Wednesday, May 30, 2007

Trade-Ideas Releases v2.1

The beta release we launched for v2.1 was our most popular and most widely used beta yet in our history. Now the official version is available for everyone. If you are already using Trade-Ideas Pro, a prompt already asked you if you would like to download the latest version.

Here's a recap of why you should:
  • Additional features in The Odds Maker. Hit the “Start” button and you will see these on the “Configure Odds Maker” window.
  • You can now exclude specific symbols, or attach an alert window to a single symbol. Select “Configure...” from the pop-up window, then the “Symbol Lists” tab to see this.
  • You can now access the “Flip” feature from the Trade-Ideas Pro “Configure Alerts” window. The flip feature allows you to switch between a bullish strategy and a bearish strategy in one click.
  • New view modes are available from the pop-up menu.
  • New help is available: http://static.trade-ideas.com/TIPro/Trade-Ideas_Pro_User_Guide.doc

More details about what's been added (including a collection of great articles about The Odds Maker) appears at this post that introduced the beta:

Trade-Ideas Releases Beta of v2.1 with Plenty of New Features

Monday, May 28, 2007

Be Like Rick (Part 3): Learn Technique on Our Time - Save Yours for the Improved Trading

We conclude our 3-part series featuring the experiences of Rick B. who came to Trade-Ideas a bit frustrated with what a trading tool could do to improve his performance. Intrigued by our open invitation to spend one-on-one time with everyone who subscribes to Trade-Ideas via a scheduled, personal training session, Rick B. learned powerful ways to use our tools and, even more important, better questions to ask himself during the trading process.

Here's Part I of the story:
Here's Part II of the story:

Lessons from the Trade-Ideas Training Session

"I freed myself from the confines of outdated technical analysis jargon, and have gone to create complex strategies from simple events such as new 30 minute highs or lows and pullbacks.


The moral of the story is simple. I had been stubborn and did not allow myself to challenge some old notions. Once that spell was broken a new world of opportunities opened for me and my trading has reaped the benefits. The markets keep evolving and I will never bring another knife to a gun fight."


Rick B professional trader.

TraderFeed's Trader Coaching Program


Here is a great learning opportunity to sit with a trained psychologist, Dr. Brett Steenbarger, who understands and even excels at trading, pattern recognition, and strategy development. To the lucky trader with whom he chooses to spend the month, a great deal of knowledge and self-awareness will be passed.

In Brett's words:
"I'll take on one trader for a month free of charge and we'll document the process on this blog."

The details to apply (hurry!) are here:
http://traderfeed.blogspot.com/2007/05/trader-coaching-project.html


Sunday, May 27, 2007

Be Like Rick (Part 2): Learn Technique on Our Time - Save Yours for the Improved Trading

Good movies often portray characters who go through transformations. They are different at the end of the film from where they were at the beginning. Here is the continuation of Rick B.'s trans-formative experience with Trade-Ideas. Part 1 of the story begins here.

The Trade-Ideas rep suggested that I get set up with a private one on one training session to show me some of the new improvements that have been made recently that the Trade-Ideas rep thought would change how I looked at the market. Again I was fairly skeptical in that I just wanted my stochastics added, but since I was now a Trade-Ideas customer and this trainings session was a one on one and it was free I decided that it could not hurt.


What happened next has changed the way that I approach trading stocks and has added at least over 25K in my account since the month of May. I was called by Jamie Hodge, who is the resident Trade-Ideas expert at setting up trading strategies using their software. Jamie quickly took me through some basics and even in that brief session I realized that I had no idea what Trade-Ideas software was really capable of doing. We dove into the various filters like Min Up Days and Max Up Days and went further into set up creation. Jamie informed me that it was quite common for people to come into Trade-Ideas looking for TI to recreate what they had learned from older technical analysis software programs.


