paying the exchange fees for futures markets in order to get real time 24 hour data feed ? I do not mind paying ... but wish the exchanges lowered their monthly fees comex for example has been $60 monthly for yrs fees should be going down ... we have been on internet time for a few yrs
Hi Jack, I used to inventory and move around all kinds of machines for a computer leasing firm, including the IBM 024 as well as the 711 card reader and the 721 card recorder. Here are some pics and some info. 024 Keypunch 721 Card Recorder 711 Card Reader Boolean/computer history + bi stable multivibrater bi-stable multivibrator: Examples bi-stable multivibrator: How to make. bi-stable multivibrator: Quick description bi-stable multivibrator: 12AX7 tubes valves + description at bottom of page. The readers and recorders were steel beasts. They read the cardstock with holes punched in. These were the earliest "floppy disks". We had to figure out how to get them up and down stairs. We debated which algebra to use, but the forklift or strongmen prevailed . I will now attempt to drill down on these *boolean asymetric choices* concepts by providing a visual. Think of it as a white board that can be altered to fit the concepts you are trying to convey. This is a kind of - what was said vs. what was heard - test. How close am I to getting the fail-to-travers/flaw/choices concept? Better yet, what would be your thought process at point 2, and what would you look for/anticipate next? Thanks, JohnnyK
I use eSignal and I am pleased. I tried TradeStation but didn't like their built-in charting features. For some unique charting features (especially if you are an harmonic trader) you can try http://www.ensignsoftware.com/ and http://www.linnsoft.com/ They work with various datafeeds.
Where are the high rollers? who uses Bloomberg professional?anyone use CQG? what about Aspen graphics. These premier software platforms are top of the line. They also command a top of the line price Bloomberg $1700 per month, CQG around $500, Aspen with comstock feed $300. You would need a minimum account size of 300k just for Aspen. That is if your smart enough to allocate 1% per year for software. I can just see all the amateurs trading a 10k account and spending $ 150 per month on software thats 18% per year of you trading capital. Not to mention commissions, exchange fees. and all the rest of the garbage thats out their, seminars, lectures wow tough to stay ahead with all these reoccurring costs. KEEP IT SIMPLE!
I use CQG as I wrote somewhere in the beginning of this tread and I have Bloomberg Pro. If you are making a living by trading, it makes no sense to skimp on the tools you need. On average I make more trading each economic release that I get from Bloomberg than Bloomberg costs and the data feed always works for CQG. I used to use Tradestation but I lost loads of money once when their data feed froze up. It's just not worth it to try to cut corners.
I couldn't bring up the picture on my machine, sorry. If you wish to label it according to what I am trying to communicate, you can call point 1 failure to traverse and call point 2 BO (break out). The two choices at your point 2 are BO and FBO. I reserve the terms point 1, 2, 3, and new point 3 to define channels. I have advocated several practices that will tangibly improve any method of trading. Generally, I am unable to communicate these practices easily. All of them are processes that can enable and focus a person on what is going on and what is very important. These practices precipitate doubling of money velocity each, roughly speaking. So a person has to make the effort necessary to get stuff down pat. You point out Failure to Traverse in the graphic and you put it in the wrong place. So I need to go back a few steps to try to get an understanding of channels and their value regarding making money. For some reason, channels work. While I prefer a semi logarithmic graph for several reasons, it turns out that making money is so simple that even this consideration is not needed. The basic reason is that the range of values is so small that there is not a statistically significant difference in the analysisone way or the other. Look at the daily potential of the market to deliver money to your account. This gives you a H/L range to look at. In the next level of consideration, look at how price moves about in that H/L range of consideration. I have a glossary of terms that I have adopted to describe all of this. I will use ES for discussion purposes. H/L range means determining a range of price values that mark to upper and lower extremes of price. Usually these values occur uniquely once a day. So they are not trading values but they are just boundaries. I trade using market entry as a tool. Therefore, I cannot get these values to show on my print because I have to "buy the spread". The spread is a cost of doing business. On Friday I "bought the spread" 34 times with multiple contract orders. I disregard this as a determinent for making money. Think simply, how does 34 ticks (8.2 points) compare to the H/L spread. Doing those 34 actions, involved 13 holds or completed turns. Thisgives me a repreave from the 34 ticks. I scale, exit or reverse, etc. For each turn, I see profits or losses "locked in": 7 profits and 2 losses and two "washes". Ordinarily I do about what is described above to make money as a consequence of price change in a range of prices during the day. What can anyone do to scope out what is available to make money? What actions are necessary to take money out of the market? Channels, it turns out, are the most helpful thing to deal with this basic fundamental opportunity set of Q's. As it stands, I am unable to convey that to you (lets be clear, you have a fine chance to "get it"). I use a simple precept to make money. I feel change in price is where money can be made. Anyone can look at what they do. Whether they make money or lose it, they are "in' the market while the price is changing. If people want to test this precept out, they can paper trade with random entries and hold until they do not make any more money or until they do not lose money anymore. The place they get to, in either case, is where exiting is correct in market "timing". All of these points in time relate very simply to one market phenomena. The phenomena is "channels". By doing random entries and optimum exits, any person can learn how to use channels for exits. This type work by a person can be enhanced in two ways. First, choosing the random entry direction in a way to eliminate it's being incorrect. Thus, you always make money instead of loosing sometimes. Second, by timing the entry to take advantage of being in the trade from beginning to end. Channels supply the solution to both of these needs. This gets us fairly far in making money by using one precept, channels, to get the job done. If a person prints 100 daily charts for 100 different days using a 5 min bar duration and puts them in a three ring binder, he has a very good chance of being a millionaire. I draw every channel of everyday. If the person copied the 100 charts 10 times each and collated them and put them in separate "study" files, I can say that person's chance of being a millionaire is tripled. You can use such sets to learn about channels. Write down 30 times that occur in a day. Use these as "times" to random entry. You can shift these specific times by adding or subtracting small amounts of time for the set of 30. Think of ten drills you can do to shape up your thinking. To complicate life, we can study channels to learn about them. They are describable by their characterisitcs. Channel characteristics are important because, if known, they can be used to make money. Everything comes down to making money during times of price change. I use SCT for that because it represents a rational and objective basic approach for dealing with just how and when money can be made.
With respect to making money in the context of channels, the key concept for this is understanding how price "traverses" channels. I thought that this concept was not complex. But you did not get the "traverse" concept for many reasons I suppose. Maybe you do not know how to get channels lines drawn in. Not putting in channels lines properly means that you cannot go forward. Channels have two sides and these lines are best drawn as parallel lines. This parallel concept I base upon the fundamental fact that the circumstances, conditions and situations surrounding channels do not change appreciably during the play of the channel. If conditions change, I choose to look more closely, usually with a CCC precept. To define a channel as rapidly as possible you need three points. (Google Geometry) You also know that the first three points that are available to not define the full extent of the channel that will be used for making money during the period of time of the trend. I use points 1, 2, and 3 to get started. Then I suggest to people to look for a new point 3. For about 47 years I have made this suggestion and people do not "get it". The ones that did when I started to do this, set themselves apart by being millionaires after a few years. Step way back. Look and see if you can figure out that the first three points you usued to draw a channel are, in fact, the first right to left traverse of the channel that is really forming. When you complete the following traverse, you get to "see" the "new point 3". You put it in and redraw both the right channel line and it's parallel counterpoint. NOW, real channel appears as a consequence of two traverses of this forming channel. Thus the points 1, 2, and 3 define a traverse. And the price movement following the initial traverse is also a pathway with boundaries that moves as a counter move to the first traverse of the forming trend. You tell me that you do not know what a "failure to traverse" is by how you draw a chart and identify points on the chart wrongly. Traverses of channels are the zig zag moves to and fro within the channel borders drawn as narrow parallel linesbounding the price