|
PureBytes Links
Trading Reference Links
|
<x-html><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD>
<META content="text/html; charset=iso-8859-1" http-equiv=Content-Type>
<META content="MSHTML 5.00.2014.210" name=GENERATOR>
<STYLE></STYLE>
</HEAD>
<BODY bgColor=#ffffff>
<DIV><FONT size=2>Does anyone have an ela for Kaufman's Modified Moving
Average?</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>If so could you please send it to me?</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Regards<BR>David Hunt<BR><A
href="http://www.adest.com.au";>http://www.adest.com.au</A><BR>Australia<BR>Phone:
612 952 74690</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Tue Dec 14 17:10:25 1999
Return-Path: <listmanager@xxxxxxxxxxxxxxx>
Received: from mail.thetrellis.net ([208.179.56.11])
by purebytes.com (8.8.7/8.8.7) with SMTP id SAA08732
for <neal@xxxxxxxxxxxxx>; Tue, 14 Dec 1999 18:03:30 -0800
Received: from REALTRADERS.COM
([208.179.56.198])
by mail.thetrellis.net; Tue, 14 Dec 1999 16:57:00 -0800
Received: from smtp6.mindspring.com by realtraders.com
with SMTP (MDaemon.v2.8.5.0.R)
for <realtraders@xxxxxxxxxxxxxxx>; Tue, 14 Dec 1999 16:52:50 +0000
Received: from computername (dal-qbu-zoq-vty37.as.wcom.net [216.192.248.37])
by smtp6.mindspring.com (8.9.3/8.8.5) with SMTP id TAA13075
for <realtraders@xxxxxxxxxxxxxxx>; Tue, 14 Dec 1999 19:54:19 -0500 (EST)
Message-ID: <00a401bf4696$ec45cf60$25f8c0d8@xxxxxxxxxxxx>
Reply-To: "Linda Swope" <linda@xxxxxxxxxxxxxx>
From: "Linda Swope" <lswope@xxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Subject: [RT] daytrading - level II distractions / NYSE vs NASD
Date: Tue, 14 Dec 1999 17:54:18 -0700
MIME-Version: 1.0
Content-Type: multipart/alternative;
boundary="----=_NextPart_000_00A1_01BF465C.3E7EDBE0"
X-Priority: 3
X-MSMail-Priority: Normal
X-Mailer: Microsoft Outlook Express 4.72.3612.1700
X-MimeOLE: Produced By Microsoft MimeOLE V4.72.3612.1700
X-MDaemon-Deliver-To: realtraders@xxxxxxxxxxxxxxx
X-Return-Path: lswope@xxxxxxxxxxx
Sender: listmanager@xxxxxxxxxxxxxxx
X-MDMailing-List: realtraders@xxxxxxxxxxxxxxx
X-MDSend-Notifications-To: listmanager@xxxxxxxxxxxxxxx
Status:
<x-html><!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN">
<HTML>
<HEAD>
<META content=text/html;charset=iso-8859-1 http-equiv=Content-Type>
<META content='"MSHTML 4.72.3612.1706"' name=GENERATOR>
</HEAD>
<BODY bgColor=#ffffff>
<DIV>
<P><I></I><FONT color=#000000>Traders,</FONT></P>
<P>As I continue to develop my daytrading system, I find that I am often shaken
out of a trade by Level II activity well before my stop or target is hit.
I am not scalping and need to give my trades some room to develop. I am getting
better at sitting through some of the "noise" and waiting on my
indicators, but I usually find myself so glued to Level II and every tick
makes my heart pound. There is no doubt it is increasing my trading
stress. </P>
<P>Yes, I've considered turning off Level II, but I wonder if I would now be
trading at a disadvantage to all the other traders I'm competing with.
I've been considering changing to NYSE stocks just to get rid of the Level II
trap. Below are some thing I found on another forum regarding these
questions. All input, similar experience, and suggestions are
appreciated. Thanks!</P>
<P><I>More information does not necessarily improve trading results. NASDAQ
Level II provides detailed data on market makers and the depth of their markets.
Unfortunately such information may focus the trader on the process rather than
the result. The final resolution of this price competition often presents more
valuable signals for profitable execution.</I></P></DIV>
<DIV><FONT color=#000000>Daytrading NYSE versus NASDAQ Stocks
<P><B>NASDAQ Advantages:</B><BR>1) Fast executions on ISLD<BR>2) Ability to see
Level II data for depth of market<BR>3) Ability to trade after hours using ECN's
<P><B>Nasdaq Disadvantages:</B><BR>1) SOES useless in stocks that are
moving<BR>2) SNET useless in stocks that are moving<BR>3) ISLD trading can
result in partial fills (7 shares, etc)<BR>4) Market makers only showing firm
quotes for 100 shares<BR>5) 17 second delay given to MM's before they must
update quote<BR>6) Even if alone at the inside bid/ask and multiple executions
take place at your price, you won't necessarily get filled, as payment for order
flow brokers simply fill their orders by matching your price.
