Attention Matthew Klein. The following are more details regarding our “rebuttal” to a recent NQ TImer subscriber review.
“Vendor panicked this AM. Buy 6, Sell 3, Cancel Sell 3, Sell 12, Sell 3 short. Not a good sign.”
- a Subscriber
Thank you for the review. Please allow for us to clarify. We’ve made many trades using the C2 interface and are familiar with it’s functions and limitations. Namely, to place a trade before/to be executed at 9:30 am ET, we use the “Park Until Time” feature. However, if left unattended this order will lapse past the parked time and not execute until some random time later. To fix this, a “trouble ticket” must be submitted.
MK please verify this to be true, along with the following (that I discovered long ago).
Or the trade can be “forced” to execute, a bit past 9:30 am ET, by clicking the trade “cancel” button. The interface will simply tell you that the trade time has passed and that it cannot be cancelled - but it will immediately process the trade. Matthew please addresses this “work-around”, soon.
Too, realize I am only human. Originally, the trade was correctly entered into the “Advanced” order entry screen, but there was no response when I clicked the “Park Until Time” button. A web page “refresh” still did not make the button active. However, switching to the “Basic” order entry screen and then back to “Advanced”, the button became active. In my frustration, the order was incorrectly entered as “BTO” 6 NQ contracts. In keeping with IBD’s signal to shift back SHORT (having been LONG for just 1 day) our 100% mechanical system signal meant to “STC” 6 NQ contracts, to then conditionally STO 3 NQ contracts.
As the reviewer correctly stated, shortly past 9:30 am ET we cancelled the conditional STO 3 NQ contracts trade (to “force” execution, see above), but it just cancelled. The BTO trade did then execute - placing me LONG 12 contracts (which were immediately closed). In a rush (not panic), once the previous trade was closed, we accurately STO 3 NQ contracts per the IBD signal.
That was bungled to say the least. An additional $300 loss was incurred with the erroneous, sudden entry and exit of 6 NQ contracts. If the actual OPEN price for the SEP NQ contract is correctly 2324.5, an additional $285 loss was incurred with a late-entry into our open SHORT position. Also add a $509 loss for not executing the STC 6NQ transaction at OPEN price. Total $1,100. We take consolation in the fact that (max) drawdown was not exceeded (in the long run, this actually is “noise”).
A “trouble ticket” was initially submitted (thinking the original conditional order was correct). MK please correct me if I am wrong, but I now realize my mistake.
If there is still any doubt…please go to our sister-system, QQQ ETF Timer, to find the trade shift accurately transacted. Interestingly these orders (close QLD/open QID), entered before the open, executed at the open price - but post 9:31 am ET and 9:42 am ET trade times. I really hope Matthew looks at this, too.
As can be seen from the trade history, we simply open and close just one trade with each signal. Going forward, I truly know that all trade entries must be double-checked.
Thank you for following the “IBD Experiment”.
QQQ Timing Investors
