Stock Market

[Ryanmcd2]

Love the username lol

can't see Semis taking too much more of a hit....

after all, tons of brokerages, Merrill most recently coming out and downgrading INTC if not the whole sector....


Since when do they ever downgrade and sell...??

Besides, this week is op ex week and I usually like to play the Maxpain theory.....

but then again, LT trend changes never happed during op ex weeks...


Put a 10ma on the p/c ratio and it's extremely bullish. I have no clue as to what is exactly going on, but almost every day for the past 2 months, p/c ratio has been over 1.0.


Check the ES/NQ bids all day long, "flipper" as he is commonly refered to just moving the market on no volume.... hard to play.

I still manage to average 100 NQpts and 500 YM pts per month...

www.elitetrader.com

 

[Ryanmcd2]

Just talked to a good friend of mine in the market, he just finished testing his new system with 100k for 8 months and it made about 26%, now he is running 100 million through it for 18 months and going to see how that does, him and 5 others are working on it and this is real money. Pretty smart guy and he is who helped me get started. He said if that works he is going to do 1 billion with several big brokers fronting the money to do the 1 billion deal. One of the persons in on it works for CNBC and is on TV everyday, very cool stuff.

 

[NemesisX]

Ok....talk about a beating in todays markets....selling all the way...no respite, no pause, just falling and falling....I myself was shocked to see the huge selloff -42 points in the Nasdaq!! The Dow being up as much as 80 then -102!!! I think I have some homework to do!

Steveny and others, how have you been??

 

[lemansnsx]

Help with Tradestation strategies

A good friend, who makes his living as a statistician, and I have been playing with Tradestation and their Easylanguage program to try to come up with something better than having a monkey throwing darts at the newspaper.
We tried many variations of strategies based on RSI and Bollinger Bands, but the fundamental idea was as follows:
When a stock closed below the lower limit of the Bollinger Bands and, at the
same time, the RSI was below 30, we placed a buy order. Simultaneously, we placed bracketed sell orders for both
stop loss and to target a specific gain.
If, before either of the sell orders executed, the stock went above the upper limit of the Bollinger Bands, then we placed a sell order. The opposite strategy was followed for placing short orders.

Variations on this included:
1. varying the targets for gains and stop loss orders.
2. varying the standard deviation of the Bollinger Bands.
3. varying the RSI limits.

In addition, we tried to optimize the various strategies over a 12 or 6 month
period for a particular stock in the hope that that optimized strategy could be used 3 to 6 months more with predictable results.
The results, however, proved to be random.
I feel like we're missing something - maybe something quite simple - but does anyone feel like sharing some thoughts on the strategies that we tried and any specific advice for Tradestation? TIA.

 

[Ryanmcd2]

Re: Help with Tradestation strategies

The code used to make this work is 2,000 lines. I really can't say much about it but the people doing it all have been in the market for 20+ years and they are people all over the world not just the us because they work the cash markets and they never close. Goto tradestation's website and check it out, good stuff there and a lot to learn.

A good friend, who makes his living as a statistician, and I have been playing with Tradestation and their Easylanguage program to try to come up with something better than having a monkey throwing darts at the newspaper.
We tried many variations of strategies based on RSI and Bollinger Bands, but the fundamental idea was as follows:
When a stock closed below the lower limit of the Bollinger Bands and, at the
same time, the RSI was below 30, we placed a buy order. Simultaneously, we placed bracketed sell orders for both
stop loss and to target a specific gain.
If, before either of the sell orders executed, the stock went above the upper limit of the Bollinger Bands, then we placed a sell order. The opposite strategy was followed for placing short orders.

Variations on this included:
1. varying the targets for gains and stop loss orders.
2. varying the standard deviation of the Bollinger Bands.
3. varying the RSI limits.

In addition, we tried to optimize the various strategies over a 12 or 6 month
period for a particular stock in the hope that that optimized strategy could be used 3 to 6 months more with predictable results.
The results, however, proved to be random.
I feel like we're missing something - maybe something quite simple - but does anyone feel like sharing some thoughts on the strategies that we tried and any specific advice for Tradestation? TIA.

 

[Ryanmcd2]

I got long 2 times and made my 3-5 a day Today is a day where experience comes into play, and my old 18 hour work days pay off lol trend players did well today on the short side but get kicked in the balls the other 70% when it's easy money for me.

Ok....talk about a beating in todays markets....selling all the way...no respite, no pause, just falling and falling....I myself was shocked to see the huge selloff -42 points in the Nasdaq!! The Dow being up as much as 80 then -102!!! I think I have some homework to do!

Steveny and others, how have you been??

 

[NemesisX]

Re: Help with Tradestation strategies

A good friend, who makes his living as a statistician, and I have been playing with Tradestation and their Easylanguage program to try to come up with something better than having a monkey throwing darts at the newspaper.
We tried many variations of strategies based on RSI and Bollinger Bands, but the fundamental idea was as follows:
When a stock closed below the lower limit of the Bollinger Bands and, at the
same time, the RSI was below 30, we placed a buy order. Simultaneously, we placed bracketed sell orders for both
stop loss and to target a specific gain.
If, before either of the sell orders executed, the stock went above the upper limit of the Bollinger Bands, then we placed a sell order. The opposite strategy was followed for placing short orders.

