09/30/03

Quote from Fast_Trader:

This morning was intense. I tried getting short ES at 999.75 but no fill (should have just lowered it a tick). Anyways, I was long when the news came out...got stopped out immediately. Still managed to come out with some cash in my pocket, but not much.

Gotta love the TURBO button tho :D

-FastTrader
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Is IB your broker?
 
Quote from hypostomus:

...help me get the picture. You watch SPX (because it's clean?), but trade SPY? If so, why not just trade ES?
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no i have SPY, MSFT, and QQQ up on the screen....rarely watch anything else.....

i will be trading ES when my size gets bigger....started with SPY b/c it allowed me to scale into my trading :)
 
Quote from Fast_Trader:


Yes. Why?

-FastTrader
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Why don't you use a front-end with a chase-function, that way you will hardly ever miss an entry.
 
Quote from Ditch:



Why don't you use a front-end with a chase-function, that way you will hardly ever miss an entry.
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"Chase" function? Does this automatically lower the price by X number of ticks if you don't get a fill immediately? Can you point me to a front-end that would accomplish this?

Also, the price did run up to my Limit, but I guess I was last in line so didn't get a fill.

-FastTrader
 
Quote from Fast_Trader:


"Chase" function? Does this automatically lower the price by X number of ticks if you don't get a fill immediately? Can you point me to a front-end that would accomplish this?

Also, the price did run up to my Limit, but I guess I was last in line so didn't get a fill.

-FastTrader
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Yes, i have it set to 1 tick, always get filled, most common front-ends will do fine: bracket-trader, ninjatrader, etc.. there are several threads on this topic.
 
Quote from Fast_Trader:


"Chase" function? Does this automatically lower the price by X number of ticks if you don't get a fill immediately? Can you point me to a front-end that would accomplish this?

Also, the price did run up to my Limit, but I guess I was last in line so didn't get a fill.

-FastTrader
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omg, you don't have a chase on? are you kidding? you're kidding right? ok, do me a favor at this moment. stop what you are doing and go to www.ninjatrader.com and download that baby. you'll be up and running in a few minutes. flip the 'chase' button on and set it to a few ticks. that way, your system/strategy never gets fucked up again. dude, you have to have control over how your system/strategy works.

if it says that you need to be short here, then your software better be able to do it. could have been the difference between your morning and mine. :)
 
...another stupid question. If limit order fills are so elusive, why aren't you using market orders? My backtesting of a successful market order strategy suggests that the benefits of the identical limit order strategy go away if you have to chase entries and exits. BTW, since you are a po' boy like me, think about trading NQ. Yield per dollar invested is higher than that of ES, intraday margin is $1125, and you can comfortably (IMO) trade intraday with $2500-3000 per contract. Best regards. - Mike
 
Quote from hypostomus:

...another stupid question. If limit order fills are so elusive, why aren't you using market orders? My backtesting of a successful market order strategy suggests that the benefits of the identical limit order strategy go away if you have to chase entries and exits. BTW, since you are a po' boy like me, think about trading NQ. Yield per dollar invested is higher than that of ES, intraday margin is $1125, and you can comfortably (IMO) trade intraday with $2500-3000 per contract. Best regards. - Mike
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i am using limit orders b/c of two things. primarily, i still want to limit the 'range' of my entry. i like to enter very close to a pivot, because my stop is behind that. a limit order also needs no conversion (from a market order)...it goes straight to the market for execution.

NQ sounds interesting. yeah, i'm sure i'll end up trading them all anyways...that and the australian, tokyo, hong kong, and south korean markets. ;) europe gets up to early for me ;) i'm in SF.
 
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