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Reaver

What's my most economical option for building screen time using market replay and MP?

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This is what I propose: I am in the process of making the long transition of going from using EOD charts and trading longer term to attempting to focus more on Auction Market Theory, MP and a day trader time frame...

 

What I plan to do is come up with a way to use a market replay feature so I can come home and replay tick charts and short term bars/candles along with MP.

 

Since I won't actually be using the data in real time, I was hoping there may be a more economical option that having to pay for real time data and MP.

 

I also definitely understand that it's a whole new ball game when one is actually day trading vs just building screen time (It works the same for swing trading and papertrading LOL).

 

But at this point I figure my best bet is to just do some serious market replay when I get home and just get screen time and build an understanding through application.

 

I was wondering if anyone knew any economical ways of doing this?

 

I asked a version of this question before, but I wanted to be more specific with this one.

 

Summary:

 

I want to come home from work at night and spend time doing replays of tick/short term data of the previous trading day using Market Profile and volume data. Trying to keep from having to go all out on data expenses...

 

Thanks a million in advance. End Of Day data is much more simple, and I just get a little confused with what I actually need to accomplish my goal of building up screen time.

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Okay I am looking into Opentick, seems it works with Sierra charts on CBOT minis for free...I am gonna check it out when I get home. Either that or open an account with Interactive Brokers or Open E Cry and just not trade...I know IB only charges $10 a month for data on an inactive acct, but I am worried OEC will close my account if I don't trade......Does anyone have any experience with that?

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Okay I am looking into Opentick, seems it works with Sierra charts on CBOT minis for free...I am gonna check it out when I get home. Either that or open an account with Interactive Brokers or Open E Cry and just not trade...I know IB only charges $10 a month for data on an inactive acct, but I am worried OEC will close my account if I don't trade......Does anyone have any experience with that?

 

One detail Nate... opentick historical ticks are not the same to real time... lol Walter.

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yeah of course, but is the historical data not broken down into ticks?

 

If I was trading real time, I would dish out the money...but all I need is data to replay at night to get screen time.

 

Am I stupid or something? Just trying to figure out what I should do..I don't want to spend $500/mo on market replay data, you now? lol

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I think Ensign Software has replay as well and I know for a fact they have MP included in the software but not sure if they have it in the replay. I used this alot in the past, it's pretty cool because you can set all kinds of indicators and timeframes you want. I just never used MP until recently.

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Thanks for the info Torero.

 

I found TradeMaven last night and am going to check it out when I get home from work....it has MP and volume analysis and market replay accoring to the ads...does anyone have any feedback on it?

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TradeMaven is one of the best programs for practice and actual trades. They have an excellent replay which will allow you to practice on past data. The first month is 1.00 after that I believe you can use their software for 49.00/mo. They also have a sim mode that uses real time data for the current day. This will allow you to place trades in real time in a simulated account. Strategies can also be programmed into the software. Their service is excellent, (they answer the phone within 2-3 rings). They are also a clearing house for trading. The training videos are excellent as is the manual. Every experience I have had with them has been positive. You can also open an account with as little as 2000.00, although I would recommend more. An under capitalized account is a sure way to lose money. They also offer MarketProfile as an add on. If you sign on with them try some of their free online seminars. Can't go wrong for for a buck.

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TradeMaven is one of the best programs for practice and actual trades. They have an excellent replay which will allow you to practice on past data. The first month is 1.00 after that I believe you can use their software for 49.00/mo. They also have a sim mode that uses real time data for the current day. This will allow you to place trades in real time in a simulated account. Strategies can also be programmed into the software. Their service is excellent, (they answer the phone within 2-3 rings). They are also a clearing house for trading. The training videos are excellent as is the manual. Every experience I have had with them has been positive. You can also open an account with as little as 2000.00, although I would recommend more. An under capitalized account is a sure way to lose money. They also offer MarketProfile as an add on. If you sign on with them try some of their free online seminars. Can't go wrong for for a buck.

 

Funny, as my experience with them wasn't anywhere near that nice. I actually gave them two chances appx six months apart.

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I have already come to that conclusion, but thank you for the input. . Are you by chance remunerated by them?

 

No I'm not. I've been trading futures for about five years. I have seen a lot of systems, indicators, etc that don't work. When I find something that works well I like to let other traders know about it. Its up to them to decide. I don't know what execution platform you are using, but if you are trying to scalp without an automated platform, you'll get your butt handed to you. I use Tradestation for charting and only place intraday swing trades with their platform. All other trades are done with automation. You might want to try either Ninjatrader or Infinity, they work well. I just like the service at Trademaven. Ninjareader will let you use their platform for free with a sim account, no time limit. If you have Tradestation there are a couple of "ELD's" that are provided by Ninjatrader that will power the platform with real time data. This will allow you to use the Ninjatrader charting and the simulator in real time. The end result is to learn the platform and how to program it to execute the trades with automated stops etc. Hope this helps.

