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The Italian Job
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Created: by redratsal Attachments:31

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The Italian Job

  #431 (permalink)
Elite Member
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@Big Mike for your MC gomcd, I noticed you use cumulative values, I assume you run your datafeed 24/7

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  #432 (permalink)
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redratsal View Post
@Big Mike for your MC gomcd, I noticed you use cumulative values, I assume you run your datafeed 24/7

Yes, 24/7, but the MultiCharts screens are not proper CD (see the whole Gom MultiCharts cumulative delta thread), what is being shown is the UpDownTick only.

The other screen is Sierra Charts, with proper bid/ask cdv, and replaces my Investor RT chart due to this issue:
https://futures.io/investor-rt-marketdelta/13176-investor-rt-does-not-support-remote-desktop.html

Unfortunately I haven't yet figured out how to get proper bid/ask study for the updowntick @ trades/ticks and not volume, as there should be an additional panel on my SC chart showing that to complement the bid/ask volume study.

Actually, I recently blew away my Windows 7 install, installed Linux Mint Debian Edition for my main workstation, and am now running all my trading from a Windows 7 VPS in Chicago. I've been running Linux Mint or Ubuntu on my laptop for a long time (a couple years), but decided it was time for me to install it for my main workstation. I still have a Windows 7 virtual machine locally under Linux Mint, which is used only for hosting webinars since GoToWebinar does not support Linux machines.

Mike

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  #433 (permalink)
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CL long 5 contracts, target on the TL -100$. I decided to close the position with a small loss, as we are approaching the regular session (long timing is also an exiting condition). The trade was in a loss state (MAE -1900$) for the most part of it, conditioned as well by the bearish positions of 6E . That was the last trade of the day.

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  #434 (permalink)
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My Daily Recap:

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  #435 (permalink)
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GomCD Reinit Session

I like to Reinit the GomCD count with the new session, I think from a visual point of view it helps to identify better the intentions of the new players' session, especially like in this case when the strategies are opposite.
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  #436 (permalink)
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redratsal View Post
I like to Reinit the GomCD count with the new session, I think from a visual point of view it helps to identify better the intentions of the new players' session.

To each his own, but the reason I don't reset CD each session is because I want to look back and compare previous swing highs/lows so I can see what market participants are doing. I think FulcrumTrader did a good job of explaining this in his last webinar, if you haven't watched it.

If price traded 3 days ago at the same level it is today, but 3 days ago cumulative delta was significantly higher than it is today, that is an indication of weakness and that we may see a move downward soon. Just an example. Another way I use it is to look at major swing points, and see if cumulative delta is "following suit" or not. An example would be if the market continues to make new highs, but cumulative delta is making lower highs - or in other words, selling the new highs - then that is information I want to know.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
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  #437 (permalink)
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Big Mike View Post
To each his own, but the reason I don't reset CD each session is because I want to look back and compare previous swing highs/lows so I can see what market participants are doing. I think FulcrumTrader did a good job of explaining this in his last webinar, if you haven't watched it.

If price traded 3 days ago at the same level it is today, but 3 days ago cumulative delta was significantly higher than it is today, that is an indication of weakness and that we may see a move downward soon. Just an example. Another way I use it is to look at major swing points, and see if cumulative delta is "following suit" or not. An example would be if the market continues to make new highs, but cumulative delta is making lower highs - or in other words, selling the new highs - then that is information I want to know.

Mike

Totally agree with you and FT, one of the reason I am not using his/your method is that I am not using RT and therefore my gomcd is not always beeing updated ( I do not intend to run my PC 24/7), the second I am normally in a trade for not more than two hours and the gomcd data is enough for the existing session, for longer time frames I reference to S&R. I recognize that FT's and RT could give me an added value when the market is strongly playing against my trade and thus avoiding my 5000$ management stop. It's been several weeks that I am thinking to subscribe to RT, the fact that you can download historical CD data is a great advantage.


Last edited by redratsal; August 30th, 2011 at 11:26 AM.
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  #438 (permalink)
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$26/mo gets you Sierra Chart with cumulative delta + backfill:
Sierra Chart - Description of Software Service Packages

Investor RT is a great platform but you should probably want to use it for more than just cumulative delta, as it can do so much more. SC is a quick and dirty way to get CDV cheap.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #439 (permalink)
Site Administrator
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Posts: 46,240 since Jun 2009
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Sorry, I may be wrong:
Sierra Chart Historical Data Service

I am not sure, as I have IQFeed. But there page specifically says it doesn't support bid/ask historical, yet I thought when I initially setup SC and was using TT (not IQFeed) that it did backfill the cumulative delta study. Hmm.

EDIT: I just did a quick test -- it did indeed download historical bid/ask and produce the cumulative delta study correctly using the SC historical servers.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.


Last edited by Big Mike; August 30th, 2011 at 12:02 PM.
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  #440 (permalink)
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Posts: 1,653 since Oct 2010
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Big Mike View Post
Sorry, I may be wrong:
Sierra Chart Historical Data Service

I am not sure, as I have IQFeed. But there page specifically says it doesn't support bid/ask historical, yet I thought when I initially setup SC and was using TT (not IQFeed) that it did backfill the cumulative delta study. Hmm.

EDIT: I just did a quick test -- it did indeed download historical bid/ask and produce the cumulative delta study correctly using the SC historical servers.

Mike

Thanks a lot for the hint, I will look into it, I also would like to wait for the NT 8 version, maybe they will implement it.

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