Yes, futures, I'm interested in stocks too but didn't want to overcomplicate it in one thread.
And thanks that makes sense paying for the data
You mean using Sierra chart instead of Jigsaw?
Trying to make a basic setup for scalping futures
- Thread starter Omer1235
- Start date
Yes, futures, I'm interested in stocks too but didn't want to overcomplicate it in one thread.
And thanks that makes sense paying for the data
You mean using Sierra chart instead of Jigsaw?
You tell me...
Sierra chart instead of Jigsaw?
https://duckduckgo.com/?t=ffsb&q=Sierra+chart+instead+of+Jigsaw
I use IB only. I don't scalp, per se but day trade. True scalping is too difficult in the CME futures market with a retail connection and retail tools. The delay (1 to 1.5 second) is insurmountable. Often I will have executions a second before the charts indicate the price movement. Almost always the execution verification is delayed by a second in which time prices will move a "scalping distance" (1-3 Ticks).
I know a lot of people think the tools are the "key" to an edge. They are not. They are just tool and how you use them or NOT use them is more important. Know how to use them expertly: most efficient, time effective and reliably. This is trading. Think multi person THUNDERDOME with Bots. A expert with a 2 in shank can still take out a newbie with a big gun.
I know a lot of people think the tools are the "key" to an edge. They are not. They are just tool and how you use them or NOT use them is more important. Know how to use them expertly: most efficient, time effective and reliably. This is trading. Think multi person THUNDERDOME with Bots. A expert with a 2 in shank can still take out a newbie with a big gun.
You use IB charts?
Then there is something wrong with your set-up. 1-1.5 second delay?
That is 1000 to 1500 milliseconds. Not right at all.
Yes IB TWS Charts.
Even something as old as IB TWS is very reliable if you use only a subset of basic features. I stick to the core functions, so I only deal with one (predictable) minor workaround on a rare occasion.
If have not had an "execution" error caused by the software in over 10,000's trades or the last 26 months.
If I introduced a new interface or software element, it would set me back 2-4 weeks in system testing. It would also introduce unnecessary software risk forever. Software risk is something people rarely talk about but you see someone posting about every two weeks about how the "software" caused a problem. It comes off as "I hit my thumb with the hammer" to me.
Wasn't it last month a bunch or people were screwed by a platform and the data provider issue?
Even something as old as IB TWS is very reliable if you use only a subset of basic features. I stick to the core functions, so I only deal with one (predictable) minor workaround on a rare occasion.
If have not had an "execution" error caused by the software in over 10,000's trades or the last 26 months.
If I introduced a new interface or software element, it would set me back 2-4 weeks in system testing. It would also introduce unnecessary software risk forever. Software risk is something people rarely talk about but you see someone posting about every two weeks about how the "software" caused a problem. It comes off as "I hit my thumb with the hammer" to me.
Wasn't it last month a bunch or people were screwed by a platform and the data provider issue?
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Mostly I am getting < 1-sec delay.
When there are very major events in the US,
the delay could be in seconds to minutes.
and for those who use very lousy charting software and trading platform,
the delay could be in minutes to perhaps HALF AND HOUR!!!
So far, the record was 45 minutes delay during the early US session from this particular lousy charting software (which still exists).
Do you have Templates set up so when you call up a new symbol's chart it displays ready to get the show on the road on the fly, or do you have a few adjustments to make before each new symbol is ready to rock?
Don't suppose you'd post a screenshot of a typical chart sans special sauce would you?
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In each tab I have several charts linked to a group (Colored chain icon). In that same tab I have a quote monitor, linked to the same group. When I click on a new stock in the quote monitor, it loads it in all the charts. Slow as hell if it is not cached. I stay under the 100 quote limit. It used to be faster in TWS, but swing trading does not require instantaneous chart drawing.
So no adjustments.
Making adjustments goes against my methods. I use my mind to see-measure what I want to know. All the settings are only reference points for the mental measuring sticks. I know a lot of people use the indicators as, well, indicators for actionable events (buy or sell). That is so "last century" and the early (simple) Bots were based on that premise. You have to figure out not only your counter Bot tactics, but also how you are going to stay ahead of them as they evolve.
That should be enough of a pointer, I hope.
PS: Sorry OP, this is way way beyond the basics. This is more like graduate level theory.
So no adjustments.
Making adjustments goes against my methods. I use my mind to see-measure what I want to know. All the settings are only reference points for the mental measuring sticks. I know a lot of people use the indicators as, well, indicators for actionable events (buy or sell). That is so "last century" and the early (simple) Bots were based on that premise. You have to figure out not only your counter Bot tactics, but also how you are going to stay ahead of them as they evolve.
That should be enough of a pointer, I hope.
PS: Sorry OP, this is way way beyond the basics. This is more like graduate level theory.
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Yes and no getting around it.
(Co-location and seat membership only to truly scalp.)Yet time and again a newbie starts a topic either not realizing this fact, or thinking someeeehow they can succeed nonetheless against all odds.