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EdgeProX from Edge Clear


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EdgeProX from Edge Clear

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  #21 (permalink)
 Tyro 
Houston Texas
 
Experience: Intermediate
Platform: Sierra Chart, TOS
Trading: Futures
 
Posts: 44 since May 2010
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I've noticed in the trader-byte Morad still sees IRT as his goto platform. He executes on EdgeProX but he still does his homework and studies in IRT. He seems more comfortable in Lynnsoft software. .

Will Morad ever abandon IRT and go straight to EdgeProX as his default platform, make EdgeProX the one where he does his analysis and research?

I really love to have multiple platforms and feeds but my pockets are not that deep.

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  #22 (permalink)
 FuturesTrader71 
 
 
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Tyro View Post
I've noticed in the trader-byte Morad still sees IRT as his goto platform. He executes on EdgeProX but he still does his homework and studies in IRT. He seems more comfortable in Lynnsoft software. .

Will Morad ever abandon IRT and go straight to EdgeProX as his default platform, make EdgeProX the one where he does his analysis and research?

I really love to have multiple platforms and feeds but my pockets are not that deep.

Hi @Tyro,

Since this question is really directed at me rather than @EdgeClear, I figured I would step in and answer it myself.

Yes, I do show IRT during the Trader Bite, and a lot of what I post in terms of charts. This is mainly due to familiarity and the true purpose of IRT: A long-term analytics package. EdgeProX has many of the same capabilities but is really strongest in shorter-term analysis and active trading. They fulfill different requirements for me. Since Edge Clear launched EdgeProX in April, there has been a dramatic improvement in what the platform can do. Other than very long-term analysis and statistical studies, EdgeProX gets the job done completely on its own.

For example, the Heat Map in EdgeProX has all of the capabilities I need to see the order flow. The Order Flow template I use with the "footprint" with print imbalances and the rotations, cloud levels, mid/vwap for RTH and Full session, Cumulative Delta broken down into Vlarge, large and small lots, order history, EdgePro Line and has the profiles needed as well as a tape that can be highly configured. The only thing I don't feel comfortable using it for is long-term composite charts. See images for some of the detail that has been recreated in EdgeProX that I use in IRT:

EdgeProX Order Flow Chart


EdgeProX Active Chart


Bottom line: Unless you need to do a lot of detailed work on long-term charts, in my opinion, EdgeProX handles the demand exceptionally for $34.99.

NOTICE: I am the owner of and have a direct financial interest in Edge Clear. My comments above must take this potential conflict of interest into account. My opinion is driven by what I believe are facts, but I want to be transparent here.

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  #23 (permalink)
 Tyro 
Houston Texas
 
Experience: Intermediate
Platform: Sierra Chart, TOS
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FuturesTrader71 View Post
Bottom line: Unless you need to do a lot of detailed work on long-term charts, in my opinion, EdgeProX handles the demand exceptionally for $34.99.

FT, I have tremendous respect for you, so don't take this as being snarky.

My perception of your core teaching is traders should "... do a lot of detailed work on long-term charts". The "structured trades" require prep and homework plus big picture analysis.

I am, by inclination a shoot from the hip, short term analyst but I am trying to adopt your longer term, bigger picture philosophy. I see the merits of this approach.

Can the design of EdgeProX further my efforts in that regard today?

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  #24 (permalink)
 FuturesTrader71 
 
 
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Tyro View Post
FT, I have tremendous respect for you, so don't take this as being snarky.

My perception of your core teaching is traders should "... do a lot of detailed work on long-term charts". The "structured trades" require prep and homework plus big picture analysis.

I am, by inclination a shoot from the hip, short term analyst but I am trying to adopt your longer term, bigger picture philosophy. I see the merits of this approach.

Can the design of EdgeProX further my efforts in that regard today?

Hey @Tyro,

I appreciate the note. About 90% (guesstimate) of what I need in order to trade structured setups is available in EdgeProX. But analytics packages like IRT, Sierra Chart and others are designed for that aspect specifically. When comparing the cost of EdgeProX ($34.99) to IRT ($125 for the package I use), clearly the intent of EdgeProX isn't to do all that IRT can do. But it does everything that I need in order to trade from it without any help from any other software. EPX is tuned more for the active trader and it does a fantastic job, in my opinion.

In other words, if you don't need back-adjusted charts going back 10+ years and don't need the ability to export detailed studies and so on, then EPX is enough. But if your intention is to do deep analytics and edge development, then you will need to supplement EPX with a package designed for analytics (IRT, Sierra, Multi-Chart or whatever else).

