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Trading on the iPAD


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Trading on the iPAD

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  #1 (permalink)
 
 
Posts: 1,176 since Nov 2009

This will be a journal about attempting to use the iPAD for trading discretionary. I find there are times during the day that I wished I had remained in touch with the markets while working and entered some positions or trades. I always carry my laptop with me, but while at work that becomes more cumbersome since I should not be trading while working at the same time. I wanted to find a better way to address that need and as such I figure that perhaps the iPAD was somewhat ready to address my needs.

I evaluated various android based devices, and to me the better one is the samsung in terms of ergonmics; however, the lack of application support is troublesome and as such that left for me two options, to get an iPAD or to get a HP Slate. I have not yet desisted of a HP Slate, but I figure I try out first the iPAD and see what happens. Worst case scenario, my kids will benefit from it if it does not perform as I desire.

A few ground rules:

- demo account only (no sense on risking real $$$ on this exercise)
- no scalping (latency would just plain and simply kill me)
- max contracts limited to 5 for futures
- max contracts limited to 10 for options (on equities and futures)
- no fast moving instruments (stick to ES/NQ/ZN?/ZB?)
- options are a critical part of the testing (mainly directional bets)
- day trading only (no long term position holding, such is my preference as I like to be on cash by EOD)

not sure of the broker to use yet, that is part of the exercise of determining the application stack on the iPAd to carry.

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  #3 (permalink)
 
 
Posts: 1,176 since Nov 2009


As I mentioned, I research all android devices; they were found to be lacking. I then decided on the iPAD but the question was which one, specially considering that in another 6 months a new one is coming out that should "leap" above iPAD2.

I normally set aside funds every year for technology, so as a techie myself I would normally be inclined to the latest and greatest, but I decided to concentrate more on what the end use might be if the iPAD turns out not to be mature enough.

I went to SAMS Club and bought both iPAD's over the weekend... the iPAD G1 64GB Wifi ($479) and the iPAD G2 16BG ($488) ... though I bought both, I plan to return one. I wanted to compare the speed of each when trading (at least in terms of perception), there lays the reason for getting both.

The gear:

iPAD 1 (M294LL/A) 64GB Wi-fi Only
iPAD 2 (MC979LL/A) 16GB Wi-Fi Only

as a note, my expectation is that iPAD 3 will be much faster than iPAD 2.. at which point in time it might make sense to go to it... assuming the applications on the iPAD continue to improve as developers increase their support.

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Posts: 1,176 since Nov 2009

The whole reason why I say perceived has to do with patience in execution or moving between tabs or apps on an iPAD. I am accostumed to certain performance on my desktop and laptop, and I dont think is realistic to have the same expectations from a very limited device (aka toy) that could be used for very discretionary trading.

I have to admit the iPAD 2 is indeed faster than the iPAD 1; but the question is, do 1-3 second difference makes a true difference for the style of trading? I decided the answer is no, specially because my limiting factor is the latency that I will experience over 3G no matter what I do.

most people tend to focus on how fast this and that, not realizing that it will make very little difference in their trading unless they are scalping. Understanding the limitations to ones setup is critical to setting proper expectations, and my limitation in this case has to do with what communication medium I will be using.

so I am going with iPAD Gen 1... and if at the end of the exercise it turns out that I dont need it, then the kids can use it for educational purposes...

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Posts: 1,176 since Nov 2009

I spent much of the weekend playing with the devices; I loaded and tried more apps that I can count and deleted them as well. After much reviewing the apps I have come down to the following candidate stack, which still needs further narrowing down. I will review each one and provide my thoughts as to how I went about narrowing them down, exposing my requirements and how I thought they met those requirements:

News/Research

- Bloomberg (News, Research)
- Reuters MarketBoard (News, Research)
- Reuters News Pro (News)
- Financial Times (News)
- interactive business daily (news)


Brokerage:

- Fidelity (Options Only)
- IBKR TWS (Futures Only)
- TDA TOS (Futures and Options)
- TradeInterceptor (FX Only - MBT support is 2-3 months away)
- OandaFX (FX Only)
- PFG iBroker (Futures/Options/FX, they support PFG only today, with OEC planned for the future)
- eTrade (Options Only)


Remote Access
- PocketCloud
- iRdesktop


Misc
- iBooks (I have lots of PDF's that I would like to read)
- Oracle University (nice to have some of my training online)

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Posts: 1,176 since Nov 2009

The biggest issue I have is with support of iPAD for trading applications. The best two that I have came across are iBroker, TradeInterceptor and MobileTWS, but they target very different things each. I really dont like that I have to pick a broker to use based on what app is supported, and I dont want to have to monitor too many portfolios since the iPAD does not multitask very well.

