plans with traderdna?

[darthtrader]

Hey James, can you get into what you have planned with the tradersdna button at the top?
Did they ever give a price for it? I think it sounds like a fantastic tool. I think the problem is going to be for me that as a small newb pit noise and market delta are also tools I would love to have but at 300 a month each its not happening.
I wonder if they would be open to giving a bigger discount based on account/how big(small) you trade?

[Reaver]

I am still unclear on how the whole thing works, even after reading about it...I get the concept, but the application part isn't hitting on all cylinders with me.

I'd definitely like to hear more about it as more information becomes available.

[brownsfan019]

Nate - my understanding is that if you get TraderDNA to 'talk' to your brokerage firm, all your trade info (date, time, enter price, exit price, etc. etc.) is then run through a program that will produce some impressive reports on your personal trading - when do you trade best? worst? are certain days better for you? etc. etc.

I really liked what I saw so I have been pushing Open ECry to get their api to talk to TraderDNA this way NO inputting is done on your end. That makes life much, much easier.

As for how James will use it, not sure yet.

[Reaver]

Brownsfan,

Hey man that sounds pretty cool! Thanks for the info. that would most definitely be an excellent thing to be able to look back on and analyze!

[darthtrader]

hey brownsfan,
first, i'm totally sold on the product. If i were you I would go for it in a second because the % cost of your pnl month to month is going to be nothing. Every usefull trader tool besides this website has not been worth the % cost of my pnl that i've found though. Maybe that line of thinking is a mistake but its hard to shell out that much up front with total certainty month to month. To me this tool is much different though as the most utility will be gained from super newbs and then fade out as trading experience is gained. I think it would be a smart move to have the "newbie blowout traderdna limited time special" business wise, link it to this website even. Unless its absurdly cheap(not worth traderdna's time) I don't see how you and I can be paying the same price from a value perspective.

[brownsfan019]

darth - hopefully Open ECry will get it done w/ TraderDNA soon. I am very anxious to see my actual reports as I've seen some demo's. It would be nice to state with no hesitation that my most profitable trades occur when XYZ lineup.

[Soultrader]

Hello guys,

I havent tested out TraderDNA and they are getting the portal done for our site at the moment. From what I hear the cost ranges from $50-$80 a month. But I will check to see for sure and any possibility of offering free trials. TraderDNA is not your typical trading vendor where it tries to rip less informed traders. It is a way of trading analysis to help you understand yourself better as a trader. Whether you take advantage of the features and find the data useful is up to each individual trader. I think tingull had a test run some time ago, I'll see if I can get him to discuss some of the features on this thread.

[TinGull]

TraderDNA is more fabulous the more you trade. For me, I don't take many trades each day, so seeing the printouts of my trade trade shapes and such isn't as needed to me as if I were trading maybe 5+ trades a day.

For my platform with TransAct, TDNA doesn't "talk" to the broker. You input a .csv doc that you exprt at the end of each trading day and then upload it to the TDNA servers. From there they match up the times you traded taken from the document to the historical data they acquire and mate the two together to get your charts that you can download.

Regarding brownsfan's comments...I wasn't ever made aware that TDNA actually "talked" to your broker. In talking with the creator this wasn't anything he ever mentioned to me. Maybe it was just something that I didn't ask directly enough about, but he always states that you must actually log the trades into the TDNA logger manually. In watching the videos on each platform they currently support, this is the way it's done there too.

So, TDNA would be really quite amazing for people who take more trades per day than I do. I just found it tedious to export my trade logs and upload them to their server when I was trading maybe 5-7 times a week. With TransAct they keep only 1 day of trade history whereas like JTrader will keep a rolling 4 days of history. If that was the case with TransAct, I might have kept up with the logging.

Overall TDNA could useful, just not seeming so for me.

[brownsfan019]

Tin - they do support some brokerages now and plan to add more. Once the brokerage and DNA are hooked up, you do not have to enter ANYTHING manually. That's the beauty of the software if you use a broker that is on the list.

[TinGull]

Very nice! I wasn't made aware of that, so that's cool to know 'cause that was the most annoying thing for me.