Trades for Tuesday 9/13/05
NEW short 43.55 covered 43.48 +.07 (almost got burned in that one,trading erratically)
WLT long 47.11 sold 47.09,47.15 -.03,+.04
NEW short 43.44 covered 43.30 +.14
WLT long 47.29 sold 47.41,47.45 +.12,+.16
This WLT was being held up by specialist all morning never penetrated the 47.00 after trading above that,had to exit the first time because I generally keep very tight stops.The better entry was at 47.05 5000 shares came down that I could have hit but I was having connection issues "again".Thanks again assent:(.That better entry most likely would have kept me in this trade longer with my out at 47.00 only .05 risk.
Choppy session thus far.One more comment: There is a lot of talk of trading journals,psychology,entrie,exits, but I have yet to here anything on system reliability(Computer,Connections,Brokers Connections "reliability"(yeah you know who you are!).Maybe I'll write a post on that or will find some more info or opinions on the matter soon.I think that comes above all in a traders ability to be successful,otherwise it's like racing a beat up ole'VW bug against a Ferrari.My guess is the Ferrari will win every time and people will stop trying to race the VW. :-)
posted by txtrader @ 12:18 PM
4 comments
4 Comments:
I hear that.:-) yeah Assent seems to have some major issues right now with their servers and it's starting to interfere with my trading.Every time there is volume they go down or get a delay.(ok not every time,but it does seem to be an Everyday issue now,very annoying).Maybe I check out IB soon, if Assent doesn't fix things faster.I use Esignal,Trade-Ideas,Trade the News, and have no problems there at all,so it's definately not on my end.Assent problem just affects me,and many others from what I'm hearing, while they still get paid for crap.Then they send out this big letter saying there not responsible,well who the #@!@ is!
Cheers
P.S (you see that WLT take off,traded up to 48.08, I told you specialist was buying). :-)
My web host is still having issues caused by the L.A. blackout yesterday (they're in L.A.) . Maybe, just maybe, if things are much worse than normal today that has something to do with it.
I've never (ok, rarely) had connection issues with CyberTrader. Perhaps you should give them a try.
Hey guys,
Thanks for the informative comments. Mike I don't think the LA outage is the problem,it's been an ongoing thing for weeks now,and I connect SSL directly to Hoboken NY.It's definately a problem with there servers not being up to par with some of the changes going on that I've heard hearsay of.I've been with assent for several years now and yes they have had there problems,but never this bad.I think it may also have something to do with a certain ECN running tests through out the day,unannounced to anyone, but this is what I am told and not a fact.Anyway, yes I may have to check out some other places if this continues for much longer.
Yes Eyal you can find patterns where the specialist is only useful in certain stocks,some are easier than others.That WLT seems to have been very choppy ever since it went on the nyse pilot list,but it was very clear he was buying,just needed a better entry,had it and didn't get it.Sometimes those need a little more room too.
Do you guys both have Hot keys available through your brokers.
It may seem like a naive question, but thought it might be worth asking anyway.
Besides the usual risk management, and having an alternative broker handy, is there any form of trader insurance policy you can get to help insure against the unlikely but theoretically possible event combination of system breakdown etc etc? (Imagine a perfect storm scenario)
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