Creating Algo for MORE Intraday Trades

alex314159 said:
Re IBPy being a third party tool - it's definitely a concern, but there seems to be a wide user base happy with it.
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This tool is simply a wrapper around IB's API functions...it is nowhere near a real trading platform. There's no built-in circular buffer, no optimization, no trade statistics....all of that must be built from the ground up.
 
syswizard said:
This tool is simply a wrapper around IB's API functions...it is nowhere near a real trading platform. There's no built-in circular buffer, no optimization, no trade statistics....all of that must be built from the ground up.
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Personally, I'd rather build my circular buffers myself. It's just an array and a pointer/index anyways. No need to import external dependencies for such simple things, and often they don't solve exactly what you need.
 
Great thread. I have built a complete infrastructure in Python, mainly using the machine learning capabilities of scikit-learn. The EOD data is easy, but what would y'all recommend for a Python API to intraday data? Tradier looks interesting.

Regards,

PTR
 
Trader Nomad said:
Hello all,

First post. I've been a FT trader for 5+ years now but am completely new to the automated trading scene and have no experience with C++ or writing code for anything for that matter. I would like to develop an algo for use on IB's API.

This particular intraday strategy works well if I can apply it to ALL the stocks I have chosen to apply it to that day (typically 6-12 stocks) but I can usually only get entries and exits properly in 2-3 stocks doing so manually. If I can get proper entries and exits on every stock, the law of large numbers would overtake Murphy's Law (strategy has been back tested thoroughly).

I want to be able to manually input each stock, appropriate share sizes, and be able to cancel the orders if the bid/ask spread gets too wide or other things happen that make the trade risky or not worth it. The only variables or inputs are to do with price (no volume or any other indicators).

The strategy is fairly simple and I would think developing the algo wouldn't be too difficult but again I know almost nothing about coding. Should I go the route of learning the process myself or hire a dev to create the algo for me? Any advice/opinions would be appreciated.

Cheers,
TN
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You are headed down a tunnel where there is no cheese. Your journey may provide hours and hours of amusement, frustration, and hope, but it's a dead end as far as profit is concerned. Enjoy!
 
Steve Alexander said:
You are headed down a tunnel where there is no cheese. Your journey may provide hours and hours of amusement, frustration, and hope, but it's a dead end as far as profit is concerned. Enjoy!
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There's no profit in intraday trading? in automated trading? what are you trying to say?
 
d08 said:
There's no profit in intraday trading? in automated trading? what are you trying to say?
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I kind of wish he'd elaborate on that statement. I'm assuming he's implying that we're all fooled by randomness.
 
Steve Alexander said:
You are headed down a tunnel where there is no cheese. Your journey may provide hours and hours of amusement, frustration, and hope, but it's a dead end as far as profit is concerned. Enjoy!
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Not if he is able to emulate these guys....https://en.wikipedia.org/wiki/Renaissance_Technologies

"From 2001 through 2013, the fund’s worst year was a 21 percent gain, after subtracting fees. Medallion reaped a 98.2 percent gain in 2008, the year the Standard & Poor’s 500 Index lost 38.5 percent."

— Rubin and Collins. June 16, 2015. Bloomberg
 
Steve Alexander said:
You are headed down a tunnel where there is no cheese. Your journey may provide hours and hours of amusement, frustration, and hope, but it's a dead end as far as profit is concerned. Enjoy!
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You are mistaken, the guy is a full time trader to begin with.
 
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