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No Signals for more than 1 day (not just tomorrow)
BWO
Topic Starter
Mon Dec 31, 2018 - 16:32
Can we implement this in WealthSignals?
15 RESPONSES
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Mon Dec 31, 2018 - 17:04
What do you mean?
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Mon Dec 31, 2018 - 17:13
It's not clear to me what you're requesting. Does it mean there are no signals until next Monday morning? Monday night? Why Monday? What happens if you (or someone who uses this proposed feature) changes your/their mind and wants to take advantage of the current market conditions?
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BWO
Topic Starter
Mon Dec 31, 2018 - 17:33
It would be for a Thursday Trade or Friday Trade that you knew would have no signals until the next week so it could be no signals till next week, month, etc, or some date specified by the author.
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Mon Dec 31, 2018 - 17:43
But what if you change your mind?
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BWO
Topic Starter
Mon Dec 31, 2018 - 19:41
You should know if you have to change your mind and issue an additional warning and confirmation message whether your WealthSignal be allowed not to issue signals until such time as specified.
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Thu Jan 10, 2019 - 16:55
Being able to send "No Signals for ... Day(s)" with ability to cancel it sounds like featuritis to me. Post NST every day, let those who put money on the table make sure you're alive.
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BWO
Topic Starter
Sat Jan 12, 2019 - 10:54
Eugene, I agree that that ability is akin to featuritis, but I noticed some people talking about offering weekly and monthly systems and those are the people that I was considering in this request. I do agree also that posting NST is an ethical, good practice to require Authors to do, so don't think that this was a request that applied to me. I just as I said noticed some people talking about using Monthly weekly charts and those are the Authors that would have been interested in using this feature. That's all. You may close this thread..
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VK1
Sat Jan 12, 2019 - 11:00
I think you both have a case here. We were thinking about posting the NST for a couple of days. I had people complaining on other sides that systems that they subscribed to just stoped posting signals. Reasons? Unknown... not good.
Anyway, we should look into it again. we see how difficult it is to implement. May be we set a time frame to 5 days or till next Monday or next week first trading day. After all we wanna make it easy for publishers and subscribers.
I put it on the list.
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Sat Jan 12, 2019 - 11:19
Not sure how NST for more than one session can make it easier.

1. Depending on how you define it (calendar days or market days), some authors may be confused.

2. Next, author can make an error or change his mind. So ability to retreat from a prolonged NST will require support for Cancel NST on the backend, website and the WSP.

3. A visible indication of NST with days remaining (with the ability to cancel) might be required in the WSP (when applicable). Hope this fits the small toolbar.

4. If you claim NST now with one click, this will change. The terse GUI of WSP does not have room to fit a numeric control next to the button so I imagine a dialog box with number of days (market sessions? calendar days?) which authors will have to OK every time even if they don't plan for a multi-day NST.

So, one authors will benefit at the expense of the others who will not.
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Sun Apr 7, 2019 - 06:15
5. It's possible that subs who have missed the entry signal may unsubscribe for simply not having received anything but NST in a long time.

To sum it up, so much effort for an untested and potentially damaging idea.
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BWO
Topic Starter
Sun Apr 7, 2019 - 06:45
I have it in my script not to trade for t+3 days to comply with reg t margin in IRA's, so if you haven't considered the implications for retirement accounts, you should not dismiss it as irrelevant, Eugene.
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Sun Apr 7, 2019 - 07:28
Nothing stops authors from sending NST several times during the T+n period. I'm just saying that its implications will far outweigh the benefit (which is inapprehensible at least to me).
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Sun Apr 7, 2019 - 07:51
A couple things:
1. T+3 changed fairly recently to T+2 for all stocks and most mutual funds.

2. IRA owners can find a broker like Fidelity that offers Limited Margin Trading. The advantage? You can trade with unsettled funds.

It behooves anyone with an IRA that qualifies to consider converting to Limited Margin trading.
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BWO
Topic Starter
Sun Apr 7, 2019 - 08:04
Trust me. I thought of it as a structural change in my strategy, too..but, it's not, it really DOES need to wait 3 days for Normalysis.
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Fri Aug 2, 2019 - 07:19
Thinking about multi-day NST, the idea of posting "NST for N days" upfront should be discarded completely for many reasons (see e.g. my post @ Sat Jan 12, 2019 - 11:19). At least I see no room for it in the WS Publisher.

On the other hand, a "Cruise control" kind of NST might be more promising. It could be a strategy property i.e. it should be activated expressly on the WS website and then last automatically until a trade signal is received or it's deactivated in Strategy Settings by its author. (It cannot be deactivated for "today" if NST has already been received for the upcoming market session.) When again no action is taken by say 9:00am ET the following trading session, the backend considers the system is in 'cruise control' mode (i.e. everlasting NST). So it's assumed that in absense of signals there's always a lasting NST condition. Then the WS backend would send out the regular NST email to subscribers every day until the option is deactivated or a trade signal is received.

The apparent downside is that we have to agree on some fixed time of "no show" by author (e.g. 9:00am ET) to let the WS backend send out the NST email to subscribers after that time. Until the cutoff time we'd let the author to change his mind and submit trade signal(s) or deactivate the "cruise control". If author changes his mind after the NST email is auto-sent, he probably should not be allowed to reset NST for this day, and the change should apply to the next trading session. EDIT: Not sure if we should discard the "late" trade signal altogether or let the backend process it - this question requires a team discussion.

Such change would not require any modification of the Publishers in Wealth-Lab and Quantacula. The "cruise control" would be just like any other property of the system like Starting Capital or Subscription Price. It's the simplest implementation I can think of, and simplicity is at deficit when talking about how multi-day NST might fit our backend, website and publisher tools.
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