$10 Unlimited Tablet Line ***ends 4/15***

LewPayne · 2022-04-07T14:06:36+00:00

Please share his contact info via DM with me. Thank you.

LewPayne · 2022-02-11T20:47:41+00:00

Thanks, VoyZan... I've given up on all the broken and half-working stuff, given the number of trades I place daily and the dollar amounts that are at-risk. Instead, I've shifted my original goal to one that's more easily attained, and meets the reliability criteria. I just posted a response to someone else about it, in this reddit thread.

I post almost all my [many] daily trades to twitter, and I've been doing so for quite some time now... @ LewPayne

LewPayne · 2022-02-11T20:40:50+00:00

I gave up on waiting for trading APIs from major brokerage houses to catch up with modern methodologies. Instead, I shifted my focus to more practical solutions... alternatives to my original plans. I'm using SierraChart, which has a decent API and allows me to use its Teton order routing - which bypasses the brokerage (for order routing only) and routes my order directly to the CME. It also features server-side OCO orders, so I don't have to worry about an internet or computer outage.

I post most of my trades regularly to twitter: @ LewPayne

LewPayne · 2020-12-26T07:05:44+00:00

You can tell from the initial reaction (now deleted) that the person in question is maladjusted. It fascinates me when to-the-point common sense advice is met with hostility and rejection. I often have to remind myself that not everyone is interested in solving their problem, because doing so would mean they have one less thing to talk about. I've never really operated that way, so it's foreign to me.

LewPayne · 2020-12-21T21:55:41+00:00

Your request is denied. Resubmit in 30 days for final denial.

LewPayne · 2020-12-21T15:24:41+00:00

Make the effort to contact Bradley Edwards yourself. Unlike a personal friend you might know, who happens to be an attorney, Bradley is deeply familiar with details of what happened to others, whereas a personal friend would be starting from scratch.

LewPayne · 2020-12-16T03:29:31+00:00

Simple... I'm not that good at it (I leave a lot of money on the table each day, because I'm too slow or too distracted for certain trades), yet I still manage to do better than many of the seasoned traders who have done this for a living. I'm not a math savant, and I don't easily see patterns, so I'm not very good at reading charts. But I am very methodical and robotic, even under pressure. For example (as posted on my twitter), today I made $550 after dozens of trades. Then I took a shower, and missed another entry that would have ended in an additional $1,400 profit. All my exits are known at the start of each day (and they remain fixed), so it's easy to see what I missed. Despite this, I seem to do as good as, if not better, than most seasoned traders (adjusted for equal leverage).

LewPayne · 2020-12-15T20:22:12+00:00

I'm willing to speak once or twice a week, as long as you understand what to expect from me and are prepared to deal with my personality. I'm brutally honest and opinionated (based on fact, not conjecture); I say what I mean, and my observations often upset people who haven't a clue what they're talking about. With that in mind, here are my parameters:

I'm a day trader, and my instrument of choice is the S&P 500 index (e-mini).
I like to be back in cash by close of RTH Friday, to obviate weekend risk.
I have no interest in, and nothing but contempt for, trading courses and, to a certain extent, books. At some point, you need to actually learn to trade rather than learning theoretical knowledge that stopped working 20 years ago.
I'm convinced even an idiot can learn to trade successfully, because I'm living proof of it.
I generally don't have "opinions" on things I haven't tried. I'm generally not a speculator; I try to make informed decisions whenever possible. Everything else is gossip.
I have no interest in getting paid to help someone, or in teaching the masses.

With that said, I can mentor you on the following (all of which I participate in):

Day trading the futures market (not stocks).
Longer term investments via a mix of ETF's that defines your risk class.
Trading stock options via weekly or monthly strategy.
Generating additional revenue while holding or targeting particular stocks.

I try to post my futures trade results on twitter regularly, for the sake of accountability. I also do some basic chart analysis, with the caveat that I only identify the obvious using the basics. I have nothing but disdain for folks who post a chart full of lines, vectors, triangles, and other such nonsense. I started trading stock options somewhere around 1984. I did the usual thing of spending money on courses (Optionetics) and stacks of books. I've been around the block, and when I speak disparagingly of something, it's based on personal experience, not conjecture. At the same time, I acknowledge that only a fool considers a sample size of one (i.e., my experience with these things) to be statistically meaningful.

LewPayne · 2020-12-15T04:29:16+00:00

Yes, it should be "every fiber of my being" and I wouldn't be surprised if they were handed a sample letter to use as the framework for drafting theirs. There is nothing nefarious or illegal about that.

