| rlschapman |
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Gold User, Member, TeleChart
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| Registered User |
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| Unsure |
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| Tuesday, July 7, 2009 |
| Wednesday, November 5, 2014 8:07:13 AM |
15
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QUOTE (pthegreat) Do you see the TSV bearish divergence as of early August? Volume also is drying up a bit on this last leg up. Plus (near) Doji's forming. Could a reversal be insite? I've liquidated most of my long positions. and wait for either the reversal to go short. or a clear sign we're moving higher.
Volume comparisons that many have made mention about are for the most part moot. It's only sensible to expect market activity to spike during periods of uncertainty and high volatility and for volume activity to decline or "normalize" as volatility declines. It is unsensible to draw unsensible correlations to one the most volatile 9 month spans in decades. Average weekly volume since 09 March 2009 is higher than the average weekly volume for all of 2007 during the height of the bull market (and any period beforehand).
The divergence I've noticed has nothing to do with TSV, but I do agree that it is wise to proceed with caution. I'd be concerned that the market is establishing slightly new highs despite the Dry Bulk Shipping Index being markedly below it's highs of late October; or take notice that the volatility index(VIX) is not establishing new lows as it did during our last reach towards 110 on the SPY as the market made new highs for the year. The dollar has already displayed strong resistance at the 1.50 EUR/USD level and would end this rally singlehandedly if it does not further decline.
At this point a clear sign for me would just be holding above $111 on the SPY or the EUR/USD pair breaking 1.51 which does not seem too much to ask of the market. I remain on the other side until either occur.
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I want to ensure that StockFinder (or Telechart) can keep track of price gaps on Platinum version. Especially, intraday gaps that would not appear on daily candlesticks. This is very important. I am weary of missing an intraday gap that occurred prior to the locally stored historical data set.
1. How much intraday data is and can be stored on the user end? I can't readily find any documentation that clarifies how much intraday day can be stored locally.
2. If customers can download 1 month of historical intraday will any intraday saved prior to the last 30 days be saved or replaced? Is there a way to review data prior to this 30 day limit locally?
Is it possible to download and import historical data using the MarketDataReader feature(or any feature) into StockFinder (or Telechart) that exceeds the timeframe of locally stored data or will it be limited to the time series of data stored locally?
The only related information I could find on this issue is here:
http://videos.blocks.com/SnapSheets/SWF/csvreader/csvreaderblocks.html
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I should add that if you are doing so to maximize(minimize) that position for tax implications then it could be wise to do so. However, your capital in that position should be above a certain dollar amount relative to your income and expenses in order for that to make sense. You could wait a few sessions and see if there is any counter move to the upside so that you can exit, but you should question yourself on hoping for a rebound that may never occur or one that could take years. Think of the opportunutiy costs. It is best to move on and take your remaining capital to be utilized somwhere else.
You don't want to be "that guy" who bought Yahoo at $200 or Lehman Brothers at $18 that suddenly converted into a long-term investor. However, this is your test case(not ours). I already endured through several grueling case studies a long time ago.
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QUOTE (azureflames)
OK, here is a good test case for us to learn from.
So......... if you are like me, the stock gapped right though my stop loss (big time) and I am looking at a hefty loss. I went ahead and cancelled my stop so it would not get filled first thing in the morning hoping that some of this gap would be filled. In the meantime, looks like I will be holding onto SQNM for longer than anticipated in order to not take a big hit.
An inconsistent strategy is the quickest way to the bottom. (Believe me I'm a Cleveland Browns fan )
Only losing traders turn into investors...
There are countless examples to learn from over the past 52 weeks as to why you should move on (WNR, C, FNM, FRE), but it's ultimately your decision. However, you are now letting the house play with your money.
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QUOTE (hiromj) I have been using TOS to paper trade the E/Mini (as mentioned in a previous post) and I really do like their software. The issue I am having is that they charge $7.00 RT per contract which I find to be a bit high. I checked IB and their website quoted $3.62 RT. I want to go live next month so I wanted to hear about what broker other people use for this and any recommendadtions would e appreciated. I did contact TOS and requested them to lower the commissions but they basically to climg the commissions ladder.
Cheers,
Mike
It largely depends on the following factors: trading volume and trade length; if you are scalping, intraday swing trading then intraday margin is very important and whether you plan to hold overnight; if you are automated or using discretion; compatible trading platforms; if you will rely on the provided datafeed from your broker; how much you value customer service (especially lockups during high volume period) and broker services (if you want a one stop shop).
You have to factor in the montly fees into your costs charged by TradeStation or any platform broker. You mentioned that you are going live soon and you're concerned about R/T costs so I am assuming that you are referring to the fact that you'll be using a custom ATS. If you plan to trade frequently (above 100 per month) I recommend that you use an external datafeed such as Rithmic or have access to one as a backup. You don't want to solely rely on your brokers datafeed and experience datapoint holes when backtesting or experience freezing during periods of extreme activity with no backup to compare results or spreads.
