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Brian Meads wrote:
>
> I have been trading using the Ken Robert's method for about a year now
and
> lost a significant amount of money. Determined to improve my trading
> methods, I have read a number of books and articles on the subject and I
am
> now of the opinion that I should buy Tradestation, conjure up a few
> systems, test them on historical data and then take the plunge again with
a
> system that looks promising.
Considering that you've been losing money, you should trade "small" and not
"plunge" into anything until you start making some money and get a feel for
whatever method will work for you. That's my opinion, but you may have
deeper pockets than me.
>
> I live in New Zealand and because of time zone differences I cannot
really
> trade intraday yet (I have full time job unrelated to trading). Instead I
> am hoping to download daily trading information from the web at the end
of
> each day (ie, daily hi,lo, open, close), run it through my system and
email
> any trading signals to a broker to enter the next day.
You may want to look into some recent posts on this list concerning
electronic trading over the web. More efficient than e-mail.
Since you won't be trading intraday, you do not need expensive satellite
feeds. Dial/Data, CSI, Dow Jones and other end-of-day data providers
available to you over the internet cost from $20 to $80 a month for good
EOD quotes.
> I need some advice on the following and would appreciate any assistance
any
> contibutors to this group could provide:
>
> 1. Can I just enter daily hi, lo, open & close info into TS 4.0 and get
it
> to give me trading signals, or do I need a satellite feed and data in a
> special format?
Entering data by hand is likely a waste of your time. TS can read different
formats.
>
> 2. Will TS 4.0 do what I am hoping to do?
Yes, but gather all the facts from the individual vendor(s) before buying
anything.
>
> 3. Will TS 4.0 allow me to print daily, weekly and monthly tick charts
of
> contracts I am interested in?
Yes, but are you intending on day trading or making decisions at end of
day?
>
> 4. Is there an alternative method of getting satellite-type feeds using
> the internet? I don't believe it is possible to get a BMI satellite feed
in
> New Zealand.
You may want to check out the Signal/BMI web page at www.dbc.com for some
data answers.
>
> 5. Any suggestions on good brokers that would meet my requirements (ie.
> offshore client, email interaction, reputable etc.). I currently pay
around
> $75 a round trip for a full service broker and so I am looking for a
lower
> cost alternative.
Most good discount brokers charge less than $40.00 commission.
There are many (Jack Carl, Lind-Waldock, LFG, etc., etc.) but you should do
more research like subscribe to Futures and also Stocks and Commodities
magazines in order to get more or less current on brokers, software,
trading ideas, etc.
>
>
Hope that was of help.
Carlos Lourenco
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