I have to spend some time thinking today about what I want to focus on trading: Options, Futures, FX; and then pick one and try to address it that way. I usually dont like to limit myself to a specific instrument type. I will see what happens. So far the following brokers have applications for iPAD, without limiting the application aspect ratio:

- Fidelity
- Schwab
- TD Ameritrade (ThinkorSwim)
- Peregrine Financial (PFG)
- Oanda
- FXCM
- eTrade

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Posts: 1,176 since Nov 2009

I am on the train heading home from the city, and I can use the iPad for emails and the web; as well as getting a head start on doing the day research. I have to see if there is an excel like app with API acces to market data EOD for calculations, that would be cool to have.

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sysot1t View Post
so I am going with iPAD Gen 1... and if at the end of the exercise it turns out that I dont need it, then the kids can use it for educational purposes...

Why? To save the $9 or because you are going to load it up with music and need the 64gb?

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Why? To save the $9 or because you are going to load it up with music and need the 64gb?

Mike

Nope... Money is not a factor... But rather because I prefer to use the lowest common denominator for my testing and also because the performance improvement on the ipad2 is not all that is cracked up to be, and I rather get more space for my expense.

This exercise has very little to do with saving money. I have only spent this year about 20% or less of my technology budget this year. Also, I don't listen all that much to music or watch tv... I rather use the space for my PDFs from books that I want to read while I am on the train for those 4 hours a day, or even the recordings from work that deal with trading.

I also ordered over the weekend a new T420s for travel and trading while away along with docking station and a pair of 20.5"... So it has nothing to do neither with new technology or finding a new platform from which to trade.

Those purchases still leave me with $2k left to spend of my annual budget, and if this works, I can just ge the iPad2 wifi+3G 64gb, but as I said earlier... No sense on getting something that my 5 year old will end up having to start if this does not work out for my needs.

That is not to say the iPad is not overpriced, I can get an x220t for another $500 for what I would pay for that iPad 2 ... And I could run all that i would need without issues... But the damn thing weights a ton and I want to drop weight from my bag....

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Big Mike View Post
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Mike

As someone that owns the multi broker license, I can say that I don't care much for ninjatrader. I would sell my license if it wasn't because it is against their eula

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Posts: 1,176 since Nov 2009

Searching on the apple store I came about QST mobile; on the desktop side, It is decent ... On the iPad side, it has lots and lots to go... Just awful ... I am staying away from it... The functionality and navigation has a long way to mature.

I tried to take screen captures, but the glare on the iPad reflecting the flash or even without the flash makes pictures look really funky..

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Posts: 1,176 since Nov 2009

so I had a chance on the train to evaluate the news section while I was researching the markets... I had to put some thought about what I was after when evaluating the applications.. which brought me to the question as to: why do I read the news? what am I looking to get from the news?

questioning the reason reminded me that the whole purpose of reading the news is to help with one bias as to how the market might move, and by that I mean the day or even the week bias.. it is not for "entertainment"... I mean, what will move the market? the fact that US gov might be gridlock?, or the fact that a drug adict singer died? ...

hence the difference about news, and news articles... with that in mind I evaluated the choices I had...

- IBD has great content, but the application functions is just akward and not very user friendly... just for that single reason, I was turned off and removed it. I believe an application should be intuitive, easy to use, and functional.

- Financial Times, I love the news paper. Great content, but at the same time lots of news articles. do I really care about all of the sections? no. Their best feature is how they laid out their market data section, I mean it shows me the markets of the world against the world map background, that is just awesome as it takes thought away from me. Other than that I care about their Markets and Companies Section. The rest is a "nice" to have, but I could not care less for the Life and Arts section for example. Going back to my guiding principle for the evaluation, the ratio of news to news articles was very low... for that reason, I decided to remove it.

that leaves me with three news sources... well, two actually... Bloomberg and Reuters... each has its advantages on how they display their data and bloomberg excels at providing me with an overall view markets with charts (D/W/M/Y trends) as well as the strenght of its components... Reuters MarketBoad does as well.. just a bit different. I have to play more with the remaining apps...

News/Research

- Bloomberg (News, Research)
- Reuters MarketBoard (News, Research)
- Reuters News Pro (News)

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MB Trading has a good app for Android, I'm sure it's on iOS too. The charting is pretty good, but order execution leaves much to be desired.

