But to shadow scalping trades is impossible, I know this from personal experience. But the honesty factor is noted and welcome. It would actually be a convenience to the trader in the chatroom as IB could keep the tally of trades posted too.... Yes I have traded with TWS before at IB, Nitro....come on! Would I lie to you? Michael B. P.S. I heard a rumour you went prop Nitro is that true? With who?
Remember, AFAIK, the idea of most mentors, or I would hope, is to teach you to fish, not to catch a fish. But I tell you what, find me a scalper that would allow _me_ to watch them for 1 week. I would not even want them to explain what they were doing. Seeing would be enough. Eeeeeeeeeegggggggggggggggsxactly. The point is, when a mentor talked on endlessly about how he/she trades on ET, and then went live on it, you would simply be seeing the trades in realtime. That is a HUGE thing for the honesty of the mentor, and is actually beneficial to traders starting out. I never suggested otherwise. I just felt I needed to clarify a point that I may have not made clear before. I am trading with a prop firm currently as well as trading my own account, as well as getting ready to start systematic trading the ES/NQ/YM. nitro
Nitro, What is all the hoopla about. Why do you care about all the advice and claims that so called profitable traders make on ET. When you make statements about your trading, commisions, etc., everyday in the chatroom that no one can verify. What makes that different? Respectfully, Backwardation
as well as getting ready to start systematic trading the ES/NQ/YM. If you have the time, consider sharing with your friends(I know you eluded to this earlier). I consider the word friend a special thing. I have never met you. I only have spoken with you and read your posts the past years. I feel like I know you (I even know your dogs name and you maids nationality) and others here. I know you will be successful in your new systematic trading methods as I have watched you call some scalp trades in the chatroom over and over again (after the fact). I can imagine you are making an obscene amount of money for that prop firm and I hope they cut you a good deal and appreciate you. I am working a full-time job and it saddens me that I could not somehow get involved in a small circle of successful professional traders. Your knowledge and background with trading should allow you to keep abreast of the changing environment and to diversify and change as needed and to not blow out. Few traders have the discretionary ability to "systematically trade". (oxymoron) Michael B. P.S. I say share because Woodie and disciples say its a rather rewarding feeling
i can make the suggestion but it sure seems like a lot of work for little reward. Not to mention the potential risks. We actually already have something like this in place for broker/dealers and other institional types of accounts where the main broker or clearing firm can see all the trades/orders real time. you may also want to consider a number of good pieces of code available which can display one's PC to other people who have the passcode. one I know of is called placeware.
1) I do not give advice. If someone asks me, and I do not feel like the question is "too close to home," I answer. I do not promote myself or any service on ET, and I have never made a dime of anything I say on ET. It is all "volunteer" work. 2) If I say something about my trading, I will state that it is a paper trade, or a real trade, or when I am getting plastered, or when I am making money. If I state something about comissions and I am able to tell people my deal, I will. The difference is so blatantly obvious between these people that are constantly advertising themselves on ET and I and to suggest otherwise is insulting. You have been in the chatroom long enough to know that I go there for company, not to take calls or to give calls. My desire to be in the ET chatroom is a humble one - Company - If you think otherwise, I think you have alterior motives and may be connected to a vendor yourself. I NEVER EVER START A THREAD SAYING THAT I CAN HELP YOU TRADE. IF I DID, THE FIRST THING I WOULD DO IS GIVE YOU MY CREDENTIALS AND ALLOW YOU TO WATCH ME TRADE IN REALTIME IF THERE WAS TO BE AN EXCHANGE OF MONEY FOR THE SERVICE. But look, if there is no "hoopla." Why object to what I am proposing? If in fact I am some sort of covert vendor or impostor, and IB implements this "Spectating Account," I would be subject to it like everyone else!!!!???? I have a terrific intuition about people that object to the things I am proposing on this issue. When someone objects to more realism and greater honesty in this business, I know EXACTLY who and what they are. But I wonder, of all the threads on ET, why did you choose this one to respond to? Does it hit close to home to you? I BET IT DOES. There is no "hoopla." If you are a vendor, and you can still get clients that do not demand this service if it is implemented by IB or any other broker, then more power to you. But watch what happens if IB implements something like this. The real educators will take 99% of the business that now lies in the hands of impostors. nitro
Def, The rewards are fuzzy, I agree. The risks? Please explain. I see almost no risk, but I may misunderstand what risks you are referring to. AWESOME. The code is already in place. I agree that it may initially not provide any extra value to IB. But can you imagine if there were 10 or 20 real educators out there that brought IB hundreds of accounts per year? IMO, that would not work. As I stated on one of the replies, I could duplicate by programming the "look and feel" of TWS down to the pixel in a day. I could then fake the trades. No, this would have to run on the broker as you currently implement if for the institutional accounts.
Nitro, With Hotcomm you get to see a traders whole screen live. Isn't that what you are looking for? It is interesting, though, that all the live rooms I have been on only show the monitor with charts, not their platform (or they only show the platform very briefly).
It is incredibly difficult. I know the task ahead is incredibly perilous. Chance favors the bold, and I know that most battles are won before they are fought. Either way, I will come out of my experience trading the ES/NQ/YM systematically "stronger" than ever before. As to my prop firm, I do not talk about fight club. But I am hardly making gobs of money there. If I were, I would not be trading my own account or looking to trade ES/NQ/YM. ES, there are lots of people like you and me. We are closer to each other than you think. The differnce between us is one, maybe two edges. Don't give up. You sound commited. nitro