I'm looking for a platform that I can cycle a batch of orders for entry and exit in equities. After inputing 10 different stocks, and lot size. I want to be able to press a key and cycle in and out intraday without inputing them again. Kind of like retail programmed trade. Anyone using something similar?
Known as 'basket trading', almost all professional order entry systems include this feature. I basket trade a market neutral portfolio each day thru a different firm than the one listed below , Genesis's Laser Platform. Blackwood, Hammer, Realtic, Sterling all have the same capability, Laser has the best tutorial on the subject. http://www.gndt.com/lasermanual/View_Menu.htm Take a look at the second column titled: Boardview Plus - Basket Trading Each feature takes a few seconds to view.
Long portfolio dollar value =Short portfolio dollar value, eliminating the portfolio's 'market risk'. Live or Die based on the performance of my individual stocks. Todays basket is attached.
Anvil, thanks for sharing! If you don't mind answering a few other questions, I'd appreciate it very much... Do you use some type of correlation analysis to put together this type of basket? Do you change the components daily? Do you/others hold overnight? Do you select the components using a 'chart reading' approach or a more mechanical/statistical way? It does seem like a good way to reduce risk. Thanks and continued good luck to you!
I use to screen dollar/volume leaders plus dollar change and get a list of these stocks. Usually the stocks outperform on upside and downside in relation to the index. You stay away from penny stocks, and use mid cap to large cap issues that the funds are entering and exiting on active days in the market. This implies also you can time the market well. And you might ask why do this in stocks if you can time the market?. Some money pools are futures skiddish.
Thanks risktaker: Do you use some type of correlation analysis to put together this type of basket? Volume analysis over price analysis...volum e leads price Do you change the components daily? Do you/others hold overnight? Do you select the components using a 'chart reading' approach or a more mechanical/statistical way?
Sorry about that last post... shot off before I was finished! Q: Do you change the components daily? A: Yes, I build the basket the night before. Q: Do you/others hold overnight? A: I get flat each day. Build a new list, every month there are a few repeat names, last month it was NEW FMT, for example. Q: Do you select the components using a 'chart reading' approach or a more mechanical/statistical way? A: 23 statistical screens. I take a look at the individual charts once I have my list for the next day. Cull takeover/merger arb names, etc. The methodology is based on my experience, it is a never ending adjustment process, constantly tweaking it. For example a stop loss toolkit is my focus now, I normally place a 3/4% to 1% stop on all my fills, lately with the volatility I've gotten taken out of winning trades. I am adjusting based on the VIX, wider the higher the VIX, tighter the lower the reading. This method works best for me, if the market opens up I pay more for my longs, and receive a higher price for my shorts; if the market opens down, I get a lower price for my shorts, and a lower price for my longs. I start out dollar neutral MOO and most days let the market get me net long or short by triggering my stops, then exit MOC or close them all out prior to the close manually.