Then Jamie said imagine any chart pattern not in terms like MACD, or DMI, or RSI, but can you linguistically say what the pattern does? I gave him a couple of examples and in less than 2 minutes he had Trade-Ideas spitting out those patterns using a combination of their alerts and filters. He said just speak to yourself in English when you are trying to describe something and it will easily translate into a Trade-Ideas strategy. Then came the big one! Jamie had me install the latest version of their software. This is version 2.1 and at the bottom of every window you can see a green button that says “Start” he said lets look at a strategy that will demonstrate how important it is to have the right tools in front of you when you set off to trade the markets.


He asked me if I was familiar with “Breakout” trading. I gave him a quick history and said that I had been in the game since the old SOES days. So he said then that I must be aware of a simple but popular breakout pattern called the 30 day high. I told him that of course and he asked me if I had my charts up. I said yes, and he proceeded. He sent me a link over IM that allowed me to instantly take a strategy he made for me and import it into my Trade-Ideas Pro using a feature of their software called collaborate.


For those of you who are Trade-Ideas customers I am including this strategy as it is an important lesson in my opinion for everyone to see.

30 Day Highs on High Relative Volume

Jamie and I went through this window and pulled up the stocks for a bit as they came through. He asked me what I noticed. I said well the stocks are making 30 day highs on pretty high volume. He said exactly. He said, do you notice that as well pull these stocks up, all of them look pretty good from the trading set up standpoint. I agreed that they did. He said that is exactly what he wanted me to see. He then said for me to press the Green “Start” button at the bottom of my alert window. I followed the instructions and a new window opened. It was called “Configure Odds Maker”. He asked me if I wanted to know if I had traded these great looking 30 day highs how well I would have done. I of course said yes. Below is a picture of the settings we put into the Odds Maker window. They are easy to set and even easier to understand.





Figure 1: Odds Maker configuration for testing a strategy in Trade-Ideas PRO


The Odds Maker has some rules that Jamie described to me. Again they are simple. You only trade the first alert for any stocks and you can only trade one stock one time a day to keep things simple. Additionally the system limits you right now to 100 trades per day and allows you to test back 3 weeks or roughly 1500 trades to see how you would have done trading a set up. So in the example above I wait out the first volatile 30 minutes and then buy the new 30 day highs when I first see them and test to see what would have happened if I had kept the stocks until half hour before the market close. The result is self explanatory in the picture below.

Figure 2: Odds Maker Results featuring a daily summary of how the strategy fared in the market








This system that spits out perfect looking trades is the market equivalent of quicksand. It looks good, looks stable and sound but in actuality it can kill you. Then Jamie pointed something out to me that should have been obvious but really did not hit home until I listened more closely. He said for me to be mindful of the fact that the Odds Maker is a new system testing paradigm. The difference is that this software was an event specific system test not a stock specific test. What is the difference? Everything as I have come to realize.


When I designed my fancy stochastic or moving average cross system in TradeStation I was only able to test it out against one stock at a time. It would have taken me 6 months to get all of the results that I got in less than 2 minutes from working with the Odds Maker. That realization is what hit home hard. I asked Jamie for a little time to work with the software before I had to pay the $1100.00 dollar one time fee. He obliged and I went off to do some work on my own.


In two days I made systems with results similar to the picture below and I have never looked back.


Figure 3: Better strategy results described by The Odds Maker



Tomorrow we'll conclude the story and list Rick's own conclusions.

Friday, May 25, 2007

Be Like Rick: Learn Technique on Our Time - Save Yours for the Improved Trading (Part 1)

Our New Training Service Winds Up Teaching Us Many Lessons Too

We use a model at Trade-Ideas that separates into 8 specific steps the path our customers take to first become aware of our decision support tools all the way to experiencing value (translated = making money) and continuing their subscription. One of the steps along the way is training and its been a hard step to help our customers climb given our limited resources and entire focus on developing Trade-Ideas PRO and The Odds Maker. Recently we made progress on this front by hiring a Director of Education and Training and making all of the partners accountable for customer training.

