Evening trading US shares

TheBramble said:

Does this indicate your exits are manual, but your entries automated or are they both manual?

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Yes I can turn every thing off manually but both exit and entry are automated . In fact every thing is automated

Grey1

YM looking positive before the open

I am up $900.. A very very difficult day to trade specially that I had internet problem and my program Trade froze .


just 1 SHORT OVER NIGHT Trade COST for tomorrow as seen ..


Muchas gracias

No trades for me today as I am trying to nail a day trading strategy & too many losing days. I did however get an excellent signal on AEM just before it broke above 46.10.

What strategy are you using ?


Paul

PS Check your email

Hi Paul

Thanks for your email which has sorted the issue. As of today I tested Grey1's strategy 1. This gave me the signal for AEM. As I see it, if you obtain the list of stocks in the sector outperforming the market, it is a matter of reducing the 'tradable' stocks in radascreen according strategy rules i.e daily volumes/ATR etc. Could you email the code for the MACCI as this is an element of the VWAP strategy.

Thanks

Tafita

I have sent the Macci to you


Paul

Many thanks Paul, once I get to grips with it, I will be in a position to post trades on this BB.

Tafita

tafita said:

Many thanks Paul, once I get to grips with it, I will be in a position to post trades on this BB.

Tafita

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TAFIA

remember if you are using MPD bands then you must take two postions one short one long to eliminate the effect of market direction ,,,

Grey1

Grey1 said:

I am up $900.. A very very difficult day to trade specially that I had internet problem and my program Trade froze .

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I found it an extremely difficult day to trade, and to stay out of trading too for some reason.

Session started with a lot of 'interest', with a relatively large number of potentially tradable stocks coming up on the scanner. As I waited for the first half-hour to go off the boil and to leave the ‘obvious’ targets to concentrate on for the day - there weren’t any there.

Thin, very thin. Most of the declining stocks were low-priced offerings and those in tune with the sector and index were low on momentum and very choppy. A clear indication to turn off, tune out and go do something else. Normally I have no problem with doing precisely that.

ALAB (Alabama National) was a prime target from the off for a retrace, but that never developed. But I ‘expected’ it to develop. It dropped a dollar on the first half-hour (which I don’t trade) but then effectively flat-lined. Well outside my normal stock selection criteria on volume, but it did register interest due to its delta on the previous session close.

I did take one trade. Contrary to then sector and market action (and counter to my standard rules) I took CSCO short from a confirmed re-test of Resistance at 32 with a target at next Support of 31.50 – relatively narrow reward I know but with a stop at 32.05 it was a very reasonable R:R. When it broke back up through 31.80 just after lunch after an extremely lacklustre couple of hours, my timeout kicked in and I covered for 7c profit. Don’t know why I bothered as it was counter to the then sector and market trend and there was no really convincing volume profile. I was lucky to get out with any profit and deserved to do worse. The ‘attractive’ nature of the R:R was a likely incentive within a sea of grey. As was the initial surge of potential across the board. Need to keep a check on that – being bored is no excuse. I’ve stayed out of flat markets more times than I can remember, so I’m interested what compulsion took hold of me yesterday to make that trade. Navel gazing time.

You get days where the payback is negatively out of whack to effort and time invested, but then again, they don’t occur that frequently. You need to be ready for them when they do.

Be interested to know how others did that did well yesterday and what their substantive approach is as all the technicals and momentum stuff failed me miserably (or did I fail it?). Perhaps more accurately, it didn’t fail me, but (mostly, when I listened to it) kept me out off a thin, choppy market.

And hats off to Grey1 for taking money on what was from my perspective a very difficult day.

Grey1 said:

Yes I can turn every thing off manually but both exit and entry are automated . In fact every thing is automated

Grey1

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Hi there.

May I ask which software you are using for your ATS?

rols said:

Hi there.

May I ask which software you are using for your ATS?

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The sofrware is my own which containes all the strategies that i have been explaining on this BB during the last past few years. All code is in Easy Language and uses API to connect to IB platform .

