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firewalker

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Average week. Good trades on Monday, Tuesday and Wednesday.

 

Bias on Thursday prevented me from taking the long side.

 

Missed trade on Friday, because the train left the station right at the open, although it was screaming at me for a short from 13030. Bit of frustrating there.

 

Lessons learned:

 

(1) it's really imperative to be able to switch from short to long and vice versa within a matter of seconds

 

Bias is a terrible habit and I know what you mean although my bias is slightly different problem (shorts just make more money! fact!) but I find having less data on the screen makes me analyze the now only and not think about the bigger picture and it eradicates the bias.

 

(2) if there's a clear cut trade 15 to 30 minutes before the open, I'm going to enter a small part of my position and add later, unless there is news. Been contemplating that a lot recently, and each time I tell myself to wait for the markets to open, it runs off without me :frustrated:

 

Thats just another reason to trade FX, we never close!

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Wow! You are all up early! Thanks for all the replies!

 

I am abit slow on the computer.... Let me check all these out, might take a few minute! Thanks!!

 

Workaholics and lots of... :coffee:

 

Mind you, not that Kiwi bloke, It's Saturday night for him and he is in his office working!

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I find TWS to be a bit slow when I try to draw on the charts or use the chart trader it oftens get stuck for about 5-10 sec.

 

I think the charting software is more important and if possible, it can be loaded from the web like TWS as I cannot install anything on the work computer. Thanks!:applaud:

 

Have you tried running the latest Java 1.5.xxx?

I had trouble using 1.6 in the past...

 

Does this mean I have to downgrade my Java?? I am currently using 1.6_05.

 

TWS is great. Not slow. Not stuck here.

 

I use Sierra Chart to chart the data and as a front end for order entry and management.

 

 

 

 

>> core2duo 8500, 4G ram, XP, TWS&SC run on a Ramdisk both with priorities set to Above Normal, TWS 882.2, Java 1.6_06 <<

 

Command line for max efficiency & speed:

 

C:\Program Files\Java\jre1.6.0_06\bin\javaw.exe  -cp jts.jar;pluginsupport.jar;jcommon-1.0.0.jar;
jfreechart-1.0.0.jar;jhall.jar;other.jar;riskfeed.jar;rss.jar -Dsun.java2d.noddraw=false -server -Xss128k 
-Xms256m -Xmx256m -XX:NewRatio=3 -XX:+ForceTimeHighResolution -XX:CompileThreshold=50 
-XX:ThreadStackSize=192 -XX:+AggressiveOpts -XX:+UseFastAccessorMethods 
-XX:+RelaxAccessControlCheck -XX:MaxInlineSize=8192 -XX:-DontCompileHugeMethods 
-XX:+UseConcMarkSweepGC -XX:+CMSIncrementalMode -XX:+ExplicitGCInvokesConcurrent 
-Xnoclassgc jclient/LoginFrame R:\Jts', 'R:\JTS' )

 

Sorry how do I use this code? I have an Intel Macbook running Vista on bootcamp.

 

My destop is DuoCore with 2 gb ram.

 

Is it slow due to my computer being over a year old?

 

Hi G,

 

Do you mean charting or broker?

 

Hi FW and all,

 

How was everyones week?

 

the WHC metatrader offers futures and stocks (and EVERYTHING else) if you need a separate chart program for free and low useage?

 

http://www.fastonlinetrading.com/terminal.html

 

This looks very useful, but I seem to only be able to get forex data. Will I have to pay fees to get the futures data?

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I find TWS to be a bit slow when I try to draw on the charts or use the chart trader it oftens get stuck for about 5-10 sec.

 

 

The charts tend to be crap indeed! Especially slow on backfill etc. Most people us an external charting program and IB as the feed.

 

I'm not sure if downgrading Java would help, if the problem is related to charting.

But you can try... I suggest you uninstall it first.

 

2Gb should be more than plenty.

 

This looks very useful, but I seem to only be able to get forex data. Will I have to pay fees to get the futures data?

 

You'll have to ask wasp, he cracked the thing ;)

I'll have a look at it myself this morning.

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This looks very useful, but I seem to only be able to get forex data. Will I have to pay fees to get the futures data?

