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It doesn't help unless you already have a system you want to trade. If you
have a tradable system, then auto trading is great because:
1. It reduces my psychological stress. I never have to worry about "pulling
the trigger"
2. I don't worry if I placed the order correctly
3. I don't worry if I'll miss a trade while I'm out to lunch
4. No worries when orders start flying in all at once from multiple systems.
5. I don't worry about second guessing a signal.
6. All my positions are automatically closed at the end of the day.
For me, auto trading has been great. Pretty much hands free trading.
----- Original Message -----
From: "Frank Fleisher" <r6_5fpen8@xxxxxxxxxxxxx>
To: "John Groans" <IBMBlueChip@xxxxxxxxxxx>
Cc: "Bill M" <verobill@xxxxxxxxxxxxx>; "Omega List" <omega-list@xxxxxxxxxx>
Sent: Thursday, April 10, 2003 9:56 PM
Subject: Re[2]: TS7 automated futues entry
> Why do you think auto-execution is going to help you?
>
>
>
> Thursday, April 10, 2003, 5:19:06 PM, you wrote:
>
> JG> Check out a program called TradeBolt for an alternative for TS
> JG> auto-execution. I use it and it works with multi systems on the same
symbol
> JG> and handles all symbols including continuous contracts like @SP. But
you
> JG> won't be able to trade thru the TS brokerage, it only works with
Interactive
> JG> Brokers for $2.40 per side (ES, NQ). So you save a $1 RT from TS.
>
> JG> ----- Original Message -----
> JG> From: "Bill M" <verobill@xxxxxxxxxxxxx>
> JG> To: "Omega List" <omega-list@xxxxxxxxxx>
> JG> Sent: Thursday, April 10, 2003 11:42 AM
> JG> Subject: TS7 automated futues entry
>
>
> >> This is a "heads up" for traders using TS 7 and looking to TS for
answers.
> >>
> >> I've was given 100% incorrect information on auto-execution from the
> JG> fellow
> >> who's the TS "automation specialist".
> >>
> >> Example. If you backtest on @es.d and create a system, you can't have
an
> >> @es.d chart up to trade the system since that's a symthetic contract.
> >>
> >> But you will need to have the auto-trade system running on some kind of
> JG> pit
> >> session, since that's what you tested on.
> >>
> >> However, if you "lookup" in the order module, all you see is esm03.E...
> JG> the
> >> 24-hour. You think, let's try esm03.d. But the MANUAL order module
won't
> >> recognize .D as a valid symbol.
> >>
> >> I ask the trade desk and they say, symbol must be esm03, "There is no
> JG> other
> >> symbol in reality."
> >>
> >> I ask the auto-trade guru and he says, "Charts must be built on esm03
> JG> only."
> >>
> >> But then my systems won't run as designed...
> >>
> >> Then I notice that the my systems, now running on charts with esm03.D
data
> >> are working just fine !
> >>
> >> They're showing orders in the TradeManager as placed on the plain
vanilla
> >> esm03 contract. Somewhere between signal generation and order
placement,
> JG> TS
> >> is changing the chart symbol to the valid contract...
> >>
> >> but the TS guru didn't know it.
> >>
> >> (If you look on the TS7 automated forum you see many hours being wasted
by
> >> traders trying to work around putting "ALL systems for one symbol on
one
> >> chart." Hours of very creative programming. Done because the TS guru
> JG> said
> >> it had to be done that way... not so.)
> >>
> >> If you're thinking about automating, there is something to note. You
can
> >> not have open on your system, for any one symbol, automated trades that
> JG> are
> >> short at the same time that you have systems automated that are long.
Has
> >> nothing to do with being in the market long or short. The program will
> JG> not
> >> allow you to open an automated strategy that's short if you already
have
> JG> one
> >> open and running that's long.
> >>
> >> "Open a second futures trading account if you want to trade in both
> >> directions," is what TS says.
> >>
> >> If you've got swing trades and scalp trades automated, you might want
to
> JG> be
> >> able to run both long and short at the same time, so the answer *is* a
> >> second account - or being only long in the ES and only short in the NQ
or
> >> DOW...
> >>
> >> Best,
> >>
> >> Bill M
> >> Vero Beach FL
> >>
> >>
>
>
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