advice on automated trading tools

taylor al · Sep 23, 2005

Hi,

I work in the European commodities market. I want to develop a programmatic trading engine to link up to a generic trading API.

Want to be able to execute based on simple rules that can be defined by trader on the fly.

Any advice would be much appreciated,

Al

jason_l · Sep 23, 2005

If you're looking to have the framework custom coded, you'll want to find programmers familiar with:
1) FIX (they can figure this out on the job though, no biggie)
2) creating interpeted languages, rules engines.

#1 is the API, #2 is to let the traders be able to expres their rules in a "non programmer" manner, on the fly. Anyone that can do #2 is going to be expensive. I run a small IT consulting firm, and I'd expect to pay $80-$100/hr for such a person, maybe even more.

taylor al · Sep 23, 2005

Thanks for the reply-i was wondering if there are off the shelf packages to provide this functionality.

Choad · Sep 23, 2005

Quote from taylor al:

Thanks for the reply-i was wondering if there are off the shelf packages to provide this functionality.

Off the shelf? I wouldn't trust them.

Best bet IMHO is DIY. All you need for a complete backtesting and profitable automated trading system:

http://www.amazon.com/exec/obidos/t...-5504537-2518305?v=glance&s=software&n=541966

http://www.interactivebrokers.com/en/software/api/apiGuide.htm

A bit of work, maybe, but nothing worthwhile is ever easy.

Truff · Sep 23, 2005

Quote from taylor al:

Hi,

I work in the European commodities market. I want to develop a programmatic trading engine to link up to a generic trading API.

Want to be able to execute based on simple rules that can be defined by trader on the fly.

Any advice would be much appreciated,

Al

If your looking to automate your system with simple rules you can use esignal or tradestations e-z language to auotmate it then use a system like tradestation or Automaven(division of Trademaven) to execute the signals. very easy

65Matt · Sep 23, 2005

Tradestation is some powerful stuff, don't be fooled into thinking that EasyLanguage is limited or for beginners.

nononsense · Sep 27, 2005

Quote from 65Matt:

Tradestation is some powerful stuff, don't be fooled into thinking that EasyLanguage is limited or for beginners.

You are quite right. It's a great help for that great majority of loosers.

squeeze · Sep 27, 2005

Quote from taylor al:

Thanks for the reply-i was wondering if there are off the shelf packages to provide this functionality.

There is a list of software here that might help.
http://www.tradingmachines.net/dir_automation.html

Quanstudio has a built in FIX engine so might do what you want.

prt_systems · Sep 27, 2005

Quote from jason_l:

If you're looking to have the framework custom coded, you'll want to find programmers familiar with:
1) FIX (they can figure this out on the job though, no biggie)
2) creating interpeted languages, rules engines.

#1 is the API, #2 is to let the traders be able to expres their rules in a "non programmer" manner, on the fly. Anyone that can do #2 is going to be expensive. I run a small IT consulting firm, and I'd expect to pay $80-$100/hr for such a person, maybe even more.

Actually your rate is about half what a qualifed person would get to build something from the ground up..... However.....

There is very little demand/need anymore to create customized rule engines from scratch. The number of off the shelf commercial products, and open-source products that are available to use for these purposes is sufficient. The only enitities that are building these from the ground up are larger software houses that have a full product to market - no niches really left to fill - or very large trading organizations (and within these firms their needs have largely been met).

DarthSidious · Sep 27, 2005

Quote from nononsense:

You are quite right. It's a great help for that great majority of loosers.

Only losers blame their tools for their failure. The strategy for fast scalping can't be done with TS automation, but there are other strategies, quite profitable I might add, for which TS is just fine.

I am profitable consistently, and all my stuff runs off of TS. However, I am also working on homebrew stuff in Java/IB API for things that TS can't do. But TS CAN do a lot.