Thanks for the feedback. I am for sure going to be taking it very slowly. I like the volatility idea, I can get those numbers from TI just seems like a pain to have to compare it all the time. I see that there is an alert in there for volatility pullback but the question is how do I keep track of just the stocks I bought. Need to think about that. My initial idea was to trade 400 share lots. I have access to decent amount of capital but want to start small. I figure in the area of about 80K retail account. Also wondering if there is good way to automate this stuff knowing myself and my urges to outsmart my own system....
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Walking the walk (Blotter Thread Continued)
- Thread starter Diamondtrim
- Start date
Thanks for the feedback. I am for sure going to be taking it very slowly. I like the volatility idea, I can get those numbers from TI just seems like a pain to have to compare it all the time. I see that there is an alert in there for volatility pullback but the question is how do I keep track of just the stocks I bought. Need to think about that. My initial idea was to trade 400 share lots. I have access to decent amount of capital but want to start small. I figure in the area of about 80K retail account. Also wondering if there is good way to automate this stuff knowing myself and my urges to outsmart my own system....
wow hydoblunt no need to attack attack attack!
first of all i dont trade prop! I have always traded retail from my home with my own capital. I do pay .002 actually .003 on certain ecn's. Am I a fool to take advantage of what I have before me to make money or are you a fool for criticizing me. You can get these rates pretty much anywhere if you know who to go to and what to bring them.
first of all i dont trade prop! I have always traded retail from my home with my own capital. I do pay .002 actually .003 on certain ecn's. Am I a fool to take advantage of what I have before me to make money or are you a fool for criticizing me. You can get these rates pretty much anywhere if you know who to go to and what to bring them.
Quote from mksummny:
wow hydoblunt no need to attack attack attack!
first of all i dont trade prop! I have always traded retail from my home with my own capital. I do pay .002 actually .003 on certain ecn's. Am I a fool to take advantage of what I have before me to make money or are you a fool for criticizing me. You can get these rates pretty much anywhere if you know who to go to and what to bring them.
Ha,
If you think that's an attack you definitely should not find out how penny/rebate "trading" is considered on the Street. That's why I find it funny, especially after getting the details, particularly the rock bottom commissions on which you depend on.
IGolf,
What I meant by volatility I think was misinterpreted. Go study the concept of "ATR". Each stock has a unique Average True Range. Most stocks behave similarly, just altered for their volatility. You should tailor your approach to adapt to this volatility. For example make your stops by 25% of ATR, not 1% of the stock, as 1% may be 400% of ATR in one stock and 50% in another. Then set your monetary positioning to equal some percentage of this ATR. Your trading will be much more adaptive and make much more sense.
Secondly, you can automate your trading but this will involve a fairly substantial amount of programming. I still think you are putting the horse before the cart. Why automate something you have not proven will work? Why not first go learn to program so that you can backtest the strategies you wish to employ. This is a much better progression than what will happen, jumping from strategy to strategy, thinking one or the other is working, second guessing yourself, etc, etc. Learn to backtest properly. You and your bankbook will thank me.
What I meant by volatility I think was misinterpreted. Go study the concept of "ATR". Each stock has a unique Average True Range. Most stocks behave similarly, just altered for their volatility. You should tailor your approach to adapt to this volatility. For example make your stops by 25% of ATR, not 1% of the stock, as 1% may be 400% of ATR in one stock and 50% in another. Then set your monetary positioning to equal some percentage of this ATR. Your trading will be much more adaptive and make much more sense.
Secondly, you can automate your trading but this will involve a fairly substantial amount of programming. I still think you are putting the horse before the cart. Why automate something you have not proven will work? Why not first go learn to program so that you can backtest the strategies you wish to employ. This is a much better progression than what will happen, jumping from strategy to strategy, thinking one or the other is working, second guessing yourself, etc, etc. Learn to backtest properly. You and your bankbook will thank me.
i dont "depend" on anything, nor do I rebate trade as you say. I have spent the last few years making millions of dollars trading MY style of trading nothing more nothing less. Its a shame you have nothing better to do on a Wednesday night than shoot your mouth off. The only reason Im still up is because the Alias ending pissed me off....
Quote from opmtrader:
IGolf,
What I meant by volatility I think was misinterpreted. Go study the concept of "ATR". Each stock has a unique Average True Range. Most stocks behave similarly, just altered for their volatility. You should tailor your approach to adapt to this volatility. For example make your stops by 25% of ATR, not 1% of the stock, as 1% may be 400% of ATR in one stock and 50% in another. Then set your monetary positioning to equal some percentage of this ATR. Your trading will be much more adaptive and make much more sense.
Secondly, you can automate your trading but this will involve a fairly substantial amount of programming. I still think you are putting the horse before the cart. Why automate something you have not proven will work? Why not first go learn to program so that you can backtest the strategies you wish to employ. This is a much better progression than what will happen, jumping from strategy to strategy, thinking one or the other is working, second guessing yourself, etc, etc. Learn to backtest properly. You and your bankbook will thank me.
I think we are on the same page as far as ATR and volatility. I don't know where to get ATR for every stock but I can look up their unique volatility with my TI trial. I have been going to this link to look stuff up to get a feel http://www.trade-ideas.com/StockInfo/ this way I know what to expect for the stock I look at. I think this approach is ok. I am not a programmer so I don't think I will be albe to just learn it. I need some tools that automate stuff for me that is why I am trying a couple of things out.
PLEASE don't TURN THIS QUALITY THREAD INTO A PISSING MATCH. sorry for shouting....but it needed to be said.
Going into the open things look good. I have to admit my luck has been tremendous since joining this thread so I aint going anywhere! Bought OXY yesterday and its indicated up a bone....and TOL and BOOM are flying....gonna take BOOM off the table on the open. Good luck to all today
Going into the open things look good. I have to admit my luck has been tremendous since joining this thread so I aint going anywhere! Bought OXY yesterday and its indicated up a bone....and TOL and BOOM are flying....gonna take BOOM off the table on the open. Good luck to all today
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Quote from Hydroblunt:
Ha,
If you think that's an attack you definitely should not find out how penny/rebate "trading" is considered on the Street. That's why I find it funny, especially after getting the details, particularly the rock bottom commissions on which you depend on.
I think it's needs to be said that those fees that he quoted ARE NOT COMMISSIONS THEY ARE PASSTHROUGHS. A totally different beast.
mnx