A repository of information that records ideas, strategies, news, & updates. Our hope is everyone can learn and profit from the ideas and comments shared. Enjoy!
Some of you may know that last year we launched MarketDelta Trader. Since then we have been busy integrating it with MarketDelta Charts so that the real time data flowing into MarketDelta Trader could also be used to power MD Charts as well. If you use MD Charts here are the direct benefits.
COST SAVINGS – Using both Trader and Charts creates a direct data cost savings. The reason is MD Charts will use the broker provided data from Trader eliminating real time data feed costs and Exchange fees.
POWERFUL INTEGRATED TRADING - Trade from the patented static price ladder (DOM) with a single click and have all your trades instantly show up on your chart!
CONVENIENT CHART TRADING - Trade from the chart using buttons and see your orders on the chart and on the DOM. Manage the trades from either location.
EAST TO SETUP BRACKET ORDERS - Yea! Finally…you can now implement brackets (and more) using MD Charts when using Trader.
AUTOMATE YOUR TRADE IDEAS - Create simple or advanced trading systems using the powerful analytics and unique indicators built into Charts. Charts does the signaling and Trader does the routing and bracket management.
GROWING LIST OF VENDORS – Trader currently support the OEC and CQG order routing systems and will soon support Zenfire and Rithmic! Stay tuned.
NO TT FEES - No extra TT fees for using our static price ladder. Everything is included with MD.
HISTORICAL DATA - Most brokers don’t provide historical data but we have a very affordable add-on to your MarketDelta Charts subscription that provides the same quality and depth of historical data seen in our other supported feeds.
Login to www.marketdelta.com, click Software Keys, and there will be an option to get a trial to Charts if you haven’t received one. Choose MarketDelta Trader as the data service. If you have already had a trial, a subscribe button will be presented.
I need both MarketDelta Trader and Charts
Visit http://info.marketdelta.com/trial.html and specify MarketDelta Trader as the data service. Unless you already use on of the support brokers, you will also need to contact one of the and request a demo login for “MarketDelta”.
The Footprint chart is a fascinating tool for studying market activity, momentum, order flow, and where buyers and sellers are interacting.
No other charting method offers the immediate transparency of the energies at work in the marketplace.
It demystifies the market’s order flow so you can quickly identify shifts in sentiment.
Here are some examples of common rotational patterns that occur every day in the financial markets. You can use the Footprint to confirm support and resistance levels or to monitor when the natural auction activity has exhausted in one direction and begins fresh in a new direction.
You can also use the bid ask Footprint to identify where traders are stuck long or short. This is evident because of the large volume prints on the bid or at the ask at swing highs or swing lows.
These examples are of the E-Mini S&P 500 Futures contract, but they apply to any auction market, including currency futures, other indexes, stocks or any financial instrument that trades in an open market.
We are proud to be rolling out some significant improvements to MarketDelta Trader that will make trading easier, faster, and more flexible. The enhancements come as a result of all your feedback, so thank you all for that!
The most significant enhancement is the inclusion of various TT patented functionality. We have signed a global, entire patent portfolio agreement with Trading Technologies International which allows us to implement best of breed functionality and deliver a cutting edge trading interface along with our integrated Footprint chart. Best of all, the TT patent licensing comes at no extra cost to you.
Please watch the short video below to see everything that has changed and to understand the benefits of the improvements.
SUMMARY OF IMPROVEMENTS
We have licensed Trading Technologies International entire patent portfolio to incorporate industry standard features like the static price ladder, features for easier order entry, and more.
Ability to quickly hide and un-hide the Footprint chart.
Rearranged the Footprint type buttons for quicker access.
Removed BuyMKT and SellMKT buttons and now allow for placing of market orders by clicking into the buy and sell columns.
Quickly buy or sell using a single click of the mouse.
Single left click places limit; Right click places stop order.
There are now separate buy column and sell columns for depth of market.
Single click cancel.
“Sweep the book” functionality by clicking into the market and placing a limit order that sweeps up to a certain price.
Color shading changes for buy and sell columns.
Hi and low of the day shown on price scale.
Order tool tips to show what type of action will occur upon clicking.
HOW TO UPGRADE
Follow the instructions below based upon the order routing system used. If unsure which system you use, find your broker on this page and see which system they use.