Variations on this included:
1. varying the targets for gains and stop loss orders.
2. varying the standard deviation of the Bollinger Bands.
3. varying the RSI limits.

In addition, we tried to optimize the various strategies over a 12 or 6 month
period for a particular stock in the hope that that optimized strategy could be used 3 to 6 months more with predictable results.
The results, however, proved to be random.
I feel like we're missing something - maybe something quite simple - but does anyone feel like sharing some thoughts on the strategies that we tried and any specific advice for Tradestation? TIA.

My 0.02 on this Lemansnsx is that the 2 indicators that you use are oscillators (although Bollinger bands oscillate between the price + or - a standard deviation from that price). With oscillators, the shortcomings are that they do pretty well when in choppy markets but you can get killed in trending markets with many false signals.
You also might want to look at how your system does over several years instead of just one because the year you optimized might not have had a good bull, bear or choppy market for you to test.

Hope that helps.

 

[Ryanmcd2]

Re: Re: Help with Tradestation strategies

Great post but if you are good on all down and up days you just are in and out because you are against trend. Also the market is chop & slop over 70% of the time.

My 0.02 on this Lemansnsx is that the 2 indicators that you use are oscillators (although Bollinger bands oscillate between the price + or - a standard deviation from that price). With oscillators, the shortcomings are that they do pretty well when in choppy markets but you can get killed in trending markets with many false signals.
You also might want to look at how your system does over several years instead of just one because the year you optimized might not have had a good bull, bear or choppy market for you to test.

Hope that helps.

 

[dgp]

I recently got an offer from a prop trading firm in San Francisco. I was wondering if anybody who posts here is a prop trader and if yes I have some questions about the firm I will be interviewing with. Thanks!

 

[Ryanmcd2]

I guess everyone got beat by the market , I know today was some good stuff. Yesterday was better though

 

[NemesisX]

Yesterday was great!!! Been taking alot of the summer off...thin trading some days, cant wait for it to pick up after Labor Day........

 

[Ryanmcd2]

Today was a quick day, made 4 points in 30 min.

 

[NemesisX]

Ive been watching the US$, Euro$, Gold markets this summer when times have been slow... Gold is getting hit pretty good today

 

[Ryanmcd2]

I LOVE a slow market, I trade the slop, on trending days is when I don't do so well

 

[steveny]

Hit a pretty good one today with ORCL. I have been sitting on 5k shares from 9.83. I think I will unload at 12.50ish. Looks like the market is picking back up after the summer blahs.
Anyone looking at MSO options for around March, any thoughts?

 

[steveny]

Looks like the margin squeeze is starting to take affect today. Should bounce here soon. I think I am going to back up the truck and load it.

 

[NemesisX]

Steveny,
Where the hell ya been?? How you been doin? Been doing any Ebay trading today??

 

[steveny]

Steveny,
Where the hell ya been?? How you been doin? Been doing any Ebay trading today??

Ouch for the ebay longs. I thought about buying some Way OTM puts on ebay yesterday but I never followed up on it. I had a feeling they were going to do poorly today. I am trading MLNM, ICOS, PMCS, today.

 

[NemesisX]

-21%....you KNOW those Ebay longs are hurting!! would you have made alot of money on those puts??

I wonder if they have Ebay stock for sale on EBay today!

Im still trading those Eminis and Big SPoos!

 

[steveny]

-21%....you KNOW those Ebay longs are hurting!! would you have made alot of money on those puts??

I wonder if they have Ebay stock for sale on EBay today!

Im still trading those Eminis and Big SPoos!

I took a quick look at the 90's but got a phone call and got side tracked. I traded pretty heavy too yesterday so I had a lot of stuff going on at once. Any of the puts would have been a good play.
85.00 XBAMQ.X 2.15 2.05 2.05 2.15 28,541 16,695
90.00 XBAMR.X 6.60 6.30 6.60 6.80 6,603 14,759
95.00 XBAMS.X 11.60 10.95 11.50 11.70 6,061 16,905
100.00 XBAMT.X 16.60 15.05 16.50 16.60 6,147 25,756
105.00 XBAMA.X 21.50 17.90 21.40 21.70 4,807 19,412
110.00 XBAMB.X 26.60 19.30 26.50 26.70 1,972 12,166
115.00 XBAMC.X 31.60 19.70 31.40 31.70 1,076 8,475
120.00 XBAMD.X 35.50 18.60

 

[NemesisX]

Anyone still following the markets????? What do you think of the past week??

 

[Ryanmcd2]

I wrote a system that makes 4-7 points a day on the emini I still watch it but this works well. Using EZLang from tradestation.

 

[willabeest]

Anyone still following the markets????? What do you think of the past week??

beginning of a bear market. probably. BTW i am usually wrong.
but i am in short term bonds and inflation indexed securities.
considering a foreign currency.

 

[Ryanmcd2]

Today looks long to me

 

[steveny]

Today looks long to me

Great guess with 30 minutes to go. :wink: :biggrin:

I went long a few weeks ago with leaps and options for the end of this year, jan 06 and 07. I may have jumped in a little early but I am feeling pretty good after today.v If we get an up day again tomorrow I will be very happy.