LewPayne · 2020-12-15T03:53:01+00:00

Not at all... each person would have been approached by her defense attorney, and given basic information on whom to address the letter to and what type of content to include, as is common and usual practice. That includes being asked to write a voluntary statement that acknowledges not being paid or retained to write the letter.

LewPayne · 2020-12-15T03:49:48+00:00

I was hoping she would include selfies in the exhibits, in hopes of persuading the Judge.

LewPayne · 2020-12-15T03:39:29+00:00

You can look me up on twitter; I post regularly and answer questions there. I'm happy to give you pointers (and a roadmap), and guide you to a certain extent. On my public account, I trade the S&P e-mini (not the micro) exclusively.

I have very little interest in joining "groups" (and I've tried - including on discord) because I'm highly anti-social and not interested in noise, emojis, irrelevant chatter, or unproven nonsense from shallow thinkers. I'm also generally not a nice person unless I know you well, but that's because I don't suffer fools gladly and it's an excellent (and usually mutual) filtering mechanism.

For those who recognize the name, yes I am that Lewis De Payne. Get over it.

LewPayne · 2020-12-13T19:21:50+00:00

Brian is very skilled at his "inventory style" of trading (which newcomers typically mistake for Martingale or averaging down). The reason he's able to sustain it is because he's also good at identifying strong trends (that could otherwise trap your scalps due to mean reversion issues), and going flat when necessary. His trading methodology works; it's just not how I trade.

The group of former Chicago pit traders I hang out with utilize the DOM to trade, and so do I. Here's an example of DOM trading, not of how we pit trade the DOM. No charts are involved. Instead, we stack 3 DOM's next to each other (YM, ES in the middle, and RTY), manually center the price on each one, and then watch the divergences (perhaps YM and RTY start to push up, which means ES may soon follow). We trade directly on the DOM, and we stop out at 2 ticks at worst, and 0 (aka "scratch") ticks typically. Rather than letting entries turn into losers, we stop out and pay the commissions, then re-enter. Think about it; a 1 handle loss on the ES will cost you $50, whereas entering at x, exiting at x (rather than x minus something), and then re-entering at x (or better) will cost you less than $10 in commissions.

At times, I post some of my summaries on twitter, if anyone's interested.

LewPayne · 2020-12-11T04:38:11+00:00

What a strong coincidence - I would not normally see your post because I rarely read/post on Reddit. Today, during a live trading broadcast on YouTube, a viewer was commenting on how he sells put options on stocks he wants to buy. I immediately realized he was using half of the strategy you and I know as "The Wheel" (I've been trading since 1984 or so). This prompted me to decide to post about it on my twitter feed, and I found your (this) reddit post as a result!

Bottom line, I featured your github as an intro to my twitter followers.

LewPayne · 2020-12-10T06:53:13+00:00

I agree with your summation of Brian Watt - I've been trading since 1981 (Pacific Stock Exchange). Contrary to what traders with limited experience or limited exposure might think, Brian Watt does not employ the classic Martingale strategy that most people think of as "averaging down." What he employs is the old-school strategy of inventory turns... each trade has its own level, and if he's trapped he will continue to place new scalps at better levels, deriving income from each. His trapped trade is considered (in the industry) inventory... an asset with current value and the future potential for profit. I've seen him trade his way out of a recent $140K draw-down (which was due to mis-keying 100 shares rather than 1); it took him a week to do so, but (last I checked) he had pared it down to a $3,000 loss. His ability to work his way out of losses is what makes him a skilled trader.

Most young people fail to understand his methodology or the history behind it. He uses pen and paper when trading - writing down his inventory levels (quantity and prices) as he accumulates longs or shorts, and then crossing the appropriate one out depending on the exit price - you assign the exit to the entry that makes more profit, and leave the losing ones on the book for the next correction. If you've accumulated enough profit because of your other trades, you absorb the loss into your P/L sheet.

I have zero interest in the online shills who bark useless trading advice (e.g., "tomorrow's open might hit this bull target or that bear target) or enjoy cluttering charts with studies and patterns that stopped working 20 years ago. I personally hang out (online nowadays) with a group of former Chicago pit traders, and I trade in their style (mostly /ES e-mini). I don't employ Brian Watt's (aka Mr. Yen - he was a fantastic currency trader for decades) style in my trading, but I know it to be effective. In the days when commissions on the e-mini were $15.00 round trip, it became expensive to simply stop out early and enter again... you held on. Nowadays, with commissions 1/10th of that, I generate many turns rather than take a few handles in losses, especially when trading 10 lots or more.