Hope this helps

grey1

TONY ,

Yes it was a very difficult day ,, Slight strength in the market was sold into . This was so severe that halted the market from moving even after 7PM and as we all know historically this is the time where market trends either way .. I got caught in BHI and lost 240 ish fast and i felt like a fool as I had already realized the program Traders were scalping the very very tight range . As a result of such a narrow range oscillation of the market I turned theVWAP engine to trade against the spikes and got 290 ish out of JOYG and around 350 ish ( if I am not wrong ) out of AAPL . A bit of their own medicine see how they like it

To ALL Traders :--

If you are new to trading do the following

1) DONOT TRADE WHAT SO EVER TILL 7 UK time
2) WATCH THE MARKET ALL DAY
3) PLOT THE MACCI INDICATOR ON 10 MIN CHART OF INDU
4) WHEN MACCI IS AROUND 100 ISH LOOK FOR STOCKS THAT ARE GIVING AWAY MORE CENTS THAN OTHERS .. THIS IS THE SIGN OF WEAKNESS.( reverse for OS )

5) SHORT THE WEAKEST ( REVERSE FOR LONG OFCOURSE)
6) IGNORE ALL CHART PATTERNS THIS IS 2007 AND NOT 1800 .. EVERY BODY SEES THE SAME CHART PATTERN AS YOU DO AND THEY FLOOD THE PATTERN HENCE THE FAILURE OF YOUR ANALYSIS .. DOES IT TAKE A BRAIN SURGEON TO UNDERSTAND A FANTASTIC AND PERFECT PULL BACK PATTERN ON ANY TIME FRAME GETS FLOODED BY NAIVE MARKET PLAYERS AND HENCE IT FAILES,,, SUPPLY AND DEMAND,, TOO MUCH INTEREST RESULTS IN TOO MUCH VOLUME HENCE THE FAILURE.. BY THE TIME THE PULL BACK HAS EVEN PULLED BACK FURTHER TO COPE FOR THE HUGE DEMAND YOU HAVE HIT UR STOP AND THIS IS WHERE GREY1 GETS INTO THE TRADE ( I SUPPOSE THE VOLUME EXPERTS JUMP TO THE DEFENCE OF TOO MUCH DEMAND HENCE PRICE RISE SYNDEROM .. )

7) IF YOU WANT TO TRADE THE CONSOLIDATION TAKE PROFIT FAST ,, DONT FALL FOR LET PROFIT RUN CONCEPT ,, THE TREND DOES NOT RUN DURING THIS PERIOD,, TAKE IT FAST OFF THE TABLE..

8) LET PROFIT RUN AFTER 7 .. YOU MUST DO THIS,, NO MATTER WHAT .. LET IT RIDE..

9) IF YOU ARE IN A TRADE AND MARKET SPIKED TWICE AND YOUR POSTION DID NOT RUN INTO MUCH PROFIT THEN CLOSE FAST .. IDEALLY YOU WANT TO BE IN STOCKS THAT ARE AHEAD OF MARKET AND NOT BEHIND.

10 ) STOPLOSS IF 10 MIN MACCI INDU CHANGE DIRECTION ,,,

THE SECRET OF BECOMMING WEALTHY IS NOT DAY TRADING ,,, GET INTO INVESTMENT .. LEARN FUNDAMENTAL ANALYSIS ,, ONLY TRADE PORTION OF UR $$ ON DAY TRADING .. USE DAY TRADING FOR POCKET MONEY


GREY1

Good points Iraj. I incorrectly analysed the day from kick-off as a trending day and stayed married to that idea for the entire session, even though it was more clearly a ranging day.

Had I done my prep correctly, I would have switched to pair trading off VWAP rather than taking outright directionals, but even that, I suspect would have been mean, tight and tough yesterday.

Let’s see how today pans out.

Grey1 said:

The sofrware is my own which containes all the strategies that i have been explaining on this BB during the last past few years. All code is in Easy Language and uses API to connect to IB platform .

GREY1

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Thanks.

Easy Language. A misnomer for some perhaps, including me.

How long did it take to get up to speed?

Easylanguage is the coding language for Tradestation so will need that as well and, in particular, the option that comes with Radarscreen. If is not difficult to learn once you have it.


Paul

Thanks for your reply Grey1. Paul, I am not conversant in Easy Language. Can you assist with setting up the MACCI/VWAP/MPD bands into radarscreen?

YM looking negative

Tafita

Just closed my OVER NIGHT short COST as seen

grey

tafita said:

Thanks for your reply Grey1. Paul, I am not conversant in Easy Language. Can you assist with setting up the MACCI/VWAP/MPD bands into radarscreen?

YM looking negative

Tafita

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Have you got vwap as an option to be in Radarscreen ?

If necessary I will send Macci that is setup to work in RS

Paul

Yes Vwap is there as an option

no more trading as i have to disappear for the day ,., see u all on Monday