If you are a customer and would like a personal demonstration of all the ways these tools can assist your trading, please schedule a time with a quick email to: tradeideassupport@gmail.com or info@trade-ideas.com.

I'm happy to say many customers now schedule specific times with our Director, Jamie Hodge, and come away with a better understanding of our tool as well as the way they trade. We know this is working and having extremely positive results with our customers. Here is an example.

Over this Memorial Weekend I'll be sharing in piecemeal a lengthy testimonial from one of our customers whose story contains several powerful lessons on how traders must continually educate themselves and what the effect of a helpful hand (from a mentor, educator, or software repesentative) can have on a trader's results.

Meet Rick B.:

Dear Trade Ideas,

I am writing this to you partly to exercise some catharsis for my own benefit and partly to share my insights with the rest of the trading world to whatever extent this happens.

I have been trading for approximately 11 years professionally. I started with the old SOES firms back in the 1990’s and have every since transitioned my game to follow the trends that help me make money.

I am also a chartist. I use to use eSignal, and have since switched to TradeStation to do more automation.

About 2 years ago a friend of mine who was trading out of New Jersey told me about a neat little scanner that was helping him find some opportunities. I took a look at your software and honestly was not really impressed. You see at the time there was a ton of money to be made on the old “Bullet” band wagon. For those that don’t know what that is it really does not matter but for those that do and I know there are plenty of them, you know exactly what I am talking about.

My instinct was if it is not broken why fix it so I continued to do what was making me money. Not necessarily a bad thing, unless you look through the window in hind sight and realize how short sighted the human instinct can really be.

Nevertheless when the bullet game died I needed to figure out what I was going to do next. So, in considering my self a fairly savvy individual, I dove into the TradeStation with both feet. It is a power piece of software and I thought for sure I would be able to find the patterns I needed to pull cash out of the market. I spent time working with indicators and creating my own. MACD crossovers, ADX, DMI, Kelter, Wilder, Stochastic and RSI hybrids, Parabolics, I mean I was in deep. I started doing more back testing and fine tuning some indicator systems and applying them to my trading.

What transpired was somewhat disappointing but ultimately eye opening. It took me 3 weeks to design a system to trade my favorite NYSE stock. The back testing showed that I was right on the money in terms of what I had designed. When I started to trade the system the results really never came close to the results from my back testing. I was frustrated.

So as it happens I was chatting with my buddy from New Jersey as I do from time to time and he started telling me about Trade-Ideas again and a new add on that you guys had released called the Odds Maker. Again I was a little skeptical from my not so great experience with TradeStation and back testing. However this time I though that at least I would take a look.

I believe what happened next happens all the time probably and it is for that reason that I wanted to share this whole story. I signed up for Trade-Ideas and looked over the product. What I found was that it was really lacking most of the technical indicators that I thought were necessary to build a good system. No MACD, no DMI, no Stochastics. I had been using a stochastic system in TradeStation and that is what I had the most experience with. So I emailed Trade-Ideas as a customer and asked them why they don’t add Stochastics as it is commonly used by so many technicians. I said I am looking for a certain stochastic pattern and would like to be notified in real-time when that pattern takes place. I liked the fact that Trade-Ideas watched all the stocks, surely if they could just add the indicator that I needed we would have a marriage made in heaven.

The Trade-Ideas guys sent me an interesting email. They asked me how I know that the stochastics indicator I was looking at really worked. At first I was taken a back by the question. What do you mean how did I know it works? I tested these out in TradeStation and I also was trading this set up……….I started to have this funny feeling. I realized that in reality I did not really know if that set up worked well or not. It back tested fine but really I had not had great results in trying to trade the set up.

Sunday's post will discuss what happened during the training session that followed and will include some screenshots and actual set-ups used by Rick B.

