Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I considered buying into K period, but don't like to positioning of CL with ES.
Done, positive 81, and would be better if my computer were working right. I had started to wonder if reducing the resources required for the trading platform would fix the issue, and may be ready to find out by next week. I got the data to load finally in SC, and am going to try out the order system after 2:30pm on ES simluated.
AND, today is the first I have traded mimicking @Private Banker's charts and it kind of freaks me out a little...
Can you help answer these questions from other members on NexusFi?
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
Looks good! Only thing you may want to adjust is your initial balance doesn't appear to be set up correctly. For ES, it should be from 9:30AM - 10:30AM (A and B period).
I am not trading ES, just watching it on a single chart, and today I threw the chart template that I made recently for CL onto it without making any adjustments, so the IB was from 9-9:30am. But thanks for looking out for me there.
Be careful until you have tried it for awhile. I got nearly everything to look the same after playing with it for 3 days, but today when I tried execution in sim, whole different story. I undertstand it, but did not realize how much there is to "customize" just to get it to function similar to NT.
Here are some examples;
The default chart trade setting has buy orders as green, sell orders as red. I would have thought that was what I wanted. But entered a long trade and the brackets on boths sides of it were the same color, green (BUY limit + BUY stop). Then, my entry price was also green, but would turn red if it went negative. It may sound trivial, but it is enough to cause visual discomfort of not being completely sure of everything. And, while it allows me to change the colors, I still have to choose a single color for BUY stops (as far as I can tell), so I can have STOPS be red, but if I wnat to enter on one have to be prepared for that visual.
The default sound is the same for ORDER PENDING, ORDER FILLED, ORDER CANCELLED, STOP FILLED, etc. The fact that the visuals show the trade has occured, or changed, or whatever, helps, but not knowing for sure does not feel good, even in sim. I was able to copy the sound files from NT into SC, but it is not possible to get every single action to sound the same in every situation, as SC wants to assign a single sound to certain actions. I can't recall which right now, but you will see.
When I changed from simulated to live, not to take a trade, but just to see if I knew how, my account number came up in the chart trade window. That part was easy enough. But then I could not figure out how to confirm my account balance, and discovered that the only way I could find was to add a "Chart Study" that just put a number on the chart. It was the correct amount, but did not even have a title associated with it. I am so used to NT showing daily info as default.
The P&L display was shown in points by default, and I have not tried to get it to currency yet.
You have to select a box to click/release/click to modify an order if you ant it to be the same as NT. Otherwise i makes you drag the order modification. And I have not yet learned how to turn off confirmation for every order entry or chnage, except that when I click the "X" on the order line it is immediate.
"CANCEL ALL" does not flatten you. "FLATTEN" does. The former only leaves your position with no stop loss or targets.
While none of that spells deal breaker, it was the most uncomfortable part of the change so far. I am sure you know that any little thing that causes additional stress, or questioning, or confusion, or doubt, is not a good thing when in a live trade. I will keep messing with it this week, but not ready to trade live even though I have the capability.
Let me save you some time. It took me a day to figure out how to turn off the confirmation.
To turn off the confirmation button click on the M on the chart trader. You also have to use this to save trade configurations. This would be the same as a ATM in NT. See screenshot.
To change points to profit go to the menu Chart --> Chart Settings then click on the advanced tab. See screenshot.
I was a little freaked out about the colors as well for the trades however, after a week of using it it actually makes more sense. I think you can customize these to whatever color you want.
This also bothered me at first, coming from the NT world. Here is essentially the difference:
In NT, orders can be colored differently depending on whether they are entry orders, or exit orders.
In SC, each type of basic order (buy stop, sell stop, buy limit, sell limit) can be colored only one color, regardless of whether they are entry or exit orders; however, the position line can be colored different based on long/short, or based on profit/loss. Personally, I have a single line color whether I'm long or short.
It bothered me at first and it bothered me a lot. Then I got used to it, and I appreciated that a sell order is always red, and a buy order is always green. So if I'm short, I'll have a buy above my entry, and a buy below. Associating "red" with "loss" is fine, but also associating "red" with "sell" is very logical too.
It is displayed on the Trade->Trade Orders and Positions window. Be glad you have a broker that even shows the account balance, TT users for example, do not have access to this information on any platform
By the way, when you become a SC Spreadsheet guru (which I am not lol, but tomgilb is and has helped me), you can put cool things like this in your chart region data line, and have it automatically flatten you when conditions are met, etc:
I think Silver Dragon helped you with these already, and all are customizable.
This makes sense though, yes? Cancel cancels all working orders. Flatten closes all open positions, and cancels all working orders. If you had some positions on but wanted to redo your "ATM" strategy, you wouldn't want to have to cancel every order one-by-one; you'd want to be able to cancel them all, then put your new orders in. I do this a lot when I scale in, and want to redo my targets and stops, which NT does not allow you to do (assign an ATM strategy to an already-open order).
I agree 100% Gary. For me I spent a LOT of time in sim mode figuring out how to do what I wanted. SC's attached orders and overall trading system does much more than NT but it's also a bit more complex, so it's a bit of a tradeoff. But like everything else in this case, it's just a matter of familiarity. No need to rush it.
