Why no free automated trading software?

[illtradeya]

well it's definitely not idiot proof


i feel like i have to reread a 500 manual + take some marketing courses to understand this.

from what ive read so far there isn't a preset for etrade like there is with other brokers.

i dont understand how hard it can be to have a simple program that acts as a front end for etrade, lets you set thresholds for buy/sell and then just let it do it's thing.

i dont give a shit about market analysis or loading simulations...none of that matters other than MY preferences of when i want a stock to sell or buy.

on that note..lets say i buy a stock for $9.60...will etrade end up charging me a fee for every time i buy or sell stock? if that's the case, then what's the point of trading penny stocks other than to wait 5 years for them to never grow..,..

 

[garachen]

The best place to get all your stuff for free and not have to understand anything is prison.

 

[Munck]

Python is free, knock yourself out.

 

[Fractals 'R Us]

There is a Proverb that says [I paraphrase a lot] "show me a man the won't spend money on his business and I'll show you a man that doesn't make money"

 

[IAS_LLC]

Quote from illtradeya:

well it's definitely not idiot proof


i feel like i have to reread a 500 manual + take some marketing courses to understand this.

from what ive read so far there isn't a preset for etrade like there is with other brokers.

i dont understand how hard it can be to have a simple program that acts as a front end for etrade, lets you set thresholds for buy/sell and then just let it do it's thing.

i dont give a shit about market analysis or loading simulations...none of that matters other than MY preferences of when i want a stock to sell or buy.

on that note..lets say i buy a stock for $9.60...will etrade end up charging me a fee for every time i buy or sell stock? if that's the case, then what's the point of trading penny stocks other than to wait 5 years for them to never grow..,..

Ummm, yeah they will charge a fee.... its called commission. The reason that free automated software doesn't exist (which is false, it does exist) is because there is value in using the software. Why would someone give something away for free when they can make money off of it? If you are looking to automate, eTrade isn't who you should be using anyway.... check out interactive brokers, learn how to program, and write your own software and link up through their free API

 

[Humpy]

Quote from IAS_LLC:

Ummm, yeah they will charge a fee.... its called commission. The reason that free automated software doesn't exist (which is false, it does exist) is because there is value in using the software. Why would someone give something away for free when they can make money off of it? If you are looking to automate, eTrade isn't who you should be using anyway.... check out interactive brokers, learn how to program, and write your own software and link up through their free API

Good advice if you got 10+ years to spare.
Cheaper to visit the factory and talk to the staff etc.

 

[IAS_LLC]

Quote from Humpy:

Good advice if you got 10+ years to spare.
Cheaper to visit the factory and talk to the staff etc.

My automated execution system took me about a year, working it a couple hours a week. Could have been done in a couple days if it was really bare bones and I had a solid plan before I started.

You can learn how to program in a week or two.

 

[kut2k2]

Quote from garachen:

The best place to get all your stuff for free and not have to understand anything is prison.

+1

The OP is a tool. He expects everything to be handed to him for free. Notice how he doesn't even say thanks to those who gave him good, free advice.

Seems like this place is attracting more and more dregs of humanity than quality members.

 

[bashatrader]

Quote from kut2k2:

+1

The OP is a tool. He expects everything to be handed to him for free. Notice how he doesn't even say thanks to those who gave him good, free advice.

Seems like this place is attracting more and more dregs of humanity than quality members.

+1. "no money, no honey" Market is like a beautiful woman that dislikes stingy men.

 

[kinggyppo]

Quote from kut2k2:

+1

The OP is a tool. He expects everything to be handed to him for free. Notice how he doesn't even say thanks to those who gave him good, free advice.

Seems like this place is attracting more and more dregs of humanity than quality members.

I appreciate the automated trading thread, very interesting stuff long time lurker I appreciate the feedback. Yes the "can I have a free atm autotrader with no commissions" questions seems to be a bit tiresome lol....