Jul 26, 2007

XLB - Short

Wow... what a day. Not sure if it's my system, but I felt a little overwhelmed as a lot of signals were going off for me and it felt like they all happened at the same time. In any case, I hope everyone did well and caught some nice short runs. Here's one trade I took today (10-min):

  • Placed fibs. from 1st bar high to 2nd bar low
  • During the 5th bar price broke through the 61.8% level but fell back down and left a long upper tail (bearish)
  • Entered on break of 10:30 bar low on increased volume
  • I was thinking of exiting after the 11:45 hammer candle (on the :15 chart) but price really didn't close above the 5ema and the market was tanking so I waited it out
  • Exited on a break of the 1:30pm candle high (:15 chart)
Entry (10-min)

Exit (15-min)

I also traded BID, FED and LCC.


JerryC said...

Wow, I guess I am the only few who didn't made money in short.

Have you ran into any trouble with IB using Vista?

Cos I will join them in a week and they told me they don't support Vista and users have some issues with it.

Call 2 times and they told me to use try and change os later if have trouble.

OONR7 said...

jerryc: glad to hear you're joining IB. That was probably one of the wisest decisions I ever made (thanks to Esto).

As for Vista... I have a 3 month old Dell laptop that has the Home Edition of Vista and I have no problems. I don't know if the Home edition is different.

Jerry said...

I will use IB and my other broker. This way I can trade everyday if I want. However, I need more practice.

You said Dell laptop? Did you bring this to a trip to trade? I was wondering if you can tell me the basic configure & model so I can buy something similar or more when I trade on the road. Thanks.

Btw, I checked out the workstation web you and other sugggested, it cost so much. My friends said he can build the same one for $700 (support 4 monitors) price excluded monitor of course.

Anonymous said...

I'm trading from my old Dell Latitude 800 machine with 1GB memory.
it's running win xp with SP2 and I have IB QT AB and firefox open at the same time, it's OK, with 100 to 150 stickers stream from QT.
I don't use IB's data feed, it's too slow for me. I use etrade or TD.

Hope this help.


BTW jerry, I didn't make money today on short, but I didn't loss money either, I entered two good position, but I moved stop to break even quickly after the price drop and it later comes back take my stop out then free fall.

OONR7 said...

jerryc: yes, I used it on my vacation and it worked great. It's a Dell Inspiron E1505:
E1505 Dual Core
Intel® Core™ 2 Duo T5600 (1.83GHz, 2MB L2 Cache, 667MHz FSB), Genuine Windows Vista™ Home Basic

They had a real nice deal... I think I paid just over $1,000 for it. I would probably bump up the processor from 667 to 1GB but that's really about it.

Also, I'll be sure to get in touch with you when I get back to the states about creating a killer trading machine :)

Jerry said...

Thank you all for the reply.

My p3 desktop is running fine now, but I tried IB java demo and it is like a turtle. Maybe the Dell Latitude 800 have better cpu and highspeed Ram.

Dell E1505 compare to the Dell 1720 my friend advised is about the same price. However, screen and weight is a bit different.

Pumping up CPU in laptop is hard and may burn cpu (unless you purchase insurance). I guess I will only do it to Desktop. :)

Check out the workstation part at newegg.com so you get a better idea about the real price.

Btw, did anyone of you have trouble with QT lately. Mine just stop receiving data and sometime delay feeds up to 15 sec. But my mb trading software it running fine. Reboot helped but the delay maybe costly. Email qt and still no feedback.

OONR7 said...

jerry.. I sometimes have feed issue with QT, but I just figured it was my datafeed and not QT. I emailed them once and the problem wasn't on their end. Surprised you haven't heard back from them as they're quick to respond.