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MB Trading has a good app for Android, I'm sure it's on iOS too. The charting is pretty good, but order execution leaves much to be desired.

Mike

their iPAD version is still in beta... but I think that tradeInterceptor is better for FX trading as it will support multiple brokers..

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Posts: 1,176 since Nov 2009

Given the iPAD lacks the required capabilities for running marketdelta for my charting, I figure it would be good to have a source where I can run certain applications that would otherwise run on my laptop or desktop but cant run on the iPAD; to that end I went ahead with obtaining a VPS with W2008R2 STD from godaddy.com before I left the office.

The VPS has been active and I have been installing applications on it. I have tested the RDP clients now over wifi and over 3g, and I have to say they are very close in terms of performance and ease of use. The biggest drawback to the iRdesktop client is the whole ads piece, which pocketcloud has as well, but at lest I can spend $15 and remove those ads to save bw.

so there you have it, as a result of the ads on the iRdesktop app, I am going with pocketcloudpro for $15. The cost is not outrageous, and the features I gain once I go pro match and go beyond what iRdesktop provides as a free version.

Please dont assume that iRdesktop is not a great RDP client, it is actually the best free RDP client there is for the iPAD. I just prefer my software as much as possible without bandwidth consuming ads. If they come up with a for pay version, I would gladly support them as I see value to their app.


Remote Access
- PocketCloud

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Posts: 1,176 since Nov 2009

I have decided to add etrade to the list of brokers to evaluate... downloaded and installed their app, now I have to figure out if I can do a demo or if I have to fund it.

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after some additional analysis.. for news.. two winners..

News/Research

- Bloomberg (News, Research)
- Reuters MarketBoard (News, Research)

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I have a Samsung Galaxy S that I use to keep an eye on trades away from my computer. The simplest and most reliable setup i have found is a good quality remote desktop app and twitter (for news). My data provider gives me unlimited twitter usage as part of my data plan so i just found the best twitter app and widget to suit my needs for news and I follow all the usual suspects (bloomberg, ap etc).

I use Xtralogics Android RDP app (approx $25) to remote to my desktop while on the go. I set up port forwarding in my router and the RDP app allow one button press to log into my trading rig securely from anywhere I have a phone signal. The advantage of this setup is I get the reliability and speed of my trading rig and home internet connection and Ninja Trader on the go.

I'm sure you could set this up nicely on an iPad or any android tablet. The other bonus is RDP is widely used so any pc can become your slave in case of emergency.

Keep it simple

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Treggs View Post
I have a Samsung Galaxy S that I use to keep an eye on trades away from my computer. The simplest and most reliable setup i have found is a good quality remote desktop app and twitter (for news). My data provider gives me unlimited twitter usage as part of my data plan so i just found the best twitter app and widget to suit my needs for news and I follow all the usual suspects (bloomberg, ap etc).

I use Xtralogics Android RDP app (approx $25) to remote to my desktop while on the go. I set up port forwarding in my router and the RDP app allow one button press to log into my trading rig securely from anywhere I have a phone signal. The advantage of this setup is I get the reliability and speed of my trading rig and home internet connection and Ninja Trader on the go.

I'm sure you could set this up nicely on an iPad or any android tablet. The other bonus is RDP is widely used so any pc can become your slave in case of emergency.

Keep it simple

I looked at android 3.1 on the Samsung 10.1 ... I bought it as well over the weekend over at BestBuy... I returned it the next day... 1) the OS is still not there in terms of multitasking, 2) the application support is very limited, 3) couldnt clean up the interface unless I rootkit the device ... I dont mind hacking my own device, but I dont feel like hacking anything.. to me my tools should make my life easier, not more difficult.. also, I dont use NT7, so not interested on having it on the go at all.

Also, keep in mind my intent is to trade on the device, not to keep track of trades which I can do already via my iphone or any other device... to keep track of trades, $500-$800 for a device seems rather silly.. IMO of course.

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I have been with IBKR for over 6 years now, their universal account is great, and some of their tools are decent. The MobileTWS interface is clean, and quite intuitive, but still lacking. The charting wont show intraday, and the daily will be for the prior day which is a waste. In order to see the current day one has to select portfolio after opening a position and then it will show the compressed version of today, which is still a waste as it does not allow the resolution on the chart to be changed. The charts also do not allow you to add any indicators at all, which is another problem. There is also no support for options.

so functionality wise for order entry is good, quickly switching between instruments and looking at positions and order entry for futures is good as well. charting wise, lacking big time.

