4 years ago I spent $1000's of dollars and a year of my life developing an automated code for esignal and interactive brokers. On 5 min charts when using the same stock i.e. amat, I had 58% winning trades on a average dayless transaction costs. I basically broke even in the majority of cases as stock usually traded in a narrow range/volume.
This improved if I only traded after lunch in US.
But on a rangier trending stock usually moving on news, the system was obviouly more successful.But I couldn't find a stock scanner at that time that would lead me to potential setups on different moving stocks. Can anyone help find a scanner and suggest best criteria?
I found there to be many break even and small disciplined losing days using the system, but the big days would probably make up for it if the stocks could be found that could potenially move a couple of points.
You could also use the code for scalping the qqqq on 1 min charts, I had 80% winning trades with an adjustable stop loss.
But again trade costs wiped out my 20-30$ profits on a 1000 shares i.e. 13$ round trip trade costs and not forgetting slippage as well as the occasional disciplined automated stop loss.
Therefore where can I find low low transaction costs on the promise of 100's of trades a month?
I now have a bit more money behind me and can take a few months off my job to pursue the dream, can anyone help me? I have a great programmer helping me develop the code but he's not cheap! We did talk about creating a semi automated stand alone scalping program just running off the IB data feed and forgeting esignal.
Why use a code instead of my brain you say, well less stress and higher discipline have somthing to do with it! If anyone wants to come in with me to develop this thing let me know.
This improved if I only traded after lunch in US.
But on a rangier trending stock usually moving on news, the system was obviouly more successful.But I couldn't find a stock scanner at that time that would lead me to potential setups on different moving stocks. Can anyone help find a scanner and suggest best criteria?
I found there to be many break even and small disciplined losing days using the system, but the big days would probably make up for it if the stocks could be found that could potenially move a couple of points.
You could also use the code for scalping the qqqq on 1 min charts, I had 80% winning trades with an adjustable stop loss.
But again trade costs wiped out my 20-30$ profits on a 1000 shares i.e. 13$ round trip trade costs and not forgetting slippage as well as the occasional disciplined automated stop loss.
Therefore where can I find low low transaction costs on the promise of 100's of trades a month?
I now have a bit more money behind me and can take a few months off my job to pursue the dream, can anyone help me? I have a great programmer helping me develop the code but he's not cheap! We did talk about creating a semi automated stand alone scalping program just running off the IB data feed and forgeting esignal.
Why use a code instead of my brain you say, well less stress and higher discipline have somthing to do with it! If anyone wants to come in with me to develop this thing let me know.