OEC
Download MarketDelta Trader 2.0 by logging into www.marketdelta.com and click “Downloads”.
Install the software, being careful to select OEC as the order routing system.
Use your Trader license key (shown by clicking Software Keys after logging into website).
This installs MarketDelta Trader 2.0. Version 1 will still be installed and usable for another few months before being retired. Uninstall version 1 at any time.
Recently a client asked if a chart could be created that would show him multi-time frame naked point of controls on a single chart. This is entirely possible with MarketDelta and is shown below.
This chart was thrown together rather quickly and could use some polish but it does show a simple 30 minute bar chart with the naked POC in blue, a magenta daily volume hologram with the daily naked POC extended in magenta, and the monthly volume hologram in dark gray with the monthly naked POC extend in dark gray.
The chart was constructed using the Profile Indicator and applied 3 separate times and colored accordingly.
To learn more about what a naked POC is see this blog post.
Click here to download the chart definition for this example.
We are often asked what are the most used charts and indicators in MarketDelta, so here is a handy list for you to quickly refer to and learn from at your leisure. To add the indicators in this list to a chart right click on the chart, choose Add/Edit, Add Technical Indicator or simply press the Insert key. Video tutorial here.
Footprint Bar Statistics (FPBS) - these are the Footprint stats like volume, delta, and cumulative delta at the bottom of charts. Watch video here.
Footprint Price Statistics (FPPS) - these are the Footprint stats shown vertically along the price scale. It shows the profile and delta along the side of the chart. Watch video here.
Inter-market Divergence – provided to trading room members for free.
Another very useful, often overlooked shortcut is using the mouse scroll wheel to zoom in and out on Footprints and candles/bars. Watch this 30 second video.
Today we released MarketDelta Charts 11.1. To update click Help from the menu and choose Check for Updates or visit www.marketdelta.com, login, and then click Downloads. Please be sure to close the software prior to updating.
Version 11 is our largest update in a long time. It has a totally overhauled menu system that replaces the old file menu system. The old system had become heavily bloated with menus and options that simply needed to be eliminated or moved somewhere else…so we did just that! The end result is the file menu is now 70% smaller and much faster to find and open objects.
What has made the user interface update possible is Object Manager. Think of Object Manager as your launch pad for just about everything now. It is easy to navigate, search, and can be left open (if you want) for quick access to charts lists, etc. Watch the video below for a short overview of this and other important changes.
Here are what we feel are the top 3 enhancements of most benefit to you.
Greatly Simplified Menu System – Makes the software easier to learn and quicker to navigate.
New Object Manger – Serves as a launch pad for all the common things within MarketDelta.
Database Restore Points – This allows you to “snapshot” the database and easily revert back.
For a complete list of enhancements and new features in version 11 see the Release Notes or click Help | What’s New in MarketDelta.
Thanks to all who participated in the beta testing this new release. Your feedback was very meaningful and we sincerely appreciate it. Please contact support with any questions.
There is no disputing it. Today’s traders are more savvy and more competitive than ever and the right tools for the job are absolutely necessary. You need to be a lot smarter and more capable on how to identify trading opportunities and more discerning on the trades you take. Executing trades requires confidence in yourself and that only comes by trusting in yourself to do the right thing.
We recognize this and have organized a special event this Spring that will allow for deeper learning, hands on experience, and take home materials to help you achieve your goals as a trader.
Highlights include:
Live Entertainment – Thursday evening
Live Trading
Order flow concepts and exercises
Educational Handbook
MarketFinder – self assessment program
Correlation Matrix – learn and gain insight
1 on 1 Follow-up post event
There is an early bird discount, so for more information or to register visit here or call 1-877-906-2692 or 1-312-922-7800.
These events also serve as great networking opportunities with other like-minded traders.
Posted in User Tips by adrager on January 25, 2013
I use to think I did this to make money, I don’t. I do it to be right. Trading for over a decade has
taught me that being human doesn’t bode well to being a successful trader. As humans we all
want to be right, those who can’t accept the notion that it’s OK to be wrong, especially in this
business, never achieve consistent success.
Trading is one of the few industries where you can be wrong a lot and still be profitable. One
analogy I use is this….