 

If you;

 

Click 'view'

 

Select 'Market watch'

 

Right click on any quote

 

Select 'Show all'

 

You should then get everything under the sun. It will be free.

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The charts tend to be crap indeed! Especially slow on backfill etc. Most people us an external charting program and IB as the feed.

 

I'm not sure if downgrading Java would help, if the problem is related to charting.

But you can try... I suggest you uninstall it first.

 

2Gb should be more than plenty.

 

What program do you use? Thanks

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If you;

 

Click 'view'

 

Select 'Market watch'

 

Right click on any quote

 

Select 'Show all'

 

You should then get everything under the sun. It will be free.

 

I got them all, ES, YM, NQ!

Nice! Are you sure these things don't stop functioning after 90 days? Even if you re-install them some programs leave traces in the register which invalidates any re-install.

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I got them all, ES, YM, NQ!

Nice! Are you sure these things don't stop functioning after 90 days? Even if you re-install them some programs leave traces in the register which invalidates any re-install.

 

When and if it says demo has run out, you go File > Open account > refill boxes > click scan + open........ hey presto away you go.......

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I use TWS too.

 

I mean for the charts~~

 

Stocks, bonds, grains, metals, oil, fx, indicies........ it has the lot.

 

This is so cool~~ And its much faster!! I can actually click and move the charts without it freezing!!!

 

One more question, have you guys heard of prorealtime? I was looking for some charting software to use in the office and came across this, looks quite good with the free account, but very expensive with the real time data, do you guys use it?

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I mean for the charts~~

 

 

 

This is so cool~~ And its much faster!! I can actually click and move the charts without it freezing!!!

 

One more question, have you guys heard of prorealtime? I was looking for some charting software to use in the office and came across this, looks quite good with the free account, but very expensive with the real time data, do you guys use it?

 

I believe GammaJammer likes it and I think Rols used it too but I found it limited, chunky, slow and expensive.

 

I don't see why anyone would pay for something they don't need? Of course, with FX as there is no central exchange you want to use the charts from your broker as that's the only way you are looking at the same thing tick for tick but metatrader should be spot on with anything centrally traded as they are open to arbitrages otherwise.

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I believe GammaJammer likes it and I think Rols used it too but I found it limited, chunky, slow and expensive.

 

I don't see why anyone would pay for something they don't need? Of course, with FX as there is no central exchange you want to use the charts from your broker as that's the only way you are looking at the same thing tick for tick but metatrader should be spot on with anything centrally traded as they are open to arbitrages otherwise.

 

Metatrader is awsome and I think its more than enough for what I use anyway. I agree prorealtime is very expensive.... I guess I will just have to stick with the slightly delayed Bloomberg machine at work and keep looking back and for from the webtrader.

 

Thanks guys, you have all been very helpful!!:beer:

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Just a quick question...

 

I have been looking through the Indices on WHC and IMO the NQ seems smoother, easier and larger moves...

 

Anyone enlighten me?

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Just a quick question...

 

I have been looking through the Indices on WHC and IMO the NQ seems smoother, easier and larger moves...

 

Anyone enlighten me?

 

Dbphoenix posted something about the difference between ES / NQ / YM / ER2 somewhere... can't really recall where but you should look it up, it was an interesting post. I believe your description fits pretty much why he prefers trading the NQ.

 

If you compare "large moves" don't forget to take into account the points value and the margin requirements. A 100 point move on the YM is a 25 point move on the NQ.

 

Also, the NQ has been much stronger than the other indices lately.

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Dbphoenix posted something about the difference between ES / NQ / YM / ER2 somewhere... can't really recall where but you should look it up, it was an interesting post.

 

You mean the "old lady" post?

 

I haven't studied FX so I don't understand it particularly well, nor do I understand the people who trade it. Without any of that, I'm flying blind, and why bother? And not having volume doesn't make things any easier. But if someone else wants to give it a shot, what business is it of mine?

 

As for the NQ, I played with the NQ, ES, YM and ER for quite a while, but I understood the NQ better. It appeared to provide more reliable S/R than the others, it had a wide enough range to offer decent trading opportunities (especially after the extraordinarily long dry spell of tight ranges in all the index futures), there was a lot of volume in it, and because of its constituents, it moved a little differently, often leading the others, generally acting independently. The ES has always reminded me of an old lady. The NQ is something more of a hell-raiser. The YM is something of a new guy who's trying to become one of the cool kids, but they haven't reached the point of letting him sit at their table at lunch. The ER is something of a toddler who can't make it from one end of the room to the other without banging into everything along the way.