The issue with the charting IMO comes from the data being charted from the start of the day. IBKR on MobileTWS is treating index futures as if they were tied to the US Markets 100% and following equities regular trading hours. The charts for FX for example, will show a 24 hour period, which is what I expected. That still does not mean you get the add any indicators to the charts.

It is a shame that I have to cut it, since it is a very clean and quick interface to use for trading overall. I like its simplicity.

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sysot1t View Post
I looked at android 3.1 on the Samsung 10.1 ... I bought it as well over the weekend over at BestBuy... I returned it the next day... 1) the OS is still not there in terms of multitasking, 2) the application support is very limited, 3) couldnt clean up the interface unless I rootkit the device ... I dont mind hacking my own device, but I dont feel like hacking anything.. to me my tools should make my life easier, not more difficult.. also, I dont use NT7, so not interested on having it on the go at all.


Wouldn't you want your desktop trading platform on the go? That's why I suggested an remote desktop app. I prefer android but I'm sure there is an excellent remote desktop app for the ipad. You don't like Honeycomb UI? Each to there own I suppose.

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Treggs View Post
Wouldn't you want your desktop trading platform on the go? That's why I suggested an remote desktop app. I prefer android but I'm sure there is an excellent remote desktop app for the ipad. You don't like Honeycomb UI? Each to there own I suppose.

if you take a look at what I posted under remote access, you will have your answer.



and HoneyComb UI is not to my liking, no... it needs some refinement still..

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I spent today testing ibroker, and it was good. The interface is very intuitive, some minor kinks but rather functional overall. Whomever writes it must trade as well. I don't like the fact that is only one broker, so I will bug the developer and see what other brokers will be supported.

An update to the post .... Broker is great to trade with, non scalping mode of course. I traded demo this morning and order entry, notification and management were good.. Only complaint is the lakck of bracket orders... Stops have to be managed manually.

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Posts: 1,176 since Nov 2009

one big issue thus far is that for what I really want this iPAD for, options trading, seems to be missing or very limitted in options... basically I am limitted to TOS, eTRade, Fidelity or Schwab... if I wanted to use TradeMonster I am not able to due to flash issues.. which makes me think more about perhaps getting the HP Slate to test as well..

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I was a bit frustrated today by TOS.. it is rather cumbersome when doing certain complex options.. there are so many things I would want to do with a slate type of device, and the iPAD doesnt seem to be the right tool for it thus far... I might need to lower my expectations and use case.. not sure yet... I spent today researching windows based tablets... I was glad to find out that a new generation of slates is coming towars the end of the year... I look forward to trying out a couple.. of special interest is the ideapad from lenovo..

Lenovo's IdeaPad Tablet P1 To Ship With Windows 7 - HotHardware

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Why use such a slim, agile, remote device for such complex stuff? When you are only away from your main computer sometimes during the day... and you always have your notebook with you... ?

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Big Mike View Post
Why use such a slim, agile, remote device for such complex stuff? When you are only away from your main computer sometimes during the day... and you always have your notebook with you... ?

Mike

the original post contains the reasons as to why... I work for a living, I dont trade... what it comes down to, I need something I can lay down flat on my desk on front of me that no-one else sees... something that will enable me to do my options and even futures trades without having to tweak anything... as I mentioned on the original post, they are discretionary trades, they can last 30mins or they can last 2mins.. comes down to conditions.

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sysot1t View Post
the original post contains the reasons as to why... I work for a living, I dont trade... what it comes down to, I need something I can lay down flat on my desk on front of me that no-one else sees... something that will enable me to do my options and even futures trades without having to tweak anything... as I mentioned on the original post, they are discretionary trades, they can last 30mins or they can last 2mins.. comes down to conditions.

Yes I read the original post before replying, and it is your thread, your journey, your trading ... but I was just saying I don't understand why when your notebook is with you at all times, you would elect to use an iPad-type device to initiate complex new trading positions. I totally understand using it to monitor or close positions, but I don't understand the desire to place what you called "certain complex options" positions using the iPad instead of just using your notebook. To me, when I think of these types of positions I require the use of a spreadsheet to know the right formula and share allotment for each hedge, I don't see an iPad as the desired way to do this.

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sysot1t View Post
the original post contains the reasons as to why... I work for a living, I dont trade... what it comes down to, I need something I can lay down flat on my desk on front of me that no-one else sees... something that will enable me to do my options and even futures trades without having to tweak anything... as I mentioned on the original post, they are discretionary trades, they can last 30mins or they can last 2mins.. comes down to conditions.

