[AgeKay]

Thanks brownsfan. Sorry, did not look at the date. This thread popped up on the front page of Trader's Laboratory, so I assumed that it was current.

Well maybe, Soultrader, if you read this, would you mind updating this thread with your current "tools of the trade".

[Soultrader]

Originally Posted by RobinHood »

Soul just wondering how your setting out your T&S.

E.g., at ask color, above ask, at bid, below bid, between.

I noticed you have some with green background white writing, some with +, some white foreground and black background, and then red foreground (which I assume is @ bid and red background being below bid). Is this right?

I like the look of your T&S so want to copy.

Hi Robinhood,

Sorry for the late response. I actually no longer use TS and cant seem to remember how I adjusted the preferences. Green represented contracts at the ask and red at the bid. White was contracts traded in between (according to TS.. no idea what this means). Hope this helps.

[Soultrader]

Originally Posted by AgeKay »

Thank you Soultrader. Very interesting. I was always wondering what kind of tools you use and what you use them for. It would be very cool if more traders share their "tools of the trade".

Do you use the same tools and layout for every market? I had the impression you were also trading Japanese or Chinese markets.

Different tools for different markets. Mainly because certain tools are not available on other markets. Like $TICK is for US.. not available for the Nikkei. However, since the bid/ask is thick... the Nikkei tape is alot more important for my trading compared to ES tape. KOSPI for example... I just use price, volume, and market profile.

Hope this helps.

[gooni]

FYI TICK is available for the KOSPI. However, it is very heavily weighted towards a small number of issues, namely:

- Samsung along is 13.6%
- The top 5 are 32%
- The top 30 are 68%
- The top 50 are 80%

So the last 150 stocks make up only 20% of the index.

Given this information, would a custom TICK that only included the top 30 to 50 stocks be beneficial? Or is the TICK actually more useful because it does indicate broad market sentiment?

These days, I tend to think that the most active stocks in each particular sector should be chosen. That way you get a broad but indicative view of market sentiment, without having stale issues skewing your statistics. Of course, in NeoTicker, I can calculate a custom TICK like this for myself..

[ammo]

you should use the most heavily weighted because if they are trading a basket against the future,(arbitrage),those are the stocks they will hit, and when they move, the future will also. They only use a small number of heavily traded stocks in a basket,GE doesnt move that much but it is a heavily traded stock in volume terms,the most heavily traded stocks on avg are the ones that are being used in the arb baskets

Thanks guys, my first day paper trading think i kind lost it. Made about 34 trades (enter/exit executions) in the first 50 mins