movement. As people learn they have "aha" experiences. The channel thing is a "religious" experience. This "religious" experience simply makes a person a millionaire. When you get to "trust" channels, you get the "religious" experience. It is a remarkable unmistakable feeling. You, at this point, do not know what a channel is. It is not a problem. When you know what a channel is, you actually trust that a parallel line drawn through point 2 does define a price limit. If you spend 40 years or so drawing the left side of channels, you get to the place that price only BO's out to the left (very very rarely) during climax runs (Google "climax runs"). What does happen over and over and over is that on high volume, the price hits the left side and then retraces on lower volume to the right side of the channel After that price tries again to repeat on high volume the previous traverse. At some point this high volume right to left traverse does not succeed. This is a "failure to traverse". The price does not make it all the way across the channel on very high volume. You tell me that you think failure to traverse occurs going the other direction across the channel. You have that wrong as well. Failure to traverse on high volume ends the trend right then and there. The price is headed to the left side and it cannot make it to the left side. Trends do not end on the right trend line. Trends end long before the right trend line is hit. ET is F*cking famous for almost all of the participants in ET NOT KNOWING WHEN TRENDS END. For making money, everyone has a choice: A. learn when you cannot make any more money in a price changing trend or B. do some half a$$ed "fix" for your ignorance. In B, the most popular substitutes for knowledge and skill are money management and risk management and edge trading. Making a lot of money requires knowing down cold how channels work. Learning channels requires drawing lines. The "failure to traverse" (right to left) ends the money making process in the existing trend. When a right to left traverse does happen to hit the left trend line (you drew it and made it parallel to the right trend lione), you have come to the time when, for a while, you have completed making money at the "high" money velocity of that trend. The money making for the left to right traverse is done at a lower money velocity in "slow paced" trends (so you "hold" for this kind of pace), and worse, in fast paced trends, the right to left traverse may be a price retrace, in fact (you lose money if you hold in slow paces). When I mentor, my first chief objective is to have a person "trust" channels. Have the "religious" experience. Drawing lines is easy. Getting the new point 3 which "really" defines a channel instead of just the first traverse you begin with is easy. Using channels is easy. Making money using channels is something else. There is a lot of "understanding" to "process" yourself to get to "trust" channels. When it happens, you have obtained beliefs that assure proper decisions for taking action. People who are trying to make money get into a lot of perplexing places. The right side of a channel is one of the most perplexing places for those who have not gone a long way towards learning about making money. This is because of the juxtaposition of what these people see as so many considerations to take into account . Because they fail to have a perspective and because they give the wrong weight to the factors they are considering, they will continue to be perplexed for a long long time. As a group, trend faders and their discussions and thinking, will give you very good examples of how perspectives can be distorted. It is not primarily because they use "prediction" as a strategy. The right side of a trend is important; it is where "high" money velocity profit making re-commences or it is the place where S or R are tested. It is not where the next trend begins; if a beginning was going to occur, it has already happened. If a "clean up" on channels can be accomplished by individuals, then this is going to open most of the "big" doors for improving making money. Everyday there are about four trends crocssing the H/L range. They form M's or W's. Because of volume, the first trend has a "tape" initial right to left traverse. By understanding, using, and making decisions based upon channel perfomance, you get to trade the traverses appropriately within the channels as they form and complete themselves. At this point, it is possible to define just what fading is. As a reaction, to what is really there to profit from, it stands to continue to impair a person's potential ability to make money. People get to reaction as a consequence of not learning what is going on.
Well I guess this chart looks familiar to you. Why would you need both CQG and Bloomberg Professional? Could you post a Bloomberg Chart I would love to see one. Thanks
Redi + for quotes = My firm eats the cost AIQ systems charting= 64 bucks a month for EOD BrownCo news and research = free total yearly software trading costs are $768.00.