Thursday, May 24, 2007

Cycles of Market Technology: A Quick Brief History

Jaime shows us historical examples of how trading technology and innovation allow individual traders to exploit market inefficiencies and leverage themselves onto the same playing field as the institutions. Below he describes the trends in the kinds of artillery used by market participants and highlights the constant battle between innovators who create advantages in trading and the larger market forces who either adopt such technology or try to eliminate it.
Anyone who’s been paying attention for the past 5 years and witnessed the mutation of the NYSE into the second half of the NASDAQ can pretty much sum it up in one word: Assimilation. When I first started trading in Sept ’96 I didn’t even use charts.

Why?

Because trading the order flow you actually saw on the screen back then was effective. What you saw on the level II and Instinet (let’s not forget selectnet) was actually real. In it’s current manifestation, I would venture to say that the data (orderflow) on the Level II, NYSE Open Book, and all the other ECNs books combined probably only represents about 20-30% of what’s really there.

[Ed. Note: He's got a point. Firms like Jones Trading and Cantor do an increasing business by matching huge block trades over crossing networks that never hit the market tape. Here's an article that appeared today in Traders' Magazine]

Call me crazy. I’ve only been staring at this data for the past 15 years.

Level II displays resemble vicious little meat grinders today in comparison to the conveyor belts of cash that they were a decade ago. You may ask, “Who is running those little meat grinders?” Well, that would be all of the Gang of "THEM"; [Ed. Note: I think what Jamie is saying, is that the Gang of "THEM" is all the specialists and ECN’s and market participants that are on the Level 2 display.]

Just as we will witness the extinction of the NYSE specialist, as algorithms creep deeper and deeper into our trading networks, so too will traders at electronic firms fall by the way side.

Since Harvey Houtkin started exploiting the SOES network back in the early 90’s, plans were set in motion by the Gang of "THEM" to weed out everyone, for good. As one friend and trader has pointed out to me on more than one occasion, HYBRID ("Have your bags ready in December").

Lucky for you and me that innovation has never been spawned by the Gang of "THEM". That means for traders who use technology that leverages their experience and strategy can often do well and create a sustainable advantage before the market changes once again. This cycle follows the theory of innovation diffusion:

Innovative and early adopting traders embrace technology and use it to their advantage against existing market structures --> early majority traders get wind of the technology, begin applying its advantages on a greater scale, and get the attention of market operators --> late majority and laggard traders get the least amount of benefit of such technology before the rules change and render the original advantages as marginal or useless

It’s the Gang's job to eat it once it matures, and then, in turn, use it to there advantage, or in most cases, shelve it. It’s the natural cycle of things in this industry. The period from 1996 - 2000 was a day trader's wet dream.

In 2001 when NASDAQ replaced the SOES network with the Super Montage system that game was over. As a result, many traders migrated over to the NYSE.

Still technologically slow, the listed market was viewed as fresh meat by the most experienced NASDAQ traders and the feeding frenzy began. Once again, exploiting inefficiencies in a markets order entry system was a fun and profitable game. Slowly but surely, one rule change at a time, they have once again successfully locked out most competition.

JH


Tuesday, May 22, 2007

Schizophrenic Since 2-27-2007

Jamie Hodge submits his thoughts in response to recent observations on the high degree of vacillation in the markets:

This vacillation is the product of:

  1. Thin markets (i.e., low liquidity)
  2. Algorithmic market making

Here are some facts and observations:

The market has been quite schizophrenic since 2-27-2007 and is still terribly over done. How many months now without a 10% correction? We are in the longest period without one.

Everything's out of whack for old school thinkers like me - people that make a few trades a day, they won't even notice.

Take a look at the smooth action in the S&P before 2-27 and then after. The market is extremely thin with average transaction size being 400 shares on the NYSE these days.

Figure 1.0: Pre 2-27-2007

One possible explanation:

What happened on 2-27-2007? They pushed the STOP button pure and simple -the system operators weren't even supposed to put trading curbs in until the Dow was down 1200 points. The NYSE simply pushed the stop button - a do over - whatever you want to call it. Then they blamed it on a 'network problem'. Hmmmm.