Again, for someone who needs short- to intermediate-term tools with excellent order flow capabilities including a heat map, footprint, and so on, then I really don't feel like EdgeProX can be beaten. This is why I use it. I never recommend anything that I don't myself use daily.

I hope this helps!

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  #25 (permalink)
 fivewhy 
Fort Lauderdale, Florida, USA
 
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I really appreciate a coherent explanation like this. You don't see this very often on the interwebs.

I've toyed around with writing Java code for EPX/MW and I think some medium term (e.g., 20 session) statistical stuff could possibly be added (with much time and money sunk into dev) but I understand the point about this not being critical to my daily trading as I can get those stats from other sources. By definition, the med/long term stuff doesn't change quickly. But intraday immediate analysis is where the rubber meets the road.

Anyway, thanks for the explanation.

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  #26 (permalink)
 shortride 
Merced Ca USA
 
Experience: Intermediate
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On my Edgeprox charts when i enter a position, numbers appear at the right side of the chart showing exactly where a 100.00, 200.00, 300.00 profit/loss would be. Is there anyway to see those numbers BEFORE i enter a trade? I understand i would have to choose a default number of contracts.

The closest thing i have found is "Envelopes" under studies but when watching a 5 min chart in a fast moving market it they can be off quite a bit because they are based on the close of the last bar. i am looking for something that would be based on the current price.

“Enter by the narrow gate; for wide is the gate and broad is the way that leads to destruction, and there are many who go in by it. Because narrow is the gate and difficult is the way which leads to life, and there are few who find it.
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  #27 (permalink)
 EdgeClear   is a Vendor
 
 
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shortride View Post
On my Edgeprox charts when i enter a position, numbers appear at the right side of the chart showing exactly where a 100.00, 200.00, 300.00 profit/loss would be. Is there anyway to see those numbers BEFORE i enter a trade? I understand i would have to choose a default number of contracts.

The closest thing i have found is "Envelopes" under studies but when watching a 5 min chart in a fast moving market it they can be off quite a bit because they are based on the close of the last bar. i am looking for something that would be based on the current price.

Hey @shortride,

Unfortunately, EdgeProX does not have a way for you to view your Profit/Loss prior to executing a trade. Only after you place an order.

Thank you for using EdgeProX!

Best,

Please call us with any questions 773.832.8320 or 844.TRADE20. Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
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  #28 (permalink)
 shortride 
Merced Ca USA
 
Experience: Intermediate
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Broker: Datek :)
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Posts: 18 since Apr 2013
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Really? You do understand what i am asking right? If i am looking at NQ and support is at 14507 and current price is 14532 all i want to know is if i plan to set my stop at 14490 how much will i loose per contract if stopped out WITHOUT getting out my calculator. i can't believe no one has ever written a computer program that can do that!

“Enter by the narrow gate; for wide is the gate and broad is the way that leads to destruction, and there are many who go in by it. Because narrow is the gate and difficult is the way which leads to life, and there are few who find it.
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  #29 (permalink)
 josh 
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shortride View Post
Really? You do understand what i am asking right? If i am looking at NQ and support is at 14507 and current price is 14532 all i want to know is if i plan to set my stop at 14490 how much will i loose per contract if stopped out WITHOUT getting out my calculator. i can't believe no one has ever written a computer program that can do that!

Yes, really. It would be straightforward to code based on orders. I've seen indicators you can attach to a chart that will do this for you. But TBH, I've never seen it as "standard" on any trading software. People tend to do this in their head and frankly, not that many people use the P/L column on the live trade either. I'm not saying it wouldn't be useful to some people, but most traders don't need a calculator to multiply (in your scenario) $20 * 40 * # of contracts.

Again, I can see it being useful, but it's just not common.

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  #30 (permalink)
 shortride 
Merced Ca USA
 
Experience: Intermediate
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Broker: Datek :)
Trading: Futures
 
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Posts: 18 since Apr 2013
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Maybe most people don't trade as many different symbols as i do, i trade everything from 6A to YM and i don't think anyone can keep all the different tick values in their head. If you just traded YM which is 20 points per contract for a 100.00 stop, then trade 6J which is .0000080 for the same size stop that's hard to do in your head when you are in a hurry to get the trade on.

“Enter by the narrow gate; for wide is the gate and broad is the way that leads to destruction, and there are many who go in by it. Because narrow is the gate and difficult is the way which leads to life, and there are few who find it.
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