Dump it Here

[Captain_Chaza]

Sorry Captain Skate but I have noticed Your Good Ship has sprung a Leak
Your Beloved WGO failed to open on Monday
I have placed the Vertical Line on Friday 11th to accentuate Monday's GAP
I have also noted that your 3% rule has not been activated in your opening price limits

Salute and Gods' speed

 

[Skate]

I have placed the Vertical Line on Friday 11th to accentuate Monday's GAP

Thanks, Captain for having an eagle eye, it's been adjusted.



Skate.

 

[Skate]

From @ducati916 post today
I found this to be an interesting comment from Alameda's 28-year-old CEO Caroline Ellison who Sam Bankman-Fried’s blames for the failure of FTX.



Skate.

 

[Skate]

I knew I was smarter than most people (Alameda's CEO Caroline Ellison)
If you say it, you tend to believe it. Intellectual honesty, let alone accountability, is increasingly in short supply these days. Even celebrity endorsements come across as economic statements.

The internet is supposed to be a leveler
Having unlimited amounts of knowledge at our fingertips, the technology of the internet was supposed to facilitate a level playing field. Only to discover we have become passive consumers of the worst kind of content. In the process, of absorbing information we are still influenced by celebrities & even those we call journalists.

Skate.

 

[Skate]

The collapse of the crypto exchange FTX
Reminds me of a story about how someone like Sam Bankman-Fried’s (FTX) made it to the top & failing to stay there.

A bull & a pheasant was talking in a paddock
The pheasant said: "years ago we could fly to the top of the tree & eat the new shoots"
The bull replied: "you still can "if" you eat my dung"
The pheasant: "eat your dung & I can fly to the top of the tree"
The bull replied: "yes"

The pheasant ate a little dung for the next week
Sure enough, he flew to the top of the tree, eating the new foliage.

Along came the farmer & shot the pheasant

The moral of the story
"_Bullshit_" might get you to the top, but staying there is next to impossible.

Skate.

 

[Skate]

I recently met a guy from the USA
Striking up a conversation I asked why he was in Australia.
"To talk to the government about nuclear power".
I thought this will be interesting.

Before I could start the conversation
He said: "let me ask you a question first".
"A horse, a cow & a rabbit all eat the same stuff, grass. Yet a rabbit excretes little pellets, while a cow turns out a flat patty & a horse produces clumps of dried grass. Why do you suppose that is?"

I said
"Hmmm, I have no idea,"

To which he replied
"Do you really feel qualified to discuss nuclear power, when you don't know _shit_?"

I quickly responded
"Do you know why human _shit_ is always tapered on one end?"

He responded
"Hmmm, I have no idea."

To which I replied
"So your bum doesn't close with a bang, so don't be a smart ar$e".

You guessed it
The conversation went no further.

Skate.

 

[Skate]

Before I get off my soapbox
I enjoy reading Twitter feeds but when they throw in personal non-related _shit_ "that no one gives a rat ar$e about" is a real turn-off. Do you want others reading this crap? stay on point. It appears to be a Twitter theme of infatuation with oneself. (No one cares)






Skate.

 

[Garpal Gumnut]

Here at the hotel, I find, like you @Skate that I am the most modest man in the room/conversation.

So when a yahoo like the American above appears in the bar I get him to organise a committee and report back to me the following day the results of the committee's deliberations e.g on nuclear power, on One Printed A4 Sheet.

Life is short, too short to be tolerant.

gg

ps I tend to light a match to printed A4 sheets of paper to light a Cohiba, it provides a more satisfying smoke from the get go.

gg

 

[Skate]

The collapse of the crypto exchange FTX
Reminds me of a story about how someone like Sam Bankman-Fried’s (FTX) made it to the top & failing to stay there.

The story about a bull & a pheasant.

Tense situation Mike Tyson and Sadhguru
The story I told earlier was from memory. I found the YouTube that tells the story much better. Mike Tyson was interviewing Sadhguru with hard-hitting questions. Sadhguru had to tell a joke as the situation got tense.



Skate.

 

[Willzy]

Hi all, I have a question someone may be able to help me with (completely off the current topic)

I am trying to trade low volume / turnover stocks in the US with a very basic mean reversion strategy. The strategy uses limit orders for entries. Now in Australia with the ASX as I understand it, if a limit order is submitted to the market before the open, the openg auction will consolidate the orders and should the OPEN price be less than my limit price I would be filled at the OPEN price.

Now I seem to have foolishly assumed the same thing happens in the USA.

Here is a chart from tradestation. I submitted a limit order (via TS automation) to enter at a limit price of $145.97.

The OPEN of the candle was $143.39.

