MidKnight

Kospi is roughly $25 USD a tick. Although the won has taken a hammering over past 6 months, but should be close enough for approximation.

Hi bathrobe, Yes you can do that in BT. It will open a separate order line, but you can join them and that will reflect the average price. By opening a separate order line, this gives the trader the flexibility to easily remember where their original entry was and then scratch it out. You can switch between these two views when you scale-in by using the split and join feature. I haven't used BT in a couple years, but search the reference doc to see what I mean. All my best, MK

Thank you for the idea, I was posting in forum hoping to tap the userbase. With kind regards, MK

This shows the correct symbol to use for the Osaka traded Nikkei mini and here is the error message I get back from the software. It just isn't recognizing this a futures symbol - how come? I have created a futures type of NI225_M. It would be great to get this working. I can only test it out in real-time data.

Maybe the problem here is that IRT/MD does not have the necessary exchange available for Japanese products? The esignal exchange symbol for Osaka futures is OSM. The esignal exchange symbol for the Tokyo futures it TPX. Neither are available in the exchange dropdown of futures setup. I have tried the OSE.JPN exchange shown there but that made no difference either - looks more like an Interactive Brokers exchange.

Just thought I'd add some more information. It's not recognizing my futures type of NI225. Here is my screen from the futures type setup and the instrument setup....

Hello, I have no idea what might be the problem here. I am sort of familiar with the IRT/MD software of which I was an avid user about 2 years ago. I have recently resigned up to re-evaluate its usefulness to me but am stuck getting it quote me all the data. I'm only tracking two symbols, both are foreign futures markets (esignal symbology NI225 M9-OSM and NI225_M M9-OSM). Both have been 'setup' according the how to setup symbols video. Interestingly, when I have tried to set them up, the software is telling me they are invalid futures types. No idea why, I have setup the futures type for NI225 and NI225_M. Both the symbols are setup with the appropriate session start times relative to my current locale (GMT+12). This all seems to work fine for historical data requests. I can chart these symbols, and backfill their tick data. I can even get real-time price quotes, but I get NO volume data. The T&S screens show zero for volume. The footprint charts show 0x0 on all the real-time ticks. I don't understand what is going on here. The .Futures quotepage shows the day volume accumulating for every tick. Please see the attached screenshots. My sincere thanks in advance for any insights provided. With kind regards, MK

I found this post on "The Normality Assumption and Fractal Nature of Asset Prices" interesting and have nominated it accordingly for "Topic Of The Month March, 2009"

Evidence Base Technical Analysis by David Aronson was a good book. Its all about finding an edge objectively. Trading like a hedge fund by Altucher will give you some ideas to try out. Test them out Aronson style.

Definitely the Vitamin Bs, especially follic acid. Crucial for a healthy nervous system. A good vitamin B complex will do the trick, look for a follic acid 400mcg or higher. Your body doesn't store it, its a use it or lose it thing so you need to keep it available. All my best, MK

And may I add to what Kiwi has been saying John. We already pointed out that the numbers you gave for your friend won't make money long term. If you need proof of this type of R:R. Check out don miller's journal which has a fully audit able track record for 2008. You also make the assumption that someone with this style won't improve and lower the R:R inversion and/or better their win%. My best regards, MK

Hi James, Thanks for the info. I thought TSE was supposed to have upgraded their systems by now? What sort of product is this mini nik cash thing? I assume TFX means Tokyo futures exchange?

Keep your mind open John. Many many ways to make trading work. The numbers you showed though, has a negative expectancy. He needs better than 80% or a slightly less inverted R:R to make money. What he has now will lose money due to comms in the long run if the numbers you gave are stable.

Just read this headline. I wonder what this might mean for the OSE, and more importantly, for us as traders. "OSAKA (Nikkei)--The Osaka Securities Exchange said Wednesday it has agreed to form a business alliance with Nasdaq OMX Group Inc., which operates the Nasdaq stock market in the U.S."

One can't really say if he is wrong without more information. How large is his sample of trades? What is the % winner? Does he either take the stop or the target, or is that just his initial placement when the trade begins and then it is modified later. Most successful scalpers that I know of do have the r:r in reverse or at beast 1:1. I've seen many that have it at 2:1 or 3:1. Its just another way to do it. Both ways can work.

Hi AgeKay, I don't understand your distinction here. Limit buy orders can appear on the offer and still be icebergs. They would appear on the tape as if they were market orders but one cannot assume they are. With kind regards, MK

LOL @ TCE. That's a funny post James. I agree regarding holding through lunch. That type of re-open gap is highly unusual. It was like 1.5% gap up. Rare indeed. Monster trend in the afternoon too. Such fun.

So at 21% winners, if you do 1 trade a day (5 per week) you can expect them all to be losers about 31.5% of the time. At 2 trades a day (10 per week) you can expect them all to be losers about 9.9% of the time.

No sir - that is the point. If you keep making changes after every down week after only 5-8 new data points (trades) in your sample stats then all you are doing is curve fitting to hindsight based on inadequate samples. As I have already said, getting 8 losers in a row from a 30% win system is very likely. If you just did 1 trade a day, there is a 17% chance that all trades will be losers for the week. At 1.5 per day, there is a 7.3% chance that they will all be losers for the week. Not so hard to accomplish. Yes, it takes time to build your sample size up. That is part of it. Just because it takes time, doesn't mean one should approach system development any different in my opinion. I've thought about posting this to you since your very first down week last year but decided against it thinking that maybe you learned something new that improved things. However, your pattern has been that every down week you have, you make changes based on that week and somehow find a way to make everything work out just fine. It took me years to see this same error in my ways. Have a think about it. There is nothing wrong with +20NQ points in a month. I'm not sure why you say that is crappy. Markets change themes and with them comes a variation in opportunity. Accept it and do the best you can. With kind regards, MK

I think my post went right past you....I'm not talking about your rules being specific or ones ability to increase size. I'm strictly referring to your %w relative to a weekly sample. With the %w you are exhibiting it is very easy to get an entire week of all losers. Yet just the other week you changed your trading rules because it was a down week. You need to work in bigger sized samples. I'd suggest at least 30 trade samples at a minimum. Some people will generate that sample size in a day, others in a month or more - it doesn't matter how long it takes. Making changes after a 1/2 dozen trades is not allowing for the true nature of a system to shine through.

If you are so clear and understand about short term variance, then I must ask, why are you revamping your trading plan after a down week when you only do 5-8 trades per week? You are taking that tiny tiny sample out of context.

Hi Jasont, It is easy IF you go there in person. I did this for one my entities about 3 years ago.

cleon, As DT v3b stated above, Neo has time dist indicator (and distribution plot). While it is useful, I instead knocked up a simple tool with flexibility to mine whatever I want and allow the data to be easily exportable so I can pull it into R. You will always have to code stuff stuff like this because few people find a need for it, as most still want your MACDs and Stochs..... Best of luck, MK

Hello, I do this type of simple data mining with Neoticker and R.

That's funny, I got this one yesterday in email on the same topic.