 

There was also this from the same post, and it seems to be pertinent to what you two have been discussing:

 

 

It's easy to say that this or that bar is "no demand" or a "test" in hindsight. But when the market is open there can be conflicting signals and I don't yet completely understand how a trader can identify the right spikes in volume as demand/supply/etc, especially on such a low timeframe as the 1-min charts that have been posted here.

 

 

That's why I've come to rely more heavily on support and resistance and what happens there and pay less if any attention to what may or may not be signals that happen elsewhere. For a long time, I thought of the lower timeframes -- particularly the 1m and lower charts -- as being "noise" because everybody said so. And they certainly seemed so. But then I realized that they seemed to be noise only because those -- including me -- who thought so weren't listening (sort of like the alien languages on Star Trek that sound like white noise on a radio). Then someone -- I forget who -- stated that, as far as the markets were concerned, there was no such thing as noise. It all contained information. That one may not recognize it, or understand it, was beside the point.

 

If you're going to have important S/R on the weekly at 1800, it's going to be there in every other timeframe as well. Other S/R levels will reveal themselves as one travels down through the timeframes, but he isn't required to trade every last one of them.

Edited by DbPhoenix

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Hi Wasp,

 

Is the stop for your GJ short 203.25 or 204.25?

 

Also, I am gonna start learning how to trade FX, as I work in FI and currency which means I can make full use of resources at work~~

 

One more thing, what contracts do you trade? I found the RY and PJY, but PJY don't seem to work.... Also, are there mini contracts?

 

Sorry for all the question.... Thanks~~ :thumbs up:

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Short GJ @ 203.90 stop @ 203.25

 

Short EJ @ 162.20 stop @ 162.45

 

Hi Wasp,

 

Is the stop for your GJ short 203.25 or 204.25?

 

Yeah sorry, my mistake, it would have been an interesting stop for a short, 75 points lower! :eek: :doh:

 

Also, I am gonna start learning how to trade FX, as I work in FI and currency which means I can make full use of resources at work~~

 

One more thing, what contracts do you trade? I found the RY and PJY, but PJY don't seem to work.... Also, are there mini contracts?

 

Sorry for all the question.... Thanks~~ :thumbs up:

 

If you look in FILE > NEW CHART > FOREX > then scroll to EURJPY and/or GBPJPY which is what I am trading, although only EURJPY this week, I just call it EJ for speed.

 

Mini are available and I know you could trade as small as 5p per pip with some of the bucket shops like Alpari. Is that what you need/mean?

 

If you are looking to trade FX, take a look through ''busy day tomorrow'' thread, read anything by GammaJammer and keep a view on here, it may help, but sure Firewalker will tell you different regards me! :shocked:

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Thanks Wasp. I shall have a good look at the thread.

 

This might sound like a stupid question, but do I have to open another account to trade on Meta or can I link it up to my current broker?

 

I am using IB at the moment. The contracts there are 125000x for EJ, abit too large for me...... :shocked:

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You are probably better off opening an account with Alpari (London based) and using them to practise. You can trade very small with them and use their Alpari platform. I don't think you can link metatrader and IB but you'd best check with someone like FW or Kiwi as I really don't know.

 

(PS. just going to move these posts over to the Off, yet on topic thread)

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You are probably better off opening an account with Alpari (London based) and using them to practise. You can trade very small with them and use their Alpari platform. I don't think you can link metatrader and IB but you'd best check with someone like FW or Kiwi as I really don't know.

 

(PS. just going to move these posts over to the Off, yet on topic thread)

 

Thanks, filling in the app now~~

 

Sorry for posting in the wrong thread.......:crap:

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Thanks, filling in the app now~~

 

Sorry for posting in the wrong thread.......:crap:

 

No prob's, we just want to keep this new place organised and tidy, so now we have mod abilities we can move things around so its neat and informative and easy to find.

 

That's the problem working in cahoots with bleedin' Belgian bureaucrats! :rofl:

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