My order was filled at my limit price of 145.97, which both TS and Norgate data both say the high of the day was $145.00

So how was I filled at a price which is outside the candle?

Have I missed something ridiculously obvious???

Cheers
Matt
View attachment 149023

Hi all, For those who contributed to my post above, a very sincere thankyou!

I believe I have worked out what went wrong and I thought I'd post it here just incase this helps someone in the future

When using the TradeStation Strategy Engine, when an instruction is sent using EasyLanguage code:

“buy nContracts contracts next bar at entryLimit limit;”

At the close of the bar generating the order, the TradeStation Strategy Orders tab shows the order as 'HELD' due to time. I have subsequently found out that these orders are 'Day' orders in that they expire at the close of the trading day and critically they cannot be submitted until the market is open.

So I believe what has happened is that I missed the opening auction all together and the exchange is received the order 3 seconds after the Open of the day (confirmed by order ticket).

When submitting orders for my other trades on a different strategy, I have been using 'GTD' - "good till date". These orders may be submitted to the exchange when the market is closed. These orders do not show as ‘HELD’ but rather ‘QUEUED’ and I believe they are submitted directly to the exchange and thus participate in the market open.

Last night using this strategy I submitted my orders manually using the GTD order type and they worked flawlessly, the market gaped in my favor and my trades were executed at the open price.

Again, sincere thanks for those who contributed, I hope this helps someone in the future

Cheers
Willzy

 

[Captain_Chaza]

I have traded shares On the Open for over 2 decades
4 decades if you count those decades with little funds
and I have learnt "ONE THING"

Good Buying on the Open "Cannot be Automated!"
It is all Smoke and Mirrors marketing IMHO

Nobody has ever lived through 2-4 weeks in real time in front of us
All they talk about is how it worked in the Cinderella years a few years ago

Do the Hard yards for yourself if you doubt me and say that I am wrong

What a Joke!

I see Holes Every where! In "AI" buying on the open

Salute and Gods' speed

 

[Willzy]

I have traded shares On the Open for over 2 decades
4 decades if you count those decades with little funds
and I have learnt "ONE THING"

Good Buying on the Open "Cannot be Automated!"
It is all Smoke and Mirrors marketing IMHO

Nobody has ever lived through 2-4 weeks in real time in front of us
All they talk about is how it worked in the Cinderella years a few years ago

Do the Hard yards for yourself if you doubt me and say that I am wrong

What a Joke!

I see Holes Every where! In "AI" buying on the open

Salute and Gods' speed
View attachment 149467

Sorry was this directed at my post?

I'm not quite sure what you're getting at here?

The question came about because I found a descrepancy between my amibroker backtest and what I was able to achieve in actual market trading conditions. Being that if I submit a limit order tonight and the market gaps in my favor on the next trading day, should I not expect to be filled at the OPEN price.

The strategy in question buys using limit orders not specifically at the open...

FWIW I'd actually argue from experience that buying and selling at the CLOSE is significantly harder!

 

[Gringotts Bank]

Sorry was this directed at my post?

I'm not quite sure what you're getting at here?

The question came about because I found a descrepancy between my amibroker backtest and what I was able to achieve in actual market trading conditions. Being that if I submit a limit order tonight and the market gaps in my favor on the next trading day, should I not expect to be filled at the OPEN price.

The strategy in question buys using limit orders not specifically at the open...

FWIW I'd actually argue from experience that buying and selling at the CLOSE is significantly harder!

In the US you should be able to place a MOC (market-on-close) order, yes? An order that will be filled at the official closing price.

 

[Captain_Chaza]

Nothing Personal!
Just the facts of Buying on the "Open Auction"
IMHO
The Good Ones always Getaway
but it is really Funny how we always seem to get the Dregs

2 Goodies > 20 Dregs (ie; Dragging Wet Sails) IMHO
Luck seems to have no Boundaries
and A.I. is not your friend on the Dawn's Open Auction

That's all I am Saying

 

[ducati916]

From @ducati916 post today
I found this to be an interesting comment from Alameda's 28-year-old CEO Caroline Ellison who Sam Bankman-Fried’s blames for the failure of FTX.

View attachment 149449

Skate.