 

FibT

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Reaver, what didn't you like about TradeMaven?

I'm also interested in this kind of practice. Trademaven sounds like it would be perfect on the website.

 

 

Not a big fan of customer service AT ALL.

 

The only time I ever got a response from Customer Service was when I emailed them to tell them I was cancelling my trial based on lack of cooperation on their part (ie not responding to emails). I received an email from a rep at that point....at this time it took almost three days to get my market profile set up. I did not like the set up for MP on their platform. Some might, but I didn't....very hard for me to deal with..but that is just my opinion.

 

It simply wasn't my cup of tea for $70-80 a month......

 

I ended up going with Ninjatrader with the MP plug-in...it was a 1 time $250...I use open-tick which is free for ecbot minis delayed data...which is all you need for data replays....

 

Works like a charm. And after the $250 up-front....it's free. That's what I like to hear.

 

Too much shadiness surrounding Trademaven for my comfort....

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No I'm not. I've been trading futures for about five years. I have seen a lot of systems, indicators, etc that don't work. When I find something that works well I like to let other traders know about it. Its up to them to decide. I don't know what execution platform you are using, but if you are trying to scalp without an automated platform, you'll get your butt handed to you. I use Tradestation for charting and only place intraday swing trades with their platform. All other trades are done with automation. You might want to try either Ninjatrader or Infinity, they work well. I just like the service at Trademaven. Ninjareader will let you use their platform for free with a sim account, no time limit. If you have Tradestation there are a couple of "ELD's" that are provided by Ninjatrader that will power the platform with real time data. This will allow you to use the Ninjatrader charting and the simulator in real time. The end result is to learn the platform and how to program it to execute the trades with automated stops etc. Hope this helps.

 

FibT

 

heh heh no, I don't scalp...I go for the big moves.

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Reaver, I didn't realize Ninja gave away alot of the platform for free, this is slick. That MP pluging looks great too but I haven't tried it yet.

I got open tick going, but one thing is i notice all the bad ticks.

are you filtering these somehow with ninja? does it mess up the market profile at all?

 

Also how did you get replay going? I go to file/connect/market replay connection and it just sits there and does nothing.

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Reaver, I didn't realize Ninja gave away alot of the platform for free, this is slick. That MP pluging looks great too but I haven't tried it yet.

I got open tick going, but one thing is i notice all the bad ticks.

are you filtering these somehow with ninja? does it mess up the market profile at all?

 

Also how did you get replay going? I go to file/connect/market replay connection and it just sits there and does nothing.

 

Yeah sim mode is free, they only charge if you're executing live. I like the MP plugin, does the job well man. As far as Open Tick, I haven't really had too many bad ticks (that I noticed) but you would probably be better qualified than me on that, as I don't spend a whole lot of time on replays right now...I am slowly transitioning from my longer term strategies that don't need real time.

 

For replay, you have to set up the replay recorder, which is in the TOOLS, then DATA option on the control center.

 

Then you just select the box that says enable market replay in the morning, or the night before. Then once you get home, you will notice when you go to CONNECT to market replay connection...you will see todays date...just select whatever day you want as your data source....and you're good to go.

 

You are right though- I wold imagine as I got more into the replays I would want to drop the money on a better data source...maybe DTN offers Market Access for Ninja, which is cheap...also, if you open a brokerage acct with supported brokers you get data free from them....Watch out for IB though, to my understanding their volume data is wildly inaccurate due to the way the transmit data in faster markets. Right now though, I am learning the basics of the shorter timeframe and observing and pretty much fooling around, so I don't need absolutely accurate data...like I said though- Once I got serious, I would probably look to spend the money on better data...

 

NT customer service is top notch too, which is a big deal in my book. Nothing quite like waiting three days to have a simple question answered (TradeMaven).

 

NinjaTrader has a walkthrough for setting up replay if my post didn't help ( I am not the best writer)....but if I can clarify anything for you..let me know.

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cool thanks, I have it now. I didn't realize you had to record the data first. I thought maybe you could back fill the day or something.

For the bad ticks, I'm not sure. Does your chart look like this when you back fill from open tick?

ninjachart.JPG.0ab7f3f97f2db2bd045eaf6874d2662b.JPG

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cool thanks, I have it now. I didn't realize you had to record the data first. I thought maybe you could back fill the day or something.

For the bad ticks, I'm not sure. Does your chart look like this when you back fill from open tick?

 

 

For the record, backfill will be included in the data when you do a replay...you would want to select the amount of backfill when you set up the chart....yeah I see your point...

 

I guess when you get too low in time frame that may take place....Try reloading the data. I usually use either a 210 tick or about 3-5 minutes, so I haven't had that issue...

 

Sorry I don't have much more info than that. I am new to the daytrade time frames and replays myself....just passing along what I have come up with so far. I will try to see if I can figure anything out though. Good luck.

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