6E 5min
6B 89-Ticks
It's been a long time - that whenever I make ONE point on 6E, I'll see "11" as the first 2 figures on my NET PnL.
My other broker had spoiled me with "12". When things seem too good to be true, they usually are.
I'm very contented with IB now. I've never been calmer in my trades. Even when I was getting in and out of trade chasing that run up on 6B yesterday, there was not a single incident of "fills" issue on IB's BookTrader. I covered my longs either at exactly where market was, or at a price higher than market (ie. my offer was matched with a bid).
D has not received a certain piece of document from IB - it was supposed to have arrived days ago.
Unlike before, we hadn't made a fuss.
No one's perfect. And no company is perfect.
IB is far from perfect of course - terrible charts, substandard service, its TWS MUST die on the dot at 9:30pm ET EVERYDAY and 12am ET (that's my daytime and trading time) - despite all these, it gives me a chance to make it at trading by fairly matching and sending my orders. If ever I make a loss on a trade, it's always due to the fact that I had made a bad judgement call at my end in the first place, NOT coz I had entered at a super lousy price, or couldn't get filled when I'm on the right side of the market (on the wrong side, I DO get filled. Which is why the issue of my internet connection is irrelevant).
The consequence of not getting filled consistently when you are aligned with the market is that you end up taking inferior setups after that, if you were not already sitting on a paper loss after CHASING price up/down after missing your golden WINDOW (and really, how many of such windows do we have in a day - particularly for those who have only a limited time to trade per day?). The opportunity cost is merely the tip of the ice-berg.
11 comments:
Well done Jules! Your price action reads are becoming very consistent. And the results show.
Kudos!
Btw, did you know that Lonely ended his blog?
I agree, Jules. IB has absolutely horrible customer service. And, it is tough sometimes to take the no-frills, bare-bones approach. But, as temperamental as it is, it performs well. And that is most important.
Hey DT! :-)
Actually, I really don't know if it's better to have USD 300,400,and 500 up days, with occasional USD 500-800 down days, OR, consistent USD 100 - 200 days with small down days. The latter is definitely easier on the heart. I guess if I'm going to be doing this for a long time, I'll just have to go with the "slow and easy" option :-)
Yes, I know Lonely said his good-bye. But I chat with him so his closing his blog hasn't caused me any mental distress LOL!
You recovered from your flu?
Hello, BluecollarTrader! :-)
Being a Singaporean, it's not that hard for me to look past the lousy customer service LOL! Yes, what's most important to me is that whatever that I'm using has to WORK as it's supposed to.
Have you started live trading?
"I personally don't like trading flags (ie. buying a "dip") these days."
My bread and butter trade is the breakout from the flag after a MA test. But that's just me! :-) Keep doing what's working for you Jules!
It was more like a 2-3 day head cold. Gone now. :-)
Well, DT, flags happen to be my coach's favorite too! He says that whenever you see a flag, TRADE IT! I'm such a rebel LOL!
You're right about IB having lousy service. I'm thinking of switching to another broker/trading platform. Anyone have any good ideas?
Hi Albert!
Have you been having problem with IB? TWS?
You might want to consider Sandy and MBA's recommendations (you can find them under the comment section of my rants from 2 weeks ago :-)). Sandy's list should keep you busy (researching) for a while.:-)
Thanks, Jules, I'll have a look at your rants.
Anyways, my issue is with IB's customer service--I've been trying to get some account details changed and it's taking weeks. Arggh.
TWS is ok as a trading platform but I don't like its user interface. I'm an UI geek so I loathe how TWS doesn't use the OS' native design paradigms. Java sucks!
Albert, SPEAK ENGLISH please?? I'm not exactly fluent in Greek LOL!
You boys are having so much fun writing programs and scripts I'm really tempted to pick up one of D's programming books! :-)
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