I’ve been using TradeStation for nearly 20 years! And before that I used SuperCharts, which was the forerunner to the TradeStation charting platform. Based on that experience, here are my top suggestions and answers to some of the most frequently asked questions about using TradeStation. Use the links below to jump to a particular topic:

1. How to backup your TradeStation charts and EasyLanguage files
2. Why use “continuous” futures contracts
3. Why use 1440 minute intra-day charts instead of daily charts
4. What ‘Format Symbol’ settings should I use
5. How to setup Hot Keys for frequently used functions
6. How to setup Hot Keys for workspace and window pointers
7. How to setup Hot Keys to move between charts
8. Why link chart windows with the same symbol
9. Why use Analysis Groups in TradeStation
10. Why you need to rationalize and standardize your charts regularly
11. How to change indicator settings quickly across multiple charts
12. How to change the text size in TradeStation
13. Why you need the fastest Internet connection possible
14. How to access TradeStation through a Firewall
15. Why you might need to re-load your cached data
16. How to tell if your Internet connection is “glitchy”
17. Why you should read the TradeStation manual
18. How to get more answers to TradeStation questions
19. How to learn TradeStation EasyLanguage

How to backup your TradeStation charts and EasyLanguage files

You’ve heard this before from me – backup, backup, backup. Think it can’t happen to you? Your hard drive fails or you get burgled. Save yourself the stress and plan for disaster.

TradeStation has a backup capability in-built. Set this up to run automatically, every week, at 3am so it doesn’t get in your way. In addition, every month I export and save all my EasyLanguage files using the export wizard. These are saved on my hard drive and then I use Google Drive to automatically backup all my hard drive files off-site, in the cloud.

There’s a full explanation in this article: Trading Backup Plan – My 7 Step Plan for Hardware Failure

Why use “continuous” futures contracts

I see so many charts from traders where they’ve plotted the current futures contract (e.g. ESZ19). That’s great but they have to change it at rollover. If you use the “continuous” contract version (e.g. @ES) instead, the rollover happens automatically – plus all the history is already on the chart.

An even better “continuous” contract symbol to use

TradeStation, by default, “rolls” the price and volume data on the 7th day before contract expiry. The 7th day is still the most active contract, so I prefer “rolling” the data on the next day, the 6th day before contract expiry.

To do that use these contract symbols:
For the day and night session of the Emini use: @ES=106XC
For the day session only of the Emini use: @ES.D=106XC

Why use 1440 minute intra-day charts instead of daily charts

Particularly useful for getting volume data quicker. End of day volume data is delayed – the exchanges don’t release it until well after the close. But if you use a 1440 minute intra-day chart (1440 minutes = 24 hours) then you’ll get the running total volume traded and know what the daily volume was before it’s released by the exchange. Sometimes the exchange makes some adjustments to the figure but it’s usually pretty close.

In addition, on a 1440 minute chart TradeStation splits the day’s volume into “Up Volume” and “Down Volume”. “Up Volume” is volume traded at the Ask price and can therefore be considered aggressive buying. “Down Volume” is volume traded at the Bid price and can similarly be considered to be aggressive selling.

By keeping track of this “real” buying and selling volume you can keep track of the strength of a trend. Breakouts into trend typically start with a large volume of aggressive volume. And trends peter out when the buying volume backs off, even as higher prices are printed.

So this “real” buying and selling volume data is really useful.

What ‘Format Symbol’ settings should I use

How to setup Hot Keys for frequently used functions

How to setup Hot Keys for workspace and window pointers

If you use multiple time frame charts you’ll often want to see where you are. Set up a Hot Key to add a pointer that shows where you are on all the charts open in a workspace. I use “]” for showing the pointer in all windows (or charts) in a workspace. And I use “” for showing the pointer in just one window (or chart).

Useful for reviewing history and seeing what was happening in each of the different time frames. I use this at the end of every day to review the day’s Emini trading and setups.

How to setup Hot Keys to move between charts

Easy one here and already setup with the default TradeStation settings. You can select the workspace you want to view with control + page up/down. Then select the window (or chart) you want to be live with control + tab. Finally, change the bar spacing with the up and down arrows.

Why link chart windows with the same symbol

The symbol window link (“S” in the top right of each window) will join together different time frame charts of the same symbol. If you change the symbol in one chart – all the other charts will change too. Very handy if you want to look at a sequence of symbols in different time frames. For example, daily, weekly and monthly charts for swing trading stocks. Or in the case above, 3 tick charts – 500, 1,500 and 4,500 tick.

As well as linking symbols, you can also link timeframes. Use the interval window link (“I” in the top right of each window) to join together different symbol charts of the same timeframe. For example, you could have all the major indices (S&P500, Dow, NASDAQ and Russell) set up in charts and then toggle between daily views, weekly views and monthly views.

Why use Analysis Groups in TradeStation

Why you need to rationalize and standardize your charts regularly

We all do it – try out different indicators, look at different markets, add complexity to our analysis. But “analysis paralysis” can be deadly – day trading decision making needs to be fast and having conflicting indicators or markets will just tie you up in knots.

My suggestion is to regularly go through your charts and delete the ones that are not essential – do you really need that chart of the Japanese Yen versus Swedish Krona?

Then create a standard indicator Analysis Group that you use for all charts and all time frames. It should have the minimum number of indicators with all the settings just as you like them. Then apply it to all your charts – you’ll become quicker at reading your charts and you’ll see tradable patterns repeating. For me, the ultimate is just having one chart with all 3 of the Better indicators and trade entries and exits signaled – and nothing else. One day…

How to change indicator settings quickly across multiple charts

Difficult to explain this one, but I’ll try. This is a very useful way of making global updates to things like indicator colors, lookback periods, etc.