<P><B>NYSE Advantages:</B><BR>1) The NYSE exchange specialist is forbidden from
executing an order for himself in preference to filling an existing limit order
on his book (I.e. from a customer).<BR>2) Your limit order has equal standing
with all other limit orders on the NYSE book. No bypassing your order on NYSE,
orders filled based on order entry time.<BR>3) You will never get filled with 7
shares out of a 1000 share order!<BR>4) The stocks move slower and may be more
easy to predict direction.<BR>5) The posted quotes are 'real', and therefore
give you a realistic hope that they can be executed against (i.e. no 17 second
phantom MM)
<P><B>NYSE Disadvantages:</B><BR>1) Order executions can be much slower due to
the trade being filled manually by the specialist using the SuperDOT system,
typically 10-60 seconds (sometimes longer)<BR>2) The specialist does not have to
show the full size of the bid/ask on the book.<BR>3) Payment for order flow
firms can bypass your limit order on the NYSE book by executing their customer
trades for themselves on regional exchanges.<BR>4) Lower volatility means less
movement and thus less profit potential for 'perfect' traders.<BR>5) No ECN's
mean larger spreads.
<P><BR></FONT></P><BR>Linda<BR>Swope's Mountain Photography<BR><A
href="http://www.swopephoto.com";>http://www.swopephoto.com</A><BR><A
href="mailto:linda@xxxxxxxxxxxxxx";>linda@xxxxxxxxxxxxxx</A><BR>Climb the
mountains & get their glad tidings: Peace will flow into you as sunshine
into flower; the winds will blow their freshness into you & storms their
energy, & cares will drop off you like autumn leaves. John Muir 1838 -
1914</FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000></FONT> </DIV></BODY></HTML>
</x-html>From ???@??? Tue Dec 14 17:35:25 1999
Return-Path: <listmanager@xxxxxxxxxxxxxxx>
Received: from mail.thetrellis.net ([208.179.56.11])
by purebytes.com (8.8.7/8.8.7) with SMTP id SAA09619
for <neal@xxxxxxxxxxxxx>; Tue, 14 Dec 1999 18:34:32 -0800
Received: from REALTRADERS.COM
([208.179.56.198])
by mail.thetrellis.net; Tue, 14 Dec 1999 17:28:38 -0800
Received: from infowest.com by realtraders.com
with SMTP (MDaemon.v2.8.5.0.R)
for <realtraders@xxxxxxxxxxxxxxx>; Tue, 14 Dec 1999 17:25:24 +0000
Received: from success (ewok19.infowest.net [216.190.29.69])
by infowest.com (Postfix) with SMTP
id 8713620F68; Tue, 14 Dec 1999 18:26:55 -0700 (MST)
Message-ID: <003301bf469b$77d0a1a0$451dbed8@xxxxxxx>
From: "Brent" <brente@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
References: <007401bf41d2$1ce572c0$ed3dc018@xxxxxxxxxxxxxxxxxx><12792.991208@xxxxxxxxxxxxx> <017401bf4250$9f2a4e30$e5ceead8@xxxxxx> <v04220802b476bc97f4c0@[140.239.87.114]>
Subject: [RT] Re: Is trading system necessary for a successful trading?
Date: Tue, 14 Dec 1999 18:26:50 -0700
X-Priority: 3
X-MSMail-Priority: Normal
X-Mailer: Microsoft Outlook Express 5.00.2919.6600
X-MimeOLE: Produced By Microsoft MimeOLE V5.00.2919.6600
X-MDaemon-Deliver-To: realtraders@xxxxxxxxxxxxxxx
X-Return-Path: brente@xxxxxxxxxxxx
Sender: listmanager@xxxxxxxxxxxxxxx
X-MDMailing-List: realtraders@xxxxxxxxxxxxxxx
X-MDSend-Notifications-To: listmanager@xxxxxxxxxxxxxxx
Reply-To: brente@xxxxxxxxxxxx
Status:
Although I'm not a great easy language programer, this reflects my
experience to a great degree. I agreed to try and create a system for a
broker/trader friend. It was based on a system that he had learned. He
purchased this learned system for about $10 thousand. It soon became clear
that the raw signals were better filtered by him than trying to filter out
"wrong" signals.
I'd love to be a system trader myself, if only... Perhaps when computers can
learn things as a person does it will be possible.
Brent
|