Early Morning Range Breakouts using time and sales

This is a discussion on Early Morning Range Breakouts using time and sales within the Trading Journals forums, part of the Reception category; Originally Posted by WinAtTrading When you mean simulator, not sure what you mean. Do you mean trading charts realtime? If ...

Reply
 
LinkBack Thread Tools Search this Thread
Old May 23, 2012, 11:49pm   #191
 
robocop's Avatar
Joined Mar 2012
Re: Early Morning Range Breakouts using time and sales

robocop started this thread
Quote:
Originally Posted by WinAtTrading View Post
When you mean simulator, not sure what you mean. Do you mean trading charts realtime?

If you want a good chart package for free try TC2000

If you want to get rid of the adverts, they charge $30. Otherwise the free one is just great.
With a simulator I mean papertrading stocks with realtime (or 15 minute delayed) data, like realtime charts, time and sales, orderbook, etc. Papertrading with ProRealtime is the exact same chart engine as IG Markets Advanced Charts feature (which is from IT Finance). You can move your stops, limit, stop-limit, timed trailing stop, OCO orders on the chart.

Papertrading with ProRealtime costs about € 44.40 ($ 43.23) per month with Nasdaq equities (1 row orderbook) + Nasdaq indices.

I've created an account by TC2000, but I cannot find the buy and sell buttons for papertrading.
robocop is offline   Reply With Quote
Old May 24, 2012, 12:33am   #192
 
robocop's Avatar
Joined Mar 2012
Re: Early Morning Range Breakouts using time and sales

robocop started this thread I was thinking about the risk of stocks that gaps intraday.

Say you've gone short for whatever reason/system ARBA 1000 shares @ 38.20 and stop to 38.40. (thus risking ca. $ 200).

arba.jpg

Maybe youve taken some profits at 38.00, but may be not.

Suddenly the stock stops trading and is set on hold. You call your broker / watch the news, eat your shoe, and watch the pauzed time and sales window .

45 minutes later the stock starts trading again at $ 45. What the fck!!

arba2.jpg

You've lost roughly $ 7 per share, a net loss of $ 7000. How long do you need to daytrade to earn that amount of money back?

There was nothing you could do about it, or could you?

The only thing I could think of is:
a. trade the stock with options (buy premium, not sell premium).
b. trade using limited warranty CFD's. You're loss would be around $ 3000.
c. ?

Does anyone has a tactic to cope with these kind of events?
robocop is offline   Reply With Quote
Old May 24, 2012, 2:46pm   #193
 
robocop's Avatar
Joined Mar 2012
Re: Early Morning Range Breakouts using time and sales

robocop started this thread Backtesting this strategy

I've backtested this strategy with some stocks I have found with my scanner.
As you can see below some stocks tend to do well over time and give a perfectly sloped equity curve (see upper indicator).

intu2.jpg

fast.jpg

bmc3.jpg

swks.jpg

onxx.jpg

crus.jpg

infa.jpg

And some give a very bad equity curve over time.

algn-bad.png

Or medicore equity curve over time.

dmnd.jpg

If I only could figure out how to filter out the most promising ones...
That should improve my trading a lot!

If somebody has an idea, please let me know!

Watchout, the equity curve in the backtest is without commisions, but is using late entries (first open after a close above or below the 30 minutes opening range) and late exits (ema10) which can compensate. The backtest doesn't scale in/out trades.

Cheers,
Robocop
robocop is offline   Reply With Quote
Old May 24, 2012, 3:41pm   #194
 
WinAtTrading's Avatar
Joined Mar 2012
Re: Early Morning Range Breakouts using time and sales

Quote:
Originally Posted by robocop View Post
With a simulator I mean papertrading stocks with realtime (or 15 minute delayed) data, like realtime charts, time and sales, orderbook, etc. Papertrading with ProRealtime is the exact same chart engine as IG Markets Advanced Charts feature (which is from IT Finance). You can move your stops, limit, stop-limit, timed trailing stop, OCO orders on the chart.

Papertrading with ProRealtime costs about € 44.40 ($ 43.23) per month with Nasdaq equities (1 row orderbook) + Nasdaq indices.