EasyLanguage indicator code: 200 Day Line

Variables: Length(200), HighColor(Red), LowColor(White);

Value1 = Highest(H,Length);
Value2 = Lowest(L,Length);

Plot1(Value1,”High”,HighColor);
Plot2(Value2,”Low”,LowColor);

Rather than go into every chart you’ve added an indicator to and changing the colors, etc. – you can do the same just by changing the EasyLanguage code once and re-verifying the indicator code. Just make sure the things you might want to change are coded as “Variables” and not “Inputs”. See the example code above.

I often get asked this question: “How do you change the default text size in TradeStation?” Well, here are the steps:

1. Select Drawing > Text
2. Write some text on your chart
3. Right click the text and Format the font, size and color
4. Tick the “Set as default” box > OK
5. Right click and Remove the taext
6. Ctrl + R will update the chart with the new text formatting

Plus any new chart will have the new text formatting.

Why you need the fastest Internet connection possible

Your biggest bottleneck is not your computer processor speed, RAM, hard disk drive, operating system, etc. – it’s your Internet connection speed. Let me try and explain. Indicators are very simple – just a calculation loop that is repeated at the close of a bar normally. And computers are very good at doing repetitive calculations very fast.

Take the example of a dated computer running something like an Intel Core i3 at 3GHz. This processor will execute 50,000+ MIPS or million instructions per second. That’s 50 billion instructions per second. Now it takes a few instructions for the processor to execute a full calculation, so 50 billion instructions is roughly 5 billion CALCULATIONS per second.

Now let’s compare that to your typical home Internet connection speed. Let’s assume you have “basic” cable and you’re getting a download speed of 4 Mbps – that’s 4 million bits per second or 0.5 million bytes per second. So your processor is capable of running 5 billion calculations per second but your Internet connection is only delivering 0.5 million bytes of data per second.

Your computer processor is capable of running 10,000 times faster than your Internet connection!

Now I’m not a computer engineer and some of my assumptions might be out – but I’m sure you get the picture. Ever wondered why Goldman Sachs wants to co-locate it’s computers next to the exchange’s computers? Now you know. The days of upgrading your RAM, computer processor and graphics card are over – they’re moving at warp speed compared to your basic Internet.

And when you’re measure the speed of your Internet connection, don’t forget to measure to the server delivering the data – not your local server. In my case this is the difference between measuring the speed to a Sydney suburb in Australia versus Texas (where the TradeStation data servers are located). Measure network latency as well as throughput. They both impact response time. A few years ago:

• My local Sydney server gave results of 60+ MBps throughput and 10 ms latency.
• The Texas servers gave results of 2-4 MBps throughput and 250 ms latency!

How to access TradeStation through a Firewall

If you’re behind a Firewall, when you try and log into TradeStation you’ll be told you are not connected to the Internet. Then TradeStation will just cycle through continually trying to get a connection but fail. You can use the Terminal application to check by typing “telnet 63.99.207.100”. This is asking to make a telnet connection to one of the TradeStation data server IP addresses. If “Unable to connect to remote host” comes back then you’re definitely behind a firewall.

Quick work around: ExpressVPN

If you’re looking for a quick work around to bypass a firewall then a VPN, like ExpressVPN, might work. When traveling we’ve come across some hotels using a firewall and just logging into TradeStation using a US VPN connection has worked. Definitely worth trying – and a VPN service is worth subscribing to anyway.

To bypass the firewall here are the specific instructions you need the network administrator to action. It looks complicated but to a network guy it should be straightforward.

Ask your network administrator to make these changes:

Incoming and outgoing TCP/IP connections through port 11000, 11001 and 11020.
Incoming and outgoing TCP/IP connections to the following IP addresses:

3.18.24.98
52.14.156.113
3.19.136.234
3.134.162.9
3.12.205.55
3.12.81.146
18.219.167.41
3.21.107.220
18.188.138.17
3.15.116.94
3.128.83.78
3.136.222.234
3.19.170.180
18.190.71.20
3.16.244.249
3.23.71.155
13.59.34.118
3.20.168.91
3.130.42.151
3.20.83.229
18.219.167.41
3.12.81.146
3.21.107.220
3.23.117.85
3.20.213.230
3.134.22.56
3.132.113.193
3.23.2.35
3.18.198.250
3.226.43.250
34.192.110.71
18.208.12.108
34.231.101.234
100.25.62.72
52.4.21.160
3.214.58.246
34.205.190.244
35.170.224.48
35.170.220.125
54.158.176.209

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Note: TradeStation suggests you contact Customer Services to obtain the latest IP list. This list is correct as of 18Oct20.

Alternatively use a VPS, which stands for Virtual Private Server. Effectively this is a virtual computer, connected directly to the Internet backbone and hosted by an ISP. You access this virtual computer through any computer with an Internet connection (what we used to call a “dumb” terminal) using Microsoft Remote Desktop Connection (or other Mac OS X app).

The beauty of this approach is that your virtual computer has a very fast connection to the Internet and trading data – plus it can be very highly spec’d and only running your trading platform. Hence getting maximum performance. Then your terminal computer just needs a minimum Internet connection to “see” and control the virtual machine.

Why you might need to re-load your cached data

This is one of most useful fixes I know of – particularly for heavy users of Tick charts, like me.