…..trading is like going to the racetrack where people are jumping up and down, with a ticket
in hand, watching horses run around in a circle. Why? Why are they so excited? I’ll give you
two reasons, they have a chance to take money but more importantly they have a chance to
be right. Think about it, it’s the same two powerful emotions we feel when we have a trade on.
The only difference is once you bet on a horse your decision-making process is over, you let the
horses run their race. However, once you place a trade most of the time your decisions have
just begun. Yet you’re in the same state of mind as the guy with money on Seabiscuit in the
3rd. What do you think those excited bettors at the track would tell you if you asked…Hey, I’m
short 10 S&P’s and its 5 handles against me, what should I do? They would probably tell you to
sell 10 more!!!
I’ve come to grips a long time ago to the reality of how poor emotionally influenced decisions
are. Having a trading plan is easy, sticking to it on the fly is the tough part. If you strip out the
element of surprise, you strip out emotion. Expect all possible outcomes, BEFORE you execute.
Here’s a novel idea…know where you’re getting out of a trade before you get in it. I have a
saying written on a white board in my office…”If you expect a trade can go against you and it
does you’re not surprised and if you’re not surprised your not emotional.” Being wrong is OK!
You have to manage the heck out of your risk but you have to take risk first. Good Luck!
Posted in Uncategorized by adrager on January 23, 2013
Given the hype leading up to Super Bowl XLVII, got me thinking of a great analogy. As many
of the Trading Room Members know I’m a relationship guy, using comparing and contrasting
techniques to value price of all the markets I trade. During the playoffs I began to compare
scoring in football, to a winning trade in trading.
So often when we exit a profitable trade we allow certain emotions to make us feel like it’s our
money; put it in the bank and it will be there forever. While technically it is, in this business
it must be used as more “bullets” in your gun. What I mean by that is when the 49ers score
a touchdown they won’t shut down and expect their defense to pitch a shutout the rest of the
game. They will try to pile on the points while sticking to the game plan, with the expectation
that their opponent is going to score.
So the analogy goes like this; when a football team scores, it’s like taking a profit on a winning
trade. However, when their opponent comes back and scores it’s like taking a loss on a trade.
No great team lays down after a score, just like no great trader becomes too satisfied after a
winner, or even a few winners. Both stick to their strategies, their game plan, measure their risk
and TAKE ACTION.
No football teams defense will shut down an opponent forever. Allowing points is part of the
game, just like losing trades are a part of trading. Professionals don’t stop trading during the
game just because they’re up money. Nor, do they lay down when they have taken a couple
of losers within their game plan. Remember, a perfect trading record doesn’t exist just like a
perfect defense doesn’t exist. Expect to lose sometimes, it’s part of the game. Of course it
helps when you know what you’re doing.
The new normal trading hours for the full session (Globex) will now run from 5PM CT to 4:15PM CT instead of the 3:30PM to 3:15PM hours. There will be a market pause from 3:15PM to 3:30PM CT.
Within MarketDelta, Session 31 has generally been used to provide these Globex hours. The trading hours change will require users to adjust the times of session 31 accordingly this weekend. The day session, Session 2, will NOT be effected.
This being the case, there is a side effect to the overnight historical data that users should be aware of. When a user changes his Session 31 times from 3:30PM – 3:15PM CT to 5PM – 4:15PM CT, then all historical data is going to be forced into this new time frame. So the past data from 4:15PM to 5PM CT will no longer be present in the Session 31 charts. However, that was an extremely thin period of trading. Also, the data from 3:30PM to 4:15PM CT, which in the past opened Session 31 (first 45 minutes of trading), will now close session 31 (last 45 minutes of trading). Again, this is a thin period of trading, but it will affect the last traded price and first traded price of Session 31.
Our recommendation would be to change the Session 31 to 5PM to 4:15PM CT (adjust accordingly for your time zone). All other sessions remain unchanged.
Instructions
To adjust your session, go to “Setup | Preferences | Sessions” from the main menu, choose Session 31 from the list on the left. Adjust the Start and Stop Times accordingly (if you have Post Time checked, change to 1 minute past the Session Stop time). Times should be 5PM to 4:15PM CT adjusted accordingly to your time zone. Then Click the OK button. You will see all charts set to Session 31 adjust instantly to these times.
