I get this quite often (eSignal and IB); thought it was me not understanding what I'm looking at
I'm not on the market today, hope you all have a good one.
Regards
Paul
BTU just did same to me!
amit1986
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I get this quite often (eSignal and IB); thought it was me not understanding what I'm looking at
I'm not on the market today, hope you all have a good one.
Regards
Paul
I'm thinking it's not worth trading today, but like yesterday, I could get some big moves in the afternoon...so just grinding it out.
amit1986
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the trade on INT was actually interesting...I didn't just want to execute my 1000 share position as a market order...but instead, as soon as the selling stopped, spread opened, I started bidding 100 shares at a time...everytime I ticked up, if I saw other ECNs join me or tick up, I would buy at the offer...I did that twice and then executed my remaining position at market...it kept moving higher until it stopped and I got out...I didn't want to give it any wiggle room as it was a bit thin and volatile, so just took my profits and got out.
amit1986
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another long trade after the pivot low...didnt play with limit orders, but slowly was accumulating stock below the whole number as I saw strong bidding pressure...likely short-covering...so went long slowly 200 shares at a time until I had built a 1000 share position with an average entry price of 43.98...got out at 44.31
INT trades...this type of trading requires some experience with the reading of the order flow...not a trade for the faint of heart
Great trading Amit - way beyond my level.
Steve
Nice one Amit!
So essentially you were testing the validity of the players at the inside bid, and in seeing them uptick with you that meant a high probability that the buying pressure was real and hence your market order to begin accumulating your position - is that a fair summary of your thought process here? Out of interest did any of your bids get filled, or since the stock was upticking were all of your buys at the offer?
Really enjoying your recent posts,
Aaron
Amit,
A question about the mechanics of your trade exit using IB and TWS.
For background, I am still currently paper trading Mr Chart's methods, and have over the last few weeks reeled myself back in from making too many trades in what were breakouts but without the momo and occasionally on a chart that was more messy than I'd prefer. I'm generally trading from about 1:00pm to 3:00pm ET (I live in Australia and this is the couple of hours before I go to work!) so there is no doubt chop in the markets at this time and I figure if I can trade consistently here, then trading in the first 3 hours should be a more pleasant experience.
On TWS, I enter trades off the market depth window, then once in I immediately create a closing stop order. This order then appears visually as a horizontal line on my linked chart which I transmit then I simply drag to the price I want it to trigger at, for example the opposite end of the previous candle. I know a random block order away from market could trigger my stop but it is a risk I am willing to take at present. If the price action is volatile I adjust stop level to take this into account, to avoid getting whipsawed.
I was just wondering if you would like to share how you manage your exits, or if anyone else would like to provide feedback or constructive criticism on the method I've described
Cheers,
Aaron
A question about the mechanics of your trade exit using IB and TWS.
For background, I am still currently paper trading Mr Chart's methods, and have over the last few weeks reeled myself back in from making too many trades in what were breakouts but without the momo and occasionally on a chart that was more messy than I'd prefer. I'm generally trading from about 1:00pm to 3:00pm ET (I live in Australia and this is the couple of hours before I go to work!) so there is no doubt chop in the markets at this time and I figure if I can trade consistently here, then trading in the first 3 hours should be a more pleasant experience.
On TWS, I enter trades off the market depth window, then once in I immediately create a closing stop order. This order then appears visually as a horizontal line on my linked chart which I transmit then I simply drag to the price I want it to trigger at, for example the opposite end of the previous candle. I know a random block order away from market could trigger my stop but it is a risk I am willing to take at present. If the price action is volatile I adjust stop level to take this into account, to avoid getting whipsawed.
I was just wondering if you would like to share how you manage your exits, or if anyone else would like to provide feedback or constructive criticism on the method I've described
Cheers,
Aaron
amit1986
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Yes, that is essentially what I was doing. None of my bids got filled, which gave me additional confirmation of buying pressure.
amit1986
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Amit,
A question about the mechanics of your trade exit using IB and TWS.
For background, I am still currently paper trading Mr Chart's methods, and have over the last few weeks reeled myself back in from making too many trades in what were breakouts but without the momo and occasionally on a chart that was more messy than I'd prefer. I'm generally trading from about 1:00pm to 3:00pm ET (I live in Australia and this is the couple of hours before I go to work!) so there is no doubt chop in the markets at this time and I figure if I can trade consistently here, then trading in the first 3 hours should be a more pleasant experience.
On TWS, I enter trades off the market depth window, then once in I immediately create a closing stop order. This order then appears visually as a horizontal line on my linked chart which I transmit then I simply drag to the price I want it to trigger at, for example the opposite end of the previous candle. I know a random block order away from market could trigger my stop but it is a risk I am willing to take at present. If the price action is volatile I adjust stop level to take this into account, to avoid getting whipsawed.
I was just wondering if you would like to share how you manage your exits, or if anyone else would like to provide feedback or constructive criticism on the method I've described
Cheers,
Aaron
I use the Rapid Order Entry screen in TWS. I simply type in the symbol, quantity, and then select "Buy" or "Sell". Once my trade goes through, I immediately re-enter the information and keep my cursor on the opposite button (Sell if I am long; Buy if I am short) and if price starts to move against me, I quickly get out.
Hope it helps.