If you don't need a one-stop-shop broker like TOS or IB then read up and consider GlobalFutures and Velocity Futures due to their superior trade execution, low turn costs and available platforms. I've read and heard nothing but great things about the two when coupled with TT (X-Trader).
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QUOTE (intothetrade) entry is only half the trade
you also have to consider money management and risk management
losses are predictable.. gains arent
I can't emphasize this quote enough. Trading is unlike anything else in life and goes against every innate human characteristic when experiencing pleasure or loss, considering risks, etc.
You should be more concerned with limiting losses than expecting huge gains. In other words: You should be more concerned if your brakes work opposed to worrying about how fast your vehicle can go. If you intend to change investment vehicles rather frequently you better ensure of this first and take notice when that vehicle is low on gas.
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I use modified versions of MACD, ATR, and ADX. Typically, the only information on volume I use is to determine whether an equity is liquid enough for me to trade. The only volume study I've seen that is very helpful is market profile and depth-of-market for traders with very short time frames (for scalpers and day traders) and requires Level II market data. Anything else about volume is highly subjective, IMO.
Price and volume are not indicators. I state that as I would the fact that the letter "Y" is not a sentence nor is the number "3" a function. They gain further meaning in combination.
Some believe that price and volume is all you need, but they've studied these pattrns of lettres lnog enuogh to be albe to decihper the maening of tihs sentnece withuot a prolbem. Tihs may tkae yeras of prcatcie to accomlpish and is sitll sujbectvie.
I will do you a favor and tell you to save your time and avoid Gann Lines, Gann Arcs, Fibonnaci Arcs, and anything that relies on Sesame Street geometry lessons and is subject to scaling. It's a complete waste of time. Kudos to anyone who uses these methods and has remained profitable.
You mention Renko and Kagi. I wouldn't claim them as indicators. They are different methods of charting just as line, bar, and candlestick charts differ. I often refer to Point & Figure charts. If you're trying to understand price action then the information in P&F charts can not be duplicated by any other method of charting that includes time. You don't need a protractor or special drawing tools to discover trend direction or support and resistance levels that may have spanned months or years. P&F charting is truly a lost art. The only drawback I have with TC and SF for stock trading is that it does not have true P&F charting capabilities.
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Thank you for the reply.
I suppose I will have to do this outside of Telechart. What is the formula for CCI 20 in Stockfinder? I am completely new to the syntax.
Thank you in advance
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I have struggled with this during my off time for more than two weeks. I have a lot of syntax, but I am not getting the same results as I do on FSC or visually on TC
I am trying to create a PCF that calculates the 50-day EMA for comparisons.
Formula for CCI 20: **Hopefully correct**
(H + L + C - AVGH20 - AVGL20 - AVGC20) * 4000 / 3 / (ABS(H + L + C - AVGH20 - AVGL20 - AVGC20) + ABS(H1 + L1 + C1 - AVGH20 - AVGL20 - AVGC20) + ABS(H2 + L2 + C2 - AVGH20 - AVGL20 - AVGC20) + ABS(H3 + L3 + C3 - AVGH20 - AVGL20 - AVGC20) + ABS(H4 + L4 + C4 - AVGH20 - AVGL20 - AVGC20) + ABS(H5 + L5 + C5 - AVGH20 - AVGL20 - AVGC20) + ABS(H6 + L6 + C6 - AVGH20 - AVGL20 - AVGC20) + ABS(H7 + L7 + C7 - AVGH20 - AVGL20 - AVGC20) + ABS(H8 + L8 + C8 - AVGH20 - AVGL20 - AVGC20) + ABS(H9 + L9 + C9 - AVGH20 - AVGL20 - AVGC20) + ABS(H10 + L10 + C10 - AVGH20 - AVGL20 - AVGC20) + ABS(H11 + L11 + C11 - AVGH20 - AVGL20 - AVGC20) + ABS(H12 + L12 + C12 - AVGH20 - AVGL20 - AVGC20) + ABS(H13 + L13 + C13 - AVGH20 - AVGL20 - AVGC20) + ABS(H14 + L14 + C14 - AVGH20 - AVGL20 - AVGC20) + ABS(H15 + L15 + C15 - AVGH20 - AVGL20 - AVGC20) + ABS(H16 + L16 + C16 - AVGH20 - AVGL20 - AVGC20) + ABS(H17 + L17 + C17 - AVGH20 - AVGL20 - AVGC20) + ABS(H18 + L18 + C18 - AVGH20 - AVGL20 - AVGC20) + ABS(H19 + L19 + C19 - AVGH20 - AVGL20 - AVGC20) + .00001)
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Did you abandon your blog?
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