If you find your tick charts slow to load, then your cached data may be corrupted. Alternatively, if you have a poor Internet connection with “micro-outages” your tick charts may show gaps. Both of these problems can be fixed by re-building your cache. Here are the steps in TradeStation:

1. Shut down TradeStation
2. Find the cache folder –
   In TradeStation 9.5 it is here: C:Program Files (x86)TradeStation 9.5ProgramCache
   In TradeStation 10 it is here: C:Users[UserName]DocumentsTradeStation 10.0CALCache
3. Re-name the cache folder to something like Cache_Old
4. Re-start TradeStation and open some of your charts

This will force TradeStation to access the historic data on their servers and re-build your data cache. Try to do this out of hours, not during the trading day, as the data downloading will be slow. Try it – it works like a treat every time.

How to tell if your Internet connection is “glitchy”

Again, if you’re a heavy user of Tick charts like me, you need to know that you’re receiving every “tick” of data in the data feed. If your Internet connection and/or WiFi signal is “glitchy” you’ll experience “micro-outages” and data packets will be lost, technically called “Jitter”. There are various online tools for measuring packet loss and Jitter, including this one.

But TradeStation also has a very useful built-in function that can help measure “micro-outages” and tell if you have a problem. A chart of the symbol ‘== BYT’ shows TradeStation bandwidth usage (in Kbits/second) every second.

Symbol ‘== BYT’

You need a space between the ‘==’ and ‘BYT’ letters in the symbol. If you leave the space out you’ll get a “Data request failed: incorrect symbol” error message.

Keep this chart running during the trading day session (with your usual tick bar charts for trading also open) and if the indicator line plotted ever hits zero, you’ll know that you just missed some data. The odd zero plot shouldn’t be a concern, but if you are showing multiple, consecutive zero plots then your Internet and WiFi connection are poor – and you’ll need a fix!

You can also be alerted whenever you have data glitches by adding the ‘Data Flow Lost’ indicator by JRG (just search the TradeStation forums for the code) to a 1-tick ‘== BYT’ chart described above. Here’s a snippet of the indicator code:

Data Flow Lost Indicator

Inputs: Alert_Start_Time(0930), Alert_End_Time(1615), Alert_Every_X_Ticks(5);
Variables: Counter(0);
If Time >= Alert_Start_Time and Time <= Alert_End_Time and DayOfWeek(Date) > 0 and DayOfWeek(Date) < 6 and Close = 0 then begin
If Mod(Counter,Alert_Every_X_Ticks) = 0 then
Alert(“Data Failed”);
Counter = Counter + 1;
End
Else Counter = 0;

Why you should read the TradeStation manual

It’s terribly unfashionable to read manuals these days – it should all just work and be totally intuitive, right? Wrong. Charting software is some of the most complex out there and literally takes years to master, particularly if you write your own code.

But getting answers is a lot quicker these days. Manuals usually come in PDF or online format and are searchable. Forums are an amazing resource – and one of the keys in deciding which charting software to use – make sure you’ve bookmarked yours. If you’re having a problem or curious about how something works in TradeStation, I guarantee there’s a forum thread or article written about it.

Real-time if you notice your data not updating or one of your charts doesn’t look right – check the forums (or Twitter) first. The exchange might have done something, other traders might have identified the problem too – you’re not alone out there.

(Note: TradeStation Network Status has never worked for me in showing problems real-time. It invariably shows all green lights and everything is working fine. Not.)

How to get more answers to TradeStation questions

Can’t find it in the manual? Don’t read manuals! Then use Google instead.

Type this into the Google search box

site:https://tradestation.com “search term”

This will restrict the Google results to just the TradeStation site, including the very useful TradeStation forum. Alternatively search for “search term” plus TradeStation or EasyLanguage.

How to learn TradeStation EasyLanguage

All traders need (at least) basic coding skills. TradeStation EasyLanguage is great – simple enough to pick up quickly and complex enough to do some pretty nifty analysis. Sure, sure, you C++ and C# coders can do anything – but for me it’s too hard. Plus I’m an old dog and stuck in my ways.

Here are some TradeStation EasyLanguage resources to get started:

• TradeStation EasyLanguage PDFs
• TradeStation EasyLanguage video tutorials
• Martyn Whittaker video tutorials and guides
• TradeStation Forum (you need to be logged in for access)
• Search function in TradeStation Forum
• Listing of EasyLanguage specialists

If you’ve never coded – give it a go. You might be pleasantly surprised how easy TradeStation EasyLanguage is.

So there you go, I hope you found these time saving TradeStation tips and tricks helpful.

• By Barry Taylor from blog emini-watch.com

Using ETFs for Intermarket Analysis

Tradestation limitation TradeStation does not allow you to plot two symbols in the same chart window when the amount of delay for the data is different. For example, one is delayed and one is real-time, or both are delayed but the exchanges providing the symbols’ data delay by different amounts of time. Otherwise, during the market session, you would see last prices on the current bar that are asynchronous (i.e. not simultaneous).
There are various ways around the problem – most of them quite complex and involving exchanging data between charts. However, I have found an easier solution. Read on for some tricks of the trade and useful equities vs. bonds indicators.

The solution to the problem is to find market symbols from the same exchange. With the explosion in the number of Exchange Traded Funds (ETFs) it is usually possible to find ones that track the underlying markets you are interested in.

For the Emini the obvious choice is the SPDR (symbol SPY) ETF traded on the AMEX exchange. For the Bond market the best choice is the iShares Lehman 20+ Year Treasury Bond ETF (symbol TLT), also traded on the AMEX exchange.