In my opinion you'd be better off ditching the iPad and going for a Windows 7 tablet such as the ASUS eee Slate EP121. It has the capabilities of a high end notebook (Intel Core i5) in the form of a tablet. The iPad is a toy designed for content consumption.

Asus Eee Slate Review - Tablet Reviews by MobileTechReview
Amazon.com: ASUS Eee Slate EP121-1A011M 12.1-Inch Tablet PC: Computer & Accessories

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Big Mike View Post
Yes I read the original post before replying, and it is your thread, your journey, your trading ... but I was just saying I don't understand why when your notebook is with you at all times, you would elect to use an iPad-type device to initiate complex new trading positions. I totally understand using it to monitor or close positions, but I don't understand the desire to place what you called "certain complex options" positions using the iPad instead of just using your notebook. To me, when I think of these types of positions I require the use of a spreadsheet to know the right formula and share allotment for each hedge, I don't see an iPad as the desired way to do this.

Mike

I further explain why I wanted it on my response post to you as well. We might have different opinions about what trading means, and also ... Anything other than buy/sell calls/puts is "complex" ... And having excel type app to me is basic functionality. the whole purpose for me was to determine if the iPad was up to the job, hence why I detailed the requirements and my process to go about it. It might help others who might consider doing the same and not wasting their time if their requirements match what I outlined; Or it might not help anyone, not doing it for others at the end of the day.

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sleepy View Post
In my opinion you'd be better off ditching the iPad and going for a Windows 7 tablet such as the ASUS eee Slate EP121. It has the capabilities of a high end notebook (Intel Core i5) in the form of a tablet. The iPad is a toy designed for content consumption.

Asus Eee Slate Review - Tablet Reviews by MobileTechReview
Amazon.com: ASUS Eee Slate EP121-1A011M 12.1-Inch Tablet PC: Computer & Accessories

sleepy

thus far I would agree given my experience, but not done yet... I want to see if I can address some of other requirements still. Also, I looked at the EP121 and was tempted to order it yesterday, but what has me conflicted with that specific device is it's price... I can get an x220t for a little more and that means when get home I could even run two monitors with a docking station, etc... So the lenovo notebook is more appealing due to cost and features when compared. Since I am in no rush, I plan to continue with the evaluation and see where it takes me.

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  #33 (permalink)
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I thought you said in an earlier post cost wasnt an issue. Besides the price difference between an iPad and the eee Slate after you add all the apps and extras an iPad requires is probably 1-3 trades (and/or slippage) at best.

You could always order it from Amazon and send it back after playing with for a couple of weeks if it doesnt fit your needs. Alternnately you could wait for the Dell Peju tablet thats due out in October.

sleepy

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  #34 (permalink)
 
 
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sleepy View Post
I thought you said in an earlier post cost wasnt an issue. Besides the price difference between an iPad and the eee Slate after you add all the apps and extras an iPad requires is probably 1-3 trades (and/or slippage) at best.

You could always order it from Amazon and send it back after playing with for a couple of weeks if it doesnt fit your needs. Alternnately you could wait for the Dell Peju tablet thats due out in October.

sleepy

First, my technology budget is set by me at the beginning of the year, I don't change it once set. Second, I don't look at those operating expenses in terms of how many trades to recover the investment, my operating costs are separate from my trading as they are paid from a different revenue stream. I am a strong believer in fiscal discipline, and i run my own life as if it was a business.

Oh, btw... So far the iPad is all free ... based on my analysis... I could dedicate $50 to apps and it will still be lower than the EP121...

Cost is not an issue, but value is.... EP121 ~1200 .... x220t ~1300 ... One provides me with greater functionality or features for my money (aka value) ... while the other lags behind. Anyhow, I have patience ... I can wait until 12/29/2011 the latest

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  #35 (permalink)
 
 
Posts: 1,176 since Nov 2009

I missed all the morning action since I was on my way to Disney with the kids... I decided last minute to take a trip since I have not been paying much attention to the kids... perfect time to use the iPAD to test more functoinality...

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  #36 (permalink)
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Hey Sysot1t,

I have been thinking similar to you and I think that a tablet would be an excellent addition to a trading arsenal for those with full time jobs. However, while I believe it is a great idea to trade on a tablet I am still hesitant in translating the entire trading experience to the mobile devices. I think a good analogy for trading on mobile apps is having the ability to take important conference call while on vacation: it is great to have access to information you would have normally missed, but the environment is not ideal if the situation is to occur repeatedly. There are so many more negative variables that present themselves such as reception issues, dropping your phone in the beach, sleeping through the conference call because you are on vacation, someone stealing your phone on the resort, etc.

