Just to recap:
- I signed up for my free trial subscription to sfomag.com and am checking out the sight now.
- Reading the tape at SMB. I believe this is the "Market Depth" feature on IB and I've been watching it for the past couple weeks trying to understand what I'm seeing and how to intrepret that information. Maybe we can cover this on skype some time soon?
- I didn't mention it but I am consider attending a 1-day workshop (just depends on the cost) for stockmarketmentor.com in Vegas on Oct. 3rd. This site has definitely taught me most of my technical analysis and I can attest to it's educational as well as financially beneficial value. If anyone else is interested please let me know. Dan Fritzpatrick who runs the site will be hosting this 8-4:30 workshop covering the following curriculum:
- Curriculum: This is an intense workshop for those who are serious about getting serious with your trading. This is not a basic workshop for newbies! (I'll teach one of those early 2010)
- Students will learn how to prepare for and trade the "opening rotation" using techniques that can enable you to make more money before you go to work than you are likely to make at your regular job.
- Am I teaching you secret formulas and methods that no one knows about? No! Those don't work because they don't exist! That's the fallacy of trading. There is nothing new under the sun (and no one else will tell you this!)
- I will be revealing trading methods that few traders know about, and even fewer use. You'll learn the tactics and techniques of professional desk traders who regularly steal money from the amateurs before going out to breakfast on your dime! I will put you into the game with the tools you need to switch teams! To take you from "amateur" to "pro."
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- Wall Street Warriors on Hulu:
http://www.hulu.com/wall-street-warriors
Just wanted to post what was sent via email in response to the post...
ReplyDeleteDon't think Dom received this...
The market depth shows the ticket orders or the tape... I believe. I'm new to this so I need to learn how to read. I actually saw this on one of the SMB recordings and was intrigued to hear how the trader was using it. I'm researching it right now.
http://individuals.interactivebrokers.com/en/software/tws/usersguidebook/specializedorderentry/the_market_depth_window.htm
The details (mainly the cost) of the SMM workshop should be released early this week so I'll let you know. I don't plan on staying up there leaning more towards a drive up and down.
Ditto. I told Dom and I think I told you the whole reason I went to the MBA program was to find people who would help me down my trading equities path. Now that you've helped me get started with options, IB and brought our lil community together. Dom's really helped point me in the right direction with his SMB experience and turned me on to day trading. I feel really inspired to be on the way. So appreciations all the way around.
all
Mark: I haven't even checked what all IB has to offer. How do I find the "market depth" that you speak of? Let me know the cost of the Oct. 3 workshop. If it's not absurd I would probably go.
Dom: I must have missed a conversation about the CSUF options course. Are you going to be taking it this semester?
Just some miscellaneous thoughts. Other than my Dad, you two and my other options friend in Texas are the only people who all have similar traits. They are simple traits, like don't spend money you don't have, plan for the future, have a future path for your life in the pipeline, even if it doesn't work out. The reason I don't have much of a social life is all my old friends are retards. They don't plan any further than where they are drinking after they get off their miserable job. They all say things like "I wish I could do that," rather than actually trying. We all have another thing in common, the recession that has fucked up most people's lives isn't affecting us very dramatically. We all save for a rainy day and know times will not always be good. I guess I'm just trying to say I'm glad I know you guys. Just another reason I need to get out of the house and fine a career environment with other successful people.
Yes I had a great time meeting up with you guys as well. I am very pleased with the environment that we are creating. I think we can all add a lot of value to each others trading and analysis. Especially as we move forward and take our trading to the next level.
ReplyDeleteMark: "Market Depth" is similar but it is not as detailed as what you see in Lightspeed. If you go to the following link : http://journeytoprofessionaltrader.blogspot.com/2009/06/main-trading-screen.html, this will take you to a post that I put on my blog that I have since abandoned as I prefer this one. But I have outlined what is in the level 2 market maker box, which includes the prints (left side of the market maker box) or "tape", the inside market, and the underlying bids, the overlying offers, as well as the bid and ask sizes and from which ECN they are coming from. If you have any questions just let me know.
Also the 1-day workshop sounds interesting, as Jason asked let me know what the price is.
Lastly you asked about the condo's for sale by me. If you follow this link: http://www.redfin.com/CA/Temecula/31236-Taylor-Ln-92592/home/8172129. This will take you to my condo listing and if you scroll down you will find the listings of the condo's for sale in my complex. Hope this helps. If you ever want to come down to see one you are more than welcome to stay the night with my girlfriend and I. We have a spare bedroom. Or if you just want to chill for a while. Same to you Jason. We also have good wine tasting here with all the wineries.
Jason: Yes Mark and I disccussed the options course at CSUF after you left. I was telling him that I am thinking about sitting in on an options course at CSUF. It is a course that I always wanted to take but could never fit into my schedule. I have a buddy who took it and said that the professor is an options trader who trades 2 w million dollar accounts of his own and he uses his own positions as examples in the class. He encourges his students to open up accounts to practice what they learn.
But I also hear that it is a lot on options pricing theory and the math behind options. But it covers a lot of other stuff as well.
I don't plan to actually enroll in the class, I was just going to sit in on the class.
Here is the description of the class: Put and call options, option pricing theory and models. Financial futures pricing, hedging strategies and models. Institutional characteristics of futures trading. Options and futures on stock indices. Options on futures, theoretical relationship between options and futures.
There are to available classes, either Mon/Wed at 2:30-3:45 or Mon/Wed from 5:30-6:45.
Let me know if you guys are interested.
Talk to you guys later. The other thing that I have thought about is if the three of us get to a position that maybe we want to do the satellite office thing for SMB from Sunny So Cal. Just a thought.
The options teacher at CSUF sounds like a better class than what I had. My undergrad options elective didn't teach me anything I didn't already know. He is a broker who basically just sells covered calls for his clients. He did not go in to theory or pricing. And in fact, that class wasn't just an options class. I think maybe the last 4 weeks was options.
ReplyDeleteMy MBA options elective class, that guy was nuts. He went way too far in to pricing and the some crazy calculations that you don't need to know anymore because Excel does them for you. Unless I was some sort of advanced trading where I needed to know that, I don't see how it applies to trading in general.
I doubt I would have time to sit in on the CSUF class, but maybe we should get that guy and all of us take him to lunch or dinner and just ask a million questions. I would love to talk to somebody trading his own personal million dollar account. I want to be him one day. At $500,000 I would be done and not working for anybody. I would write covered calls on dividend paying stocks and be happy. I might still work and do something that brings in money, but that would be a bonus and I would only do something I loved. I think the more people we talk to the better.