Spread Charting

[H2O]

Quote from nkhoi:

yes

Calculations are wrong !!!

Use Line charts, The only correct points when calculating spreads are the open and the close because the happen at the same time.

The only way to build candles (OHLC) if to use tick data to build the candle.....

I have not found a charting package that will do this.

 

[rp10029]

Quote from H2O:

Calculations are wrong !!!

Use Line charts, The only correct points when calculating spreads are the open and the close because the happen at the same time.

The only way to build candles (OHLC) if to use tick data to build the candle.....

I have not found a charting package that will do this.

I think the old AT Financial now Thompson does intraday data spread charting. bridge also does.

maybe I'm just confused, but I've had intraday spread charting for these products for years. ratio adjustable the whole 9

 

[oil_trader]

You can use TnT with the spread plugin, (plus they also have COT plug in and SEAS forcast. See this example...

Quote from -ooO-(GoldTrade:

OK here is the scoop from Pipeline, Oahu, Hawaiian Islands.

1. When I started trading Gold, I would get the London Fixes off of the radio and make my charts by hand. This worked very well. No complaints.

2. Jim Sibbett used to mail me charts with the Demand Index. These we would update daily until the following weeks charts arrived.

3. Later we joined T.A.G. A few hundred of us paid a couple of grand each to hire a guy in New Orleans, to hire people to write software for us. This was called Compu Trac. It was the most Commodity Trader friendly product I have ever used. It could tell us our stop losses 5 periods ahead. It let us adjust Parobolic to start at swing extremes. The programmers did just about anything we asked except pattern recognition. That is we did not have enough processing power available to read Bar Chart patterns.

When the S&P stock market crowd came along they outnumbered us thousands to one. My opinion is it then shifted more toward entertainment than increasing as a more useful tool for Futures traders because of the stock market traders..

4. SuperCharts took over as the leader for end-of day trading until they (Omega) stopped offering updates. I have friends here in the Islands who still use SuperCharts. The thing all of these now antiquated programs had is common was the wasted time, gathering and maintaining clean data from CSI.

5. Online charting... I have written extensively about Web based charting on the web. Most currently in Elite probably under Spread Charting

The Luxury of Online charts means we no longer have to procure and maintain data. We can call up charts on anything from many different sources on the Web, and see what we need to know to make our own decisions. Research companies email us seasonal and whatever else we need in the way of charts or commentary daily.

It is very easy to travel, work off line, and just trade in general when you are not tied to any physical location. Traders can trade just as easily on Vacation in Bali as in Kansas City. I am writing this on a plane going over Reno NV.

Supply and Demand is a very simple thing. If you can read and take action from a chart, you will find little need for more than a few indicators. If you can read a bar chart directly & take action. You will have little need for every fly by night system that comes along. ÒTharp,Ó in his excellent book. Puts forth the well known proposition that the more indicators or filters that you use the more opportunities that you probably will miss.

Darren the Ad that you sent me was for

ÒCustom Technical Analysis Indicators & Trading Resources for Omega TradeStation in EasyLanguage,Ó

Omega Tradestation is a program that if you become addicted to it you are like a patient on life support. It is like intravenous market support for system developers. Tradestation carries technical analysis and news directly into your nervous system. It brings in nourishment so that you can make healthy decisions as well us tons of unnecessary information to upset you. Those who are true converts cannot live without it.

Easylanguage is a way to write new studies and test them. Very time consuming. Very expensive in terms of time that could be spent at the beach. Results are unlikely for a new trader, to be better than learning to read a bar chart yourself. John Hills work is particularly good on reading chart patterns.

Really you have to ask yourself. Are you going to become a trader like Jesse Livermore in Reminiscences of a Stock Operator,

or do you want to develop a temporal nebulous trading system using Easylanguage.

As far as finding an "overlooked" trading methodology that works Good Luck!

JoeÕs Book on Spreads and Seasonals will be WAY more profitable.

 

[E R]

Hi all,

I think the MRCI site is great. I also ran across this other site--it's scarrtrading.com (I don't know if it's allowed to post the link here).

First, I am NOT affiliated with this site, and NOT a vendor. I just want some advice on whether this seems worth it--seems to be rather good programming and offers a lot of flexibility in charts that I haven't seen anywhere else.

What opinion do you have about this software (especially being used for eurodollar spread plays)?

Thanks!

 

[andrasnm]

Track N Trade is very decent for charting. I am not sure if this is what you are asking. for executions I use Vision's
software and it does spreads well.
Vision Express - it is FREE

Quote from E R:

Hi all,

I think the MRCI site is great. I also ran across this other site--it's scarrtrading.com (I don't know if it's allowed to post the link here).