As a commuter, I can definitely understand the desire to use the time more efficiently, but you also want to be trading efficiently as well. I often read trading texts on the train ride home, but I can easily recognize how my efforts and thought process never reach the optimal levels they normally do when I am at home in a quiet room. On the train, I started forcing myself to take notes, but often someone catches my eye on the train, or I end up thinking about the day that is just beginning/ending and constantly rereading the same sentence over and over. The other problem with researching/reading in such a distracting environment is that I read but the ideas don't stick. Often, ideas are in one ear and out the other and my critical thought process goes out the window.

I am unsure how you will be using your tablet in the grand scheme of things, but personally I will do as much DD and strategizing in a controlled environment that is conducive to sound thinking. When I do purchase a tablet and use a tablet trading platform, I would be using it primarily for trade execution and managing current positions. I aim to set stops around key support/resistance beforehand through the desktop software, and then pull out my tablet when I receive the alert intraday (via an email to my phone) and check the markets/indicators to ensure that everything looks in order. If things line up, I would execute my trade through the tablet, and go back to my regular 9-5.

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  #37 (permalink)
 
 
Posts: 1,176 since Nov 2009

I completely agree with your statements...

here is how I found that I can ignore people when researching on the train... I have a Bose QuietConfort headset that is noise cancelling... I dont use it on the subway.. only on the metronorth back home.. I put on music as background noise to the research I am doing, or else I listen to BLP news radio at the same time I read... I personally need background noise, or else my mind wonders.. side effect of multitasking IMO... I dont make decisions while researching though, I am just taking notes and jotting down what I need to evaluate later on...

the other day I noticed a guy on the train that basically just had industrial strenght ear plugs... pretty straight forward... and it is pretty clear that he just wants quiet time..

it might seem antisocial, but in the train around 6-7AM EST... do you really want to talk to anyone? or in the way back after a long day, do I really want to talk to anyone? usually everyone in the train just keeps to oneself unless they know each other... I personally avoid the times I know some of my friends take the train for that reason, it would steal time from reading stuff that I want to go over...


Bermudan Option View Post
Hey Sysot1t,

I have been thinking similar to you and I think that a tablet would be an excellent addition to a trading arsenal for those with full time jobs. However, while I believe it is a great idea to trade on a tablet I am still hesitant in translating the entire trading experience to the mobile devices. I think a good analogy for trading on mobile apps is having the ability to take important conference call while on vacation: it is great to have access to information you would have normally missed, but the environment is not ideal if the situation is to occur repeatedly. There are so many more negative variables that present themselves such as reception issues, dropping your phone in the beach, sleeping through the conference call because you are on vacation, someone stealing your phone on the resort, etc.

As a commuter, I can definitely understand the desire to use the time more efficiently, but you also want to be trading efficiently as well. I often read trading texts on the train ride home, but I can easily recognize how my efforts and thought process never reach the optimal levels they normally do when I am at home in a quiet room. On the train, I started forcing myself to take notes, but often someone catches my eye on the train, or I end up thinking about the day that is just beginning/ending and constantly rereading the same sentence over and over. The other problem with researching/reading in such a distracting environment is that I read but the ideas don't stick. Often, ideas are in one ear and out the other and my critical thought process goes out the window.

I am unsure how you will be using your tablet in the grand scheme of things, but personally I will do as much DD and strategizing in a controlled environment that is conducive to sound thinking. When I do purchase a tablet and use a tablet trading platform, I would be using it primarily for trade execution and managing current positions. I aim to set stops around key support/resistance beforehand through the desktop software, and then pull out my tablet when I receive the alert intraday (via an email to my phone) and check the markets/indicators to ensure that everything looks in order. If things line up, I would execute my trade through the tablet, and go back to my regular 9-5.


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  #38 (permalink)
 
 
Posts: 1,176 since Nov 2009

I have to admit the iPAD is a simple tool to use... for kicks while I was at DIS I downloaded some apps for the kids in the hotel and I let them play with it for a while... the 2 yo picked up the use of it in no time, took him a few hours to get used to it... and the 5 yo basically had it down in about 30 minutes..

so if you have kids.. the iPAD is a perfect educational tool IMO.. much better than giving them netbooks with keyboards (specially if you have kids less than 5 yo)..

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  #39 (permalink)
 
 
Posts: 1,176 since Nov 2009

I am pretty much done with evaluating the iPAD for active trading.. and my researched yielded the iPAD is not quite ready from an application support perspective for trading actively.