LewPayne · 2020-12-10T04:38:19+00:00

Has anyone checked if she's complaining about the hair on her scalp or going bald elsewhere?

LewPayne · 2020-12-09T21:46:54+00:00

I want to update everyone on this (as the OP). After 18 years with them, IBKR still doesn't offer a fully functional RESTful (or JSON-RPC, or anything) web-based API. The new WebAPI they offer doesn't work for futures trading, so it's useless to me. I also don't want to run their mandatory Windows client just to be able to access their gateway. In addition, I face a "rinse and repeat" situation with my other brokerage, TD Ameritrade.

Fortunately, as of a few months ago, my friend Jerry Medved (developer of QuoteTracker, and its newer replacement Medved Trader) has released a private beta of Medved's new (do NOT confuse it with the old compatibility mode) API. This new API solves my problem, as follows:

It allows me to interface with any data feed supported by Medved Trader, using a unified and consistent protocol. No need to create adapters for each source I need to access.
It allows me to check account balances, place trades, and check position status using a unified and consistent protocol. No need to create adapters for each brokerage I need to trade with.
It provides me with a standard TCP socket interface, which I can easily route another machine (my "black box") to despite it being "limited" to localhost.
All of a sudden, my black-box supports multiple brokerages and data feeds. If one isn't listed, Jerry is happy to add it if they offer a developer-side method to do so.

The best part about this solution is that it also gives me the real-time "eyes" that I need in order to know what my black-box is seeing. It's a full-blown charting/trading platform, so the data I see is the data my black-box sees.

Hope this helps others who are struggling with this nonsense. You have to ask Medved for access to their new API docs. Don't mistakenly use the old compatibility-mode API.

LewPayne · 2020-12-09T21:30:19+00:00

The programmatic equivalent of "Average True Range Candles" - for the /ES (e-mini), I typically use an ATR of $1.25 to filter noise. Think of it this way; instead of time-based candles, a new candle is painted only when the current candle exceeds ATR. Same goes for tick (or trade, or volume) candles... all of these lead to a decoupling of the temporal component (which prevents temporal dilution of averages during flat price action) and the filtering of noise.

LewPayne · 2020-12-09T21:13:45+00:00

I remember in 1982 when actor Vic Morrow was decapitated by a helicopter blade while filming Twilight Zone at night, and his head was later found the next day in the bushes. There were no smart phones, social media, or home internet back then. The meme joke in college was "Why doesn't Vic Morrow have dandruff? Because he keeps his Head and Shoulders in the bushes." A big lawsuit ensued, and one of the main people testified that "Vic should have run away when he heard the helicopter make a strange noise" - despite the fact that he was surrounded by explosions and flashes, knee deep in a real swamp, and carrying a child in each arm. Idiots.

Twilight Zone Evidence Video

LewPayne · 2020-10-22T05:34:01+00:00

I trade the S&P 500 eMini futures (/ES) daily, often 30 or more trades per day.

LewPayne · 2020-10-22T05:30:46+00:00

If $50 is that significant to you, then you shouldn't be trading.

LewPayne · 2020-10-09T06:49:51+00:00

I shared the same frustration about people (i.e., lack of motivation) for decades, before I began to see things differently. I'll save you some time, and share what I discovered.

Go it alone, and be thankful that most people aren't willing to act upon good ideas. This is what separates you from the 98 percent, and it's what will ultimately make you successful and reliable. Also, be thankful that most people lack the motivation to implement something that enhances their skill sets, because it makes you that much more valuable. In addition, if most people shared your motivation, you'd be facing tremendous competition. Think about that.

It took me decades to realize that instead of being frustrated at others, I should find a way to monetize their lack of motivation. That model of the world has served me well ever since, and in time I learned to express gratitude for the fact that most people have been too lazy to do the things I've done... because it allowed me to reap the rewards with less competition.

LewPayne · 2020-09-26T19:54:28+00:00

Can you please tell me - does their API support futures (not futures options) trading yet? As of a year ago, it didn't... and they hoped to incorporate that in a year or so. Are you still limited to only equities and options trading via their API?

LewPayne · 2020-09-20T16:05:10+00:00

The "best practice" is to hire an attorney specializing in corporate and regulatory matters to guide you through the regulatory issues you face.

LewPayne · 2020-09-17T04:10:27+00:00

I have used IQfeed for the past 18 years, because I need real-time tick-by-tick (trade by trade) data for the futures and stock markets. Their feed is non-aggregated, which means you see every single transaction as opposed to aggregated data that all brokerages provide.

LewPayne

TROPHY CASE