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10% per day, no way
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10% per day, no way

  #61 (permalink)
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felixtjung View Post

4. I myself generate the signal automatically, but I still have to enter it manually because I haven't found a good reliable way to interface with the bloated TWS APIs. (As a point of reference, I profit 100% per year on average with swing trading 5 minutes / day.)

you should look at sterling for interfacing your OMS...

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  #62 (permalink)
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sysot1t View Post
you should look at sterling for interfacing your OMS...

This is probably off-topic, but that looks good. But, it request for password on the installer? >.< I guess I have to request the demo. Is there any easy interface to C#?

Thanks again

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  #63 (permalink)
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felixtjung View Post
Is there any easy interface to C#?

yes, but there will be a latency issue... albeit small, which might not be an issue depending on what you are doing.. from my bookmarks..

http://sterlingfinancialsystems.com/documents/Documentation/ActiveX_API_Guide.pdf
http://sterlingtrader.com/documents/Sterling_ActiveX_API_Guide.pdf

if you are using IBKR for futures mainly, then look at the TT FIX Adapter and you can then go with Advantage Futures or any other TT FIX Adapter provider.,, either way you will pay the same $0.20c RT per trans, but what will make a difference will be the provider(FCM) gateway...

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  #64 (permalink)
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DionysusToast View Post
You are entitled to that opinion. Still - I have yet to see scientific proof from you that mine is an opinion and not real fact.

Of course, if you can prove beyond doubt that this is just an opinion of mine, I will be willing to look at the results of your analysis.

Until that point, your opinion as regards my statements being opinion or fact is just that - your opinion.

My facts, therefore remain unchallenged and should be seen as the truth, the whole truth and nothing but the truth.



As are the laws of trading TMFT. Unless you want to show how risk and reward are not associated.

And I got up from my nap for this...

You have stated your opinion, Sir... not facts...

I stated my opinion ...of your post.... which is my opinion ... and that's a fact

I never said you were wrong... only lacking supporting documentation to show your opinion is factual


Like my momma always said," Son, Your mouth ain't no Prayer Book and everything that comes out of it ain't gospel."

Reminds me a lot of newly minted MBA's... they're not always right... but they are never in doubt...

I am sure this conversation will carry on long after I'm gone... without me...

Regards,
TMFT

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #65 (permalink)
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ThatManFromTexas View Post
And I got up from my nap for this...

You have stated your opinion, Sir... not facts...

I stated my opinion ...of your post.... which is my opinion ... and that's a fact

I never said you were wrong... only lacking supporting documentation to show your opinion is factual


Like my momma always said," Son, Your mouth ain't no Prayer Book and everything that comes out of it ain't gospel."

Reminds me a lot of newly minted MBA's... they're not always right... but they are never in doubt...

I am sure this conversation will carry on long after I'm gone... without me...

Regards,
TMFT

Actually, I'm really tired of this pointless arguments. So, i'm right behind you.

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  #66 (permalink)
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In terms of $50k vs $100k account - no real difference in my opinion. What is important is how much you risk. As accounts get smaller & smaller, then it is harder and harder to make a reasonable risk.

There are 2 issues with undercapitalisation.

1) Anyone with $3,$5,$10k who wants to make a living trading is undercapitalised.
2) Anyone, with ANY account balance, who attempts to make 10% per day will blow up.

Now - if 10% from $3k is possible, which some people here are saying. Then let's first figure out how it could be achieved:

1) Many small trades across different markets.
2) A couple of large trades a day.

Option 1 - I gave an example how in stocks this would eat away at you with commissions.

So - please, those proposing option 1, please let us know:
i) What markets would be traded?
ii) What would the typical time in trade be?
iii) How many trades per day?

Option 2 - a couple of large trades per day.

For those proposing option 2, please let us know
i) What markets would be traded
ii) The percentage return you would aim for per trade and the risk you would assume to do that (of course remember that you need to trade on a daily basis)
iii) Win rate

If you do that, I will point out where the size of the account will be overcome with the attempts to make the large return.