What is the iPAD ready for? simple.. Swing trading.. no matter what instrument.. equities, forex, commodities, derivatives, etc...

As long as one is keeping track of positions and not scalping intraday, but rather swing trading over multiple days or something similar, one can trade with the iPAD without issues.

The applications available for swing and forex trader are quite capable.. applications such as:

- Fidelity
- Schwab
- eTrade
- TD Ameritrade Mobile
- iStock Manager
- ThinkorSwim Mobile
- MerrillEdge
- MobileTWS
- OandaFX
- TradeInterceptor (FX)
- Swiss Forex Trader (DukasCopy)
- PFG iBroker
- Alpari iTrader

They all provide with some basic and some advanced functionality, though all are lacking at times.. but it comes down to what you are looking for and what you are trading. Trading on the move will prove difficult, WAN access is not always reliable, and as such a hyper trader or even an intraday trader should be careful when trading. The device is best suited to those trading with a bigger timeframe in mind.. 30 mins bar, hour bars, etc... it really lends itself to trading FX quite well.

The iPAD is a great research tool, as long as you are willing to invest on a few applications, that is definitely a plus. The portability and battery life, at least on the iPAD Gen 1, are pretty good.

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  #40 (permalink)
 
 
Posts: 1,176 since Nov 2009

I did liked the idea of trading on such a light device... I will certainly look at the new Lenovo ePAD when it comes out with Windows.. I would be curious to see what impact having the right applications for trading on a tablet will do.. in the mean time, I am just getting another iPAD Gen 1.. and giving it to the kids.. the devices are great educational tools for toddlers.. my 2 year old picked up its use in no time and was able to put puzzles together with it.. much better than banging away at a keyboard and removing keys because he scratches the keyboard... for the 5 year old it was just like using her ipod touch, so it was no surprise that she had the device use down within a few minutes.

anyhow, I hope you found the journal of value and feel free to ask questions if there is anything you want to know about the apps that I tried out.

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  #41 (permalink)
 
 
Posts: 1,176 since Nov 2009

I ended up getting the kids iPAD's... they love it and they have gotten quite adept at using it in less than a week.. so that is a good thing... the iPAD is truly great for kids, so if you have one, I would certainly recommend it your kids.... expensive i know.. specially when you add the otterbox and the pen so they can write on it.. but worth every penny.

this was the best testing I ever did of a device, and the best take away of the whole research I had to do... I still kept my iPAD 1 rather than upgrading to a 2.. no sense on spending $200 just to get more space on a 2...

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  #42 (permalink)
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Late to the party in this thread but I just ordered an iPad -- GarageBand clinched it for me -- and will be testing the broker Apps - TDAmer/TOS (which truly sucks on my MOT Android X phone) and IB's mobile App, which, while it lacks good charting functionality, seems solid for connectivity and trades on my Droid X. Too bad IB has that irritating security device for logins.

Luckily for me, I've moved to 'bigger picture' trading and can get by -- I think -- with less than great charting with IB's iPad app if the buttons and trade executions are solid (and I know where the support zones are), and as long as I can quickly refer to briefing.com's mobile app -- excellent BTW -- to verify that the latest quick sell-off isn't the result of bombing Iran or something really bad, beyond the EURO crap.

Will report back ....
ps - then again, I could just continue to use my Droid X ....

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  #43 (permalink)
 
 
Posts: 1,176 since Nov 2009


heywally View Post
Late to the party in this thread but I just ordered an iPad -- GarageBand clinched it for me -- and will be testing the broker Apps - TDAmer/TOS (which truly sucks on my MOT Android X phone) and IB's mobile App, which, while it lacks good charting functionality, seems solid for connectivity and trades on my Droid X. Too bad IB has that irritating security device for logins.

Luckily for me, I've moved to 'bigger picture' trading and can get by -- I think -- with less than great charting with IB's iPad app if the buttons and trade executions are solid (and I know where the support zones are), and as long as I can quickly refer to briefing.com's mobile app -- excellent BTW -- to verify that the latest quick sell-off isn't the result of bombing Iran or something really bad, beyond the EURO crap.

Will report back ....
ps - then again, I could just continue to use my Droid X ....

glad to hear... to me the ipad still lacks... I have been monitoring lately the Samsung Series 7 Slate...

Tablet PCs | Samsung

It seems promising so far... I have resisted the temptation to get it thus far... i want to see if it shows up @ some retails places to try it out first..