In the left panel of the chart above, daily data for the SPY and TLT symbols have been plotted quite happily on the same chart. However, in the right panel you get the dreaded “mix symbols” error code when plotting the ES and US symbols.

Are the Emini and Bond Markets Correlated?

The answer is sometimes yes and sometimes no. Correlation between the two markets can go as high as +60% (correlated) or a low as -60% (negatively correlated). You can add the in-built TradeStation correlation indicator on a chart of SPY and TLT to see this for yourself.

There are 2 opposing factors that drive the Bond and Stock markets at different times:

• Interest rates might be falling and causing Bond prices to rise. The stock market might view the lower interest rates as encouraging for the economy and respond with higher stock prices. Alternatively, rising interest rates will cause Bond prices to fall and the stock market might view the tightening as negative for the economy and stock prices. In these cases correlation between the two markets is positive as they are moving in sync.
• Stocks and Bonds are also alternative investment vehicles. If the stock market is rising strongly it might encourage Bond investors to cash out and put their money in the stock market and thereby cause Bond prices to fall. Alternatively, if there is a stock market panic investors might rush for the safety of Bonds and push Bond prices up. In these cases the two markets are negatively correlated as they are moving in opposite directions.

Measuring Differences Between the Emini and Bond Markets

With SPY and TLT plotted on the same chart we can compare price movements. A popular oscillator is shown in the screen grab above. In this case a ratio of SPY and TLT is calculated and this value is compared to a moving average of the ratio.

I prefer to use another measure of relative price movement. The screen grab below shows TradeStation EasyLanguage code for my Bond Oscillator. Instead of using the ratio of SPY and TLT prices it calculates the difference in percentage movement. This indicator is more like a momentum indicator.

The two indicators are comparead below. The Bond Oscillator (momentum type) is shown above and the Spread Oscillator (moving average type) is shown below. As you can see, the Bond Oscillator generates more defined turning points and is easier to trade.

The chart below shows the Bond Oscillator added to a 3 year chart of daily SPY prices. Spikes (up and down) in the oscillator show periods when the SPY is over or under-valued against Bonds. These periods can persist for some time – more so on the upside than the downside. To illustrate this a PaintBar has been added to highlight periods when the Bond Oscillator is above +5 (shown as white bars) and below -5 (shown as red bars).

Rather than use extreme readings on the Bond Oscillator to enter trades, it is safer to wait until the Oscillator crosses the zero line after an extreme reading. This prevents entering the trades too early.

Another trick I have found using this indicator is to wait for an extreme Oscillator reading and then look for a large daily move in the opposite direction in the Bond market. For example, Bonds are in a down trend, the Bond Oscillator goes above +5 and then Bonds have a one-day large up move. This pattern is signaling that professionals are taking profits at stock market highs and reaching for the safety of Bonds, hence driving Bond prices higher.

TradeStation EasyLanguage code for the PaintBar is shown in the screen grab below.

Bond Market Turning Points and the Emini

The last series of Bond Intermarket indicators are designed to highlight market turning points. I have found that there is a tendency for the Emini to lag the Bond market by approximately 20 days. To illustrate this point check out the chart below.

The SPY (Emini equivalent) is shown in the top of the chart and below it is TLT (Bond market equivalent) with closing prices shifted by 20 days. The red vertical lines show how turning points in the two markets (one delayed by 20 days) often line up. The neat thing about this analysis is that the Bond market turning points are known well in advance.

As an aside, this 20 day delay is also the reason I use 20 days as the look back period in the previous two indicators, Spread Oscillator and Bond Oscillator.

The chart below shows the state of the current Bond market (mid April 2007). A vertical line has been added showing where prices were 20 days ago. As you can see, since then the Bond market has declined steeply. If the 20 day relationship holds we may well see another turning point in the stock market. Only time will tell.

If you’re interested in following turning points in the Bond market you can use the indicator below to plot these vertical lines. The indicator allows multiple vertical lines of different frequencies to be plotted. Just vary the inputs NumLines (number of vertical lines) and Period (20 days, etc.). Make sure there’s enough back history in the chart to plot the lines though – if you ask for two 200 day lines and only have 300 days of history on the chart, the indicator won’t work!

I hope this article on Intermarket Analysis and equities versus bonds was helpful to you. You can download the indicator code used in this analysis.

— By Barry Taylor from Emini Watch

The original version of this article appeared in January 2010. I’ve been banging on about having a backup plan for years and years. The number of “please help, I’ve lost everything” emails I would receive on a regular basis, frankly, really scared me. So I made sure I was covered, recommended a simple trading backup plan whenever I could and pushed Nike’s mantra:

Just do it! Nike

I thought everything was fine. No need to worry. Until, in October 2018, the freakiest series of hardware failures hit me (and Mrs. Emini-Watch). And it took me out of full-time trading for over a month!

Needless to say, I learned a lesson or two from the experience. So time to re-visit my trading backup plan, update and improve it. It used to be a “Simple 5 Step Backup Plan” but it has needed to be expanded. So here’s my (new) “7 Step Trading Backup Plan” … learned the hard way.

So let’s get into it. Use the links below to jump to a particular section:

• Hardware failures you need to plan for
• 1. Use your trading platform’s auto-backup feature
• 2. Use a cloud backup service, like Google Drive (re-branded  Google One)
• 3. Use a broker with “server side” order handling
• 4. Use a cell phone that can act as a mobile hotspot
• 5. Keep your broker’s telephone number handy
• 6. Have a backup computer, like a Chromebook, ready to go
• 7. Use a laptop or power your computer with a UPS
• Summary

Hardware failures you need to plan for

As I see it, there are 3 disaster scenarios you need to plan for:

• Internet failure from ISP outage, power blackout, etc.
• Computer failure from hard disk crash, motherboard failure, etc.
• Time it takes to replace hardware, restore Internet service, etc.

