Saturday, July 09, 2005

"Everyone gets what they want out of the market." --Ed Seykota

I never liked working, which goes a long way towards explaining my natural attraction to trading debt. But I'm also a big fan of automating work when I can directly reap the benefits. This is why I am also a programmer. I used to write computer programs to do my math homework for me in high school and college. I can't stand grinding repetitiously when there's no good reason for it.

Some very successful people like grinding, and it works for them. Take a look at this post by Brandon Fredrickson. He admits grinding over 80 hours a week, pouring over financial information and charts. When you read interviews with Dan Zanger, you find he is the same way.

I can't help thinking there is something important hidden just beneath the surface here. Ed Seykota said something pretty near the mark in his interview in Jack Schwager's "Market Wizards" book, "Everyone gets what they want out of the market." Some people like analysis for the sake of analysis, and similarly people feel like they don't deserve wins if they didn't grind for it. I don't feel these things at all, which is why I'm taking steps to reduce the time it takes me every night to get the same amount of useful information about the market for the next trading day. I've written a software prototype that I've been using for a couple of months to make my watch list each night. Among other things, it has elements of a screener, but like none I've ever seen. Since I've written this software, my homework time has been reduced down to about 45 minutes a night to learn what used to take me 2 or 3 hours. When I'm done, I hope to have it down to 20-30 minutes. Anyone who's read this blog over the last two months has seen watch lists and stock ideas that came from my software, although this is the first time the software has been mentioned on the blog.

Anyone else who is in the markets to take debt from other people and make it their own as cheaply as possible should stay tuned to this blog because I am in the process of converting my trading homework software prototype into a customizable website so that others can reap the benefits that I already am. In a sense I'm leveraging my extra time each night by re-investing it to further develop this trading tool. In a couple of months the website will go live and I'll post about it here.

5 Comments:

At 9:43 PM, Blogger Gordengekko said...

Jon-

Just let us know when the website is launched. Take a look at IPII. Chart looks great and the stock has been acting very well. Thanks for your help.

Gekko

 
At 2:27 AM, Blogger jontait said...

Thanks GG. Yea IPII looks great. If it makes a handle before making new highs, that would probably be a good opportunity to start accumulating.

 
At 11:10 AM, Blogger Gordengekko said...

Jon-

Hurricane Dennis is going to tear up the Panhandle where you took your vacation. IPII is a buildings material company in that region. IPII might be the next BOOM.

Gekko

 
At 7:24 PM, Blogger HulkHogan said...

Jon,

I have been searching for charting software that can basically track all of my trades and chart their gains/losses on a webpage. Know of anything like this? I'd like to make my trading record public knowledge ;)

-Matt Norris

 
At 12:55 AM, Blogger jontait said...

Norris dude, I don't have anything for publishing trades on the net but I have seen people do it. If you can't find a website where you could do this, you could maintain it yourself on a basic website for just a couple bucks a month. You know enough java that you could probably write something that would automatically generate the page for you given a spreadsheet of your trade history.

I can email you this file if its too hard to read here. Here is some code I wrote to read in a 1-column .csv file of stock symbols to give you a starting idea:


/**
* Grabs the first column in a csv, including the first line.
* Any string found that is <= 4 chars long is added to the List of symbols.
* @param reader
* @return
* @throws FileNotFoundException
* @throws IOException
*/
public static List scanSymbolList(Reader reader)
throws ReadException
{
try
{
List symbols = new ArrayList();

BufferedReader br = new BufferedReader(reader);
int rowIndex = 0;
String contentRow;
while( (contentRow=br.readLine()) != null)
{
StringTokenizer st = new StringTokenizer(contentRow, ",");
if(st.hasMoreTokens())
{
String tok = st.nextToken().trim();
if(tok.length() <= 4)
{
symbols.add(tok);
}
else
{
if(Constants.DEBUG!=0)
{
System.out.println("Found something that wasn't a symbol: '"+tok+"' at row index '"+rowIndex+"'");
}
}
}
rowIndex++;
}

return symbols;
}
catch (IOException e)
{
throw new ReadException("Problem reading in symbol list: "+e.toString());
}
}

 

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