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  #44 (permalink)
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Asus is supposed to release the Transformer PRIME on Nov 9.
I have an Asus Transformer (with a keyboard) and it is great.
The Prime will be the fastest Android tablet on the planet.

FWIW


sysot1t View Post
glad to hear... to me the ipad still lacks... I have been monitoring lately the Samsung Series 7 Slate...
Tablet PCs | Samsung

It seems promising so far... I have resisted the temptation to get it thus far... i want to see if it shows up @ some retails places to try it out first..


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DavidHP View Post
Asus is supposed to release the Transformer PRIME on Nov 9.
I have an Asus Transformer (with a keyboard) and it is great.
The Prime will be the fastest Android tablet on the planet.

FWIW

if I wanted to focus on something with a keyboard, I rather stick to my T420s or buy an airbook... in any event, the Asus Prime is going to be interesting, but the main factor for me in a tablet is windows, not android... all my apps are windows.. and for some reason trademonter wont work right on androd browser...but even if it did, i would be limited to only the order entry interface for my options, when I need the whole thing... excel w/hoadley tools, OptionNetExplorer and my OE screen...

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  #46 (permalink)
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DavidHP View Post
Asus is supposed to release the Transformer PRIME on Nov 9.
I have an Asus Transformer (with a keyboard) and it is great.
The Prime will be the fastest Android tablet on the planet.

FWIW

I was looking at the Transformer PRIME as a Black Friday purchase but reading the reviews about the TOS Android App, I think it would be safer to just get a new netbook for 1/2 the price. Sucks coz I really didn't want to buy another netbook...

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Bermudan Option View Post
I was looking at the Transformer PRIME as a Black Friday purchase but reading the reviews about the TOS Android App, I think it would be safer to just get a new netbook for 1/2 the price. Sucks coz I really didn't want to buy another netbook...

just hold off until the Samsung is out in force... or spend the $$$ on an X220t, T420s, Macbook Air... all 4 options are around $1K-$1.3K depending on options... the other one I thought about was the MSI WinPad 110W... but by the time I add the bigger SSD, I am talking around $800 anyhow.. so for another $500 one can have the samsung with has better specs and provides a digitizer pen, or a X220t from Lenovo, but that one is kind of thick...


if you are looking to do options on it as I am, samsung better choice.. IMO of course.. as a tech guy that is.. I love my T420s... but I really want to be able to place the laptop flat in front of me when I am in the office... people are nosy and I dont feel like anyone watching my screen.. and I just need to monitor/enter/exit my options trades which are mostly intraday or weekly... to me windows, ram, cpu, screen size and a digitizer pen are kind of relevant...

I think I would still carry my iPAD though... you cant beat the battery life on the ipad for watching movies while on the train or plane..

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@sysot1t

You mentioned that you lack options on the iPad for accessing the software you want. Have you tried doing remote applications to your desktop? This has worked well for me. There are several apps out there like Jump and Splashtop that work very well. With Jump I can actually view of my monitors at home and I've found few limitations (even over 3G) except for the inherent latency issues you mentioned earlier in the thread.

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  #49 (permalink)
 
 
Posts: 1,176 since Nov 2009


eudamonia View Post
@sysot1t

You mentioned that you lack options on the iPad for accessing the software you want. Have you tried doing remote applications to your desktop? This has worked well for me. There are several apps out there like Jump and Splashtop that work very well. With Jump I can actually view of my monitors at home and I've found few limitations (even over 3G) except for the inherent latency issues you mentioned earlier in the thread.

I did looked at those options as well... I use wyse pocketcloud pro on my ipad today and I have a VM with 1&1 ... the only issue I have ran into is that I cant run all my software (due to license issues) on the VM.. that combined with if you are in a plane, you really cant do much with the ipad but watch some silly movie... which is why I prefer a tablet pc.. i can always use the cache market data and just work in excel or MarketDelta..

I used to carry too much crap with me... two laptops (a W500 and a X301) ... i dropped that combo for T420s + iPAD(Gen 1)... I would love to eventually just make it a single device ( a tablet pc 14" 1600x900 8GB+ RAM 256GB SSD <0.5" thick with pen, 2+ micro usb, XD slot, and a few other goodies) that I can carry that can replace it all...

I know lenovo will eventually come around with the right device.. either them or samsung... I like the samsung thus far, and the other one that I like (but it is android based) is the lenovo thinkpad tablet...

I am bias towards lenovo of course... I have been using thinkpads for the past 10+ years... they are solid machines.. I dont mind paying the additional premium for the good quality..

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