The Internet failure is a minor inconvenience – as long as you can get out of any open positions. On the other hand, the computer failure can be serious. You can lose months of hard work and it can take weeks to restore your data and computer configuration.

What I hadn’t realised before October 2018 – and what prompted this latest re-write of the plan – is that the delay in replacing hardware could also potentially take weeks and be crippling.

And all of this is incredibly stressful. The feeling in the pit of your stomach when you’ve lost literally 1,000s of hours of work and you realize you’ve got days ahead of you trying to rebuild you computer and charts. The telephone calls with tech support trying to troubleshoot a software or hardware failure. And in my case, all this happened in France – so the tech support telephone calls were in French!

I never want to go through that again – and I never want you to go through the experience either. So let’s get on with it. Here is my updated 7 Step Trading Backup Plan:

1. Use your trading platform’s auto-backup feature

The better trading platforms all have built-in, automatic backup functionality now. TradeStation, my preferred trading platform, allows you to backup pretty much everything: indicator and system code, charts and chart settings, hotkey and order configurations, historic data, etc.

Scheduling regular backups will allow you to get back to speed quickly after a catastrophe. Personally, I run the auto-backup function every day at 4am. I backup everything except the data cache and I save the last 25 backups.

In TradeStation, use this sequence of commands to set your backup: File > Backup/Restore TradeStation > Backup TradeStation > Select Weekly > Select All > Untick “Data Cache” > Tick Schedule Automatic Backup Job > Select 4am, Daily > Close. Your settings should look similar to the image above.

Good news!

Your TradeStation platform does not need to be open for the auto-backup to work. Once the auto-backup routine has run you’ll receive a pop-up notice that it’s finished. So you’ll know every time a backup is made.

Lastly, check where the backup file is being saved. The default is to save it to a folder within your application folder on your hard drive. So you can still have a hard disk crash and lose the backup files. Right? So you need to make sure that the backups are being saved to a folder that is also being backed up – more about this in Step 2.

2. Use a cloud backup service, like Google Drive (re-branded Google One)

External hard drive backup devices are very popular and cheap these days. But I avoid them like the plague.

What if the external hard drive gets corrupted? What do you do if you’re travelling? What if you have a fire? What if you are burgled? The thief usually grabs everything – the backup drive too!

But fire and theft are the least likely catastrophes you’ll encounter. You know what’s more likely? You let “Little Johnny” play online computer games and he’ll accidentally download some hideous, crash-inducing virus. Or worse yet, you’ll do it yourself – mucking around with some setting.

There is a much better way. An online or cloud backup service.

They range from simple services – like Backblaze, IDrive and Acronis True Image – that continuously save a copy of your computer documents on a cloud server. To online syncing services – like Google Drive/Google One, Dropbox and OneDrive – that create a cloud-based mirror of your documents that are then available to all your linked devices (phone, tablet, work computer, home computer, etc.)

These cloud backup services are:

• Simple to operate and restore in the event of a catastrophe
• Work in the background, backing up as you go, not just once-a-day
• Very convenient if you travel a lot, and
• Cheap (approx. $55 a year, depending on storage capacity)

I’m not sure there are big differences between providers, but because I’m a Google fan (and use a dozen or so of their services) I use the Google Drive (now re-branded as Google One) service. Then I sync my computer documents to my Google Drive storage, using the Google Backup and Sync app.

3. Use a broker with “server side” order handling

What about an Internet connection failure? The worst case scenario is your Internet connection going down while you’re in a trade. In this case you might not have time to re-boot your wifi router or call your Internet provider and troubleshoot. You need to be able to manage your way out of your trade.

The simplest solution I’ve found, is to place your stop loss and profit target orders (as an OCO pair) automatically when you enter the market and use a broker who keeps your orders “server side”.

Now, what does this mean?

As soon as your buy/sell order to enter a trade is executed, a pair of linked profit target and stop loss orders will be sent to the broker’s servers. These orders will sit there – with your trade active – until either exit order is hit. Either your stop loss gets hit or your profit target gets hit. Then as soon as one of these orders is hit, the other is cancelled. That’s why it’s called an OCO (one-cancels-other) order.

The beauty of this is that these exit orders no longer rely on your Internet connection being up. The orders have been sent to your broker and they now sit on the broker’s servers – which are almost guaranteed to always be connected to the exchange – and are executed remotely.

Not all brokers have this “server side” order handling. I use Interactive Brokers and it works. However, I’ve heard from followers and customers that not all broker order entry systems have this functionality. So check first.

For a fuller explanation, with video, check out this article: Server Side Order Handling.

On to step 4 of the Trading Backup Plan.

4. Use a cell phone that can act as a mobile hotspot

Step 3 dealt with the scenario of losing Internet connection while in a trade. But what about getting your charts back as quickly as possible when the Internet goes down?

Not so long ago, the best recommendation was to have 2 Internet providers – one primary and one backup; one cable and one ADSL. But these days mobile data services are getting better and better. With 4G now the norm in most urban areas, you can get Internet speeds of 5 to 50 Mbps via your cell phone.

The simplest solution now is to use a cell phone that has mobile hotspot functionality. My Google Pixel 2 has this feature built-in and since I use Google Fi as my “carrier”, I can get data connections wherever I travel.

