Describe a trading-related app worth developing

Dave S. said:
Interesting. I'd love to hear your thoughts on gamification of trading.

One of my side projects was a futures market with contracts denominated in Bitcoin. In other words, I provided a bid/ask spread for S&P, Crude, Gold, etc. and let users margin their trades with Bitcoin instead of USD. It was a tiny exchange. Users were bored college students mainly.

It generated a few thousand dollars per month (in Bitcoin) with zero advertising but quickly plateaued. After I shut it down, I asked a few users for their opinions on the site, why they didn't come back, etc. I was told that my user interface, though functional and efficient, wasn't terribly exciting. The recommendation to "gamify" the experience was made by a few people I respect, but I never was able to get a handle on exactly what it was they were suggesting.
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Just take what casinos do and adapt it.

Gamification is relatively easy in that respect. What triggers lizard brain responses? Progressive but unpredictable dopamine hits. Oh you made 40 trades this month? Here's lunch on us. Welcome to our super duper trader club - 5% of your next rebuy and priority order book placement for your next 10 trades. Bright shiny trade buttons and encouragement to rebuy. Blinkenlights when you make a good choice and support when you make a bad choice "seems you've busted out - rebuy and get 80 bonus points!" Shit like that. Casinos have been manipulating the human brain for nearly a century now. Why try to reinvent the wheel. Just don't get crossed up as a gambling operation itself. Stupid tech people overcomplicate a simple biology problem.

Funny I asked this question something like 3 months ago and got flamed to the point I closed the topic lmao.
 
Dave S. said:
I'm coming off a career designing analytical apps for FCMs, hedge funds, and other financial services firms. Boiling it down, most of my work has been pretty screens and reports to analyze and rank trader performance, analyze portfolio risk in real-time, fire alerts, etc.

A lot of my work has also been in the area of hedge fund administration: Keeping track of pool investors, master/feeder interactions, allocation of P/L and fees, etc. So accounting tools, in other words. Not terribly exciting stuff but it paid well.

So now I can either retire or pursue another project. With that in mind, I'm trying to get a sense from the trading community if there's some software/app market niche that hasn't yet been filled -- or perhaps one that HAS been filled, but the product(s) are just too expensive for retail trader use.

I was thinking of building a platform that would hook into trader accounts at IBKR and other trading firms, provide in-depth performance analysis, allow users to share their data with other site users, maintain leader boards, create funds and apply fees, etc. But it looks like FundSeeder has that game pretty well covered; and they're offering it free of charge. Anything else you personally would like to see built?
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I wish to see retail versions of the "Not terribly exciting stuff". Retail trading landscape is mostly a video game or mental masturbation.
 
I hate tws which freezes frequently if I submit 10000 orders. I wonder why there is not any other alternative broker competing with ib?
 
trend2009 said:
I hate tws which freezes frequently if I submit 10000 orders. I wonder why there is not any other alternative broker competing with ib?
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You can use other software with IB. But why do you want to submit 10000 orders anyway?
 
DevBru said:
Ninjatrader, SierraChart, Dastrader, Tradestation, ...
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I am confused using dashtrader with interactivebrokers. In this case, if I send 10000 orders to ARCA, will the order be sent to ARCA directly by dashtrader? does IB know the 10000 orders I send to ARCA?

suppose dashtrader sends my 10000 order to ARCA directly, if the order is filled, cancelled, or expired, the order information will send back to IB directly, or send to dashtrader which routes the information back to IB?

since I send orders via dashtrader, I do not use IB resources to send orders, will IB still calculate my order fill ratio, and complain low fill rate?

please explain. thank you.
 
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Here's an idea for you, something desperately needed by many traders.

Many of us multiple brokers. Whats needed is a portal that would allow a single order entry ticket to be sent to multiple brokers based on the allocations selected. It should support bracketed orders.

It would be nice to include simple buy, sell, flatten buttons as well.

Maybe have pings to the brokers, if one is unreachable, unusually slow, or unreliable that day it could be auto removed from the routing choices.

I bet the first one to pull this off will make a killing.

Down the road it would be great to support the more complex order types, ECN selection, & have routing schemes the customer can control based on the broker & exchange trading costs/rebates.
 
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trend2009 said:
I am confused using dashtrader with interactivebrokers. In this case, if I send 10000 orders to ARCA, will the order be sent to ARCA directly by dashtrader? does IB know the 10000 orders I send to ARCA?

suppose dashtrader sends my 10000 order to ARCA directly, if the order is filled, cancelled, or expired, the order information will send back to IB directly, or send to dashtrader which routes the information back to IB?

since I send orders via dashtrader, I do not use IB resources to send orders, will IB still calculate my order fill ratio, and complain low fill rate?

please explain. thank you.
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Of course IB will know the orders you send to the market. In this case Dastrader is just the software, IB still the broker.

What is your order fill rate? On average.
 
DevBru said:
Of course IB will know the orders you send to the market. In this case Dastrader is just the software, IB still the broker.

What is your order fill rate? On average.
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I guess around 100. Using dash trader will let IB not complain about low fill rate?
 
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