Figure 2.0: Post 2-27-2007

As far as strategies go, I have many that are working – unfortunately most of them are designed for automation.

JH

We'll get him to share some of these shortly. In the meantime here's a strategy-related post about 2-27-2007:


A New Contributor with an Experienced Voice

Please welcome Jamie C. Hodge, a new contributor to this blog, who will provide occasional commentary on the markets and his trades. I say occasional because Jamie is first and foremost a trader. His best nuggets of wisdom are usually not written but verbally delivered throughout the trading day. We'll try to capture that wisdom via transcribed quotes and email - we don't want the form to get in the way of function. I think you'll find Jamie's views a great, fresh insight into the trading experience.

Hodge's Cred

Mr. Jamie C. Hodge brings over 15 years of professional direct access trading and financial industry experience to Trade-Ideas.
Hi. I received my B.S. in Finance from Texas State University in 1992. I entered the brokerage space shortly thereafter earning my Series 7 exam and working on the sales side of the securities business.

In 1994 I founded the Avantus group, a NASDAQ order entry broker/dealer which primarily focused on retail stock business with an emphasis on catering to the high transaction individual.

In 1996 I saw a unique opportunity; I left the firm I helped start and became intimately involved in the first generation of direct access trading which focused on the inefficiencies of the Nasdaq Small Order Execution System (SOES) and the SelectNet (SNET) network. Becoming a successful trader, I was on the forefront of what was to become the direct access revolution. It's here that I contributed in proving feedback to the designers of the first commercially viable direct access software platform CyberTrader, acquired for $400 million by Schwab in 2000.

I continued to trade professionally on the NASDAQ until the SOES system was replaced with the Super Montage network in 2001. From 2002 until approximately the first quarter of 2007 my trading efforts were primarily focused on the listed markets.

Jamie recently was recruited to become the Director of Trader Education at Trade-Ideas where he continues to actively trade, develop new trading strategies and helps to educate the Trade-Ideas customer base on the nuances of combining best of breed analytics software with sophisticated market reading techniques.

Jamie is available anytime to schedule a personal one-on-one overview of Trade-Ideas, The Odds Maker, and/or techniques on strategy development, position management, or other area of trading. We've always made ourselves available to train anyone interested in our tools - with Jamie's help we can now serve a lot more customers.

Schedule a Trading Plan Tune-Up

Jamie's email is tradeideassupport@gmail.com or info@trade-ideas.com

Friday, May 18, 2007

Scottrade Makes a Splash with Online Ads

These Scottrade ads featuring Trade-Ideas are running on Yahoo Finance in high frequency. They look great. What results will we be able to see thanks to these marketing efforts?
  • Increased attendance at the next Scottrade User’s Summit in SF (scheduled sometime in September) - the last one was in Chicago
  • Increased positive feedback, emails, and support calls
  • Increased Trade-Ideas monthly utilization by Scottrade ELITE customers
All of which will positively reflect on Scottrade, their trading volume measures and their bottom line - not to mention a happy group of customers.

How is this Relevant to You?

The more people kicking our tires, the more traders asking/answering questions, posting their results, and adding to our ongoing conversation about using decision support tools to improve their trading - whether they are Scottrade ELITE traders or not.

Where are these conversations happening? Take a look at our blogroll, read the support questions we receive (in the section on the right in our blog), and attend the events at which we appear.



















Thursday, May 17, 2007

You Can’t Beat ‘Em, so Adapt and Trade That Way

An Early Instance of Man vs Machine Holds Lesson for Traders

Trade-Ideas is going automated! How can a human be expected to compete against a machine in an unfair competition? The legend of American pioneer John Henry foreshadowed a similar situation facing traders today.

John Henry’s reputation as the greatest "steel-driver" in the mid-18th century began during the push to extend the railroads across the mountains to the West. The complication of the story is that, as machine power continued to supplant brute muscle power (both animal and human), the owner of the railroad buys a steam-powered hammer to do the work of his army of manual labor. In a bid to save his job and the jobs of his men, John Henry challenges the inventor to a contest: John Henry versus the steam hammer – one of the first contests of man versus machine. John Henry wins, but in the process, he suffers a heart attack and dies.

