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Interesting answers. Clarifications: - By lose I mean lose it all. Taking losses in a series of trades is as pointed out just part of the business and should lead to profit. - I meant to put bad strategy/lack of strategy up but split it into failure to have a good entry strategy and...

Its a given in the industry that the majority of traders lose. Whether its absolute "I blew $400,000 and I'm out" losing or just the "I can't make this work and I'm closing my account" we get told that 90-95% of new traders will lose and be out of the business in short order. Identifying why...

I'm not sure thats totally true moreagr. I started off with stocks but have found futures much better. I have a simple pullbacks in the trend strategy I turn my pc on I wait until I get a set up, enter, hold, exit End of day I say Ciao to the guys on the board and shut down tws No...

Canslim (and the down version that Mark Boucher had a course on on trading markets) is a valid and effective way of making money. So are many others. The reason I think we get so many opinions is: 1) sometimes a system doesn't suit a given traders underlying beliefs so they can't trade it...

Google: Another legendary contrarian was Humphrey B. Neill whose book “The Art of Contrary Thinking”, published in 1954, helped popularise this strategy for investment. He too observed that “when everyone thinks alike, everyone is likely to be wrong”, and promoted the practice of...

Yes, I agree. That wasn't included because I consider it a given. Both of the approaches to including the missing data avoid adding significant numbers of extra packets or extra data in the same packets. The timeliness of data is very important but the overheads of TCP/IP protocols dwarf...

If you lost nothing, why would you prefer that the data was not more complete? I don't know the answer to that question sorry maxpi. Perhaps IB would answer?

In this thread the way that IB constructs the data for charting programs is described. The downside of this approach is that when each tick is constructed it only includes the last price within the tick period (as low as 1/5th of a second). This means that a prior higher or lower price might...

Two 17" screens, keyboard, rollerballmouse, trade timer (mech kitchen timer) Strategy rules in a clear folder (std ones on front page), paper diary & pencil Something to read if it gets slow

Finance so that you can get a job if the trading doesnt suit you in the end. Take some good statistics and probability courses as they will help you most if you are trying to understand systematic results.

So are Bally-who and Eagle-I the same person? Sounds like someone talking to themselves now that they've been outted. Lets get real here. Here we have some dipstick(s) who think(s) they've found a way to screw everyone else in the market And then they discover that everyone else...

Its more likely to be 0.1-0.2 seconds 1 way delay if you can get a decent internet connection.

Good post Dan, Reminds me of some of my own experiences. The only thing I would add to that is that in the forward testing using paper trading is worthwhile. I know it doesn't bring all the emotions in but its the best way of proving that your strategy works (not hindsight biased) and...

Perhaps you could look at it this way: The fundamentals might give you confidence that a trend should take place but you'd be smart to wait for technical evidence that your view of the market was shared by the other participants. Its surprising how often the technicals have preceded the...

What tradernik says is true. It seems to me that its very common to be unprofitable or sporadically profitable early on. 18 months was quoted to me as a common figure when I started day trading and I think its probably right (although I don't know what you do with the numbers for those who...

I believe that the simulated trading option uses exactly the same data feed as the live account - its just that TWS doesn't pass your orders to the market.

Thanks guys. I feel much better informed. IB, if anything has changed please feel free to expand on the improvement.

Thats what I'd like too dcraig - to understand how it works :) There is (I believe, but do not know) aggregation because IB limits the number of packets it sends out (and hence gets smaller transaction (tick) counts). I'd like to understand it better please IB :)

LOL ... I didn't say it had to be right. I just wanted to quote the view so that IB could explain what they actually do. One thing that was said a few days back that also surprised me was with regard to prices turning up in reverse order (ie a big buy order filled 887 888 and 889 yet the t&s...

I use Sierra Chart with IB TWS providing data and have got into a debate with another trader about how "good" IB data is. I contend that its pretty good although it will miss a price or two. He contends that its pretty bad. To quote: "SC/IB's highs and lows are frequently short of one tick...