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BM> This is a "heads up" for traders using TS 7 and looking to TS for
BM> answers.
BM> I've was given 100% incorrect information on auto-execution from
BM> the fellow who's the TS "automation specialist".
Mark Brown wrote:
>>> i think you have just informed us all that you are obviously a ts
rookie. that's ok we will listen to you bitch and reminisce of days gone by
when we were all just a stupid rookie too.
Received off the list:
Bill
>>> I saw the response to you from Mark Brown. I'm a rookie , as Mark puts
it., and was wondering why he was so nasty to you regarding your problem,.
and wanting money be deposited. Is this common? Why does he take offense to
your comments?
* * * *
Tom,
Mark Brown doesn't really exist. He's an auto-responder created by the
group to remind us that trading isn't serious... ( and to warn us where we
might end up if we don't get a life ! )
The bot's especially useful to old timers with a long history of abuse by
Omega/TS who find themselves spinning out of control.
* * * *
My original post could have done without the rant about TS support and if
the support type who was doing his best to help me got to see it, I
apologize.
The warning for anyone wanting to automate was real... it's a bit of a
minefield with TS.
If you're even *thinking* about it, you should subscribe to the TS7
automation forum after reading every word already posted there... it's full
of tricks and traps being uncovered. ("You mean the protective stop is held
on my computer until my system sees the stop price actually it hit, but the
profit target limit order goes into the market as soon as the system
enters?" -- the kind think you want to know before putting money up.)
* * * *
As to "Why automate?"
I've been trading the SP's on and off for ten years. Making some money but
being ground up in the process. I read everything, including all the books
abou the Zen of trading, but none of them told how to keep the adrenaline
from dumping into my system when a trade came up.
John's clearly got more experience with automation. He said:
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.
I've seen that #1 and #2 are true and *dramatically* reduce stress. If half
if stress is due to entry and the other half to exit, and if the system is
entering and exiting without you having to make a decision time after time,
then this speaks for itself.
I'm not anywhere near a place, nor is TS, where I'd leave automation running
while I'm out to lunch.
I spent yesterday afternoon watching a DVD with my sweetheart. My laptop
was running and trading (and visible)across the room. I was in the market
without feeling like my soul was in it too.
I never had to worry about what the market was doing or if I was going to
miss a trade. I'd made every decision about entry and exit on nine systems
long before, in peace and quiet, with all the time in the world to judge if
they were entries and exits that made sense, that had enough of an edge...
Today, Friday, is the end of the first week of automation. It looks
promising enough to put more effort into it. I'm going to go look at John's
TradeBolt...
* * * *
Here's one of the systems I have running.
It trades ONLY on the ES 15-minute day session. ( It was designed just for
that symbol and time frame. I wouldn't go trying to optimize it elsewere.
Note that out-of-sample-data is anything before Nov. 1 of 2002 for your
testing purposes.)
Short only, 3% stop and profit.
input: ptarget(3), stopl(3);
variables: profitprice(0), stopprice(0);
If h[2] > h[1] and h[1] > c[2] and c[2] > l[2] and l[2] > h[0] and
h[0] > c[0] and c[0] > c[1] and c[1] > l[0] and l[0] > l[1] then begin
Sell Short("es15 3% 2") Next Bar at open;
If Marketposition = 0 then begin
profitprice = O of tomorrow * (1-ptarget/100);
stopprice = O of tomorrow * (1+stopl/100);
buy to cover next bar at profitprice limit;
buy to cover next bar at stopprice stop;
end;
end;
if marketposition= -1 then begin
profitprice= entryprice * (1 - ptarget/100);
stopprice= entryprice * (1 + stopl/100);
buy to cover next bar at profitprice limit;
buy to cover next bar at stopprice stop;
end;
* * * *
Happy daze,
Bill Masciarelli
Vero Beach FL
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