Journal of trader um (aka traderum)

traderum · Dec 20, 2009

Again, the first trade today I opened a few minutes ago is my old friend CBY

heech · Dec 20, 2009

I think others have probably already tried to point this out, but I'll repeat the effort one more time:

the "demo" feed has no basis in reality, at all. It is completely fantasy, artificially generated numbers.

Your returns from an IB "demo" are as interesting/relevant as high scores from minesweeper.

traderum · Dec 20, 2009

Quote from heech:
I think others have probably already tried to point this out, but I'll repeat the effort one more time:

the "demo" feed has no basis in reality, at all. It is completely fantasy, artificially generated numbers.

Your returns from an IB "demo" are as interesting/relevant as high scores from minesweeper.
More...

I'm aware of that. You tell me nothing new.
Read the initial posting of this thread.
It is testing only of all the components mentioned some posting ago, nothing more.

crash n burn · Dec 20, 2009

Quote from traderum:

I'm aware of that. You tell me nothing new.
Read the initial posting of this thread.
It is testing only of all the components mentioned some posting ago, nothing more.
More...

what components?

you sound like you're doing a scientific exercise, while in fact you're just throwing coins at flawed slot machine.

traderum · Dec 20, 2009

Quote from crash n burn:
what components?
you sound like you're doing a scientific exercise, while in fact you're just throwing coins at flawed slot machine.
More...

I explained my reasons in two other postings. Here they are:

I have many times been asked why I trade in a Demo account,
here's an example from another thread, and my reasoning:

12-19-09 05:49 AM
Quote from loufah:
Have you considered opening a paper trading account? That would let you trade using realtime prices. You'd need to have a minimally funded real account for this. They give you $100k of play money in a seperate account.
More...

Hi, I'm still testing everything: the platform, the broker, the API, my program, my trading method etc. I think the Demo is ok for this purpose.
I have learnt that I also need an independent and reliable data source for RT data, this I need also for scanning the market,
so it must cover all the stocks out there....
(yes I know there is a mkt scanner in TWS, but it doesn't cover my needs yet)
So, it's all much work (many APIs etc.) that must be done first before one can go "live"...
More...

Some people don't know what an API is. API stands for "Application Programming Interface". It is an interface library to connect to the broker or to the exchange via a self-written program for submitting orders, getting tick and account data etc.

It is not a simple task, one must study the API very well and everything must be tested well. Learning the API, developing the application and testing the connection takes much time. It must be bullet-proof as errors can be very costly in such automatic program trading.

Another problem are the problems at the broker side: bugs at their side, and unreliable service (for example delivery of quotes suddenly stop, historic data worked fine yesterday, but today it stopped working etc. etc.).
To overcome all these problems one is forced to make use of the service of another vendor (additionally to the first one), and that means another (different, propriatery) API to integrate...

To make a long story short: developing an automation takes much time.
And I'm not willing to risk any money in that testing stage. The sales people of the broker try to convince me endlessly of opening an account, but hey
they have their goals, and I have mine. I'm not silly to risk any money in an unfinished stage in an unreliable environment. And I think I'm not alone with this.
More...

crash n burn · Dec 20, 2009

so whats the point posting childish comments about how "you're fighting the MM, etc" or "I made 10% of my account today", which make you sound like a clueless clown

instead of serious comments such as "API performed robustly today with no major glitches".

it is pretty obvious you're not testing anything let alone the IB API.

no one would test the API under the IB demo. in fact, i am not even sure it is available to its full extent under the IB demo because it is a system tailored to test the USABILITY of TWS rather than its trading EFFICIENCY.

so there are two options, either you're an ignorant making a fool of herself or you're just a troll eager for attention at a public forum

traderum · Dec 20, 2009

Quote from traderum:
Again, the first trade today I opened a few minutes ago is my old friend CBY
More...

