Seems to be a lot of quote pblms going around. I showed the S&P at 26 yesterday at one point. Pretty much screws up your analysis unless you're willing to get in there and edit, if possible.
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EchoTrade offers new software
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Quote from GHJ:
Man. People are really shoveling the horsesh!t on this thread. Here are just a few of the more enjoyable quotesâ¦
"This is the first platform available that not only automates all entries, but also automates all exits."
-Box
No offense but you are moronic. Tradestation and Neovest have been doing this for at least two years and this has been possible on institutional platforms like Flextrade forever.
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dude, or dudette,
Calling me moronic is well, moronic in itself. I was simply quoting the press release.
appears you had a shovel in hand...
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ECHOTRADE ANNOUNCES REVOLUTIONARY NEW SOFTWARE FOR PROFESSIONAL TRADERS
Predator Pro Provides Platform for ECHOtraders to Automate Their Own
Strategy
Chicago, Illinois - July 11, 2003 - ECHOtrade* today announced the
availability of Predator Pro*, a new software platform that offers
professional traders a way to automate trading strategies. Predator Pro
allows traders to customize and apply strategies to a much larger
quantity of stocks than they are able to monitor manually.
Created by professional traders, Predator Pro has key strategies built
into the advanced tick filter/stock analyzer system that traders can
utilize, or they can enter their own strategies, sit back and let the
computer trade for them. The computer simply enters and exits any
stocks that match the applied criteria. Once the program is set up, the
trader's role becomes one of monitoring the computer and active trades,
then adjusting the criteria or program as necessary. This is the first
platform available that not only automates all entries, but also
automates all exits.
Predator Pro automates the key aspects of trading, including opening
orders, envelopes, basket trading, gap finding and auto-gap entries,
spreads and pairs, and sector trading. The program also contains
advanced controls, including ECHOfilters*, the proprietary bar-filtering
method that shows real-time V-returns to high, V-returns to low, inside
reversals, approaches, and more.
Traders can do advanced position management and hot/cold sector trading,
as well as use the S&P futures monitoring tool to avoid orders being
sent on the wrong side of a futures move. Other built-in tools allow
traders to rank the top stocks beating their average daily volumes, and
the top last 15-minute volume spikes.
All ECHOtrade traders are invited to try out Predator Pro for one-week
at no charge. This special trial includes all components of the
program. Subscription packages are designed to offset programming fees
for continuous upgrades and enhancements that are released weekly, and
range from $50 on up per month depending on which components of the
software are selected. This offer and software are available to
ECHOtrade members only.
Visit www.predatorpro.com <http://www.predatorpro.com/> for more
details and to download the free, one-week demo. Contact Rob Keller
toll-free at 866-700-ECHO ext. 107 for questions or Dan Salamone at
312-260-5712 for help with software set up.
ECHOtrade is a professional trading firm dedicated to the
needs of the serious, off-floor trader. While only professional traders
may open an account, the company also sponsors new traders interested in
obtaining their Series 7 license to pursue trading with the company.
For more information, visit http://www.echotradeonline.com
<http://www.echotradeonline.com/> or call 866-700-ECHO.
*2003 ECHOtrade, LLC. All rights reserved. ECHOtrade and ECHOfilters
are registered trademarks of ECHOtrade, LLC. ECHOtrade is a member of
the Philadelphia Stock Exchange. ECHOtrade does not solicit retail
accounts. Please note that trading securities involves substantial risk
and there is no guarantee that your trading will be profitable.
Getting upset because of one sentence in a press release is like getting upset over 16 words in a state of the union address... From what I have reviewed TS is not fully automated and does cost more. Neovest is also more costly but it does look fully automated.
Bottom line, the software works, it is affordable and it is indeed a good black box trading system.
Bottom line, the software works, it is affordable and it is indeed a good black box trading system.
Raven worked as advertised today. And no quote problems either.
Did decently in opening orders today, 9 fills. That was probably more than I could have comfortably handled manually. I did watch it like a hawk, but resisted the urge to take over. I am pretty sure Raven did a better job than I would have. I am confident I would have exited my winners too early.
I am hoping to soon have enough confidence to let Raven handle the opening orders while I try to put on some trades of my own. I let a good short on LEH get away from me this morning because I was too involved watching my opening orders.
Did decently in opening orders today, 9 fills. That was probably more than I could have comfortably handled manually. I did watch it like a hawk, but resisted the urge to take over. I am pretty sure Raven did a better job than I would have. I am confident I would have exited my winners too early.
I am hoping to soon have enough confidence to let Raven handle the opening orders while I try to put on some trades of my own. I let a good short on LEH get away from me this morning because I was too involved watching my opening orders.
Quote from bro59:
I doubt Echo is stealing strategies. If they do strategy mine their top traders, they aren't sharing what they glean with the likes of me but are keeping/trading it among the partners in the firm.
Automation isn't so much about a specific strategy. What works now is always changing for the most part. Rather it is about expanding your number of trades manageable for a given strategy, and it is largely about forced discipline.
It appears to me that Predator Pro as offered to average joe type traders at Echo encompasses no "stolen" strategies.
you mean that they aren't sharing strategies, and there's no place to get tied in to?
hmmmm
There is no such thing as a "stolen strategy". Anything that can be done has already been done before!
Front running, now that's another matter, but you can even make that work to your advantage too if you find that is the case.
Automation is not an edge, only a way to expose your edge to more opportunities. You have to be a good trader to begin with to take advantage of automation.
Front running, now that's another matter, but you can even make that work to your advantage too if you find that is the case.
Automation is not an edge, only a way to expose your edge to more opportunities. You have to be a good trader to begin with to take advantage of automation.
Quote from esc_trader:
There is no such thing as a "stolen strategy". Anything that can be done has already been done before!
Front running, now that's another matter, but you can even make that work to your advantage too if you find that is the case.
Automation is not an edge, only a way to expose your edge to more opportunities. You have to be a good trader to begin with to take advantage of automation.
I disagree with the first part. I know for a fact that part of my strategy is not being done by anyone. If it was stolen I would no longer get fills. IMO people who don't believe there are secret strategies have just never found one.
The last part I do agree with though. Automation is a great tool, but without experience it can be very dangerous.
Yes, the generalities of a strategy are not knew, but the subtleties of how someone trades it can be proprietary. For example, arbitrage is not new, but the instruments traded or the way they are traded can be someone's edge. When those details are coded into software and put for sale on the internet, it can dilute it to the point of not working anymore.
Quote from lescor:
Yes, the generalities of a strategy are not knew, but the subtleties of how someone trades it can be proprietary. For example, arbitrage is not new, but the instruments traded or the way they are traded can be someone's edge. When those details are coded into software and put for sale on the internet, it can dilute it to the point of not working anymore.
self congradulatory comments....
sometimes realism with realistic examples of your own success with these techniques adds what's missing...creditability....
Uh....what?
I wasn't commenting on my trading, I was agreeing with Dustin's comment that some strategies can indeed be proprietary and that if they are made publicly available, the strategy can lose it's edge. I used arbitrage as an example, because it's particularly susceptible to being affected by more participants in the marketplace.
I wasn't commenting on my trading, I was agreeing with Dustin's comment that some strategies can indeed be proprietary and that if they are made publicly available, the strategy can lose it's edge. I used arbitrage as an example, because it's particularly susceptible to being affected by more participants in the marketplace.