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Hello All. Interactive Brokers TWS does not seem to have the IMI (Intraday Momentum Index) indicator. Is there an indicator on IB TWS that does the same thing as the IMI please? Thank you

Sorry, may be I did not make myself clear. I meant what market of the SPY are you using for your SPY chart? When I try to open an SPY (on my broker platform), I get a list of SPY markets - stock, futures, options, cfd etc. So which one do I choose to open? Thanks

Many thanks for the response Simple trader. Just one more question, which SPY market do you use, the stock, futures or option? Thank you

Simple trader, I have got some questions if you do not mind: 1) The SPY you are using, is this SPDR S&P 500 ETF Trust? 2) What time frame of the SPY are you using? 3) What time frame do you use for entries/exits, as I see your images show a 1min, 5min and 15min charts. 4) Could you please clarify your entries and exits (in terms of what you want to see the stock doing compared to SPY that makes you to decide to enter or exit)? Not very clear from your examples. Thanks

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Thought I had found a solution to my question above, hence reason I deleted the question. However, I haven't, so I am posting the question again for assistance. Thanks Going through the normal process of attaching a condition to an order as available on TWS, one significant restriction there is that a stop order is not allowed in the the condition, only a limit order. Why this is the case beats me! This makes it impossible to achieve what I want to achieve which I will explain with an example below: AUDJPY price is currently 87.92/87.93. I want to buy 25K AUDJPY when price breaks 88.40, attached to this is a bracket order with take profit at 89.40 and stop loss at 87.92. At the same time, I want a sell trade to be submitted (ONLY when the above buy trade is triggered) to sell 25K AUDJPY at 87.92 with a bracket order of take profit at 86.82 and stop loss at 88.30, so a sort of 'Stop and reverse' order. Unfortunately, as the conditional order function won't allow a sell stop order, just a sell limit, there is no way for me to specify a price condition for the sell trade to trigger only when price is equal or greater than 88.40 (signifying my buy trade would have been triggered). Any ideas/suggestions of a way around this?

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Dear Db, A man with your vast experience and knowledge, I would appreciate your thoughts/advice/experience on the most effective money management/profit taking/loss limiting you have found to work wellmwith this method - SLA/AMT, or that you use generally in your trading. Move stop to breakeven and leave postion to run or die? Close half at breakeven and leave the other half to run? Close half at a specified target (breakeven and some) and leave other half to run? Or any other method(s) you use if you do not use any of the above. Many thanks The "most effective" anything will depend on the individual and on what he trades. The characterization process, risk, and the testing protocols are addressed in the book.

Sir DbP, thank you most kindly for your time and patience in responding to my questions.

Hi Db, I know you favour/generally trade the futures with the SLA/AMT. My questions are: 1) Will SLA work with other instruments like stocks and forex? I know you intimated a while ago that AMT might not as these instruments are not 'mean reverting'? The SLA applies to any auction market, as does auction market theory. But a mean-reverting instrument is easier to trade as it is easier to anticipate moves, or non-moves in the case of chop. What is equally important to the trader is knowing how to recognize bottoms and tops and coming to terms with his tolerances for information risk, price risk, and time risk. I became interested in futures because I got so tired of the gapping back in '99-'00. Futures are 24/5. And of course that idiotic PDT rule. 2) Does the SLA work on all time frames, especially higher time frames - H4, D1 etc? Yes. I'm unfamiliar with those designations, but yes. The condensed version uses an hourly interval, but Appendix G in the book explains how to apply it to intraday trading. The earlier "intraday" thread addresses that as well. I should point out, though, again, that the SLA is not suitable for scalping; you'd get stopped out too much. Though I watch the 5s to see how buyers and sellers are interacting with each other, I find the SLA to be of little use below the 1m. 3) Why does the SLA work, considering the fact that the trend lines will be different for different time frames? If one follows Wyckoff's suggestion to begin with the weekly and zoom in to your locus of interest, the trendlines don't change. The weekly trend is what it is. Those trend lines transferred to a daily chart or hourly chart simply provide a more detailed view, like Google Maps. One can have shorter-term trends within longer-term trends, but these are more accurately found using demand/supply lines. If one doesn't know the difference, this can be confusing. At some point,though, all this becomes irrelevant. The point is to track the balance between demand and supply. The lines are simply a way of staying on course. Unfortunately, I used them too much in an earlier draft to illustrate what I was seeing, but many people latched onto that and began filling their charts with all these lines which in some cases completely obscured the price movement. So I had to throw all that out and redraw the charts that remained. Now, I hope, the focus is where it should be: price. Thank you.

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Thank you most kindly sir. I shall head straight to the ninja site.

Hello all. Just finished reading this thread - part IV, got 7 more to go. Got a couple of questions please if anyone could assist: 1. Can this strategy be applied to trading stocks, especially US stocks? 2. Anybody knows whether some kind person has managed to program these indicators (PVP, VWAP, SD etc) for any of the free charting software out there like Tradelink or Ninjatrader? I think Tradelink uses easylanguage, though not 100% sure. Many thanks Dan

Thanks uexkuell. I did manage to figure out the above as well. Just to check, will the volume be the total volume of all the bars, and count (the number of trades) be the total count of all the bars? The only one that I haven't got a clue about is the WAP (weighted average price) i.e. how would I compute the WAP for say the 5-minute bar from the 60 x 5-second bars? Thanks

Thanks uexkuell for your reply. Could you explain further please? The real time bars data is displayed in excel in the following columns: Open, High, Low, Close, Vol, WAP, Count. So, are you saying that I create a variable for each and say store 60 x 5 second figure for each - Open, High, Low, Close etc. Now, how do I 'compute' say the Open for the 60 x 5-second bars (the 5-minute bar)? I don't think it is a case of adding them up and dividing by 60 or something, is it? Thanks