In the last 12 months, I’ve used the Google Fi data connection to run TradeStation in the US, Australia, France, UK, Italy and Spain without a problem. I can also run up to 5 devices at the same time – so that covers my MacBook Pro, my tablet, Mrs. Emini-Watch’s MacBook Pro and her cell phone. As a result, I’ve ditched my old portable wifi hotspot device (that frankly was always a pain to use, with different data SIM cards for every country).

5. Keep your broker’s telephone number handy

Step 5 is pretty obvious. Keep a post-it-note or printout of your broker’s trade desk telephone numbers plus your account numbers and passwords close to your trading computer.

That way, as soon as you encounter a problem, you can phone in, check your position and decide to exit or keep your stop and profit target orders in.

Fellow traders will always tell you their horror stories about how slow their last broker was to answer the phone or how stupid they were. However, in my experience, whenever I’ve had to call my broker the response was almost instantaneous and helpful. Sure, plan for the worst but sometimes you might be surprised.

6. Have a backup computer, like a Chromebook, ready to go

If you trade from home and regularly replace your computer hardware, then just keep your last machine and have it ready to go in an emergency. But if you don’t have a “home base” this is not an optimal solution. If you travel a lot, you need a second computer that’s light weight, easy to sync with your trading computer and has other uses (such as media consumption).

In my case, what I chose to do was ditch my iPad (that I only used for watching movies and TV shows) and replace it with a Chromebook. A fully spec’d Pixelbook from Google:

• Fast Intel Core i7 processor
• Maxed out 16 GB of RAM
• Beautiful 12.3″ display with 235 ppi, and
• Only weighs 2.4 lbs (or 1.1 kg)

The Chrome OS is incredibly secure and robust (here’s why fin-tech company Square use Pixelbooks). Plus it syncs with all my Google apps, so as soon as I boot it up it’s up-to-date with all my documents, applications, bookmarks, passwords, etc. I can literally have a mirror image of my trading computer up and running in seconds. Plus it’s a great replacement for an iPad to watch movies on.

However, there is a drawback. Two of my trading applications aren’t available for Chromebooks: Interactive Broker’s TWS and TradeStation.

The Interactive Broker TWS app runs on Java and is not easy to run on a Chromebook. But their browser based trading app is almost as good and so I use that instead. Finding a workaround for TradeStation though is a little harder. What I have chosen to do is have a Google Cloud Platform account set up and ready to go with a VM instance – that’s a virtual machine in the cloud running the Windows Server operating system with TradeStation loaded up.

Then, if my hardware goes down, all I have to do is activate the VM and import my latest TradeStation backup. This virtual machine, located in a Google data centre on the East Coast, is then “viewed” on my Pixelbook using Microsoft Remote Desktop software. There is a little delay when working on TradeStation remotely, but manageable. The trickiest thing was getting the screen resolutions to play nicely together.

I’ll do a full article and video on this setup later.

7. Use a laptop or power your computer with a UPS

UPS stands for ‘Uninterruptible Power Supply’. If your computer is powered through the mains, you’ll need to be prepared for a power outage. The simplest thing to do is connect your computer to the mains though a UPS. Then if the mains power goes down, your computer will keep running. This also has the added advantage of protecting you from voltage spikes, as most UPS have in-built surge protectors.

Alternatively, trade using a laptop. That way, if the mains power goes down, your laptop battery will kick in and your computer will not crash. And just in case, use a surge protector when connecting your laptop to the mains.

Summary

This article should have convinced you to:

1. Use your trading platform’s auto-backup feature. This “no brainer” suggestion takes 3-minutes to action and then you’re setup for good. So check out your platform’s tutorials and help guides.
2. Use a cloud backup service, like Google Drive/Google One. Yes, this option costs a little bit of money. But the peace-of-mind is priceless. It’s a modern solution to a modern problem.
3. Use a broker with “server side” order handling. Possibly the most important suggestion in the trading backup plan. So go check out your broker’s discussion forums or call their tech team.
4. Use a cell phone that can act as a mobile hotspot. This is an easy way to have a backup Internet connection. Just make sure your mobile carrier is not the same as your home Internet service provider.
5. Keep your broker’s telephone number handy. You’ll be stuck if your Internet goes down and you can’t do a Google search for your broker’s contact details. Write them down on a post-it note and stick them to your computer.
6. Have a backup computer, like a Chromebook, ready to go. The beauty of a Chromebook is it’s very easy to sync with your main trading computer. But you’ll need to have access to TradeStation on a virtual machine in the cloud.
7. Use a laptop or power your computer with a UPS. Lastly, be prepared for a mains electricity outage. Either rely on your laptop’s battery or connect your computer through an uninterruptible power supply (UPS).

If you’ve not got a trading backup plan or have been thinking about it and just haven’t got around to it … Just do it! You never know when disaster will strike.

• Barry Taylor from blog emini-watch.com

I been using TradeStation on a Mac since 2010. The best tech decision I ever made!

But it hasn’t all been plain sailing – Apple hardware isn’t perfect, their ‘Retina’ displays require special settings and it is definitely more expensive than running TradeStation on a PC. Here’s a summary of what I’ve learned about running TradeStation on a Mac.

I found your site when my Dell crashed last year and I was searching for info on running TradeStation on a Mac. Without your generous guidance I would never have made the switch to a MacBook Pro. Joe Russo, Elliott Wave Technology

Just a short note of gratitude regarding your idea of Mac/Parallels/TradeStation. What a fantastic concept. I just purchased a MacBook and Parallels. Downloaded TradeStation and it works like a charm. It’s faster than my desktop, probably due to the Mac SS disc drive. So again, thanks. Rick W.

