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UPDATE: BOT +1 MCD 100 JAN 10 60 PUT @2.85 CBOE, MCD MARK 59.06 Other shorts invalid now....TCK spreads were $0.20 when it triggered, so I passed. Too bad. NOK closing below 12.98 will mean I reverse.

SETUPS: 10-27-2009 Mistake in previous post with PWM. Meant to say PWE, but that is discarded because I have 4 setups in my list already. Nice setup, though. HOLDING LONG:NOK SHORT: WMB, KFT. Expect NOK probably will get knocked out and set up to reverse tomorrow.

Watchlist (10/27/2009) LONG: UNP, OVTI (doesn't meet volume spec, but I'm watching anyway) SHORT: VALE, COF, TCK, PWM, MCD (setup still valid from yesterday) Setup triggers later tonight.

Actually, it's not a 1ATR move that signals the reversal, it's a close outside of my defined boundary (where I consider my trade to be invalidated). Typically those seem to happen within a 1ATR range.

Update: 10/26/2009 XOM, MCD, and TRV all failed to trigger. PORTFOLIO LONG: NOK SHORT: WMB, KFT (added to WMB today)

It actually has made it much more relaxing to trade, actually, since I have defined my risk for even a full 2ATR move. It's really just there as insurance in the case of a huge gap, but since I trade near the money options, the option delta also insulates me somewhat as well. Ideally, my...

Well, since this thread seems a bit out of place (as well as a bit light in content), I think I will investigate the software packages mentioned, terminate this thread, and open up a new one in the Gray-Box forum. Peace out.

TRADE UPDATE WMB moving my way. BOT +1 WMB 100 JAN 10 20 PUT @2.05 ISE, WMB MARK 18.95

Yep, it's sometimes a REAL pain to keep up with IB, although now that they've actually decided to try documenting things for a change it's not as bad as it was. But for a long time, they were of the mindset: "Here's our change, deal with it" Kind of funny, when you think about it, since TWS is...

Haha...I only wish I was clever enough to reverse engineer somebody's winning system from their comment (childlike voice filled with wonder) "I like the DOM because I can place orders with the click of a button!" But thanks for the benefit of the doubt! :) Thanks for the OpenECry...

Yeah, I know most people would tell me to just pay the damn money and use an existing system, but I've got that "do-it-yourself" attitude and it's a platform to teach me C# and Windows software development (engineering background). Also, I use IB as my broker and I like the executions/fees...

I've noticed that I tend to have problems sticking in my trades, so I decided to try a volatility-based stop. Since I read Tharp's book and also some stuff on the Turtle system, and without any compelling data to choose some odd multiple, 2*ATR seemed like a good starting point. I use 2*ATR...

Just noticed that TCB spreads are wider than I allow (Bid/Ask > $0.10), so we'll scratch that setup. No longs on the books for Monday.

Many deep discounts allow you to open an account with $2k or so. Take the remainder and stick it in CDs or Bonds where you won't touch it. Avoid penny stocks like a diseased hooker. Obviously, finding someone to teach you the ropes is great, but unless you know somebody who does it, how will...

You should stay in school, get an education and study the markets on the side. College gives you ample time for the markets (I used to get up for the open and watch until my first class at 10am). People pay $30k-$100k for a first class education, so that $10k will most likely end up being part...

I'm writing my own trading software and rather than signing up for oodles of demo accounts and sifting through them, I thought I'd ask what features actual traders love/hate about their platforms (yes, despite the fact that this is ET, you will be given the benefit of the doubt if you reply. :D...

SETUPS: 10/26/2009 OCO order used so that first order to hit is activated. System changes: Risk=0.25% per trade Limit of 3 setups per direction. Only 1 fill allowed in each direction. HOLDING LONG: NOK RED: KFT, WMB

I found the book "Options Made Easy" by Guy Cohen to be a pretty decent read.

Update: BOT +1 KFT 100 JAN 10 27.5 PUT @1.54

UPDATE: BOT +1 NOK 100 JAN 10 12.5 CALL @1.35