Grinding it out, day after day

[jones247]

Thanks for the reply Shreddog,

Is it a situation of using Visual Basic (VB) or using DDE for automation with excel and sterling? I understand that DDE has some security issues, and that Object Linking & Embedding (OLE) is the way to go. Does Sterling allow for OLE?

Ultimately, I'll need some help, as I'm unable to code... I'm willing to pay

Quote from Shreddog:

No groups or boards that I am aware of other than a fairly dormant thread here on ET. IB's API and Sterling's API are not very similar. IB's is better documented, better supported, easier to learn and generally more forgiving. Sterling's DDE works well IMO though.

::

 

[Shreddog]

Quote from jones247:

Thanks for the reply Shreddog,

Is it a situation of using Visual Basic (VB) or using DDE for automation with excel and sterling? I understand that DDE has some security issues, and that Object Linking & Embedding (OLE) is the way to go. Does Sterling allow for OLE?

Ultimately, I'll need some help, as I'm unable to code... I'm willing to pay

::

I am not aware of OLE in Sterling but it is not a topic I know anything about.

You need to use the API to submit and manage orders, it cannot be done with excel directly. So you'd need code that in some formal programming language. The API is ActiveX based. Personally, unless you are short on capital or have some other reason to go prop I'd stick with IB, especially as a beginner.

 

[Moneyball]

Quote from short&naked:

Oh no. Fail. The equity curves are actually quite similar. Depends on the which years you compare.

There are so many differences between the two- Neke's biggest loss of the year (over 100K) is from an options trade, something Lescor rarely if ever does. Neke went into his "adventure" expecting a max draw down of 40%, much higher than what Lescor would expect. Neke is (was) more of a swing-style trader, while Lescor is more of an intra-day trader (although they each do both). Neke is retail while Lescor is prop (which makes a huge difference in calculating %). Neke puts way more "eggs" in his basket, while Lescor is often in dozens of positions at once. The number of trades, frequency of trades, and risk of trades isn't even close. Likewise, their styles aren't even close. Ask Lescor when was the last time he was down 37% on the year. No disrespect to Neke, but the point is, they are two different styles completely.

 

[jones247]

Would you be willing to refer me to a Sterling API coder, as I'm willing to pay?

I currently trade with IB as well; however, I need the leverage from a prop firm, as my strategy demands more than $1m in daily BP. With IB, I have a bit more than $50k, which only gives me about $150k in buying power.

thanks,

Walter

Quote from Shreddog:

I am not aware of OLE in Sterling but it is not a topic I know anything about.

You need to use the API to submit and manage orders, it cannot be done with excel directly. So you'd need code that in some formal programming language. The API is ActiveX based. Personally, unless you are short on capital or have some other reason to go prop I'd stick with IB, especially as a beginner.

 

[konviction]

Quote from Moneyball:

There are so many differences between the two- Neke's biggest loss of the year (over 100K) is from an options trade, something Lescor rarely if ever does. Neke went into his "adventure" expecting a max draw down of 40%, much higher than what Lescor would expect. Neke is (was) more of a swing-style trader, while Lescor is more of an intra-day trader (although they each do both). Neke is retail while Lescor is prop (which makes a huge difference in calculating %). Neke puts way more "eggs" in his basket, while Lescor is often in dozens of positions at once. The number of trades, frequency of trades, and risk of trades isn't even close. Likewise, their styles aren't even close. Ask Lescor when was the last time he was down 37% on the year. No disrespect to Neke, but the point is, they are two different styles completely.

I think what he was getting at is that they both automate their trading. Neke does some discretionary stuff but 99% of the time its all automated.

 

[Shreddog]

Quote from jones247:

Would you be willing to refer me to a Sterling API coder, as I'm willing to pay?

I currently trade with IB as well; however, I need the leverage from a prop firm, as my strategy demands more than $1m in daily BP. With IB, I have a bit more than $50k, which only gives me about $150k in buying power.

thanks,

Walter

I do not know any sterling coders that work for pay, though they probably exist. Maybe post a request on sterling thread here on et?

figure 10k+ to pay someone to do it. Going to eat a chunk of your equity.

 

[bespoke]

I might code for pay if the price is right. It's probably more productive than napping, watching tv, and playing call of duty during RTH

Here's the Sterling API Developer thread http://www.elitetrader.com/vb/showthread.php?s=&threadid=125715

This is my first post in this thread so I just wanted to say it's been great. I didn't open it until last month cause I thought it was just another noob journal. I ended up reading the entire thing one day. Awesome stuff. Keep it up lescor.

 

[Gabfly1]

Quote from lescor:

...it was my third best of the year.

+$53,000 on 433,000 shares traded. Daily pl was +23, +19, +5, +6

Nice sledding. What were your commission costs for the week?

 

[lescor]

Quote from jnbadger:

Corey,

You had mentioned before that you gradually increased size "more slowly than what you're comfortable with."

Were there any points in your career when you were so comfortable with what you were doing that you instantly doubled or tripled your share size.

Thx.

The only time that would ever happen would be where I went from trading live with 100 shares just to test things out, to something more in line with my equity. But with 'real size', no.

 

[lescor]

Quote from short&naked:

No offense intented. But it is clear from your response that you do not hold neke strategy in high regard. It is also clear that you automatically assumed I was labeling you a gambler. Fairly touchy and sensitive for such a successfull trader.

I should have put a smiley at the end of my comment about the Neke comparison, it was tongue in cheek. I actually have a lot of respect for him. He's dedicated, well organized, seems to persevere through tough times with a level head. I like the way he approaches trading, very analytical and business like. I just think he takes WAY too much risk relative to his account size. I consider myself fairly risk averse. I value consistency over anything else. You have been misinformed if you think I would ever view a 50% DD as an acceptable risk.