TradeStation for Mac

“Emulation” software is very clever software that allows you to run the Windows operating system simultaneously with the Mac operating system. So you install the emulation software on your Mac, then you install Windows on the emulation software and then you install TradeStation in Windows.

It sounds very complicated, but really it’s not – and it’s seamless, rock solid and fast.

One of the best emulation software options is Parallels Desktop for Mac. It’s constantly being updated (it’s now on Version 15) and works very well with Windows 10. And in the latest versions you don’t need to download a Windows OS installer – it’s all built into Parallels. All you need is a (paid) product key from Microsoft to activate the OS.

Since I’m traveling most of the year a desktop Mac is not really an option. I use a MacBook Pro laptop instead. I loved the 17-inch screen version of a few years ago, but ever since Apple discontinued it I’ve had to settle for a 15-inch display. Until 2020 that is, when they released the new 16-inch MacBook Pro (see video above).

The advice below about installing Parallels and TradeStation should work equally for laptop or desktop Apple Mac users. And theoretically you could install NinjaTrader, MultiCharts, eSignal, etc. instead of TradeStation but I’ve never tried.

The Pros of TradeStation on a Mac

So here are the Pros I see in running TradeStation on a Mac:

• It works – no crashes, no re-starts, no blue screens of death.
• Real-time charts update quickly; indicator and system code is fast.
• Multiple tick bar charts, open simultaneously, are not a problem.
• No fan noise and cool – the fan only kicks in when I’m rendering video.

And then there are the usual Pros of using an Apple Mac:

• It just works – easy OS, installing/uninstalling applications, etc.
• Beautifully engineered hardware, no joints, no nooks and crannies to get dirty.
• Very quick start up (only bettered by my Chromebook, a Pixelbook Go).
• Seamless integration with iPhone, iPad, Apple Watch, etc.

Yes, no doubt PCs have come a long way since my horrible experiences with Dells in 2009 and 2010 and the awful Windows 8.1, etc. But Apple’s superior hardware engineering has resulted in laptops that almost run Windows-native software (like TradeStation) better and faster than on a Windows machine!

TradeStation System Requirements

Here are the system requirements that TradeStation currently recommends (standard to power user, February 2020):

• 8-12 GB RAM
• 3 GHz quad-core processor
• SSD hard drive with 1 GB free space
• 1680×1050 pixels or 1920×1200 pixels display
• 32-bit graphics card, 512 MB for dual monitors or 1 GB for multiple monitors
• Windows 10 64-bit

My current Mac is a 16-inch MacBook Pro that has the following specs:

• 64 GB RAM, with 4 GB allocated to Parallels
• 2.3 GHz eight-core processor, with 2 processors allocated to Parallels
• SSD hard drive with 1 TB, 22 GB used by Windows OS and apps
• 3072×1920 pixels ‘Retina’ display
• 8 GB graphics card

And this setup easily copes with TradeStation, running multiple tick charts in real-time and opening a couple of dozen tick charts simultaneously in the after hours. Remember, tick charts are the most processor intensive chart type – and my default – so I need a machine that can cope with these without ever slowing or crashing.

How to Install TradeStation on a Mac

1. Backup your TradeStation indicators, workspaces and settings (File > Backup/Restore TradeStation > Backup TradeStation > Etc.)
2. Copy this backup file, plus any purchased DLLs that live in the TradeStation Program folder, to your Mac
3. Purchase a Parallels Desktop Pro subscription (current version 15, February 2020) and install Parallels/Windows on your Mac
4. Purchase a Microsoft Windows 10 subscription, open Parallels/Windows and input your product key using Settings
5. Start the Microsoft Edge browser from within Parallels/Windows
6. Log into your account at TradeStation.com and download the latest version of TradeStation (Client Login > Login > Download TradeStation Platform > Etc.)
7. Install TradeStation and then import your TradeStation backup file (File > Backup/Restore TradeStation > Restore TradeStation Archive > Etc.)
8. Move any purchased DLLs back into the TradeStation Program folder
9. Adjust the display settings in Parallels and Windows (Parallels in menu bar > View > Enter Coherence, then View > Retina Resolution > Scaled, then Windows Settings > System > Display > 100% and 1792 x 1120 > Re-start Windows for display settings to take effect)
10. Stop TradeStation from going to sleep (Parallels in menu bar > Configure > Options > Startup & Shutdown > Untick ‘Pause Windows when possible’)
11. Stop your wifi connection from going to sleep (Windows Settings > Search for Device Manager > Click Network Adapters drop down arrow > Right click on Connection > Select Properties > Under Power Management tab untick ‘Allow the computer to turn off this device to save power’ > OK)
12. Re-assign your hotkeys, see below (View > Hotkeys > Etc.)

Lastly, I’d suggest installing an anti-virus/anti-spyware program in your Windows OS. My personal favourite is AVG because it’s light-weight, fast and less than $20.

Parallels vs Boot Camp vs VMware Fusion?

Although I opted to run Parallels software on my Mac it’s not your only choice. You could also use Apple’s Boot Camp utility or VMware Fusion software.

Boot Camp comes as a free utility with the Apple Mac OS. But it has one big disadvantage – you need to reboot your computer to switch into Windows and run TradeStation. That is, you cannot run the Mac OS and Mac apps simultaneously with Windows and TradeStation or other Windows apps. I’ve also heard reports about computers running hot while using Boot Camp and excessive battery drain.

