Try using his method for the first time and you will see why traders using TWS need an automated mechanical system. In realtime its not easy... Personally I get nervous when I have to click a buch of Transmits in seconds.. just seeing all of those orders waiting gets me uneasy.. because I know I will eventually mess up a few times and it will cost me dearly. --MIKE
Someone who thinks this clearly should not be using a computer to trade - he should be using the computer in his head. nitro
I think you have a clear mind - someone that has a clear analytical mind should learn to trade and use a computer only to display quotes, execute trades, and look at charts once in a while.... The idea of a system is like the calls that Odysseus heard while at sea..."tie your self to a post" or you will waste a lot of your life, or worse...IMHO Leave the "systems" to people that have no "choice." nitro
So if I'm a cotton picker, and I have 100 acres of cotton to pick, and some guy invents a machine to pick the cotton for me, and all I have to do is operate the machine, I should discard it because I don't want to get tied to the machine?
Did you ever see the movie "The Time Machine." Remember those good looking blonde people whose society became so advanced that they didn't have to do anything anymore? Then, when all their technology failed, they had no idea how to provide for themselves. A computer trading system is a moron. If you can make money by trading a system, then go for it - if that is the only way you can make money in the markets, I claim you don't know how to trade, and if you knew how to trade, you would realize what a joke most trading systems are. If this system works, how long do you think it will stay profitable before machines are all fighting each other to get executed first - I know trading houses that have access to PTP lines to the exchanges - some are even AT THE EXCHANGE. Anything this trivial will certainly be arbed if it works. Then what, wait for another system that works? nitro
Which is more important... the end or the means to the end? That's like saying you drive a car because you don't know how to ride a horse. "Any man worth his weight should be able to ride a horse, by golly." What is the objective? The objective is to make money. If a "system" makes money, it is foolish not to employ it. "Yes I know I have the winning lottery ticket, but I don't want the money because I didn't earn it." Every trade you make nitro is part of your system. If not, then it wouldn't be proprietary. Your monster is a system. Edit: did you add to your post there? Now I have to comment on that. I know how to trade. And I know that most systems are a joke. You happen to believe in your proprietary pairs trading system. That is why this little method is so cool. If executed properly, it works. How long will it work. As long as it does. What ...you think you are the only pairs trader out there. There are websites for that stuff. But somehow you keep cranking it out. Systems rarely don't work because too many people are using it.
Yes, those are distractions for me and they have some merit. But my day in and day out money is made TRADING. That means: 1) Tape reading, sector reading, market reading... 2) Listening to the story the market is telling on the macro that day, by interpreting and drawing on experience of the "day" 3) Looking for setups (the closest thing to a system in my armor there is) 4) Entering a position and monitoring for the wrong feel 5) Taking profits and loses at dynamically updating "points" (this is also systemic, but even this requires flexibility a computer is incapable of.) In, no matter what comes of it, you will come out wiser. Seriously, Best of Luck. nitro
Is your opinion that someone doesn't know how to trade something they should consider before they put any money in the markets? Is there some need to know how to trade (whatever that is according to you) in order to make money trading?
Read the posts I have made. You cannot be making this statement if you understood what I am saying. nitro