computer code to write new indicators and systems. I just wasn't that smart!
It used to be all the systems were priced at 3000...these days it looks like leasing at 233 a month is the popular ticket.
Anyway, I signed up with Kwik-Pop, downloaded their library of indicators, and will see what I find.
Wednesday, May 6, 2009
Amazing Free Stuff
When I was most active in the markets, there was only one piece programmable software that was usable, and that was Tradestation. I just downloaded Ninjatrader for free, and you can color me amazed! I know Ninja isn't brand new, but it is to me. Simply an incredible piece of software and if I don't trade through it, its free...A great new tool...
Tuesday, May 5, 2009
Baby Steps
You can't trade without a broker, so after a bit of looking around, Interactive Brokers has my money. I wish I could send more, but it is what it is.
---LOW commissions (although all are cheap these days)
---I can trade ANYTHING through these people
---almost free real time quotes for most markets
---free historical data for the past year
---OCO orders are held on THEIR servers (the only one I found)
---was all done online...no humans involved ( I do have emergency toll free #s)
Of course, I have had an account elsewhere for years, but this is a makeover! I also opened (but did not fund) a back-up brokerage account with Tradestation. As time goes on, I will be depositing some cash with TS for emergency use (if IB goes down or?)
I haven't even made a trade yet, but I feel better already!
Monday, April 27, 2009
Takes too long, let me sum up...
After 25 years in the markets, one would have a legitimate question asking --- why success now? and why is it different this time?
As someone who mostly believes it is NEVER different this time, it's a damn good question.
The main reason is that the passion is back in full force. Motivation is also part of the answer, as other parts of life are shall we say, challenging. Although I continue to be computer challenged, the research and testing is a million times easier than it was the last time I worked on this idea. I have looked, tested, and purchased and endless array of products including books, software, systems, promises and hot air. It is a combination of a bit of age, tons of experience and a healthier and more energetic outlook that promises to make the search worthwhile and fulfilling.
I have been lucky in that I have rarely been afflicted by the usual reasons for failure. The litany of these reasons are common to all...emotional trading, chasing losses, trying to get even, overtrading, lack of discipline and on it goes.
I am most certainly not impervious to these foibles, but I do believe the reason lies in never having found a good enough trading method, or if I did, it did not fit either my personality or the bankroll. Is that head-in-the-sand thinking? Am I in denial? I don't think so...And since nobody is reading this , and nobody who knows me ever will, it seems a bit silly to lie to yourself on paper.
So---I have been looking at a million different indicators, visiting trading rooms and making an exhaustive look at what's out there. This is basically an all day project, 6 days a week all day. I have my burn-out moments, but they don't last too long, and I'm back on the horse the next day.
Wednesday, April 22, 2009
And So It Begins
I felt it a few months ago...It was an almost unconscious feeling, an awareness of things different. It's more than a bit difficult to describe but the bottom line is I had woken up and the passion had returned. It was time to get to work!!
I have been active in the markets in various way for the past 25 years. I have made some money, lost some money and at times thought I was a pretty good trader. Unfortunately trading reality always finds your weakness, and of course that reality found me without too much trouble, and more than a couple of times.
I can see my vision...
The journey starts now...
My Blog List
About Me
- marketmania
- Just tryin' to make a living...
My Tool Box
- E Signal Data
- EOT Pro (great but have moved on)
- Ninjatrader
- InteractiveBrokers