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In a sentence...they have vast amounts of insider knowledge (some legal, some illegal) and the ability to trade in such a size that they can move the market.

At one point a few years back, whilst admittedly very bored, I actually tried fading every 'expert' opinion on CNBC for a week (small bets) to see if I made any money. Gave up after only a few hours though because I couldn't hack listening to all the banale bullsh*t they were spouting.

And I remember now... I also couldn't figure out how to programmatically get access to the level II datastream. And that's when I stopped evaluating it.

I actually looked at RightEdge before getting to NinjaTrader and liked the demo a lot. The developers have obviously planned it properly and the API is much cleaner than NinjaTrader's mess. The environment has also been modelled on Visual Studio in the same way OpenQuant have modelled theirs...

Well, I'm not fussed about busting a gut to shave milliseconds off because my trading strategies aren't that time critical. But I'm always going to avoid performance penalties if I can and will always go for the most optimal solution which meets the business requirements. I really couldn't...

Yep. Having spent the last half hour reading up on them this is a classic example of where commercial open source ends up costing more than proprietary software. Also, for various reasons I prefer C# as a language and really want a native .NET app...not some bastardised .NET/Java hybrid...

Actually... Here's an open source project that looks interesting. Didn't spot this the first time around. http://www.marketcetera.com Anyone have any experience with these guys?

I totally agree. I am not looking for anything other than a decent stable platform to handle the boilerplate stuff. I don't want anything whatsoever relating to actual trading strategies. The real problem here is there simply aren't enough serious quants such as us in the retail market to...

Yep, thanks Mandelbrot. That was one of the first things I read when I arrived at this site. I had a look at some of the open source stuff like EclipseTrader and ActiveQuant, but immediately smelt the usual issues oozing out their platforms. I've learnt in the last few weeks that this is...

You are probably right Chaos. It was always going to be a long shot... And in any case, I have a natural aversion to open source projects anyway as they have such a nasty habit of being derailed by the pathetic politics and petty power struggles that seem to always plague small developer...

OK folks. I really can't believe I'm saying this as I've already lost far too much of my life to open source projects which have gone nowhere...but can anyone please recommend some solid open source .NET trading platforms? They must be active projects with a large user/developer community...

Obviously this depends on your timescales/exposure etc. but if I ever lose my datafeed I just flatten all my positions immediately. No way will I risk having open positions when I don't know what's going on. Then once I get reconnected I just wait for the strategy to have collected enough data...

Zen-Fire is cracking. Truly brilliant. By far the best retail data feed for the instruments it handles. I think I'm going to spend some time seriously looking into OpenQuant again whilst I wait for NT7. The NT guys say the beta will be out before end of quarter. That should give me a pretty...

I wasn't refering to the size of their positions...but the software platforms the quant hedgies use. I've only been exposed to a small number, but those that I have had dealings with were all dependant on fast and reliable platforms. All of them had been custom built by the hedgie themself at...

Many thanks to those who have commented on this thread and the many people who have PMed me. Seems like, having come to the same conclusion as me, several of you are building your own platforms from scratch. Thanks for your invitations to work on these platforms with you, but unfortunately I...

Hi everyone, I'm currently evaluating the NinjaTrader platform with a view to using it for running fully automated strategies. I have to say that after spending a week running loads of data through it and assessing the architecture, I am really disappointed. The longest I have managed...

Circadian - I'm guessing you have learnt nothing from this thread except that techies will fight to the death to try to prove that their skillset is more useful than someone elses. Someone with an MS background will pretty much always maintain that MS is better than Linux, and vice versa. It's...

If you asked a direct question related to what you want actually wanted to know you might get a few more responses... Nobody here is just going to read this and write you an essay outlining the mechanics a dark liquidity.

You've hit the nail on the head there. Most retail traders assume that the guys working on the desks in the big banks must be better at trading than they are. Believe me when I say that this simply is not true. It's quite liberating when you accept this as fact because it unshackles you from...

Yep, obviously there are degrees of automation. A lot of the institutions use randomisation algos to divide up large orders and then spray a steady stream of randomly sized smaller orders into the book in an effort to stop anyone tracking their moves. IMHO most fund managers are glorified...