C.Profit, Thank you for your kind words. Change begins with a first step right? Quick question. Aside from publications have you ever found the magic indicator, the money making system for sale at 19.99 or even 9999.99 ? It's all bullshit. An edge, plus money management, plus discipline and screen time cannot be bought and automation does not work forever. The hard truth is a successful daytrader does not need petty cash from any form of business because everything else pales in comparison unless you start a fund or take it to next level but that implies complications. Shoot me in the head before I go back to customers, schedules, accounting, marketing and all those headaches. Like I said in a previous post let me be, trading with my hot coffee at home with balls hanging out of my shorts as the kids kiss me goodbye for school while I scalp the eminis. I know not a pretty sigh and probably the exception and not the rule but nevertheless a realistic scenario that does happen from time to time. Anek
Indicator Project Here is an idea for any Easy Language coder that wants to produce something useful for him/herself and the community. A real time indicator that plots the following on the charts: -Continuous line plot of HOD -Continuous line plot of LOD -Continuous line plot of mid point between HOD and LOD -Continuous line plot of mid point between mid point and LOD -Continuous line plot of mid point between mid point and HOD All dynamic and ever changing as HOD and LOD is obviously taken to new levels. Extra effort. If price is above any of the 3 middle lines such line should plot green and below red. Why ? Because due to complacency (bulls and bears meeting half way) you will be amazed at how many times these points are visited by price throughout the day sometimes allowing you to buy or short with very low risk and great results. Hope someone comes forward and creates it, should be a simple but useful project. I promise you I'm not wasting your time, combined with my paintbars it's a beautiful powerful tool ....and if no one does it I'll do it but would rather use free time for other things. Anek
I had a few more PM's for further explanation of paintbars I use in the chart. Anek, I apologize if I'm taking this off track on you so I'll make this one quick to finish what I seemed to have started. BTW--if you guys are thinking of using the paintbars for the YM I strongly suggest you use nothing lower than 2.0 setting on the range bar candlestick charts. ).5 or 1 is great for the ER, ES, and ZG. Ok the following chart shows two colored "paintbars" at the bottom of the top pane and are really native indicators to QT. (also Sierra and I believe e-signal). One is called Woodie's ChopZone indicator (after Ken Wood from Woodie's CCI club). And the other is called Woodie's Sidewinder. Both are trend indicators and when you have them syncing in color i.e. powder blue under green or Brown under Green that's when you have a nice momentum trend going on. As I explained before I scalp 1 - 3 points all day long on the ES, ER, NQ, and ZG but when I see the CZI and Sidewinder line up I'm in for the long haul. I simply draw a trendline and wait for it to be breached. (Picture Attached) One more thing, I think someone wanted to know how I manage money thruout the day. I have two methods but I will only explain one in that the other is built into my API. I use Bracket Trader which cost me a flat "one time for life 100 bucks" which allows me to automatically scale in and out of positions at pretermined points. ZeroLine trader is another one. Its just personal preference but both are add-ons for IB TWS. Strategy is simple. I will use 3 car ER2 example that I actually use for scalping. When I see my buy or sell (short) point I'm in all 3 cars. First profit target is 4 ticks, second is 8 ticks and the last one is a "runner" with a 2 point cap unless I see the brown/powder blue bars with trend as shown in the chart pic like I did last Thursday. Then I cancel my "runner" cap and go for it. With Bracket Trader you can click a button and increase or decrease risk in nanoseconds or you can also flatten or hit the Break-even button. I was asking if IB had such a tool but they said its in the works but for 100 dollars I can go get a cup of coffee without worrying about what happens if my computer goes down or if the market reverses etc. I do not have any affiliation with either mentioned company FWIW. Here is a chart of the ES showing CZI and Sidewinder <a href=http://www.freeimagehosting.net/><img src=http://img3.freeimagehosting.net/uploads/84cdd3cf35.png border=0 alt="Free Image Hosting"></a> Good Luck and Good Trading to all of you!!!
JSSPMK, Modified some existing code to obtain a rough draft. Beta and non tested will still allow a member of the community to contribute. Move to the side GS, ML, DB etc, the sharing trading community is out there to get a share of the pie too Anek
Anek, Your right not a good visual but I get what you are saying. I use to comute 3 hrs. a day and recently sold my company to trade full time. I now wake up, get my coffee and sit in my pajamas in my office and trade. I went out on a limb to do this but since I sold my business I have money to live on for some time. I'm still learning but I knew I had to give this my all in order to make it work. I had an ok system but not one I would feel comfortable putting on a large car size, but now that I am on this thread I have no doubt I will be successfull. I am trying to go through the thread and devour all of the great information from you and everyone else. I am very grateful to everyone here. Thanks again.