Hlm

Sounds good BF. I am the same way...I trade the same setups in any highly liquid market. For a while now I have been trading both ES and NQ evenly because one usually sets up much nicer or at a different time than the other. Just recently I have been trading 6B intraday after hanging out with a friend who trades currency futures for a living. Some may argue that it's over trading, but I think it's quite the opposite. If your strategy is mechanical in nature and based around the natural ebb and flow of price action, trading multiple instruments allows you to take advantage of that intraday leverage without having to drop down into smaller time frames to accomplish the same result. You also have less days where you are stuck with little or nothing to trade. So in turn, if one is able to do it, it should decrease any over trading and increase the PnL.

If it's accountability/credibility you are after, then a better approach may be to promote the concept of streaming the account PnL live throughout the day and then finish it up with a quick summary and snapshot on this thread. One could do it in TL's room using free software like ManyCam. No "calling" would be necessary in the room. Those that want to follow an individual could just monitor the progress via video. If someone doesn't want to mess with the room they could always use a free service such as Ustream. Is this on purpose?

True, but in my opinion this would be the "revelation". To publicly dissect the reasons as to why one won't stream their PnL to their own members would be a start. Many people still think it's extremely expensive or complicated and allow the retailers to hide behind this excuse. There are many places you can stream stuff for free. And if one wants to keep it on their own shared web server there are many cheap/free tools out there that will take a snapshot of a portion of the screen up upload it at a specified interval creating a high quality image with using virtually no resources. Of course one can expect excuses, but it would be the public's job to systematically show the fallacy and cowardliness of the majority of them. Who knows, maybe all it will take is getting a couple of the "real gurus" out there to supply such information with their service and start a domino effect with customer expectations.

I think the biggest revolution would come from all potential/current customers insisting on seeing a live stream of the services PnL (if they indeed claim to be successful). The account should be traded via the method taught and the minimum suggested size. With today's technology there is absolutely no GOOD reason why this shouldn't be done. Personally, I would never pay for any educational or calling service that does not provide this. To contact many of the popular services out there, question why they don't/won't provide this, and easily counter any defense on a public website would really get things going. Think about it, you would think many of these services would be jumping at the chance to provide this service since it would be the ultimate advertisement. A service that is not willing to provide such information is most likely not worth more than a book...if that. Who knows, maybe I am a little off.

Tape reading is only one time frame they look at (out of a few including Market Profile). However, most individuals use the other technique they teach for reading the tape which is watching a small interval tick chart. So what you saw was most likely only a small fraction of the whole package...which is what you would expect at an Expo. Also, the service is an educational service and not a calling service. So even the "demo" wouldn't be going into any details. Now I am not saying that the entire package would be beneficial to you or anyone else since different strokes for different folks. Everyone must do their own due diligence. The key with reading any review is to ignore the promotion/bashing aspects and just focus on the facts. Excellent point.

Curious though, was this question ever answered? If no, why not? ------------------------ As for this thread, I would be extremely cautious at rolling your own software without first being a successful trader. In most cases (imo) programming to become successful is putting a dozen carts in front of the horse . Designing and programming a platform completely from scratch can be a tedious and painful process. This is why many people who want a solid base to start out with but still want absolute control end up using Matlab or similar matrix manipulation software. Yes, it's expensive, but you get what you pay for. Though most student versions with these types of programs are much less. As for the original posters initial comment... "The popularity of this board though shows there is an untapped market for software that has no concern for that kind of uselessness." ...what type of tools/analysis does this board specifically have a concern for?

To get back somewhat on topic... UrmaBlume, since your indicator/analysis relies greatly on speed I would highly suggest posting a short video showing several (since they only last a second or so) of these spikes thoughout the day. You could even stream your charts live for a day on ustream.com for free. It would also be helpful if you could post an intraday chart (full rth day) showing where these spikes occurred so an individual could get the bigger picture. These would be much more helpful to everyone. Thanks.

You already posted this indicator over HERE. If you had something more to say about it you probably should have just added it to the other thread. At the very least you should have used a new chart that wasn't two and a half months old.

Haha, nice. I just wanted him to clarify because many times when people talk about scalping, they are referring to reading resting orders in the DOM and/or a strategy that is time frame dependent (can't easily and effortlessly be played on longer time frames). For someone who uses a time frame independent strategy, a setup is no different if it's aiming to take a few points over a few minutes or a few dozen over a longer period.

