My experience

Rickbw

New member
I was using Tradier brokerage with OptionNet Explorer. I just switched to TradeHawk. If anyone wants feedback about OptionNet, I will gladly give it in a private message.
 

norm smith

New member
I was using Tradier brokerage with OptionNet Explorer. I just switched to TradeHawk. If anyone wants feedback about OptionNet, I will gladly give it in a private message.
Ive been considering ONE as my OV is coming up. Ken's really great on customer service for OV but there are other issues. I have no experience with ONE
 

Simon

Member
Hi Rick

yes please PM me your thoughts on ONE. I have been using it for several years now.

Good trading

Simon
 

SG

New member
I have been using the trial of ONE and I find it interesting, providing a little bit different view than what TOS shows. I am still not sure it gives that much more than TOS to justify the price, but maybe I am not looking at the features for what it's intended for. I am using the beta 2.0.59 version and I find it odd that you can't put multiple T+ lines on the risk chart like you can with TOS. Maybe that is because the lower half of the risk chart needs to reflect whatever T+ line is being shown, which would make sense. I used OptionVue for a very short period of time and liked the probability feature (which I haven't found in ONE if there is one), but OptionVue is extremely expensive. I like the trade log feature in ONE, except that I can't figure out how to edit it to add additional comments or make changes to trades so they match up with my ledger from TOS. One last thing I can't seem to figure out in ONE is how to set up the margin on a trade so it reflects the margin in TOS. Maybe I am confusing the two pieces of information. For example, right now in TOS I have a Boxcar trade for NFLX which shows a BP Effect of $3,000, yet the margin amount shown in ONE is $3713.94. I have tried the different margin options in the configuration section, but they all seem to have no effect.

Anyway, I have about a week left to decide on moving to the non-trial version. If anyone has any comments about the best route to take, it would be helpful.

Thanks,

Steve
 

gariki

New member
One of the best features of ONE in my opinion is the ability to see the PnL curves both before adjustment and after an adjustment in one screen. Also to change the adjustment easily on the ladder (apart from backtesting). I wish you can see before and after pnl lines on tos. Maybe you can.. if so i am all ears (i am secretly hoping someone knows a way to do that somehow).

For matching your tos fills with ONE best way i found is to ignore individual leg prices; and just key in the spread prices. Thats what that matters anyways. HTH.

-gariki
 

SG

New member
Yes I do like that feature ... is there any way to apply potential changes like IV increase/decrease to model the impact on the PnL?
 

Marcas

Member
SG, I do not have ONE anymore, so I can't post any pics.

You can have multiple t lines - check drop down above graph on the right.

You can adjust Vol (very limited) - play with vol box above chart on the left.

You can edit log, click on a cell you want to change to edit it. You can also import trades from TOS to have exact history. Ignoring individual leg prices is not a good practice, imo, although it can work with certain type of trading.

I can't help with margin, I've never payed attention to this.

My advice re ONE. Make sure you you have good reasons to spend money for it. Some traders need it for JL's style of backtesting, some need it track p&l of their positions, some want to have ONE without any particular reason - just because others trades use it .
 

JackS

New member
My experience is you simply cannot rely on the broker application for p&l. You need something like ONE to be more unbiased and reliable. What I really like about ONE is how the expiration and T+0 lines change with volatility and special events (e.g. ex-div). Using TOS or even my favorite, tastyworks, you can't really see what is real or what possible future outcomes will be. With ONE, it's doable - still difficult, but doable.
 

Marcas

Member
Mark17, there are some people who don't give BT much credence. I'm one of them.

ONE/OV is good for very simplistic BT.
Firstly, doing it ONE's way is a very tedious process. You have to be focused all the time and monitor many parameters of the trade or repeat BT over and over to catch what it is you are interested in at given time. So, you need plenty of screen time and constant awareness of what is going on. That is if you want to BT in valid manner.
Secondly, even if you BT on all available data there are pletora of possible market scenarios that is not in the data. If you are not fully aware of this pitfall, you may easily full yourself into false confidence.

I can go on and on, but if you want, look up past posts. I think I wrote few words on the subject. Bruno V also doesn't esteem ONE's BT features although for different reasons than I (and others but you have to look for yourself).

