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Webinar: Live Day Trading the E-MICROS w/Ilan @ Cannon Trading
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,391
Thanks Received: 10,208
I think that's a little harsh. He might have gone to the website 5 or 6 times in the whole presentation, 2 of which were in response to questions and a 3rd was to talk about isystems. While everybody hopes that they learn something valuable from a webinar like this, you have to acknowledge that the motivation for the presenter is obviously brand promotion.
This isn't my style of trading, but I decided to watch, given that it was live, and not revisionist history like so many others. Hence I was disappointed when Ilan acknowledged it was just sim! While I wasn't a huge fan of the 'live trading' I did think that during the commentary Ilan made several very good points that newer traders would be good to pay attention to.
One take away I did have is that Sierra Chart looks terribly slow. What happened with the failed CL chart 2 or 3 times in a row? Was that Sierra Chart, Data Issues, or User Error? That would be extremely concerning for me!
Sierra Charts is very responsive and fast charting application. Don't know what his connection was nor computer specs. Sierra takes little computer resources.
I run multiple chartbooks with futures and short term charts with each symbol. CPU Usage shows less than 20% most of the time
BTW, Sierra is converting fully from a 32-bit to a 64-bit Application very soon, could be next few weeks.
What I see happening was... Ilan was loading in a continuous contract of CL and the settings for the chart defaulted to 4380 days, about 15 years worth. The data then starts downloading from the Sierra historical data web service.
In the squished-down log window, you can see the platform opens a TCP connection for every month in the range of years, starting at the oldest contract month in the range. For each month it downloads the daily data for the entire contract month, then shuts down the TCP connection, rinse and repeat for 15 years (ok not literally!)
Then a second attempt was made to load a chart, this time it was starting with a ES "intraday chart" in Sierra-speak, and modifying the symbol within the settings to a CL continuous contract -- but this time it defaulted to display 30 days of daily bars. This was generated a download request for the last two months of CL, in order to be sewn together by the platform into continuous. This request was queued behind the previous 15 years download, which had not yet finished.
It's nice to have that many years of data available from Sierra, of course. To me it is understandable with a platform that is so eminently configurable, live or not, this kind of delay could happen.
I have to say I thought that Ilan kept his presentation moving along very well, despite this issue.
I haven't viewed the video yet, so probably I shouldn't comment here, but I will say that Sierra Chart has always been very slow in loading data into new charts. I have no idea why, and it is the one thing about SC that I have the most problem with. This is only something that happens in the morning, when I fire it up.
However, once a chart it loaded up, Sierra Chart is amazingly fast, no matter how many charts, windows or background tasks (indicators) it may be running. It simply shrugs them off.
So I live with the slow chart-loading times. Once the chart it up, there's no issue.
To answer re the sierra chart, it was my fault as I have sierra working with multiple data feeds ( GAIN, transact, CQG, Rithmic) and I was using the wrong symbol in the case of crude oil. I personally think sierra is great and very fast.
Also keep in mind my PC had CQG, sierra along with the gotowebinar running....
in regards to HFT, yes as an IIB we can actually negotiate better rates for certain HFT clients because of our overall cumulative volume we do as a firm and that allows us to compete for that business as well. and actually choose from a few diff. options.
Good trading and thanks again for the objective comments!
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.