Scott’s Journal

[ScottMcNab]

Switched to S&P500 only 1 week after went live sorry

[ScottMcNab]

I’m now getting tempted to stop using this journal as an accurate reflection of my journey …made another error…when calculating position size for batchtrader order for ASX this morning forgot to change currency in tools/preferences 😳

[TrentRothall]

maybe you need a checklist before you submit your orders

[ScottMcNab]

Yep. Good idea. I didn’t explain that well. It didn’t impact the number of shares I actually bought but it did mean I had a discrepancy between the shares bought and the number shown in the backtest which I was comparing results against to check for errors.

[JulianCohen]

Scott McNab wrote:

I’m now getting tempted to stop using this journal as an accurate reflection of my journey …made another error…when calculating position size for batchtrader order for ASX this morning forgot to change currency in tools/preferences 😳

If I may, don’t do that. It’s good for everyone to see what mistakes can be made. I’m not saying you are making loads of them, I’m just saying that recording them is good for everyone to see and make note of. I’m doing it in my journal and I make loads of schoolboy errors.

Also making mistakes is part of it. As long as you don’t make the same mistake twice. Learning from your errors is the fastest way to learn. Hopefully they don’t cost you too much in the process.

[SaidBitar]

Julian Cohen wrote:

Scott have you run into issues with margin on the Russell stocks yet? I was literally just discussing this with Nick so seeing as you are trading the Russell thought I’d ask you.

I have the problem from time to time on S&P1500 since some stocks they don’t have 50% margin (so you end up buying with 100%)
and when you place the trades you receive error / orders are cancelled due to
Broker -> Error -> Id=[3477], ErrorCode=[202], Message=[Order Canceled – reason:Your order is not accepted because your Equity with Loan Value of [X USD] is insufficient to cover the Initial Margin requirement of [Y USD]]

Y > X

[SaidBitar]

Scott McNab wrote:

Japan seems to have some pros as an alternative to asx….liquidity, commission and orders types…if only can convince guys at PDU…alternatively may paper trade it for a bit using data from another supplier…just toying with idea but will probably look into further…again would value any advice/feedback from others who have had similar thoughts…the MOC system I am trading live in US and ASX does sig better in US due to more opportunities and lower commission (commission equates to about 10% of profits in US and almost 50% in ASX)…if could get it to work overnight in US and during day in JPN then may be improved return for no extra risk

I thought about it once for diversification reason but to be honest never thought about Japan i was thinking about London SE
but the problem is finding the same quality data as norgate

CSI provide most of the exchanges and they provide the delisted data not sure if they provide index constituents
csidata

[ChrisVirides]

Quote:

If I may, don’t do that. It’s good for everyone to see what mistakes can be made. I’m not saying you are making loads of them, I’m just saying that recording them is good for everyone to see and make note of. I’m doing it in my journal and I make loads of schoolboy errors.

Also making mistakes is part of it. As long as you don’t make the same mistake twice. Learning from your errors is the fastest way to learn. Hopefully they don’t cost you too much in the process.

+1

[ScottMcNab]

I have been trialling MOC system on ASX by setting the time to sell positions at mkt at 3:59pm but from what I was just reading it seems that I can place it any time after 4pm and before 4.10pm and become part of the closing auction ?

https://www.rivkin.com.au/blog/shares/2014/12/23/understanding-the-asx-opening-and-closing-auctions-24222.aspx

[ScottMcNab]

I thought about it once for diversification reason but to be honest never thought about Japan i was thinking about London SE
but the problem is finding the same quality data as norgate

CSI provide most of the exchanges and they provide the delisted data not sure if they provide index constituents
csidata[/quote]

I am looking for a large liquid market that is open when US is closed so can work equity around the clock….and with MOC orders if possible.Just saw Nick’s post re Bohdi so will look into that

[ScottMcNab]

Julian Cohen wrote:

Scott McNab wrote:

I’m now getting tempted to stop using this journal as an accurate reflection of my journey …made another error…when calculating position size for batchtrader order for ASX this morning forgot to change currency in tools/preferences 😳

If I may, don’t do that. It’s good for everyone to see what mistakes can be made. I’m not saying you are making loads of them, I’m just saying that recording them is good for everyone to see and make note of. I’m doing it in my journal and I make loads of schoolboy errors.

Also making mistakes is part of it. As long as you don’t make the same mistake twice. Learning from your errors is the fastest way to learn. Hopefully they don’t cost you too much in the process.

I have been doing it for two reasons….first is it makes me work harder (shame file!) and it also may stop people coming in to the course repeating the mistake.

See one, do one, teach one !

[Nick Radge]

Quote:

I have been trialling MOC system on ASX by setting the time to sell positions at mkt at 3:59pm but from what I was just reading it seems that I can place it any time after 4pm and before 4.10pm and become part of the closing auction ?

http://www.rivkin.com.au/blog/shares/2014/12/23…-auctions-24222.aspx

I’m quite sure I have answered this on at least 7 occasions…

You cannot place a MARKET order in either the opening or closing auction. It must be a LIMIT order. It MUST be after 4:00PM and before 4:10PM

[ScottMcNab]

Mkt order worked fine…all positions closed at closing price in agreeent with Amibroker…wierd ?

[ScottMcNab]

I have asked Levente to design a new version of BatchTrader for MOC systems that would also work with ASX and he suggested running it through this forum to see if anyone else would be interested (the more people then the less each person will pay). I have requested the following options be added into preferences:

1.Time to cancel entry
A box similar to current in which user inserts time he/she wishes to cancel all oustanding buy limit orders (eg 15:40)

2. A drop down menu for user to select type of sell order:
mkt
moc
limit
If limit is selected then two other fields then become available;
first: a drop down menu in which user selects either “buy limit price” or “last TWS price” (this is what BatchTrader will use as a starting price from which to calculate the sell limit price)
second: a box in which user enters the change from the above mentioned reference price Batchtrader also needs to calculate sell limit price….entry is in % and is preceded by a “+” or “-” sign…..eg -5% would mean the sell limit price that BatchTrader calculates is 5% less than either the buy limit price used to buy the stock initially or 5% less than the last TWS price (not sure yet if that would require a live feed or if the api can pull the last traded price from TWS even if using delayed data)

3. Time for Batchtrader to send sell order to TWS
for a MOC order is US then may select 15:50
for a sell limit order on ASX to participate is CSPA in may be 16:02

If anyone else is interested in this API for the ASX or has thoughts on how it could be changed both Levente and I would like feedback please.

[Anonymous]

Scott McNab wrote:

If anyone else is interested in this API for the ASX…

hi scott yes im interested.

i was also thinking about the possibility of a limit order that gets out at a target of x% above the entry price but places a MOC/MKT at end of day if the target is not reached.

[Author]

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