That said, ONE's BT is ok for fresh trader as it helps getting familiar with given strategy bit faster. Unfortunately this method introduces few bad habits that can be hard to change later on. I think popularity of OV/ONE is primary due to gurus/mentors using them as teaching aid (because it is good teaching tool, independent of any broker).

This is a short answer to your question.

And just to be clear: I'm not saying that BT is completely useless.

There also may be instances where ONE is quite useful, like in reviewing past trades. ONE is not the only option but not the bad one. Just it isn't BT you asked for.


JackS, true, monitoring open and past trades is little easier done in ONE than in TOS but only for 'slow' moving strategies. If you are more active trader, using ONE is big pitb. Tracking p&l in TOS is definitely possible.

My opinion is that instead spending time and money for ONE better invest time in learning any basic coding. Maybe this is not as 'cool' as learning new software but pay-off is so much greater. Coding is not that hard but you must be willing to work bit harder than pushing buttons on screen.

I also want to mention that you can become good trader without ONE or coding at all - probably even better trader, but it depends...

Those are my private opinions. I recommend listening to other side and decide, after deeper thought, what is what you want to achieve.
 

JackS

New member
Yes I do like that feature ... is there any way to apply potential changes like IV increase/decrease to model the impact on the PnL?
Yes, at the top left of the pnl chart, there's a volatility box, just up arrow or down arrow to see what volatility changes do to your trade.
 

Mark17

New member
My opinion is that instead spending time and money for ONE better invest time in learning any basic coding. Maybe this is not as 'cool' as learning new software but pay-off is so much greater. Coding is not that hard but you must be willing to work bit harder than pushing buttons on screen.
Learn basic coding for what purpose?
 

Marcas

Member
Learn basic coding for what purpose?
Mark17, this is another topic one can write treaty on. If you work with computers at all, learning how to code can speed up whatever you are doing. Even simple watching Youtube can be improved by cutting off any adds (not to mention about blocking trackers and other annoyances). But let's focus briefly on trading only.

Back to BT - if you do backtesting JL style (for what I see it is very popular method) by coding your own auto-BT allows you to save huge amount of time over long run. What will require days or weeks to accomplish with ONE/OV can be dome in secs/mins when you automate the process. Then you keep a fresh mind to analyze output data while with ONE you are usually tired after long BT session. Next. With your own code you can extract exact data you are looking for while with O/O (ONE/OV) you are limited to what they offer. For example, if you wish to study behavior of third order greeks - no problem, if you want to track sqrt(vega*theta^2)/(3delta/8) ratio (make up example) - you can do it with ease and quicly compare how it changes across various trades. Heck, you can run autoBT on multiple trades or multiple trading rules at once and spent rest of the time analyzing data.
Or, to take simpler example, you can create a graph to see all delta changes through the time you were in trade.

There are automated BTs out there that you can buy/rent but they are not written with you in mind. If you want to use any soft written by somebody else you will cave to his way of thinking or you have to put extra effort to overcome this.

Trading - you can write tools to aid your trading. If you know what you are looking for, like this ratio I mentioned above or just simply to find best trade for parameters you use, you can write yourself such a tool - very doable if you know coding and quite helpful.

You can write code to analyze your past trades the way you want. You don't have to adjust your expectations to what O/O offer.

You can analyze markets in a way not available to O/O, to find edges for your trading - your imagination and needs are the limits and guide.

If you are trading multiple accounts you can manage those accounts from one place the way you want (Tom's example).

And so on, and so on. I can't think of all applications.
If you know coding you can tap to works of others willing to share solutions for free via Git and other sources and modify other's code to your needs.
All I said above refers to writing code for yourself/friends, if you want to write something to sell, like better ONE - then this is bit different story.


There are downsides of course. You have to spent time to learn some coding language. If you enjoy this type of activity - no problem, if you don't just code what is most important to you and be done. (Actually there can be a problem if you enjoy coding - you can end up writing lines of cool code that nobody needs, including you).
Other important issue is data for your code. You have couple options, some free, some paid - depends what you need. If you trade many underlyings ONE can be a good choice as plenty of tickers are included in subscription, but then, again - depends on what kind of data you need.

You got the idea.

I just want to repeat what I said before: you do not have to code to become a good trader.
 
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