As for VMware Fusion, when I did my original research the reviews were not as favorable as they were for Parallels. But I have heard back from VMware users and they appear to be quite happy with their tech choice.

Retina Display Settings for TradeStation

As mentioned above, TradeStation is “old school” and the way it renders a chart does not allow it to take advantage of high definition or ‘Retina’ displays. This might change in the future, but for now it’s the biggest drawback to using TradeStation on a Mac. It looks OK, but it doesn’t look great.

Normally what a program does in ‘Retina’ definition mode is draw the line (text character, etc.) thicker and with 4 times the number of pixels, so it appears smoother. Remember 4 times because ‘Retina’ is 2 times the pixel density both vertically and horizontally. TradeStation doesn’t take advantage of this higher pixel density.

Yes, you can adjust all your charts to have thicker lines and larger fonts. But the drop down menus, indicator inputs, title bars, etc. will all appear in a small font – and there’s no way to control these elements. The result is a graphic mess. And the only solution is to turn off “Retina display” in Parallels.

The display settings that work are included in the step-by-step instructions above, but a few screenshots might help clarify. Click on any of the images below to enlarge:

HotKey Settings for TradeStation

The Mac keyboard layout forced me to re-think my hotkeys. Your settings can be reached by going View > Hot Keys. Here’s what I’m currently using:

• File > Close Workspace = Ctrl+W
• File > New TradingApp Window = Ctrl+N
• File > Next Workspace = Ctrl+Right
• File > Open Workspace = Ctrl+O
• File > Previous Workspace = Ctrl+Left
• File > Save Workspace = Ctrl+S
• Pointers > Window Tracking = \
• Pointers > Workspace Tracking = ]
• Tools > Scroll to the Beginning = Ctrl+Up
• Tools > Scroll to the End = Ctrl+Down

CleanMyMac X

Since August 2018 I’ve been using the CleanMyMac utility. This great little application keeps my Mac running smoothly. It gets rid of OS bloat, removes apps completely, checks for viruses and malware and runs maintenance scripts to keep my Mac fast. Highly recommended.

Summary

This article should have convinced you that:

• TradeStation works well on a Mac. Not only is it possible to run TradeStation on a Mac but it’s fast, stable and easy. I’d rate my experience of running TradeStation on a Mac as 9 out of 10. The only issues are dealing with the ‘Retina’ display resolution.
• Parallels is the best emulation software solution. The secret is to use Parallels Desktop software to run the Windows operating system simultaneously with the Mac operating system. If you use Boot Camp you can’t run the operating systems concurrently.
• Performance is solid. Boot up times and real-time chart refresh rates are fast and certainly no worse than on a Windows operating system machine. And opening a couple of dozen tick charts is no problem with a high-spec’d RAM machine.
• But adjusting to a Mac takes time. You will need to re-learn and re-assign hotkey settings in TradeStation to make allowances for the different Mac keyboard layout. Plus you’ll have to find and adjust to all the Mac-native software, like Word, Excel, etc.
• And you might want to consider a 27″ display. Even the 16″ MacBook Pro screen is a little on the cramped side. If I could I’d get a 27″ display or dual screen monitor setup. As I get older I notice my eyesight deteriorating – and I think a larger display would definitely help.

Thank you to all the Emini-Watch followers who contributed suggestions to this TradeStation for Mac article.

-- by  Barry Taylor from blog emini-watch.com

“This is fascinating. Thank you for sharing with us.” Elie S.
There’s also a second version of the indicator code for tracking nine major Forex pairs. Another way of seeing where the money is flowing around the world. Remember, there are some major currencies that are pegged – Chinese Yuan, Hong Kong Dollar, Singapore Dollar, and Saudi Riyal – so including them in the analysis adds little value.

How to add the Better Rotation Indicator to a chart

These instructions are for TradeStation and the ‘Better Rotation Asset Class’ version of the indicator. Start with a new Workspace:

1. File > New > Workspace
2. File > New > TradingApp Window > Chart Analysis
3. Format > Symbol > Settings tab > Symbol field input SPY > Select Weekly interval and 20 years back > Scaling tab > Sub-graph Hidden > OK
4. Insert > Symbol > Symbol field input EEM > Tick Prompt for format > Plot > Scaling tab > Sub-graph Hidden > OK
5. Repeat the step above for TLT, LQD, HYG, DBC, GLD and lastly IYR
6. Check you’ve input the symbols correctly by going Format > Symbol and you should see the same thing as the image above
7. Insert > Indicator > _Better Rotation Asset Class > OK
8. Insert > Indicator > _Better Rotation Asset Class > Tick Prompt for format > OK > Inputs tab > Change Normalise input to True > Check the Lookback value is 52 > OK

The steps for adding the ‘Better Rotation Forex’ version of the indicator are almost the same. Just add the following symbols (hidden) to a new chart:

• EURUSD (Euro)
• AUDUSD (Australian Dollar)
• GBPUSD (British Pound)
• NZDUSD (New Zealand Dollar)
• USDCAD (Canadian Dollar)
• USDJPY (Japanese Yen)
• USDCHF (Swiss Franc)
• USDMXN (Mexican Peso)
• USDZAR (South African Rand)

Then add the Forex version of the indicator. Please note there is no ‘Normalise’ input with the Forex version of the indicator. Instead the bold white line calculates the average of the nine Forex symbols and shows what they are doing (on average) against the US Dollar.

You can download the code for this indicator by visiting Barry's site, here.

— by Barry Taylor from blog Emini-watch