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bobcathy, any progress this weekend on trying to 'universal-ize' the method? Pete

TradeStation is an obvious choice

there is a stat that also says that whatever direction the SP market takes between 1:00 - 1:30pm EST is the direction of where the market will close at 4:15pm EST. unfortunately, this correlation is only about 61% and does not take into account the 'size' of the move. so as in the...

i trade a mechanical short squeeze system that only shows trades roughly 4 times a month. got the signal this morning, entry at 817.00, so im long since then. will exit at end of day or if market makes new low below 809.00 (low of day so far) Pete

side question: what is the Derivatives Markets Specialist (DMS) certification? where can i find more info about it? thx. Pete

depends what you want to do? i trade the short side (short spreads) on stocks like GE, ED, IBM, UPS, and MRK. they are fairly stable from month to month when looking to sell away from the market so one can pick up 4% - 7% per month on initial margin if done right. Pete

probably the 'best put' phrase in this forum. funny how the blame game is always in full effect when things are not going your way, but when things are good, there are no thanks put out to the predecessors who, in effect, made it easier for you. also, the 'smartest' doesnt always mean the...

sorry about that. i forgot that he was not asking for help. i wasnt trying to get anything from him that he did not want to reveal, just thought that it was an open discussion - which i was wrong to think. sorry Pete

"trading with systems involves making decisions based on quantifiable ideas, not emotions after the fact. is there more that you can tell us?" so what 'system' are you using? if you let us know what you are looking at, maybe we can help too? Pete

i write my own code, so if you explain better what parameters you use, i can work on it in addition to your 'freebie'. let me know... Pete

well, hope all is good for you guys... on the trading note: ive been trying to write some TS code to incorporate your 'chimp' strategy, and cant seem to get a grasp on anything consistent. seems like there is no specific method to choosing the proper MA's and time setup? any suggestions...

hey bobcathy, you're back! Pete

im not trying to be critical, im just wondering what kind of system that you are using? not that i havent made any bad trades (just the opposite) but i think that most traders understand that if they enter a trade that doesnt look good, then they exit. but all that is subjective. trading...

understood. but what about the other side of what i mentioned? Pete

not to be TOO critical, but how can you say that you finished up 22 points, but also flat at [0]? also, if you followed your system, and did trade #3 by accident, unless your system tells you to make bad trades by accident, how can you say that you followed your system? please elaborate...

absoluetly true, just be careful trying to buy dividends, especially when you're saying that the stock is in a downtrend. no dividend (or option premium) is worth it if you're actually losing money on the principal of the trade... hope it works well! Pete

using mechanical systems can work, but you have to make sure that you are honest with yourself and trade them without emotion. i still deal with tons of traders who forget that these systemsa re set up to take the subjectiveness out of trading, not to put more into it. ive head great success...

there's nothing wrong with buying for the dividend AND waiting for the calls to expire worthless, but you still play the risk game by not covering your downside. with less risk and exposure, you can lock in much more than 1.36% by writing the put spread or even adding a call spread for more...

so downtown, do you work on your own? for a prop firm? for a big firm? i want to see if theres a chance that thera re smaller groups of traders who regularly meet to discuss ideas? also, if there is one firm better than another for trading prop? Pete

hi Rich, ive been trading independently for about 5 years now, mostly equity derivatives and index futures. what is it that you trade? Pete