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IB API Programmers
- Thread starter jones247
- Start date
Quote from Bluegar3:
are you smoking crack?
Thank you for your thoughtful response Bluegar3.
If you insist that the developer coding your application must have a proven record of creating IB/TWS/API trading software and that the software must have been trading live for some time, they run $100/hour at least. Including spec time, development and test, I'd say 2 weeks (= 100 hours) is optimistic. Even four weeks is aggressive.
If you have the track record and works for less, you should have a good business.
For most, the better choice is Amibroker, eSignal, trade station, Metastock etc. where most strategies can be coded up in a few hours.
Quote from promagma:
You get what you pay for.
I can't agree more.
I don't understand why some think they can save a few bucks in hiring the lowest bidder but don't understand that bad programming can cost them real money in the long run.
Programming a simple call to place an order on IB is simple. But a real application has to be robust and not only handle the simple tasks but handle and recover from the unexpected. Redundancy is the key to any financial app and most paint-by-number programmers don't understand this concept.
Go ahead and hire the cheap programmer; then when the program fails in the middle of the day and you have open trades losing money, you will understand why real programmers deserve their fees.
Quote from zgtrader:
I can't agree more.
I don't understand why some think they can save a few bucks in hiring the lowest bidder but don't understand that bad programming can cost them real money in the long run.
Programming a simple call to place an order on IB is simple. But a real application has to be robust and not only handle the simple tasks but handle and recover from the unexpected. Redundancy is the key to any financial app and most paint-by-number programmers don't understand this concept.
Go ahead and hire the cheap programmer; then when the program fails in the middle of the day and you have open trades losing money, you will understand why real programmers deserve their fees.
And that's just to start with. There is also the issue of ongoing support and/or modifications and enhancements. If the dirt cheap bloke gets a proper job, it is quite likely that they may have very little interest in continuing the relationship.
Programming it is no big deal, but as has been mentioned, to do it correctly would take some time.
But the bigger problem, is that without a real and defined edge it is very likely to fail to make money. Or it might make some for a while, then...boom...
No shortcuts to success. Learn to backtest with a good off the shelf program. There are plenty for sale. Then try it with small positions and real money. And not just for a day or two, run it for weeks and log the trades.
Just a thought. Good luck to all.
But the bigger problem, is that without a real and defined edge it is very likely to fail to make money. Or it might make some for a while, then...boom...
No shortcuts to success. Learn to backtest with a good off the shelf program. There are plenty for sale. Then try it with small positions and real money. And not just for a day or two, run it for weeks and log the trades.
Just a thought. Good luck to all.
Quote from vikana:
Thank you for your thoughtful response Bluegar3.
If you insist that the developer coding your application must have a proven record of creating IB/TWS/API trading software and that the software must have been trading live for some time, they run $100/hour at least. Including spec time, development and test, I'd say 2 weeks (= 100 hours) is optimistic. Even four weeks is aggressive.
If you have the track record and works for less, you should have a good business.
For most, the better choice is Amibroker, eSignal, trade station, Metastock etc. where most strategies can be coded up in a few hours.
$100 / hr ha ha ha. People that can program are not that rare. A college graduate can do this work. How much do they make 40,000? if that? That's 20 bucks per hour.
100 hours to code a strategy??? Unless it's extremely complicated no way. If someone gives me an average length strategy I can have it done in ~ 10-15 hours.
btw if anyone wants to pay me 5 to 10 grand please PM ME
Hey - hire IB programmers at 20 USD per hour - and resell them to John McCain for picking lettuce at 50 USD per hour - huge arbitrage possibility - why didn't I see this before?
Quote from Bluegar3:
$100 / hr ha ha ha. People that can program are not that rare. A college graduate can do this work. How much do they make 40,000? if that? That's 20 bucks per hour.
100 hours to code a strategy??? Unless it's extremely complicated no way. If someone gives me an average length strategy I can have it done in ~ 10-15 hours.
btw if anyone wants to pay me 5 to 10 grand please PM ME
I would not trust a recent college grad to code real-time, multi-threaded financial software. They won't have the experience to design and test a robust system.
You should find someone with 5+ years real work experience (not school), and 2-3 successful systems under their belt that are functioning in a live prduction environment, and resemble what you are looking for.
Salaried people like that are making absolute minimum 75k in the US. Consultants will likely do a better job, and faster, but cost $100 / hr like someone else mentioned.
Ask for two references.
You should find someone with 5+ years real work experience (not school), and 2-3 successful systems under their belt that are functioning in a live prduction environment, and resemble what you are looking for.
Salaried people like that are making absolute minimum 75k in the US. Consultants will likely do a better job, and faster, but cost $100 / hr like someone else mentioned.
Ask for two references.