Day Trading Brokers
Discussion and questions about brokers.
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RECENT POSTS
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By daniel.wang730 · Posted
I see, thanks for letting me know. I'm ok with not having a good way to automatically trade, since the main purpose of this would be to confirm setups. Does Ninjatrader basically just come with the data, and you can write your own scripts on what setups you what to filter for, what parameters you want to set, etc.? -
Yes, I have been using Ninjatrader for back testing the last 2 years, but on Futures. Now that I just started back into Equities I will probably start writing the algorithms in about a month. The algos are more for back testing than for taking automated trades (which they can do as well). Also, Ninjatrader had the best charting I have seen. Gotta love the 1sec candle chart... -
Is a Tick Chart useful for market opening trades? Hi everyone. I have been a little lacks with my posts as of late, but I only recently got back into equities. I have been trading Futures for the past 2 years. Actually, I never planned to trade Equities live. I got into trading solely to become an algo trader. But soon after starting I realized I should learn live trading first. I think I was a little slow on the learning curve, This was before BBT had all these great resources and trainers. But I did finally get to profitability. But I never liked live trading. So, after being profitable for a time I started writing algos. Quickly I realized algo trading is better with Futures so I became 100% Futures trading. Had fun with it but recently I found a new setup that is really good, but it’s easier to take live. After a couple of months of that I got hooked and was ready to try trading equities live again. So, I got my DAS account back and started watching BBT videos to catch up. Two weeks ago I started trading live. A few days demo to see if the hot keys worked then started live trading at one tenth normal risk. It’s been entertaining. But I have been green or BE for the past 7 trading days, so of course it would be fun. Once I get a few red days under my belt I may think differently. I noticed a few things are different with my trading since last time. Two years ago, my only setup was ORBs. Now I instinctively look for fallen angels or rising devils. Though I have taken a couple of ORBs. I used to wait for at least 90 seconds after the open before taking a trade, Now I have taken several trades before 1 minute. Previously I greatly favored longs. Now I am reasonably not swayed by long/short. Though I may have a day to day preference based on the overnight ES or NQ Futures. Since I am watching them anyway. Two years ago I had a desktop computer with 4 screens and now I have 3 laptops though one is attached to a screen. I use to look at least 6 if not more stocks at once at the open. Now I limit to 3. I use to turn off the BBT Chat right before the open. Now I leave it on. And lastly, probably the biggest difference is I have the stocks tick chart on a screen if I am interested in trading it that morning. Since it’s common to use tick charts for Futures, I got use to reading them. I haven’t seen the tick charts make a big difference. But they have been helpful. They are good at showing extrema that you are unable to see since it occurs inside the 1min candle. For example let me show you PDD trade I took Friday. It was essentially a break even trade. But would have been a full stop without the tick chart. So I tried a rising devil. I waited for the price to bounce back to the VWAP and the price stalled on the tick chart, so I went short. I had a small stop so the $91.20 goal was almost a 2R trade. So here is the play by play on the tick chart. If you were wondering if the chart has to be a tick chart or just one with very small intervals? Below is a 1sec candle chart of the same time frame. For the most part you can get the same price action information on the 1sec candle chart. What I like about the tick chart especially at the open where you have very little time to think, is the tick chart gives price and volume on the same chart. While the chart above is actually two charts, the price above and the volume below. Which takes me longer to process. Anyway, it’s just a preference. This tick chart and 1sec chart was from Ninjatrader. I can make stock trades from Ninjatrader but it is too slow for the open. So I use it for charting only at the open. So, it’s nice to be back. I hope everyone is doing well. Rob C
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By daniel.wang730 · Posted
Hi everyone, I was wondering if anyone has either come across software or created their own program to mass backtest day trading strategies. Specifically, I'm imagining a program that has multiple years of stock data loaded in, and then by 1) setting filters to find the Stocks in Play with the right conditions and 2) setting parameters for potential entries, you can get every instance of a particular trade setup. With that information, you can first see some chart excerpts to confirm your parameters are correct, and after adjusting, you can then run mass simulations to see what would happen if you used a particular strategy. Some good strategies to test first might be ORBs or ABCD patterns, but overall, I wanted to see if there were a more systematic or data-driven approach to trading. Apologies if this doesn't make much sense; I haven't thought about every aspect of this fully, but I think a tool like this would be extremely helpful for both trading and learning. I've started developing some code of my own towards this goal, but if there's already an established software or if there's someone who knows about doing something similar, please let me know, I'd love to connect. Thanks, Daniel -
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