stanlyd

I also would like to chime in and request that the company name not be mark anymore in this post.That being said I think that a post like this does have importance. The stuff they are doing is getting into quant or financial engineering and that's something we don't get to many discussions about here on TL so maybe this will bring more of that. Although I have just started diving deep into this type of research I believe this type of cross over between tech/computer capabilities and markets is IMO the future of trading.

My though is if a long standing member who contributes often decided to post a link to a project they had been working on (such as a pay service) I would not have a problem with that. Now don't get me wrong. If it got to the point in which evertyone was posting things like that , well then a more severe set of rules would have to be kept to. It does not seem to happen a lot here. On the other had when you have a brans new profile sending up links to services it becomes very clear what's going on and the mods take care of that fairly quick.

Thanks, I am checking out R now. Funny thing, I started showing the link to my buddy and turns out he coded some modules for it .(small world) So he is willing to help anyone who has a questions with it.

Thinking of taking a course on this ap http://www.mathworks.com/

Im just getting my feet wet in this, but what I like is the computers use of formulating things like styles of arbitrage optimixation , and system trading. Lots of data mining, then building strategies and taking advantage of the computer to optimize these strategies in all types of ways. yield curve models, and blah blah, . For me I enjoy another way to approach portfolio managment and risk managment. Both which are things I would like to maybe one day specialize .Who Knows. Anyway I think a ot of banks trading are based on sytems build on quant methods. I can't say for sure but I am starting to strongly get that idea as I learn more.

I am starting to study more in the line of Quantitative Analysis. I'm trying classes to brush up on the math skills part of it. So far my studies are showing banks and institutions in many cases working like this in trading and portfolio management . I think it's very interesting stuff but it is for sure a whole new topic away from a lot of the traditional charting and pattern trading we do here.

The point of this was to to make it clear that sometimes we don't need to take a trade. I find that this is not so much true for folks that have been doing this a long time and can understand market conditions, but rather for new traders who might get chopped up in a trade action like today. Today was no doubt a choppy day. Those of us in the chat room talked about it over and over but we still hung around looking for a move. As I thought about it after the day closed, I realized, I had mentioned that we had been in very tight range and that our market profile chart indicated that we should trade the extremes if anything at all, but longer intraday postions did not seem like a good plan. For me personally I was able to scalp the start of the day very well. I realized after several reversals I should have probably just called it a day and went to the batting range. I stayed engaged and did infact get stopped a few times. Since I was up from the first hour of scalping I was still ok but once I realized things had been whipping around I stopped trading. I guess my point is that sometimes you dont have to make a move, and in fact not doing anything but avoiding the whip action is a "good trade idea" in itself. Keeping your gains from the prior trending day's profit's makes more sense than giving it all back on a day like today. The market will move again soon. Maybe tomorrow, maybe next week. I bring this up because as I look back at my trading log over the last few years I realize most of the reason I gave back profits is due to the fact that I felt the "need" to trade when in fact I should have stayed flat and waited for more confirmation of decent trading conditions. Just something to think about.

Well its just about having the luxury of dealing with the ECN or the market maker whom is offering what you want. So this will allow you to see through level 2 whom is offering what you want and for the best price. Then you can place you order directly to that market maker or ecn,trader or whatever specifically. Otherwise you really have no idea where your broker would be routing your order. Let me try to explain. Say you want 1000 shares at .50 you see on level2 that a MM and an ECN have only 600 (400 from one and 200 from the other) at .50 offered and the next offer is at .62. Well you wouldnt want to place a market order and get 600 filled at your price and the rest at the "best price they can get"(.62) Know what I mean? I'm horrible at explaining this stuff, but basically it means you can trade direct with whom you want , whether it be a ECN,MM, trader. It also is useful in getting your trades executed quick. With some brokers they actually route the orders through market makers anyway so you using the broker as a middleman so to speak. They make all kinds of deals with MM's and other online brokers to share in the profits of filiing orders but it's not always in your favor how they get that job done. If your not day trading then it may not really matter. If your going for .20 ,.30 moves then it's important. Commissions will also not be the same, they will be a bit more depending how much you trade. Here is more on the topic.

I am not sure if that broker is a direct access broker. If your daytrading stocks you will want to be able to route your orders how you choose. Just food for thought.

This strategy is clearly for scalping but I dont think one could tell if it was functional without the the question asked of how many points is your stop when you enter? In other words what is your risk/reward? If you got stopped 50% and hit your target 50% would you be negative profit or, break even, or positive?

trbates, For me the internals can help to show direction but what is important is to see how the internals are acting at key price levels. They wil help you to confim rejection or acceptance at support/resistance. For example if your looking at a "flip" area and price breaks a bit past your price level, but the internals show no sign of change then you might consider waiting for them to respond for confimation before entering.

One thing about Paltalk I have learned over the years is that it's known as a breeding ground for people spreading computer viruses. Just a heads up.

yeah, maybe it just is what it is ,maybe its tick charts? I mean on a daily weekly chart you dont get this kind of stuff, It's really only intraday.

Chad, I am wondering why my charts on IRT do not match my esignal charts exact. I have attached two pics . The curser is right at 8:40 on both charts and you will notice that the candles are not the same as far a range, open, and close. Both charts are exactly the same interval tick charts and they are both set to 24 hours. Should the candels not be exactly the same? By the way they are both getting data from the same source so I dont think that's it.

This is a great platform. It has all kids of the indicators if you like that sort of thing. But what I think makes this stand out is the customer support. The guys are great. If you need to customize something or want to implement a tool or strategy they will work with you and get it done. If your into market profile I think you will find this platform very useful as you can really customize the profile charts. Meaning you can set them for all kinds of time intervals, composites and so forth. I have to run but if you have any questions about the platform just PM me.

For those attending the webinar here are some other souces to check out for making inexpensive phone calls from your computer other then skype. http://www.gizmoproject.com http://www.jajah.com

often times if you are expecting a turn and volume is dried up then when you see large volume come back suddenly with a nice price push south this might be the start of the reverese and you can look to take pullbacks short. If price starts turning in a kinda drifting lower fashion but volume stays low, I would think twice about taking the short since it is more likely a lack of buyers rather then a increase in selling.

I am thinking about leaving esignal as my data feed for IRT. I am looking at IQFEED. I am not unhappy with the esignal service but I hear good things about IQFEED being good and more cost effective. Any good or bad news you have heard or had yourself with IQ before?

I second that. I am really happy with the platform. If anyone is thinking about trying IRT I would highly recomend it.

Newguy You might want to add some internals in your radar. $trin, $adv, $tick, can be very useful with direction with the index's. Any questions on how to use these just ask and I will be happy to give what I can.

Wishing you the best. I have enjoyed reading your material. See you back soon.

I like Think or Swim and Interactive Brokers. I know we will hear about the terrible customer service with IB and yeah, it's true. However it's nice that they will allow you to have a universal account for trading multiple products so thats nice for a new trader qwho wants to try things out with small capital. You will need some good charting also. I have been using esignal for two years and every month I plan to look at another package but I keep putting off. Not that esignal is bad. I actually like it but it seems more expensive then some of the others.

If you are using on of the new mac's you will have more then enough juice to run parallels(just make sure you get enough ram in it). My macbook pro with windows on it runs equal if not better then my pc.

speaking of solar I also keep an eye on ESLR for trades as it is was breaking out today.

I use an apple laptop when i am on the road. Thing is that none of my trusted aps for trading work on the mac side. So what I did is install parallels. This way you can run windows and mac os at the same time. When I am trading I just flip over to the windows side and it runs everything great. Just need to make sure you have intel proc, and ma out as much ram as you can.