1) Tool Tuesday - Some tools others have built I'd like to share that are geared towards traders.
Short thread 🧵👇
1st is @bookmap_pro. The depth charts are top tier but 1 feature I want to highlight is Multibook. Resting liquidity from multiple exchanges are shown on 1 chart
2) Pandas for dataframes. Most basic stats, RTD, APIs I've run on trading data has been done in Excel. While I still use it I'm finding myself use Pandas more.
This is a Jupyter notebook in VS Code. I call for FTX market data, filter what I need, use data, and it's free.
3) Notion. Okay some of you keep seeing me talk about Notion and still haven't looked or tried it.
For me what started as a place to store trading setups, became: business backend, website, life mgmt, recipes, tasks, notes, database, the list goes on.
DM me I'll send template
4) A news squawk service.
As @Trading_Balance discusses in this thread there are multiple to choose from, but without any squawk it's hard not to feel clueless when your trading and something (not) scheduled hits the tape and we don't know what it was.
6) This isn't new to you most likely, but Tweedeck for Twitter.
Here's how I use it:
- see all tweets with exact phrases
- create private list of specific users
- lists for macro news
- follow a hashtag
- check feed and messages
I feel naked without it.
7) The scanner tool that @tradingview offers. The filters available on TradingView are pretty extensive.
It's nice they can be applied to many markets and exchanges, instead of just US stocks.
10) I offer some of my own tools for traders, they can be found on my Gumroad page. This includes a Free Notion template and Free Sierra Chart chartbooks/studies.
Nearly any combination of charts and studies can be combined to create the ideal workspace for trading in Sierra Chart. Some people use 1 chart, some use 20.
In this thread, I'm going step by step build a prop style workspace with a DOM, footprint, depth chart, and more.
🧵
Firstly, I can't deep dive into all settings. This is a general guide. I do however have more in-depth guides for charts found in this example in my master thread, where I have poured hours and hours into free material:
Let's build: Footprint with delta table, TPO with volume profile, DOM with volume profile, candlestick with key levels, market depth chart, time and sales.
You will need Service Package 5 or higher available from the Sierra Chart website.
I have thousands of hours using Sierra Chart, and I'm going to share a few banger adjustments I've picked up along the way.
Are they going to make us rich or tell us where to buy? No, but I'm sure even experienced SC users will find a nugget in the thread below 🧵
First, is keeping order lines in the right margin. No numbers get blocked, it's easy to cancel, easy to drag and drop, and with multiple orders it's simply a cleaner look.
To adjust:
SC Menu: Chart > Chart Settings > Trading > Trade Drawings Left Align % : Try 30
Next is purposefully coloring the Trade Window an odd color to easily identify between Live and Sim account. Most of us have mixed this up at some point.
If my trade window is Purple, I KNOW I'm on sim.
In trading once the trade is done there are no take backs and no refunds. There is however the ability to replay the moment.
While you are sleeping peacefully at night, your competition can often be found reviewing and replaying.
This thread shows exactly how to do it 🧵
Begin by opening either a chart or chartbook in Sierra Chart. We can replay 1 chart or multiple at once.
If trading during the replay, I'll Click to select a chart > SC Menu: Chart > Chart Settings > Trading > Always Simulate Bid and Ask Prices During Replay: Yes (Optional)
In the Data Limiting menu of the same Chart Settings window, set Days to Load as many as you need for the replay. If it's set to 3 days and you try to replay 15 days ago, it won't work. Press OK.
I'll make sure my account is SIM, data Disconnected, and trading is unlocked.
So you have a systematic idea you want to back test or forward test using automation, but have no idea where to start.
In this thread, I'll walk through the exact steps to loosely test these ideas. 🧵
What's covered:
- Basic autotrader setup
- Add a signal, Long only, on bar close
- Run the test
- Review results
None of this is advice, this is purely entertainment. Written for intermediate+ users, not beginners. Past results not indicative of future results. For testing only.
- In a new Sierra Chart chartbook, add a lower timeframe chart
- Simulation mode is ON, trading is UNLOCKED, SC Menu: Trade >> Auto Trading Enabled Global and Chart are both checked
- Add any studies you'll need for a signal, we'll call this study 1
Even if my charting needs are demanding one way I’m ensuring ultra high performance is splitting the processing load across copies or instances of Sierra Chart.
Sharing exactly how I do it in the thread below 🧵
In this thread:
- The what and why behind multiple instances or copies
- Setting up multiple instances or copies
Perform backups before starting, read documentation, and know this is entertainment and educational, don’t blindly trust my posts.
The what and why: If a trader requires many charts open at once on any trading software, it can lower performance compared to say, 1 open chart. Traders with chart or study heavy workspaces often split up the processing load using multiple copies.