First, I am NOT affiliated with this site, and NOT a vendor. I just want some advice on whether this seems worth it--seems to be rather good programming and offers a lot of flexibility in charts that I haven't seen anywhere else.

What opinion do you have about this software (especially being used for eurodollar spread plays)?

Thanks!

 

[-ooO-(GoldTrade]

I have read some of your spread posts. It really got me to thinking about trading and why I actually started to trade. I remember that I wanted to trade with EOD data and not have the stress involved with always having to daytrade. Well, I made a killing in an Oat spread, I barely knew exactly how it worked at the time, and I was ecstatic. I thought I'd continue to learn about spread trading.

Well, here's the question... You seem to really know spread trading. Where is the best place to start to learn spread trading?

Spread Trading Books É

I am pretty familiar with trading off of the closing price and with technical analysis. You seem to think allot to Joe Ross's book. Should I just start there?

Mr. RossÕs book on Òtrading spreads and seasonals,Ó has no equal. Particularly of interest is his ÒHow to read close only chart patterns.Ó You have to know how to do it, and as far as I know there is no better teacher still living. I am not sure if it is even explained anywhere else.

Eventually you are going to have to cover all the material, JoeÕs might as well be next. Jake Bernstein is good of course, anything by Steve Moore.

Is there any, discussion forums courses etc I should read?

Ross left a pretty good trail É search on ÒJoe Ross articleÓ at misc.invest.futures.

-oo0(GoldTrader)0oo- Pretty much the best thing to do is put on some low margined, low risk seasonal calendar spreads and hold them for a month or so.

While you are awaiting the arrival of Ross, why not refresh yourself with Jesse Livermore É

One more thing... I used to use Gecko's Track n Trade Pro. I know you've probably have heard of it. I really loved the software and I liked how I could download the data and trade while out of town etc.

In the early days we had these big giant computers that users could access by terminals from around the world. There was a transitional period where we compromised on what could be done and people carried around their own programs and got there own data. Care and maintenance of data was very time consuming. Garbage in garbage out. A lot of the settlement prices are not actual trades anyway. So many traders have blamed bad trades on computer failure, when there is really no excuse for it.

Today I can walk into an Internet cafŽ or public library, anywhere in the world and in less than their minimum time, I can see what happened and place my trades for the next day. Any Internet access anywhere.

TradeStation is a magnificent platform it evolved out of the end-of-day ÒSuperCharts,Ó which was the best there ever was. You can use TradeStation to study the relative strengths of oscillators and test long-term theories when you are developing a system. But its probably overkill on a portfolio of spreads. In olden times traders always had some spreads that they would keep unused capital resting in. We just found that the Òreturn on margin,Ó often exceed what we were getting on our naked trades. When Moore isolated the seasonal patterns for the exchanges it became a no brainier. Trade Spreads!

Here's a link. Is this perfect for spread trading?

See ÒSpread Trading charts.Ó I prefer the freedom of being 100% online. As long as you can read charts it does not matter what you use. If you like it use it. Costs in time and capital are always a factor.

I'll be very grateful for any insight you can give me. Thanks.

See É Spread Trading: How to

 

[Rickshaw Man]

Spread chart

 

[-ooO-(GoldTrade]

Quote from Rickshaw Man:Life can be likened to a grindstone. Whether it grinds you down or polishes you depends upon what you are made of.

And how long you keep your nose to the stone.

 

[knocks420]

I wanted to look at the spread between
XAU vs. Gold futures. Most of the free spread charting I've been using (futuresource, Brite) can't do these charts, only spreads between commodities. I'd really like the capability to chart ETF's and Indices vs. futures. Anyone know of a charting software that does, preferably something free while I learn about this technique?

Also, in general, options vs. future contracts, what are the pro's & cons when entering a spread?

Thanks!

 

[BlueHorseshoe]

Quote from knocks420:

I wanted to look at the spread between
XAU vs. Gold futures. Most of the free spread charting I've been using (futuresource, Brite) can't do these charts, only spreads between commodities. I'd really like the capability to chart ETF's and Indices vs. futures. Anyone know of a charting software that does, preferably something free while I learn about this technique?

Also, in general, options vs. future contracts, what are the pro's & cons when entering a spread?

Thanks!

I'm also looking for a good way to spread Oil products vs. crude, and also the 2-10 'TUT' spread. Most interested in suggestions.