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I don't use the concept of overbought/oversold myself, but there are a number of indicators you can use to quantify this, such as RSI for example. The point I was trying to make was to be quantifiably rule-based in your determination of conditions, rather than going with your gut feel about...

Hi All, If you already have enough trading capital, is there any other reason for going pro (ie, joining a professional firm such as EchoTrade) that justifies the cost (higher ticket charges, sharing of profits, anything else?)? Just wondering. Thanks. -- Punter

I think you already know the solution to your problems: 1. Don't avg. losing trades, ever. 2. a. Enter open protective stop orders upon entry. If your broker won't allow open stop orders, find one that does. Better yet, find a broker who will put in your stop orders automatically upon...

Has anyone experienced slow execution of orders on the QQQ via Island? I have had a couple occurrences where my market orders for the QQQ routed to ISLD appeared to hang up and do nothing. I ended up cancelling the orders and then entering new orders to execute the order. Once I even...

Hi All, Right now I'm receiving ticks on the NDX and SPX cash indices every 15 seconds via Qcharts. I'm also getting the TICK and TIKI every 15 seconds as well. Does anyone know which exchange I should subscribe to in order to get these items on a real-time, tick-by-tick basis? I sent...

I tried trading the QQQs with BEST and found it unsatisfactory. The occasional delay in execution when it was routed the the AMEX led to poor fills: I watched as the stock moved down several ticks for over 5 seconds before the order was filled. I now use Island execution when trading the...

If you buy TS2000i, you wont' receive any support from Omega Research / TradeStation Technologies. Keep this in mind...there is a learning curve to getting TradeStation up and running. Also, TS2000i is a big resource hog, and it is on the buggy side. But on the other hand, there are a...

Hi All, Today I did a number of BEST execution market buys and sells of the QQQs. For those instances when the order was routed to the AMEX, it took more than 5 seconds before I received a report on the fill. During that time, I watched the price move away from me. On the other hand, the...

Hey Hitman, I've been enjoying your thread since pretty much the first day I joined EliteTrader back in August or so. Have you considered trading less frequently and wait higher reward day trading setups, rather than scalp type trades? I've had reasonable success finding my setups the...

Thanks guys for the post. Just to be clear, my idea of trading 1 share lots is just to test out a methdology, not to make any significant profits. I would be looking to see if you can make any money from the methodology before commissions My thinking is that if you're going to test a...

Hi Everyone, Can I please get your opinion about fills for 1 share lots vs. 100 share lots? Do you think the prices will be much different between the two? The reason why I ask is because it seems to make sense to try out a strategy trading the smallest unit possible, which for stocks...

Thanks Fohat for your reply. I had not considered after hours trading. Good point there. $12.50 spread for 1 futures contract / 500 shares of SPY = 2.5 cents. After taking a quick peek at the SPY's time of sales info, the avg spread there is certainly wider than 2.5 cents -- more like 5...

Hi All, I am wondering why one would choose to trade the SPY securities as opposed to the futures E-Mini S&P 500 Index (ES) counterpart. Perhaps you can help. Here's what I see are the differences between trading the SPY vs. the S&P futures: 1. Clearly there's a difference in terms of...

DeeMan, Great post. I'd love to hear more about how buy-side firms buy and sell their positions. Very helpful indeed. -- Punter

I have three brokers all together. One is direct access and all electronic (IB). Yes they do have telephone capability, but how quickly will they answer if their systems go down? One is an online discount broker with online and telephone access. (Schwab) The other is a discount...

... but if you don't understand how their system works for different types of orders (ie, BEST, Nasdaq stop orders, etc) I can see how it can be frustrating. -- Punter.

Personally Babak, thanks for taking the time to clear up this issue with Interactive Brokers. I suspect that Sam (quoted above) doesn't trade through IB and doesn't have a vested in interest in seeing this issue resolved. It's good that you contacted a responsive support person. I too in...

Hello, Can someone please explain the logic behind Interactive Broker's implemenation of stop orders for Nasdaq stocks? I'm not looking to debate how unusual their implementation is: It's been done before on the boards and clearly we can all agree that it's unusual. What's not clear to...

As you may know, Interactive Broker has an unusual way of handling stop orders for Nasdaq stocks. Here's how: "In regards to NASD stocks and US equity option, IB will elect Buy-Stop orders only after we see a bid at the stop price and subsequently confirm a second bid. Only after we confirm...

Hi All, What I'm looking to assess are the pre-market indications for the open of listed NYSE and AMEX stocks. I thought looking at pre-market trading on ECN's would be helpful, but I've noticed that it appears as if NYSE listed stocks sometimes aren't active/traded on various ECNs...