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>From the public and private responses, it looks to be a positive
concept.
Aside from it being convenient, how about slippage in the long term?
I can see it working with the eminis, but in stocks, where you have to
play some order/cancel games with Level II before you get favorable
fills, is TS7 automation good enough to work such an order?
Thursday, April 10, 2003, 8:11:08 PM, you wrote:
JG> It doesn't help unless you already have a system you want to trade. If you
JG> have a tradable system, then auto trading is great because:
JG> 1. It reduces my psychological stress. I never have to worry about "pulling
JG> the trigger"
JG> 2. I don't worry if I placed the order correctly
JG> 3. I don't worry if I'll miss a trade while I'm out to lunch
JG> 4. No worries when orders start flying in all at once from multiple systems.
JG> 5. I don't worry about second guessing a signal.
JG> 6. All my positions are automatically closed at the end of the day.
JG> For me, auto trading has been great. Pretty much hands free trading.
JG> ----- Original Message -----
JG> From: "Frank Fleisher" <r6_5fpen8@xxxxxxxxxxxxx>
JG> To: "John Groans" <IBMBlueChip@xxxxxxxxxxx>
JG> Cc: "Bill M" <verobill@xxxxxxxxxxxxx>; "Omega List" <omega-list@xxxxxxxxxx>
JG> Sent: Thursday, April 10, 2003 9:56 PM
JG> 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
JG> symbol
>> JG> and handles all symbols including continuous contracts like @SP. But
JG> you
>> JG> won't be able to trade thru the TS brokerage, it only works with
JG> 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
JG> 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
JG> 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
JG> 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
JG> data
>> >> are working just fine !
>> >>
>> >> They're showing orders in the TradeManager as placed on the plain
JG> vanilla
>> >> esm03 contract. Somewhere between signal generation and order
JG> 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
JG> by
>> >> traders trying to work around putting "ALL systems for one symbol on
JG> 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
JG> 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.
JG> 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
JG> 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
JG> 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
JG> or
>> >> DOW...
>> >>
>> >> Best,
>> >>
>> >> Bill M
>> >> Vero Beach FL
>> >>
>> >>
>>
>>
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