That is the legend and in the end John Henry dies. In trading however many investors and professional traders continue to battle in John Henry fashion hoping that in the end they will beat the algorithmic machine. The movie, The Matrix, offers a cinematic modern day description of what’s happening: the machines, in the hands of more capitalized players, win and win big. Algorithmic trading continues to grow as a share of overall volume and in their sophistication. Market veteran Bob McDowall writes in his article, Algorithmic Trading: future business and technical developments:

“Hedge funds will continue to play a significant role in the development of algorithmic trading. They provide some 40–50% of the equities transaction volume on major US and European Exchanges, 70% of convertible bond volume and 80% of distressed debt volumes. They have lead the charge and are at the “bleeding edge” in deployment of algorithmic trading on the buy side of the business either directly or through the use of their Prime brokerage relationships. The proliferation of hedge funds means more competition amongst them. They have to differentiate themselves through the range and innovation their products and services, including their trading strategies.”

How do the rest stand a chance?

To beat a machine, use a machine – one designed to recognize trading patterns and determine for a trader how to trade it. However this isn’t a battle against the large institutions or more capitalized players, but rather a discovery as to which side to take when buyers and sellers clash.

When we launched The Odds Maker in January of 2007, we set our machines to help wo/man by revealing which combinations of alerts and filters in Trade-Ideas produced profitable trading results in the market, but what followed is sure to be the next boom in direct access trading.

Our customers worked with The Odds Maker. A small group of vocal group of traders in CA especially labored and tinkered with settings to create amazing algorithms that produced incredible win rates, average winning to losing trades, and net winnings. The problem was John Henry. At some point they realized that it was impossible for a man to quickly enter 15 orders in one minute (an effort The Odds Maker required in some cases to take the money out of the market). So our customers came to us and said can you automate it? Can you make me a maestro instead of a work horse? We thought about it and the answer was clear. We not only should it is our obligation. TradeStation and a few other firms have already been providing customers with automation, but it has been geared toward one stock technical analysis type trading. It has not been available relative to a strategy – across many stocks - in the way that Trade-Ideas is working on taking it to market.

So here we are in our labs working with a few direct access trading partners to bring the next generation of automated trading to life. Our customers will be able spend time after market working on the system and making sure the settings are right on their terms, taking their time creating. During market hours, the computers will be their workhorse and our customers will be able to put down the hammer and simply watch the fruit of their labor. More details will be explained at our 2nd Annual Customer Learning Curve Seminar at the San Diego Traders Expo

Friday, May 11, 2007

Add Some Fizz to 'Your Natural Thirst for Learning'

Thanks to Trader Mike for finding this excellent list of How to Fail As a Trader in 10 Easy Steps.

#4 should be #1:
4 Look for the right system [the Holy Grail]. Rather than gaining an understanding, search for the killer trading system - it is out there and it will make you rich beyond your wildest dreams! Take someone else’s system, seminar, etc. never waste your precious time in doing your own research. Don’t ask too many questions or push boundaries; crush your sense of wonderment and your natural
thirst for learning
.

Time is quickly passing as we make final preparations for the 2nd Annual Learning Curve Seminar (LCS) at the San Diego Traders Expo. This year much of our programming is free as part of the Traders Expo - a great opportunity to do your own research and get a tan!

Only a few weeks are left to register for a special event that promises the chance to learn from others successful with The Odds Maker and Trade-Ideas PRO, shape the development of a leading edge tool, and network like crazy to meet new, interesting contacts.