Here are the strategic trades I made so far. The positions (there are two for the same underlying) are still open (times are in CET):
Code:
Underlying	SecurityType	Expiry	Strike	Put/Call	Action	Quantity	Price	Time	Date	Exch.
CBY	OPT	JAN10	45	Call	SLD	10	13	09:59:55	20091220	ISE
CBY	OPT	JAN10	60	Put	BOT	10	5.1	10:04:31	20091220	CBOE
CBY	OPT	JAN10	60	Put	BOT	10	4.4	10:08:46	20091220	ISE
CBY	OPT	JAN10	45	Call	SLD	5	14.2	10:39:31	20091220	CBOE
CBY	OPT	JAN10	45	Call	SLD	10	15.8	11:11:52	20091220	ISE
CBY	OPT	JAN10	45	Call	SLD	10	16.85	11:12:31	20091220	ISE
CBY	OPT	JAN10	45	Call	SLD	10	18.2	11:14:41	20091220	CBOE
CBY	OPT	JAN10	60	Put	BOT	10	3.6	11:16:46	20091220	ISE
CBY	OPT	JAN10	45	Call	SLD	10	20.7	11:18:10	20091220	ISE
Ie. I sold short some Calls and bought long some Puts...

traderum · Dec 20, 2009

Quote from crash n burn:
so whats the point posting childish comments about how "you're fighting the MM, etc" or "I made 10% of my account today", which make you sound like a clueless clown

instead of serious comments such as "API performed robustly today with no major glitches".

it is pretty obvious you're not testing anything let alone the IB API.

no one would test the API under the IB demo. in fact, i am not even sure it is available to its full extent under the IB demo because it is a system tailored to test the USABILITY of TWS rather than its trading EFFICIENCY.

so there are two options, either you're an ignorant making a fool of herself or you're just a troll eager for attention at a public forum
More...

One wonders why you are so concerned about me?
I'm a multitalent if you want: I'm developing and trading and posting bug reports and criticizing what I don't like in the "system". Do you have a problem with this?
And, if you want see my API app in action just let me know and I can post some log entries of it...

No, wait here are some log entries (AU is AccountUpdates, PU is Portfolio Updates, that's my own convention in my API app):

