My 11 yr. old son was off school Thursday so I decided to let him do something he always bugs me about...."Push the button" as he calls it. The "Button" he's so fascinated with is the green and pink sell buttons I use in Bracket Trader and it just mesmerizes him because it talks when an order is filled or closed and when your profiting it whistles or whatever sound you have enabled. So, I set this chart up for him to trade the YM. I set the contract # to 1 with a stop loss of 10 points so he couldn't ruin my day and then gave him the simple rules as shown on the chart. I stood behind him for roughly and hour and he made 235 dollars. Point is--if an 11 year old can do it you can too. Just don't over -complicate it. <a href=http://www.freeimagehosting.net/><img src=http://img3.freeimagehosting.net/uploads/0c78cf02b1.png border=0 alt="Free Image Hosting"></a>
Haha, fantastic. Does he trade strictly by your rules or did he trade his own way? That would interest me. He's probably free of fears to "push the button" without hesitation. It looks like QuoteTracker. What is this bottom indicator?
No --I just gave him the colors to use and set the stop loss to 10 points with a trailing stop of 10 --and helped him thru the first trade and didn't bother him after that. I never really thought about the fear thing much but I think you're dead on with that one. Its just a game for him. I took him for some new gym shoes and Mac D's last night with profits he made--probably shouldn't have now the wife is mad because now all he wants to do is stay home and push the "Button" lol. Maybe I'll make him my "auto trader" during Thanksgiving and Christmas vacation lol. Bottom bar in QT is: "if bar close>((Bar High[1]+bar low[1])*0.5) set color to Lime: and the reverse for sell.
] But how did you get the arrows? I have something very similiar set up but just have a colored band where you have arrows.
When you create a paintbar in QT you choose "shape" then where you want it i.e. shape bottom or shape middle or shape top. Here's what it looks like : <a href=http://www.freeimagehosting.net/><img src=http://img3.freeimagehosting.net/uploads/eaaef5c294.png border=0 alt="Free Image Hosting"></a> P.S. if u make any money with it u have to buy my kid Chicken McNuggets with a small Seven-Up lol.
Thank you. For $60 a year QT rocks. edit: I missed you p.s. I have my own system. I have never found any system using bar comparison to work consistently. This is not your regular trading system is it?
+ No it's not I just made it for my kid to trade and play with. You could use visuall price action and do well with it with great results. I do use a Range CandleStick based sysem though as it really takes the chop out of the futures I trade. The p.s. was "If you make any money with this you have to buy my kid Chicken McNuggets and a small Seven-Up" lol.
What I ask myself is, how do you set an automatic stop with QuoteTracker right upon entry? I've searched their help but to no avail. I know IB's TWS offers attached orders.
If you scroll back you will see I mention "Bracket Trader" which is a TWS add-on product. I would not trade without it. http://www.bracket-trader.com/ disclaimer:I am in no way affiliated with Bracket Trader other than I use their product.