Mr. Charts
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Best Thread How To Make Money Trading The Markets.
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just playing with stock platform which I often do when waiting for something to happen with my FX pairs.
This one (SHLD) might have suited you?
The yellow horizontal line is where the long was supposed to be from(74.78) but I was a big naughty and jumped the gun, pre-empting the move. Naughty. Worked this time though, although, the 'correct' entry would have been just fine too!
This one (SHLD) might have suited you?
The yellow horizontal line is where the long was supposed to be from(74.78) but I was a big naughty and jumped the gun, pre-empting the move. Naughty. Worked this time though, although, the 'correct' entry would have been just fine too!
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Mr. Charts
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Hi timsk,
Yes !
I'd not tried interactivebrokers' data feed, charting, level2 T&S, scanner etc for a long time and when one of my private site members mentioned they'd updated their product I had a look.
After testing it for a week my daily profits were just as good as when using esignal, so, after more than 10 years' use, I cancelled my esignal subscription yesterday.
An instant saving of more than £2200 per year.
Richard
Yes !
I'd not tried interactivebrokers' data feed, charting, level2 T&S, scanner etc for a long time and when one of my private site members mentioned they'd updated their product I had a look.
After testing it for a week my daily profits were just as good as when using esignal, so, after more than 10 years' use, I cancelled my esignal subscription yesterday.
An instant saving of more than £2200 per year.
Richard
Mr. Charts
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Yes, it almost completely wipes out the cost of high quality data for my members too, as I've shown them over the past week I can get similar profits without paying a data provider 
Richard
Richard
I did wonder as well why one could not survive using your method on IB's data feed, charting, level2 T&S, scanner etc only, and save paying the extra for eSignal's scanner, level2 etc. Thought there must have been something I was missing. So, I am glad you have shown one does not need/have to pay the extra for eSignal.
Quite important to reduce costs as much as possible for a newbie just starting out, especially the fact that the first few months would be mostly paper trading and/or using very small stakes.
amit1986
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Odd how I also cancelled my eSignal subscription not just 2 weeks ago! Got to admit, though, eSignal is a bit easier to navigate, but not substantially. Hasn't made much of a difference on the bottom line either as today using IB charts and data has resulted in some nice gains.
Mr. Charts
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Dan,
You have email.
gktk,
Thanks for your comment.
Amit,
Great stuff, man
I agree, IB is a bit clunkier and the scanner is not as good, but is still adequate.
I might get another scanner, not sure yet. We'll talk about it if I do.
Richard
You have email.
gktk,
Thanks for your comment.
Amit,
Great stuff, man
I agree, IB is a bit clunkier and the scanner is not as good, but is still adequate.
I might get another scanner, not sure yet. We'll talk about it if I do.
Richard
Hi Mr Charts,
Its been, I think, a year or two since I proactively used this site but for some reason I came across your thread here and read it from the start. Its great stuff and I just wanted to say 'thanks' for all the effort you have put in to this thread and 'thanks' for the content.
I actually traded this way today and, as it happens, made a profit.
Cheers
Steve
Its been, I think, a year or two since I proactively used this site but for some reason I came across your thread here and read it from the start. Its great stuff and I just wanted to say 'thanks' for all the effort you have put in to this thread and 'thanks' for the content.
I actually traded this way today and, as it happens, made a profit.
Cheers
Steve
Dan,
You have email.
gktk,
Thanks for your comment.
Amit,
Great stuff, man
I agree, IB is a bit clunkier and the scanner is not as good, but is still adequate.
I might get another scanner, not sure yet. We'll talk about it if I do.
Richard
Does anyone have any tips about spread betting on the DOW. I quite like the idea of S/B and I quite like the way the DOW moves. I used to subscribe to Ed Down's Nirvana system, but I have read some comments on this site that they are not that impressed.
Maz3755
market_bull
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Would just like to echo this comment and say I was pretty impressed with the thread - although I did not read through the two year archive myself. I like the overall tone of it, though. "Good methodology and self-discipline = ability to make a profit.
MarketBull - for me, some really important messages stood out. A big one was being prepared (in your head) to take several small losses or BE's whilst 'waiting' for the bigger win. Of the 7 trades I took only 2 of them made me overall profitable.
Cheers
Steve
market_bull
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I think it's a very realistic way to go about it - and it makes sense. There is no such thing as always being able to make a profit, but the mindset is with anything else: if you think you'll suck, then you will suck!
And sucking sucks! So, no sucking allowed!
Andyclockwise
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Hi Richard, I've only just got around to reviewing these trades. I notice on the QSFT trade that after the entry point, the next candle shows the share price rose by around 50c before resuming the downward trend. What factors made you stay in the trade at that point, as I know I would have exited for a loss if I had taken it.
I did wonder as well why one could not survive using your method on IB's data feed, charting, level2 T&S, scanner etc only, and save paying the extra for eSignal's scanner, level2 etc. Thought there must have been something I was missing. So, I am glad you have shown one does not need/have to pay the extra for eSignal.
Quite important to reduce costs as much as possible for a newbie just starting out, especially the fact that the first few months would be mostly paper trading and/or using very small stakes.
Very interesting
I think i might cancel too. What are the main disadvantages? I did try Ninjatrader software once with an IB data feed. Was not great.
I'm frustrated with E-Signal 11 as its so unstable. Perhaps its worth investigating just IB data/software alone. The cost savings are attractive.
Mr. Charts
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That's interesting. I have been trying to learn how to day trade using eSignal for 2-3 months now, which is really expensive I have to agree. What's more interesting, is that due to Australia's time differences, I am restricted to trading ONLY the first half hour (11:30pm-12am local time). Come daylight savings in October, I would probably have to stop altogether as market would open 1:30am local time.
Definitely would explore the option of cancelling my eSignal subscription and use solely IB if the seasoned professionals say its possible!
Just wondering though, with IB, which trading tools and what screen setups Richard or other traders on this forum use for level II quotes/entering trades. The "market depth (level II)" + "Time and sales screen" OR "Integrated stock window" OR "Book trader screens"? (plus the charts obviously)
I expect i'll be using the buttons on the chart for order entry. See Mr. C's chart above. These i'll set with my default size and order type etc.
Currently trying to create some sort of layout using IB's TWS. There are desktop screen dividing programs which would allow the floating windows to be locked to one position on the screen so that i don't just have lots of windows overlapping eachother.
For L2 and T&S I'll just use the IB windows. Stripped down a bit so as not too much screen space taken up.
It´s all definitely clunkier than e-signal but for the price, what can one expect!