20091220-12:36:12 PU AcctName=XXXXXXX Ticker=CBY Type=OPT Qty=30 MktPrice=8.3500 MktVal=25050.0000 AvgCost=437.3667 UPL=11929.0000 RPL=0.0000
Expiry=20100115 Strike=60.00 Kind=P Multiplier=100 Exchg= Crncy=USD localSym=CBYML PrimExchg=AMEX ConId=70462118 secIdType= secId=
20091220-12:36:12 PU AcctName=XXXXXXX Ticker=CBY Type=OPT Qty=-55 MktPrice=10.6750 MktVal=-58712.5100 AvgCost=1665.6636 UPL=32898.9900 RPL=0.0000
Expiry=20100115 Strike=45.00 Kind=C Multiplier=100 Exchg= Crncy=USD localSym=CBYAI PrimExchg=AMEX ConId=70625054 secIdType= secId=
20091220-12:36:12 AU Key=OptionMarketValue Val=-33662.51 Currency=USD AcctName=XXXXXXX
20091220-12:36:12 AU Key=NetLiquidationByCurrency Val=544827.99 Currency=USD AcctName=XXXXXXX
20091220-12:36:12 AU Key=OptionMarketValue Val=-33662.51 Currency=BASE AcctName=XXXXXXX
20091220-12:36:12 AU Key=NetLiquidationByCurrency Val=544827.99 Currency=BASE AcctName=XXXXXXX
20091220-12:39:12 AU Key=NetLiquidation-S Val=558403.00 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=GrossPositionValue-S Val=79187.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=NetLiquidation Val=558403.00 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=BuyingPower Val=1886392.01 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=GrossPositionValue Val=79187.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=InitMarginReq-S Val=106892.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=MaintMarginReq-S Val=106892.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=AvailableFunds-S Val=471598.00 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=InitMarginReq Val=106892.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=MaintMarginReq Val=106892.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=AvailableFunds Val=471598.00 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=LookAheadInitMarginReq-S Val=106892.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=LookAheadMaintMarginReq-S Val=106892.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=LookAheadAvailableFunds-S Val=471598.00 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=LookAheadInitMarginReq Val=106892.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=LookAheadMaintMarginReq Val=106892.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=LookAheadAvailableFunds Val=471598.00 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=FullInitMarginReq-S Val=106892.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=FullMaintMarginReq-S Val=106892.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=FullAvailableFunds-S Val=471598.00 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=FullInitMarginReq Val=106892.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=FullMaintMarginReq Val=106892.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=FullAvailableFunds Val=471598.00 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=OptionMarketValue Val=-20087.50 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=NetLiquidationByCurrency Val=558403.00 Currency=USD AcctName=XXXXXXX
20091220-12:39:12 AU Key=OptionMarketValue Val=-20087.50 Currency=BASE AcctName=XXXXXXX
20091220-12:39:12 AU Key=NetLiquidationByCurrency Val=558403.00 Currency=BASE AcctName=XXXXXXX
20091220-12:39:12 PU AcctName=XXXXXXX Ticker=CBY Type=OPT Qty=30 MktPrice=9.8500 MktVal=29550.0000 AvgCost=437.3667 UPL=16429.0000 RPL=0.0000
Expiry=20100115 Strike=60.00 Kind=P Multiplier=100 Exchg= Crncy=USD localSym=CBYML PrimExchg=AMEX ConId=70462118 secIdType= secId=
20091220-12:39:12 PU AcctName=XXXXXXX Ticker=CBY Type=OPT Qty=-55 MktPrice=9.0250 MktVal=-49637.5000 AvgCost=1665.6636 UPL=41974.0000 RPL=0.0000
Expiry=20100115 Strike=45.00 Kind=C Multiplier=100 Exchg= Crncy=USD localSym=CBYAI PrimExchg=AMEX ConId=70625054 secIdType= secId=
20091220-12:42:12 AU Key=NetLiquidation-S Val=556703.00 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=GrossPositionValue-S Val=79687.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=NetLiquidation Val=556703.00 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=BuyingPower Val=1880716.01 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=GrossPositionValue Val=79687.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=InitMarginReq-S Val=108311.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=MaintMarginReq-S Val=108311.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=AvailableFunds-S Val=470179.00 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=InitMarginReq Val=108311.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=MaintMarginReq Val=108311.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=AvailableFunds Val=470179.00 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=LookAheadInitMarginReq-S Val=108311.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=LookAheadMaintMarginReq-S Val=108311.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=LookAheadAvailableFunds-S Val=470179.00 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=LookAheadInitMarginReq Val=108311.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=LookAheadMaintMarginReq Val=108311.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=LookAheadAvailableFunds Val=470179.00 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=FullInitMarginReq-S Val=108311.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=FullMaintMarginReq-S Val=108311.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=FullAvailableFunds-S Val=470179.00 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=FullInitMarginReq Val=108311.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=FullMaintMarginReq Val=108311.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=FullAvailableFunds Val=470179.00 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=OptionMarketValue Val=-21787.50 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=NetLiquidationByCurrency Val=556703.00 Currency=USD AcctName=XXXXXXX
20091220-12:42:12 AU Key=OptionMarketValue Val=-21787.50 Currency=BASE AcctName=XXXXXXX
20091220-12:42:12 AU Key=NetLiquidationByCurrency Val=556703.00 Currency=BASE AcctName=XXXXXXX
20091220-12:42:12 PU AcctName=XXXXXXX Ticker=CBY Type=OPT Qty=30 MktPrice=9.6500 MktVal=28950.0000 AvgCost=437.3667 UPL=15829.0000 RPL=0.0000
Expiry=20100115 Strike=60.00 Kind=P Multiplier=100 Exchg= Crncy=USD localSym=CBYML PrimExchg=AMEX ConId=70462118 secIdType= secId=
20091220-12:42:12 PU AcctName=XXXXXXX Ticker=CBY Type=OPT Qty=-55 MktPrice=9.2250 MktVal=-50737.5000 AvgCost=1665.6636 UPL=40874.0000 RPL=0.0000
Expiry=20100115 Strike=45.00 Kind=C Multiplier=100 Exchg= Crncy=USD localSym=CBYAI PrimExchg=AMEX ConId=70625054 secIdType= secId=

traderum · Dec 20, 2009

Today I did my first ever Futures trade (ES, that's S&P500 E-mini)
and after many hours holding made an unbelievable profit of $7.70 !!! Wow!

I had bought just for fun only 1 qty of it, but then I saw that the multiplier is 50 , so my stake was about $50k...

Oh boy, I think such Futures are nothing for me b/c with a stake of $50k
I can do much better with stocks and stock options.

Nevertheless, I just wanted to try everything out...

NihabaAshi · Dec 20, 2009

Quote from traderum:

Today I did my first ever Futures trade (ES, that's S&P500 E-mini)
and after many hours holding made an unbelievable profit of $7.70 !!! Wow!

I had bought just for fun only 1 qty of it, but then I saw that the multiplier is 50 , so my stake was about $50k...

Oh boy, I think such Futures are nothing for me b/c with a stake of $50k
I can do much better with stocks and stock options.

Nevertheless, I just wanted to try everything out...
More...

Was that futures trade real money or demo ??? Also, when you say today did you actually meant a trading day during the recent week because the Emini ES is closed right now at the typing of my message post.

Mark