Trading automation: Getting started

B

bruford90125

Hey all,

Just came across this website a few weeks ago and I love it! It is great to have a place where so many different aspects of trading are under discussion constantly. I am a huge fan.

Anyway, my topic deals with backtesting and automation. I am an experienced trader but I am new to trading strategy automation. I have done some rudimentary backtesting of my own strategies using excel with encouraging results, and I would like to explore them further.

My question is this: Could anyone recommend a backtesting product and/or automated trading system that isn't too complicated for people without a programming background? Right now most of my buy/sell signals are generated using a real-time feed to an excel spreadsheet. I am interested in both daytrading and end-of-day systems.

Thanks,

Bill
 
How complex a tool (and whether you need some programming experience) depends on how complicated the buy/sell logic is.

Without necessarily being specific about parameters, what kind of studies, etc. and timeframes are you using (or want to use) to generate your buy/sells?

That will help determine whether you need something as complex as TradeStation or not.
 
Originally posted by bruford90125
My question is this: Could anyone recommend a backtesting product and/or automated trading system that isn't too complicated for people without a programming background? Right now most of my buy/sell signals are generated using a real-time feed to an excel spreadsheet. I am interested in both daytrading and end-of-day systems.
More...

First, what you ask for probably does not exist. There are a few apps out there for backtesting and if you want to stay with simple stuff, then you won't have to get into too complicated programming. But if you go with anything more than the canned systems that come with them, you'll find yourself going down the programming road. In either case, a couple of products to look at are http://www.tradestation.com and http://www.wealth-lab.com

When you add automation in there, the list gets even smaller. Two that I know of are tradestation http://www.tradestation.com and FirstAlert http://www.neovest.com. They both allow you to use their software to generate orders, but there is no backtesting with FirstAlert (which is a shame if you're a daytrader as it's better for intraday trading).
 
"Neovest features proprietary research, plus custom layouts and models, all integrated into a real-time, high-speed filtering, monitoring, charting and order entry solution"

WHAT!!!??? ERRRRR alright sign me up hahah
 
Thanks for the replies. I have checked out wealth-lab and I will look into Tradestation. Let me give you some details of what I am researching.

I have created a spreadsheet in excel that imports real-time and historical price data and technical indicators for a large group of stocks. It then compares all of the data and creates a portfolio of longs and shorts using a few fairly simple calculations. I then "invest" my capital at the end of the day according to the portfolio weight assigned to each stock. I have tested this strategy using different parameters over the past few years and certain indicators have shown very encouraging results.

What system do you feel would be best able to handle something like this? Right now I am using Bloomberg data feeds to excel which are very expensive for an individual trader. Could you also recommend a better-priced data provider with real-time technical indicators, etc. that I can link to excel.
 
FirstAlert has a new feature coming out called IOG (Intelligent Order Generator); this allows the user to use the scanning capabilities to automate orders. If the symbol(s) fit the criteria then the system will buy or sell. It allows stops numerous stops and safety features. Once it is set up it allows for complete automation and, most importantly, takes the human element out of your trading and relies just on the information. Check the website www.neovest.com
 
FirstAlert has a new feature coming out called IOG (Intelligent Order Generator); this allows the user to use the scanning capabilities to automate orders. If the symbol(s) fit the criteria then the system will buy or sell. It allows stops numerous stops and safety features. Once it is set up it allows for complete automation and, most importantly, takes the human element out of your trading and relies just on the information. Check the website www.neovest.com
 
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