In this way, we will scratch the surface and make things a little more scientific.

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  #67 (permalink)
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The key in a nutshell is consistency. Without it someone has no business even trading live. Anyone that has consistency will blow your theory right out of the water.

“The more I am around people, the more I love my dogs.” ~Author Unknown
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  #68 (permalink)
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DionysusToast View Post
In terms of $50k vs $100k account - no real difference in my opinion. What is important is how much you risk. As accounts get smaller & smaller, then it is harder and harder to make a reasonable risk.

There are 2 issues with undercapitalisation.

1) Anyone with $3,$5,$10k who wants to make a living trading is undercapitalised.
2) Anyone, with ANY account balance, who attempts to make 10% per day will blow up.

Now - if 10% from $3k is possible, which some people here are saying. Then let's first figure out how it could be achieved:

1) Many small trades across different markets.
2) A couple of large trades a day.

Option 1 - I gave an example how in stocks this would eat away at you with commissions.

So - please, those proposing option 1, please let us know:
i) What markets would be traded?
ii) What would the typical time in trade be?
iii) How many trades per day?

Option 2 - a couple of large trades per day.

For those proposing option 2, please let us know
i) What markets would be traded
ii) The percentage return you would aim for per trade and the risk you would assume to do that (of course remember that you need to trade on a daily basis)
iii) Win rate

If you do that, I will point out where the size of the account will be overcome with the attempts to make the large return.

In this way, we will scratch the surface and make things a little more scientific.

What's the point arguing about all this stuff if you cage your way of thinking like that. The truth is no matter what people say, you'll ignore it because you have made commitment to your own self that you'll persist no matter what the cost is.

What we are dicussing is definitely what we DO NOT call "normal return rate". IT IS ABNORMAL, hence, you can't use normal way of thinking and trading to achieve that kind of result.

In order to achieve ABNORMAL RESULT, you have to think and trade ABNORMALLY.

Now that you have indulged my curiousity and I feel challenged to attempt this in live trading myself.

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  #69 (permalink)
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felixtjung View Post
What's the point arguing about all this stuff if you cage your way of thinking like that. The truth is no matter what people say, you'll ignore it because you have made commitment to your own self that you'll persist no matter what the cost is.

What we are dicussing is definitely what we DO NOT call "normal return rate". IT IS ABNORMAL, hence, you can't use normal way of thinking and trading to achieve that kind of result.

In order to achieve ABNORMAL RESULT, you have to think and trade ABNORMALLY.

Now that you have indulged my curiousity and I feel challenged to attempt this in live trading myself.

It seems that people are happy with an unscientific "is possible" but not with an unscientific "is not possible".

Thus far we have agreed on "10% per day isn't scaleable" - and no-one is asking for scientific evidence of this as it is accepted, although the boundaries of scaleable are yet to be defined. In my opinion - if you turn $3k into $2m in 50 days, it is scaleable.

If we get into the details about hypothetical systems, we can examine the impact of inescapable factors, such as commissions,spreads and time on these systems.

So - why not look into what people think is possible ? which seems to be 10% on a small account. We can examine this and the factors that would impact the performance. Lets narrow down the types of system that could be implemented and look at the roadblocks.

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  #70 (permalink)
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I just love this discussion! Really enjoying it!

Is it possible?

If you would try this for eternity using random entries and exits, there will be some period where you make 10%/day.
But as none of us will trade that long, its rather theoretical (and you would blow up countless accounts, no matter what size).

Is it scalable?

First of all, who really cares as it is (at least practically) impossible?
Anyways... here we go:
If you would achieve 10%/day for 100 days in a row and start with $100,000 you would end up with $1,252,783,000.

So you couldn't play that game for very long anyways!

Why not go with -10%/day? It's much easier!

vvhg

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