I have several newbie questions about JBookTrader. I also am a computer programmer so I understand code without any problem.
(1) Is JBookTrader designed for a day trader wanting to trade on the NYSE or NASDAQ? The reason I ask is most of the discussions here revolve around trading futures and I was wondering if this program was even meant for things other than futures? (2) Is JBookTrader designed for momentum scalping (also known as trend/breakout trading)? I'll explain what I mean. I'm unfamiliar with some of the terminology you use and I think that is causing me some confusion. So I want to lay out a scenario using the terminology I understand and you can point out if I'm totally off base here. The scenario is the following: suppose a stock (I'll use Amazon.com, Inc. (symbol AMZN) over a 20 minute period goes into a consolidation mode. By consolidation mode I mean the stock over that 20 minute period (the period can be longer or shorter than 20 minutes --I'm just using 20 minutes for this example) trades no higher than $330.00 and no lower than $329.00. The price keeps oscillating back and forth between those two points over the 20 minutes. In my world that is a consolidation. I call the resistance $330 and the support $329. Scalpers look for these types of consolidations and then they wait for the stock to break either the resistance or support. As soon as the stock breaks either the support or resistance they either buy or short the stock. Is JBookTrader designed/intended for that type of trading? (3) What broker do you recommend? (4) Is it possible to have JBookTrader monitor hundreds of stocks (perhaps thousands) simultaneously? When it sees the right conditions for 1 of those stocks it enters the trade. Please know that I live in the Kansas City, Missouri, area. We have access to Google Fiber. We have upload AND download speeds of 1 Gigabit / second. I'd like to take advantage of that speed if I could. I could be wrong, but it looks like JBookTrader follows 1 stock at a time looking for trades. Is that correct? -- You received this message because you are subscribed to the Google Groups "JBookTrader" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. Visit this group at http://groups.google.com/group/jbooktrader. For more options, visit https://groups.google.com/d/optout.
