Interactive Brokers or TradeStation?

jk90029 · May 25, 2015

xandman said:
That's for the Market data API. The platform w/ Excel RTD and data is only $19.95.

Would you please tell me what exactly means, to a beginner? No clear understanding in "Market data API" and "RTD"

Personally, interested in only 500 equities and 1-min feeding fine.
If my personal trading logic requires tick/second data, then have to pay big money.

My situation is simple. / Let c:\data.txt has 500 rows and two columns. First column has symbols ABT, ABBV, ... ZTS in SnP500.
The second columns are hoped to have 1-min current prices in the same file.
So my personal program read the freshly renewed c:\data.txt every one minute, to run and find order point(BUY price) in 500 stocks.
Most time order point is roughly 3% below the current price.

I like to avoid many messy work like API and others. All I need is the second columns with 1-min current price for 500 stocks.
I can even consider 15-min delayed data subscription if 1-min is difficult or expensive or else.

Appreciated if anyone recommend me some way.

xandman · May 25, 2015

For that strategy, a basket file is the simplest implementation. Free.

https://www.interactivebrokers.com/...zedorderentry/create_a_basket_file_in_tws.htm

jk90029 · May 25, 2015

As a newbie in IB, this is first time to hear "basket", in my life.

Let me have some hours to read carefully.

In short, my own program makes one file (automatically every few minutes interval) as follows

MSFT BUY 100 30.4
MSFT BUY 100 29.2
AXP SELL 100 105.8 (if I have AXP)

This example is only 3 lines, but easily extend to hundreds of line in ONE BIG FILE.
Also easily manage if I have 50 different symbols together, for SELL orders.

Every program is ALREADY DONE except delivering ONE FILE (roughly 1000 rows) into IB server. If they restrict 100 orders in every second, for server traffic load, then I can easily divide ONE FILE with 1000 lines, into 10 files with 100 lines.

I wonder if my situation fits your recommended link above. Should I use additional API?

xandman · May 25, 2015

More likely, you will have to rearrange your data fields in Excel, then save as text to turn it into the current working IBKR basket file. Ernie Chan, author of Quantitative Trading, did it this way when he first went solo.

Using the IBKR API is just a step to further automate the process between signal generation and order submission. Much more complicated obviously. I am a little bit worried making this recommendation to the guy who couldn't edit his broker notifications in account management. Hire a programmer.

jk90029 · May 25, 2015

xandman said:
More likely, you will have to reformat your data fields in Excel, then save as text to turn it into the current working IBKR basket file.

Of course, it can be easily changed to Excel format that IB require.
As long as I do NOT spend time to type 1000 orders everyday, I am in progress to go forward.

jk90029 · May 25, 2015

xandman said:
Ernie Chan, author of Quantitative Trading, did it this way when he first went solo.

I have his book in my desk. How did you know that I had email communication with him many times?

Solo means out of company or single?

jk90029 · May 25, 2015

xandman said:
Using the IBKR API is just a step to further automate the process between signal generation and order submission. Much more complicated obviously. I am a little bit worried making this recommendation to the guy who couldn't edit his broker notifications in account management. Hire a programmer.

I spend only few weeks in IB TWS. It will take at least several months or yearsto know some of IB.

There is no free lunch. If someone spend a weekend to help me, I should pay him at least as much as I save time. BUT no more than two weekend.

xandman · May 25, 2015

jk90029 said:
I have his book in my desk. How did you know that I had email communication with him many times?

Solo means out of company or single?

LoL. Well that's more qualified advice than some dude on the internet.

Rofl. Heck if I care about his marital status. You must be a woman. Of course, I mean solo as in his own company. It was the first or so chapter of his book.

xandman · May 25, 2015

jk90029 said:
I spend only few weeks in IB TWS. It will take at least several months or yearsto know some of IB.

There is no free lunch. If someone spend a weekend to help me, I should pay him at least as much as I save time. BUT no more than two weekend.

Tip: Upload the TWS manual to Office Depot and have them print it for you. Keep it all in a binder and highlight the areas within the Table of contents that are applicable to your workflow only.

Go through the highlighted areas during your down time.

jk90029 · May 25, 2015

xandman said:
Tip: Upload the TWS manual to Office Depot and have them print it for you. Keep it all in a binder and highlight the areas within the Table of contents that are applicable to your workflow only.

Go through the highlighted areas during your down time.

Good tip to hear. I will try.