i think the reason everything worked so well last week was the fact that VXX was in snyc with the q's. i don't know about the rest of this past week, but today for sure, the VXX and q's were off sync. i am going to post a chart of the q's vs the vxx later today. i have learned to just trade the chart and don't trade vxx according to what the q's do.
wow, what a rally. i thought nothing was going to happen all day.
decent first entry but stopped. after it made a hammer i went after it again. took trade off after break of the previous bars low, up trend over. i went to short it a few times and then realized it is hard to borrow at lightspeed. a few decent entries through the rest of the day but i sat on my hands.
up big, broke over the .50 alert i had. it then should a big nasty spread, about .10 to .15. so i waited to see what it wanted to do . when the bid came back to break even i closed the trde. no point in taking a .25 loss on a crazy spread stock.
today was a decent day spotting opportunities. i just need to push it. it actually makes me feel calmer waiting for ideal setups. if it wasn't ideal, i wasn't taking it. later in the day though, there were some good setups but i had to help a friend out with booking some rental equipment so i didn't trade at all just watched.
next week it is really time to get this game going. i know how easy it can be. i have seen it first hand. i just need to work on my mind this weekend. and work on accepting the losses. it is really silly how a small $10 loss on your first trade can annoy you. the problem is, i know the game is probability, but obviously, i am looking at it as a right/wrong situation. if i didn't have to be right, then i wouldn't be aggravated when i got stopped out. there is an online book called phantom of the pits and he says he went into every trade believing he was wrong and letting the market prove he was right. interesting point. but i think the ideal place to be is not right/wrong, but just probabilities. when folks play roulette, they see 8 blacks in a row, they bet on red, when in reality,the chance of red hitting (excluding 0 and 00) is again 50/50. each circumstance is unique and i need to accept it.
come on weekend.
heya bro - good job on the trades. Way to get back in on QLD, that move showed a lot of confidence.
ReplyDeleteQLD - so easy to look at it in hindsight and see the top of the move, but the real time decision is another place. I am getting to the place where I can look at the chart and see the real time play out - I think I would have exited right where you did.
Next week it is all our's for the taking.
Oh yeah - and I ran across these guys. Real tick and NT compatible:
ReplyDeletehttp://www.visionfinancialmarkets.com/securities/services/platforms/
Have you heard of them? Commissions are higher, and they have a fairly large monthly volume requirement, but it might be doable.
Real tick was not quite as bad as I recalled:
http://fearandgreedtrader.blogspot.com/2010/02/good-shorting-today.html#links
Not as nice as Lightspeed's ticker, but plenty of color.
Wish I could find a video of etrade's ticker.
Just noticed something else:
ReplyDeletehttp://www.lightspeed.com/?page_id=5101&tab=6923&tc=0
Looks like lightspeed has esignal available, which is compatible with NT. Hmmm...
lightspeed uses esignal as charting software. it was the same thing with the avnil (assent) platform. you used esignal to chart with. but within the past year, lightspeed put out their own basic charting software, and it is more than i need since i use quotetracker for any crazy indicators or chart signals that i want to look at.
ReplyDeletefrom elite trader:
"My Broker" - jackflash October 26, 2009 5:21 AM
Quote & Execution Speed
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I couldnt agree more with the preceeding post from heech...I have a great broker with them if you would like to contact him; JR Stegmueller 1-866-761-7197. Been with him for years and he is a real pro...give him a shout.
"Self-clearing FCM with great service/technology" - heech October 20, 2009 3:32 PM
Quote & Execution Speed
Range of Services
Training & Tech Support
Commissions & Fees
Overall Reliability
I stumbled onto Vision after evaluating numerous other brokers. It was mostly an accident rather than a sales pitch... Vision happened to have a technology platform (Ninja + Rithmic) that I relied on for my black-box trading.
But after 3 months with Vision, I'm a fan. It's surprising Vision doesn't get more attention, since they're a larger operation, and have more in customer segregated funds than Advantage or even IB.
The people I've dealt with at Vision are incredibly competent, ranging from back-office operations when clearing pit-trades, to the platform guys supporting their trading applications. Their web/account portal is also world-class, far better than any of the other futures brokers that I've seen.
The rates I'm getting are reasonable, albeit not as stripped down as some discount brokers may be. But I personally believe the service and reliability makes it worthwhile.
My only slight warning is that TT, CQG, and Pats are not available as trading software/front-end. But for those of you using ZenFire, then you're not losing anything by going with Vision.
Vision also has a reputation for aggressively selling CTAs through their IBs... which may be a consideration for some considering that route in the future. John W "Red Sox" Henry is running a program through them, in fact.
Of course, a lot of your personal experience will also depend on the actual salesperson or IB you sign up through... so choose carefully.
check out this link, not to burst your bubble. it says stock trading with ninja trader available 2010
http://www.visionfinancialmarkets.com/ninja/
so what is the plan, to tell them you want the real tick platform but you are going to trade through ninja trader? i wonder if they allow that. 1M shares a month is 100 trades a day of 500 shares, which for you i think is doable. the crazy part is, at .00795 * 1M = $7950. damn son, is my math correct. for that amount of commissions, the better pay for real tick, ninja trader, and buy you a steak dinner every night.
i checked out the real tick video. it seems fine. what i realized, it is just the fact that there are not well defined columns, there is no right/left/center alignment. if the stock has longer ticker, or more hits, then the red price sticks out further.
damn, good luck with all this. i would just keep getting different lightspeed demos and hope they don't tag your ip address and say, hey, you've had 6 demos already.
oops, its .0075 not .00795, slight difference, same story.
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