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What do you think about which trading platform? I like NT8 because I am very familiar with it, but there's many disadvantages too.
With AMP + CQG for ES and HSI trading, how is Sierra Charts? I've read that main difference between Sierra package 3 (free) and Sierra package 5 (monthly fee) is that package 5 includes order flow market profile, or what ninjatrader calls volumetric data. However if I'm really only interested in POC and value areas, I think that is free with package 3 under volume value area lines study.
Is it just me, or is AMP + CQG + Sierra package 3 the ultimate broker + data + trading platform?
Switching from NT8 + iqfeed should save me hundreds on monthly data fees and wires fees.
No trading yesterday as 2 Dr Appts for the family and a Dentist appt....shit happens. Kids gotta stop eating so much sugar - or better yet brush more than twice per day currently.
Today was a good day for trading....a few distractions with the kids coming back from the skate park in the heat of the battle but all good. I was a bit timid to take the earlier trades but once the equity market opened and full speed ahead no problem.
Good discipline today..as with the higher volatility some of the signal bars are well over 20tics in size....so I passed on them.
Tried my alternative target strategy with 2lots at 10 tics and 1lot at 20tics but the chop ripped that idea to shreds (2/3 trades did not work)....I think Marty Schwartz is right - just go for the initial 10tic target and move onto the next trade....
Nice range formed from the open making the entry points easier to spot (with good signal bar requirement) - though the bounce from the double test of the opening price was so obvious it was going higher BUT no signal bar to get in 11:24 am..
One's trading platform is a personal choice and I'd suggest that you give them both an honest try. Some people love NT; I can't stand it (and I bought a lifetime license many years ago). But how others feel shouldn't matter to you; it's about finding the best combination for you, that way you own the decision and are confident in your tools. If you try SC, give it an honest month's try. You won't learn it or feel comfortable with it in the first week, but if you stick with it, you may really like it.
FWIW, I really admire your resolve to your strategy. I'll catch 150-200 tick trades in this environment, but there's always the possibility of losing 50-100 ticks; the volatility is a double edged sword!
I read somewhere PB's risk/reward was something like 0.6-7 hence no trailing stops or multiple targets - pure scalping for short-term profits only (so basically what I'm doing) - he went for 1 point targets as well if I remember in the S&P before it all moved over to the ES in the late 90's..latest I heard he trades CL in huge size.....in a market like the HSI which is schizo as best...I just hate seeing my profits evaporate hence I like that ker-ching quick target.
Maybe Mack's methods are just a good personality fit for my trading...smaller targets also help keep the %win higher than a larger target method.
Do you mind telling me what was the opening price you have for today?
I'm using Jigsaw for execution it shows 26139, and my chart on metatrader shows 26110, both running on the same CQG feed, so just want to compare with someone else.
Josh - forgot to mention - well done pulling out those big target 150-200 tick trades - power to YOU!!! Honestly, I can't do that.
The beauty of trading and it's been mentioned in the Market Wizard series - there are so many ways to make money - but the trick is to find something that works for "YOU"!!! In hindsight I wish I could have discovered Macks methods years earlier....oh well. better late than never.
I wish that was true, but it appears that all users that signed up for NT after their grandfather cutoff date in 2015 are not allowed to trade Asian futures on NT... Doesn't appear there is any way around it. All I want to do is use my lifetime license to continue using the NT charting platform, and connect it with AMP + CQG, but NT has went out of their way to explicitly remove this functionality. My guess is because they were losing too many customers to AMP.
I just really don't want to spend months on familiarizing with a new platform, only to learn that it is missing a piece of critical functionality that i didn't realize I was going to need beforehand.
After extensive googling, I think Sierra Charts package 3 is the best choice to start with here.
@Godzilla sorry derailing your journal! Your success with Mack's PAT on HSI has peaked my interest! But I can't find any free historical tick data on HSI. AMP + CQG is marketed as only requiring a minimum $100 account deposit for receiving historical and live tick data, and HSI live data is only $15 per month. This may be the cheapest route for users who want to look at HSI for the first time.
11:24 am..
