Real time API for trading

igoryuzo · Feb 11, 2019

Hello guys,

I'm a software engineer and I'm curious about the various API's that are available to place trades. I've looked at IB but have been reading there are issues with documentation and support.

Can anyone recommend good alternatives? I've also contacted Robinhood and asked if they are developing an API, they said they are in beta. Hoping that comes out soon. Until then any recommendations are appreciated. Thank you.

ZBZB · Feb 11, 2019

IB API users have an independent support group.
https://groups.io/g/twsapi

What are you trading?

nooby_mcnoob · Feb 11, 2019

The API is the least of your concerns. IB is ok.

Felix168 · Feb 11, 2019

igoryuzo said:
I'm a software engineer and I'm curious about the various API's that are available to place trades. I've looked at IB but have been reading there are issues with documentation and support.

IB is a solid broker. Their API works reasonably well, the documentation is decent, and includes sample projects you can use to get your feet wet. My experience when contacting IB with questions was very good.

Depending on what you are planning to do, you might not need/ want to automate everything. For reasons tied to E&O insurance, fully automated trading might not be the best goal. I personally only pull the account holdings through the broker API, automatically create a basket file with the required changes, and import that back into TWS manually.

Cheers, Felix

igoryuzo · Feb 11, 2019

Felix168 said:
IB is a solid broker. Their API works reasonably well, the documentation is decent, and includes sample projects you can use to get your feet wet. My experience when contacting IB with questions was very good.

Depending on what you are planning to do, you might not need/ want to automate everything. For reasons tied to E&O insurance, fully automated trading might not be the best goal. I personally only pull the account holdings through the broker API, automatically create a basket file with the required changes, and import that back into TWS manually.

Cheers, Felix

Thank

Felix168 said:
IB is a solid broker. Their API works reasonably well, the documentation is decent, and includes sample projects you can use to get your feet wet. My experience when contacting IB with questions was very good.

Depending on what you are planning to do, you might not need/ want to automate everything. For reasons tied to E&O insurance, fully automated trading might not be the best goal. I personally only pull the account holdings through the broker API, automatically create a basket file with the required changes, and import that back into TWS manually.

Cheers, Felix

Thanks for the response. I don’t have a business why do I need E & O insurance? What is TWS? I’m a noob so I’m just gathering data. My goal is to trade options based on momentum indicator using a few models/algos.

igoryuzo · Feb 11, 2019

nooby_mcnoob said:
The API is the least of your concerns. IB is ok.

What is another concern? I would appreciate if you elaborated. Thank you.

igoryuzo · Feb 11, 2019

ZBZB said:
IB API users have an independent support group.
https://groups.io/g/twsapi

What are you trading?

I’m looking to trade options based on momentum indicators programmatically. What should I look out for in terms of obstacles.

stevegee58 · Feb 11, 2019

Will your program be trading a strategy that you're already trading manually, mechanically and profitably?

Felix168 · Feb 11, 2019

igoryuzo said:
Thanks for the response. I don’t have a business why do I need E & O insurance? What is TWS? I’m a noob so I’m just gathering data. My goal is to trade options based on momentum indicator using a few models/algos.

If you don't have a business, there's no need for E&O insurance. It is still worth thinking about all the possible points of failure when considering fully automated trading: the exchange, the internet connection, the data subscription, the broker interface, the software framework you are using, your proprietary trading code...

TWS is Interactive Broker's Trader Workstation. That's the piece of software you use for both manual trading, and for the API. A possible alternative is IB Gateway, which does not have the graphical frontend to enter trades manually.

If you are looking to trade options, have a look at my open-source project: www.TuringTrader.org. One of the few simulators out here, capable of trading options. I am not sure how you are thinking to use momentum indicators in the context of options though. Are you planning to run indicators on the underlying, or on the individual option contracts? The latter might be difficult, as the time series will be a bit short, especially considering that you might need a warmup period.

Cheers, Felix

Jeff Brady · Feb 12, 2019

igoryuzo said:
Hello guys,

I'm a software engineer and I'm curious about the various API's that are available to place trades. I've looked at IB but have been reading there are issues with documentation and support.

Can anyone recommend good alternatives? I've also contacted Robinhood and asked if they are developing an API, they said they are in beta. Hoping that comes out soon. Until then any recommendations are appreciated. Thank you.

You should try Tradier. I like their API and also their support