Reader John asked:
I just got done reading your book and I loved it. I thought it was the best trading book I have read. I have been a full time prop trader for 6yrs. and read a lot of books and found yours extremely valuable and enjoyable. Your book spoke directly to me as a very active prop trader. Thanks.
I am interested in recording my level 2 and screens in order to review my trades after the close. What software do you use to record and watch your screen shots?
Our new traders record their trading. Then they watch back their trades during the midday and after the close. Also we watch film together in our training room, which we call SMB Tradecast. We do this so our new traders gain screen time. To get better as a trader requires more screen time so recording your screens is an excellent way to speed up your learning curve and move forward as a trader.
I use My Screen Recorder software. Others on our desk use Camtasia.
A few things. You will have to play around with which is best for you. Some computers slow down when these softwares are added. So watch your CPU after your add. Second, watch your tape religiously. The hardest thing about becoming a consistently profitable trader is becoming a consistently profitable trader. Meaning trading is not that hard save for those who are not consistently profitable. There is a learning curve that we all have passed. It is a trading right of passage. Anything you can do to speed your learning curve will improve your chances of success. This is one very valuable training technique.
Author, One Good Trade: Inside the Highly Competitive World of Proprietary Trading (Wiley Trading)
ThinkorSwim has a market replay feature to further aid review (have yet to use it, but hopefully it includes level II). Nasdaq’s Market Replay is pretty useless for this purpose on the other hand.
Stocktickr.com is also extremely helpful in examining trades by volume, price, etc. It supports a wide range of platforms, IB, Sterling, Redi, etc and overlays transactions on a chart. Dave is great with customer support.
Studies show very few conduct postmortems across a wide range of professions. Have been trading for nearly 10 years and now review all trades at the end of the day. Reviewing one’s trades has turned around the career of many a trader, including myself after taking a hit in 2008.
I have used Camtasia Studio, works excellent for this …good luck
Can anyone give me an idea of how much storage space it would take to record each market session if I’m running two screens at 1900 by 1200? Also, what should be the minimum specs of a computer that can do this without any noticeable slowdown?