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Correct me if I'm wrong, but isn't this setup the same as a collar, only that the put and call strikes are the same rather than the call higher and the put lower as in a collar? If so, I know that with IB I've been able to sell out the underlying stock from the collar and maintain the position...

Well, I use both. I use IB for my executions and Realtick for my market data. Of course, I'm sure you're referring to being able to execute directly from Realtick. Nice dream indeed.

rtharp addresses other variables that affect one's expectations. First, there are clearly some traders who derive a primary income from trading (myself included), and those who trade as a side endeavor from another career. I suppose in order to trade as a primary source of income, one needs to...

Regarding the average daily profit to consider successful, I think it's a dangerous thing to compare. For someone like myself, $1000 a day average is the norm, but I know traders who are tickled pink to consistently make $200 per day. Even someone making $150 a day may be making more for a few...

mjt, I don't trade anymore with a Realtick broker. I subscribe independently to Realtick directly through Townshend Analytics and execute all trades through IB. I was under the impression that my Realtick feed was from TAL Data directly (I subscribed directly at http://www.realtick.com), so to...

My personal stop management is suited toward swing trades. The way I normally operate is that I place a stop usually 1/4-1/2 below my entry point. As soon as a stock moves in my direction, I move my stop to break even. From there, I trail my stop 1/8 for every 1/4 the stock moves. So if the...

The reality is that it doesn't matter how much knowledge a trader accumulates in this business. The most overwhelming factor that determines one's success or failure is personal qualities, namely emotion and the gravity of fear and greed. It is these factors that causes a trader to blow their...

It's true that IB's system will only display those instruments that you can actually trade. Since you can't trade the Dow itself (unless using options or Spiders), TWS won't display the Dow index (likewise the NAZ and S&P). That's why it is advisable to use a separate quote/charting feed of...

I use the Realtick Pro Plus subscription, which costs roughly $250 per month, but is well worth it and pays for itself in less than one trade.

I use IB for my executions, and overall have been quite happy. I do use Realtick (without order entry) for my real time charts and quotes, as IB's real time info is pretty basic. However, in terms of speed of executions and handling of trades, I'd say it goes as well as when I was with a...

Go to the AMEX and PHLX websites below, which have complete breakdowns of their sector indices. http://www.amex.com/asp/option_info.asp http://www.phlx.com/news/mem_divisor.html

Hi Carl, I've found IB to be excellent with options trading. Unless I get routed to one of the slower exchanges like AMEX, I usually get filled almost instantaneously on market orders. You can get filled between the spread but can't count on it, since options are far less liquid than...

Sure, with options you have 3 main factors in the pricing of an option: the value of the underlying stock, volatility, and time value. So for instance, a fairly volatile stock like JNPR has a high volatility value priced into most of its options. In addition, the further out the expiration of...

The Best routing should be about the same as the others with the NYSE, as most of the time the best inside quote will either be the specialist or ISLD. Whichever it is, Best Execution will automatically route it there, so if ISLD had the best inside quote, the speed should be the same as if you...

Just curious, why would you want charts for options (intraday no less), since option prices move based on several factors other than just the underlying stock's price, and therefore don't generate the same kind of support/resistance indicators that the underlying charts do?

Mr.F, I'm surprised regarding your problem this morning. My feed was fine, in fact I completed a quick daytrade (in options no less!) with no problems whatsoever.

Greg, The reason I'm not crazy about using Best Execution if a market maker is at the inside is because I try to never have to execute against a market maker. As a rule it will cause problems, as they can hold your order, back away, etc. while you sit there waiting to see what they'll do...

I'm not sure regarding the listed stock question, but with respect to the question about entering an order on the NASDAQ, if you don't have a Level II feed, your best bet would be to have TWS display the Best Execution quote (which shows the inside quotes regardless of who is quoting it), as...

Que, There's a thread regarding the new SEC rules that go into effect at the end of September, but to recap briefly, all daytraders will be required to maintain a minimum of $25,000 in their accounts, and all traders who meet this requirement will have the 4-1 buying power...

Having met with mgregor, I know that he is attempting to organize in Florida a seminar that Tony would travel there to teach, not simply a bunch of traders getting together to talk about Tony.