I take it by scalping you mean aiming for a few ticks, scaling in and out, and possibly trading off the pressure shown on the DOM. There is a lot of space between scalping and swing trading.

The software is from FlashComs. More information here. The AJAX room we used in the past is located here.

It doesn't have anything to do with negative or positive risk reward. It has everything to do with positive expectancy. Assuming 3.33:1 and 80% ...going off of 30 trades... Wins: +24pts (24*1) Losses: -20ts (6*3.33) Profit = +4pts (appx) But like MidKnight said, your commissions would have to be less than $0.67/rt to make money in this simple example. However, there is still one piece of the puzzle missing. Commission only comes into play per transaction. So if his strategy was going for much larger swings, then it could be profitable strictly by the numbers.

I think we found another bug. If you type too much text it will just cut it off at a certain point while posting. However, since the text window doesn't give you a heads up to how much is too much it can be annoying after half your text vanishes. I am not sure if this is new or if it's always been like this. Most programs will either not post it (keeping it in the text window for you to edit) and let you know it's too much, or make it so you can't type anymore at a certain point. However, for the majority of the chat this is probably not an issue since most people use short sentences. Just thought I would mention it.

Image upload is no longer working. Well it appears to upload, but one is unable to view it when clicked on.

Exactly, and as I specifically said before... "If the whiteboard needs to be removed to make the room stable then by all means remove it." My comments after that were based on a "stable" chat room. It's obvious that stability should be first priority. However, even if the whiteboard did work perfectly you don't seem like you would take advantage of it.

If the whiteboard needs to be removed to make the room stable then by all means remove it. I have used it a couple of times in the evenings one on one with someone and it has been useful. However, there are other instant messaging programs that have whiteboard ability so I could always use those instead. I think one of the big problems is that very few people have used such features before and instead of looking at the advantages and trying something new, they naturally resist change. For example, I see others posting charts and having to answer multiple questions about what was posted. At which point one has to go back and give specific times and levels and hope nothing is lost in translation. With a whiteboard one can simple draw an arrow and type "here". Yes, many of the chat room features haven't been taken advantage of yet because it's brand new and has barely been up. When I saw the new features that James was adding my initial reaction wasn't "wow, a lot of features that no one will use"...it was "wow, a room that actually has the features to breed education and sharing of ideas quickly and efficiently". However, only time will tell if members step up and take advantage of these tools.

Just crashed again @ 3:30pm Central Time. It was doing pretty good after it crashed and was reset shortly after the US Market Open. Yes, the other room was great because it never actually "crashed", but for many people it would lag or disconnect the individual and not allow them to even go to the website for a minute or two. This is why I agree it is probably the server and not the software. Of course this software has more connections due to the fact that that there are more things going on (software functions and chatters) so the server is probably super angry . As for the temp room via the java irc client, if we end up having to use that more we might want to head over to another irc server (currently freenode) like othernet so we can use colors to make it easier to see.

Server crashed again. For temp chat room see link earlier in this thread.

I personally would never use it for entries/exits, but in my opinion TradersAudio does a good job at helping one learn how to actually read the tape and the natural flow of the market. Trying to learn by strictly watching a chart can be difficult for many. Having someone on the floor telling you what moves are cause by the locals versus the paper and where they are pushing or stuck while watching live on the chart can be extremely helpful to some. It helps the concept of price discovery sink in as the locals push to the extremes of the current value looking for interest (paper) and to see what happens when they do and don't find it. Like anything, it depends on where you are in your development, personality, and style. However, I do agree that one should be very careful at actually using it to trade. I view it more as an educational service.

Maybe you could add a few annotated charts explaining exactly what you are looking at. It would be helpful with commenting on this subject. Personally, I watch/trade both the NQ and ES equally because they build value in a different enough manner as to give me more opportunities and play the more sound setup even though they are moving in the same direction.

Maybe just bad timing since it was working before but not currently? Be sure to keep an eye on the support thread dealing with the chat room HERE.

Yes, it's down for now (he's been having some issues with the server). If you'd like to chat for the rest of the day see my link above. Soultrader is most likely asleep right now and nothing will be done until later today.

For the time being if anyone wants to chat via an IRC Java client through freenode for FOMC: http://java.freenode.net//index.php?channel=TL

For the time being if anyone wants to chat via an IRC Java client through freenode for FOMC: http://java.freenode.net//index.php?channel=TL

Crashed again. I HIGHLY suggest we put back the old chat room until the media server has been proven stable with the new software.