I've created an account by TC2000, but I cannot find the buy and sell buttons for papertrading.
Hiya Robocop

I signed up to ProRealTime charts, and yes its a great interface. The same as IG Index which is great because I am used to it.
But I thought it was real time charts not delayed paper trading charts, so I must have missed that. I'll take a look again, as I like the way you have done the back testing in your most recent post.

For a trading simulator I have also used Tradingsim.com, but you have to go back 2-3 months for the practising. I only used the 7 day free trial so I would need more experience on it to find out all the benefits.

WinAtTrading
WinAtTrading is offline   Reply With Quote
Old May 24, 2012, 3:45pm   #195
 
WinAtTrading's Avatar
Joined Mar 2012
Re: Early Morning Range Breakouts using time and sales

Quote:
Originally Posted by robocop View Post

Does anyone has a tactic to cope with these kind of events?
Ive never experienced a stock that Gaps intraday. It could just be that your broker or the company providing you the charting software had a technical issue that takes some time to resolve on that stock? Would be good to find out what the cause was.
WinAtTrading is offline   Reply With Quote
Old May 24, 2012, 3:56pm   #196
 
robocop's Avatar
Joined Mar 2012
Re: Early Morning Range Breakouts using time and sales

robocop started this thread
Quote:
Originally Posted by WinAtTrading View Post
Hiya Robocop

I signed up to ProRealTime charts, and yes its a great interface. The same as IG Index which is great because I am used to it.
But I thought it was real time charts not delayed paper trading charts, so I must have missed that. I'll take a look again, as I like the way you have done the back testing in your most recent post.

For a trading simulator I have also used Tradingsim.com, but you have to go back 2-3 months for the practising. I only used the 7 day free trial so I would need more experience on it to find out all the benefits.

WinAtTrading
Quote:
But I thought it was real time charts not delayed paper trading charts, so I
must have missed that
They have recently introduced papertrading charts for all markets, but these are delayed. I use the realtime papertrading charts (it comes standaard with the realtime quotes), but they are more expensive, so I limited myself to the Nasdaq quotes + indices. Maybe if you are repond to them, you could change the subscription. (do not use the Bats quotes, these aren't as good as the normal quotes because they have ill liquidity).
robocop is offline   Reply With Quote
Old May 24, 2012, 4:24pm   #197
 
robocop's Avatar
Joined Mar 2012
Re: Early Morning Range Breakouts using time and sales

robocop started this thread ONXX Long 400 @ 45.68
Stop @ 45.13
robocop is offline   Reply With Quote
Old May 24, 2012, 4:49pm   #198
 
robocop's Avatar
Joined Mar 2012
Re: Early Morning Range Breakouts using time and sales

robocop started this thread
Quote:
Originally Posted by robocop View Post
ONXX Long 400 @ 45.68
Stop @ 45.13
Out @ 45.98

Was aiming at 45.30, but it just collapsed.
robocop is offline   Reply With Quote
Old May 24, 2012, 6:53pm   #199
 
robocop's Avatar
Joined Mar 2012
Re: Early Morning Range Breakouts using time and sales

robocop started this thread CRUS Short 1000 @ 27.17
Stop @ 27.37
robocop is offline   Reply With Quote
Old May 24, 2012, 7:07pm   #200
 
robocop's Avatar
Joined Mar 2012
Re: Early Morning Range Breakouts using time and sales

robocop started this thread
Quote:
Originally Posted by robocop View Post
CRUS Short 1000 @ 27.17
Stop @ 27.37
Exit with loss @ 27. 32
robocop is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Opening Range Breakouts what works? rizwanuk Technical Analysis 13 Dec 3, 2012 7:39am
Trading morning breakouts hedron Discretionary Trading 5 Apr 6, 2012 1:50pm
Open Range BreakOuts Strategies backtesting tradingdde Trading Systems 0 Aug 15, 2009 5:58pm
Trading overnight gappers and early range breakouts chartgonzo Stocks 13 Dec 24, 2008 12:59am
Article: Range Breakouts and Trading Tactics T2W Bot Educational Resources 7 Mar 1, 2006 1:29am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)