The 2nd Annual Learning Curve Seminar free (as part of the Traders Expo) and fee-based content:
  • Expert panels
  • 3 days of networking
  • Practical advisory sessions
  • Traders who share what works best in Trade-Ideas
  • Trading techniques using Trade-Ideas that level the playing field against specialists, institutions, more capitalized traders
  • Steps on how to model strategies from articles, speakers, and inspiration and separate the what's good from the snake oil

Register here: http://www.trade-ideas.com/Seminar/

Email: heather@trade-ideas.com with any questions or

Contact Us

The 411:

The latest updates on any changes will be here first

Agenda details, registration and the event schedule are here

Let us know you are coming!

Tuesday, May 08, 2007

A Showcase of Technology & Education: DTI's Open House with Trade-Ideas

Tom Busby, a gentlemen so genuine they could name a beer after him, invites Trade-Ideas to present an interactive presentation and discussion with potential and existing customers of his firm, DTI Trader.com this Wednesday (tomorrow). I want to give you the heads up that it is free to attend and participate in the online, interactive presentation.

You'll be exposed to one way a successful firm combines the use of technology tools into their educational trading curriculum.

In Tom's own words . . .
As a trader who survived the Crash of 1987, I can tell you that trading is not easy, but with the right tools you can master the Art of Trading in the stock, futures and options markets. One of the most important tools a trader can have in his arsenal is an understanding of the global markets with an analytical tool to help answer the question: Long, Short or Out of the market.

I have invited industry expert Trade-Ideas into my TradeRoom this Wednesday, May 9th starting at 10:30am CT. They will demonstrate their software and how it can help you increase your odds of success in the markets. Register for this FREE online session and receive the First Chapter of my best selling book, "Winning the Daytrading Game".

More About Trade-Ideas.
There are over 8000 stocks traded on the US exchanges. During market hours any one of them can be in the midst of an opportunistic “Set Up” for the astute trader. How does a trader find the ones outside a watch list? The solution is to dig through the mountains of tick data to see these opportunities as they happen. This task, however, is impossible without the use of sophisticated analytics technology. Fortunately the same advancements that make it possible for us to view all of the data have made it possible to analyze this information in real-time.

Trade-Ideas’ analytics servers are connected to the markets watching every tick, of every trade, on every single stock. Trade-Ideas’ Idea Generation Technology (IGT) knows what does or does not constitute unusual activity for a particular stock. Anytime something interesting or unusual happens, Trade-Ideas reports the information to subscribers in real-time. Instead of spending time searching for opportunities or waiting for them to develop within a list of watched stocks, Trade-Ideas allows traders to receive qualified, pre-determined set-ups that match their trading preferences. The benefits are improved trade performance, managed risk, and better time management.

Trade-Ideas permits users to customize real-time scans for various types of price, volume, and chart pattern activity. Since launching in 2002, Trade-Ideas servers over 21,000 customers in 45 different countries world-wide.

Register now and get started on the road to success in the markets! (free)

Committed to Your Success,

Tom Busby

Tuesday, May 01, 2007

Online Trading Journals: This Innovator Tells You How He Lives to Trade Another Day

An online trading journal is like a CSI team picking apart your trading crime scene. When maintained and reviewed it gets easy to spot what works and what doesn't.

Even more important are the correlations you can spot as to reasons why trading results fail to live up to expectations. For example a trading journal points to a string of bad trades - all made during the 2 second hour of trading. The investigation focuses easily on some diagnostic questions: What's happening in the second hour? What are the emotions felt as the market attempts to set a pattern for the day? When's the mid-morning bathroom break? All sort of questions can point to corrective measures including the conclusion to simply not trade and call it a personal trading 'dead zone'.

The TraderInterviews.com recently chatted with Dave Mabe, the founder of the online trading journal site, StockTickr.com.

In the conversation with Tim Bourquin Dave mentions several tools he uses to make the trades that feeds his trading journal. They include: TraderMike, the Chairman, and High Chart Patterns, and oh hey, Trade-Ideas too.

The 20 minute conversation provides the white gloves and swabs you'll need to track down your trading plan killers.

Trader Profile: Dave Mabe of StockTickr.com