Best day $

Posted on April 16, 2008
Tags: Day Trading |

Had a pretty good day, in fact best day $ wise. Not a big surprise though considering the volatility recently and that my R size is close to its highest. I had to scale it back a bit recently as I was starting to get nasty slippages more often than before. That’s one of the limitations of some strategies, particularly in stocks and on intraday timeframes.

That’s one of the reasons I’m looking to add more strategies to my toolbox. At the moment I’ve got two avenues I’m looking at, the first is using the Trade-Ideas scanner in conjunction with the OddsMaker to create an ATS. I’ve been using the TI scanner heavily since the start of the year, it’s been a great help in the transition into an improved edge which got me back into profitable territory in Feb. The OddsMaker is a real killer app though, I’ve got one ATS developed using it which is live and doing reasonably well. The other avenue is the ever-elusive futures, particularly mini’s. I’m still working on that on and off with the challenge being creating something of my own as opposed to buying something. Why not buy? Well most of the stuff out there for purchase / subscription is too expensive, yeah yeah you can trade your way to a million dollars using that super-duper trading strategy, right.. and secondly I don’t find appealing strategies that are based on 10 indicators painting my charts in 20 different colours. I know some people are making money using that, like Richard, and that’s great for them but it’s just not my style. At least for now. So the search is on for some price-action, trend-following, intraday strategy with a decent reward:risk profile.

Comments

5 Responses to “Best day $”

Trader A on April 16th, 2008 4:30 am

i love TI it’s the only payed service i use and it worths every cent, it also very comfortable because it integrates great with QT.

I tried the oddsMaker free trial a few times and the guys at TI were kind enough to give me some more trial credit, but i didn’t find it useful- i wasn’t impressed of it as a trading tool, the back-testing period is very short, and it’s a bit expensive.

congratulations on the $$, The market gods have been kind with me lately too. This actually makes me more worried than happy.
John on April 16th, 2008 7:38 am

u r kicking ass lately! i’m glad to see the quick turnaround…it seems like it was just a minor bump in the road

keep it up
Tyro on April 16th, 2008 8:23 am

I’d love to hear more about your experiences with OddsMaker. I’m going live with an ATS this week (if things stay on schedule) but the trading frequency is still not everything I could hope for. The OddsMaker sounds like a great idea but I’m not confident enough to put down the money and buy it.

Good luck, and thanks for letting us know about these neat tools.
Andrew on April 16th, 2008 11:11 am

Well done Eyal, in fact I might even have a glass of red wine in your honour, keep up the great trading :)
eyal on April 16th, 2008 1:57 pm

A - You pointed out 2 good points, on the data and it’s certainly not cheap. It makes up for some of this with the ease and speed of testing all kinds of ideas. Have you seen one of the TI guys use it? Get in touch with them and ask for a demo, they’re quite good with it. Congrats on the the good times :-)

John - yeah it seems like a little blimp on the radar, in retrospect..

Tyro - Yep the OddsMaker isn’t cheap, at least it’s just a one-time fee. Amortize it over a year ;-) less than $100 a month. I’ll update more as I go along if anything really interesting happens.

Andrew - thanks and cheers!