It just keeps getting worse:

​

​ FTX commander-in-chief Sam Bankman-Fried remains at large after steering the cryptocurrency trading platform into a bankruptcy so hideously tangled that the assigned liquidator in court proceedings, one John Ray III, who oversaw the Enron aftermath years ago, was boggled by what he’s found so far (and it’s early in the game): Namely, a company run by a handful of twenty-something drug freaks with no idea what they were doing, no record-keeping and a slime trail of misappropriated investors’ funds leading to Kyiv and Geneva through various crooked American political action committees, and the halls of Congress — with echoes in ballot harvesting shenanigans which shaped the outcome of this month’s U.S. elections. Mr. Bankman-Fried is still scheduled as a main speaker for Accenture’s Nov. 30 DealBook Conference in New York ($2,499 for a ticket), along with Ukrainian President Volodymyr Zelenskyy and U.S. Treasury Secretary Janet Yellen. Odds on him showing up? Or even being alive elsewhere on this planet then?​

​

​ The Woke Aristocracy The Bankman-Fried extended family is the quintessence of Woke aristocracy. Dad Joe Bankman and mom Barbara Fried are both law professors at Stanford. She also acted as a money-bundler for the Democratic Party and ran two nonprofit “voter registration” orgs (against the IRS laws which only permit nonpartisan organized voter registration). Brother Gabe Bankman-Fried headed a nonprofit named Guarding Against Pandemics (funded by Sam), which lobbies Congress to construct new platforms for medical tyranny. Aunt Linda Fried is dean of Columbia U’s Public Health School, and is associated with Johns Hopkins, which ran the October 2019 Event 201 pandemic drill (sponsored by the Gates Foundation) months before the COVID-19 outbreak. Sam’s girlfriend, Caroline Ellison, ran the Alameda Investments arm of the FTX empire (that is, FTX’s own money laundromat). Her dad, Glenn Ellison, is chair of MIT’s Econ School. His former colleague on the MIT Econ faculty, Gary Gensler, who specialized in blockchains there, is now head of the Securities and Exchange Commission, an agency that Sam Bankman-Fried was attempting to rope into a regulation scheme to eliminate FTX’s cryptocurrency competitors. Caroline’s mom, Sara Fisher Ellison, is an MIT econ prof specializing in the pharmaceutical industry (fancy that!). Caroline Ellison is currently on the run.​

jog on
duc

 

[Willzy]

In the US you should be able to place a MOC (market-on-close) order, yes? An order that will be filled at the official closing price.

Yes a MOC order can be submitted, and in certain circumstances it works fine ie a nBarExit.

For any rule based exit however, such as C > MA(C,5) or RSI >55 etc, then you won't know for certain that the close is above the moving average or the RSI has crossed 55 until the actual close is made. Hence you have to pick a time before the close to 'draw the line in the sand' where the indicators are finalised and you still have enough time to submit the order. In some cases I use 5 mins before the close, in others I've shaved it down to under a minute.

Limit orders however have an advantage in that you can submit the order when the market is closed and hence have hours to run the calcs and submit your orders for the next session. The downside however, is that everyone now has 12+ hours to see the same signal that you have and market edges seem to disapear over time.

Horses for courses I guess...

 

[Nick Radge]

The downside however, is that everyone now has 12+ hours to see the same signal that you have and market edges seem to disapear over time.

Use hidden orders or, if available, some of the execution algo's like Dark Ice

 

[Captain_Chaza]

What sort of money are we talking about here?
At what size of Bet/ Investment does Personal Involvement become Important/ PARAMOUNT
in lieu of A.I.

I say NEVER!

Salute and Gods' speed

 

[Skate]

Chasing Breakouts will send you broke
I'm just musing while I'm waiting for the markets to open. I know trading is a simple endeavour, but making money is becoming increasingly more difficult. Yesterday I was discussing privately some of the ways I trade. I appreciate my way of trading is not for everyone, even my views on trading can at times be just as confronting. Most times I talk about the abundance of ways I enter the market but rarely explain why staying out of the market can be just as beneficial while the overall profitability increases.

I prefer to get on early when a breakout is confirmed
That statement is as stupid as "buy low & sell high" without explaining the catchphrase in more detail. I won't recanvass what I spoke about yesterday but I want to include some of the things I neglected to say at the time. Over the years we gain trading knowledge & to explain that knowledge in a linear way becomes near impossible when you are reciting from memory. It's even harder when the knowledge is mixed with research.

Skate.

 

[Skate]

My research confirms there is momentum before a breakout
Why is this important? for the very reason why chasing, every breakout will send you broke. Breakouts with momentum & market volatility stack the odds in your favour when trading. As a trend traders, we profit from price movements to the upside. Taking a breakout with momentum, the easier it is to hold onto your winning trades. This really means, momentum is the driving force behind profitable trades.

Breakouts happen with high-frequency
Being selective & looking for momentum before breakouts simply defines the strength of the breakout. Unfortunately, all breakouts don't hold the same value. Basically, I'm always on the lookout for momentum so you could refer to me as a "momentum, volume & volatility" hunter.

Skate.