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I minimize slippage by putting my system on a continuous contract chart such
as @SP and then tell TradeBolt to substitute and trade the ES. Because the
@SP and ES are slightly different prices and movements, the slippage is
randomized on the ES.
----- Original Message -----
From: "Frank Fleisher" <r6_5fpen8@xxxxxxxxxxxxx>
To: "John Groans" <IBMBlueChip@xxxxxxxxxxx>
Cc: "Omega List" <omega-list@xxxxxxxxxx>
Sent: Friday, April 11, 2003 1:38 PM
Subject: Re[4]: TS7 automated futues entry
> 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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