$1000 tradestation shut off

[siim2005]

hello,

im a complete a newbie so please dumb it down for me if and when you give me opinions or advice: i purchased a trading strategy on the tradestation(ts) platform. the programmer that i was working with has already charged me an arm and a leg. and wants now to charge me thru the nose for this:

is there anyway that the automated strategy can be turned off if the system loses $1000 in any given day automatically? the strategy is for the emini s&p.

if so how? or where?

thank you in advance.

 

[Charlton]

hello,

im a complete a newbie so please dumb it down for me if and when you give me opinions or advice: i purchased a trading strategy on the tradestation(ts) platform. the programmer that i was working with has already charged me an arm and a leg. and wants now to charge me thru the nose for this:

is there anyway that the automated strategy can be turned off if the system loses $1000 in any given day automatically? the strategy is for the emini s&p.

if so how? or where?

thank you in advance.

It is quite easy, within a strategy, to check for the profit/loss made and to stop that strategy from generating further trades.

However, to do that, requires adding/changing the Easylanguage code for the strategy. This in turn requires that you can actually open up the code and depends upon whether the programmer has password-protected it.

If you have paid for the code then you should also have access to it or know the password. I would suggest that you trying opening up the strategy to see if your can read it.

Assuming you can it should not be difficult or time-consuming to add the lines necessary to "switch off" the generation of trades upon reaching a $1000 loss.

The only other way would be to set up an indicator alert that tells you when $1000 loss is reached, so that you manually turn off the strategy. Manual turn-off is achieved via Format strategies.

Charlton

 

[siim2005]

charlton,

thank you for taking the time in answering the question, and for anyone else that may chime in, in advance. anyhow, so the number 1 issue is password-protected. it is. and the developer said to me that this was his general practice to lock his work w/out any exceptions. he said, the only exception would be that i pay him more to make any revisions to the code b/c it will take time away from other projects that he is working on: what an a** any other options for this avenue? he's trying to take advantage of his upper hand.

manually turn off: jeez, my intention all along was to automate the process. manual application would really defeat the purpose, my investment and my intention.

format strategies: is this an indicator w/in the ts platform?

your opinion: what do you think about the $1k loss threshold? my thinking: i figure, if i lose a $1k in any sitting, it would be pointless trying to recapture that much to break even, if i can recapture that much.

It is quite easy, within a strategy, to check for the profit/loss made and to stop that strategy from generating further trades.

However, to do that, requires adding/changing the Easylanguage code for the strategy. This in turn requires that you can actually open up the code and depends upon whether the programmer has password-protected it.

If you have paid for the code then you should also have access to it or know the password. I would suggest that you trying opening up the strategy to see if your can read it.

Assuming you can it should not be difficult or time-consuming to add the lines necessary to "switch off" the generation of trades upon reaching a $1000 loss.

The only other way would be to set up an indicator alert that tells you when $1000 loss is reached, so that you manually turn off the strategy. Manual turn-off is achieved via Format strategies.

Charlton

 

[TraderCat]

hello,

im a complete a newbie so please dumb it down for me if and when you give me opinions or advice: i purchased a trading strategy on the tradestation(ts) platform. the programmer that i was working with has already charged me an arm and a leg. and wants now to charge me thru the nose for this:

is there anyway that the automated strategy can be turned off if the system loses $1000 in any given day automatically? the strategy is for the emini s&p.

if so how? or where?

thank you in advance.

My advice: Try and get your money back. Black box systems sold to retail investors are scams perpetrated by thieves and charlatans. If that is not an option for you then you can try a workaround. There are built in strategies that come with TradeStation (with source code). One of those is called _Stops & Targets. Add this strategy to the same window as the strategy you purchased and set the input value for StopLossAmt to 1000. TradeStation will run these strategies simultaneously.

With that said, you are probably better off to consider it a lesson learned (although costly) and do not trade this system as you will almost certainly lose more money in addition to what you paid it if you try to trade this (or any other system) as a newbie. At the very least you should trade it for a while in Sim mode before putting your capital at risk.

Welcome to the wonderful world of Trading!

 

[NetTecture]

he said, the only exception would be that i pay him more to make any revisions to the code b/c it will take time away from other projects that he is working on: what an a** any other options for this avenue? he's trying to take advantage of his upper hand.

Idiot. You got what you purchased, now you expect the supplier to offer more for free? Ridiculous.

* WIthout source rights purchased you have none. Point
* So, the programmers time is worthless?

He has not the upper hand, you try to renegotiate a deal.

Now, I accept you do now know what you do. Bad news - you just paid 1000 USD tutoring fee.

 

[siim2005]

tradercat: thank you for the sane, thoughtful, and humanly response. now, for nut-job or shouldbeinanet or netaroundmeplease-sothatidontkillanyone or NetTecture. are you kidding with your dysfunctional response? what's wrong with you? did i buy this code from you? where did you get the implication that his time is worthless (i paid good money for his time)? in fact, i paid for the code and i was hoping the programmer would follow convention or generally accepted rules and help me out.

of course he has the "upper hand." i already paid.

you are absolutely right, i do not know what i am doing but i do know that you may want to do some introspecting...actually don't do that, you're alter ego might tell you to strangle someone; but you really should find out how much time you have before you explode. you are seriously a time bomb....

Idiot. You got what you purchased, now you expect the supplier to offer more for free? Ridiculous.

* WIthout source rights purchased you have none. Point
* So, the programmers time is worthless?

He has not the upper hand, you try to renegotiate a deal.

Now, I accept you do now know what you do. Bad news - you just paid 1000 USD tutoring fee.

 

[NetTecture]

::in fact, i paid for the code and i was hoping the programmer would follow convention or generally
::accepted rules and help me out.

get psychological help for your delusions.

There is NO convention a business has to invest time to change a product you bought to make it fit your use. Your contract probably even states so in writing - if not, it is contention that you buy a product "as is".

::did i buy this code from you? where did you get the implication that his time is worthless (i paid
::good money for his time)?

Idiot, you paid money for a PRODUCT. Programmer time is valued at maybe USD 50 to USD 100 an hour - and it takes a lot more than an hour or two to develop a good strategy. If you buy a "boxed product", you dont pay for the time. You pay for a small part of the time it took to make the work.

1000 USD? Well, bad news - this probably does not cover even 10% of the time it took to develop the code, including testing etc.

Or do you idiot really think it takes just 100 or 150 USD to develop a microprocessor from AMD, as "when you buy the processor you pay for their time to develop it"?

::you are absolutely right, i do not know what i am doing but i do know that you may want to do
::some introspecting

There are hospitals for people with delusions.

:f course he has the "upper hand." i already paid.

Delusional bull****. He has the upper hand because you are wrong. OTHERWISE you could:
* Easily get your money back when using a credit card
* Sue him for fraud, not delivering the product you purchased etc.

He does not have the upper hand because you paid, he has the upper hand because he fulllfills the contract you have with him while you try to renegotiate the terms after the fact.

But then, you probalble dont care what contentions for selling computer code are, dont care what contract you signed and just are a pissing around idiot.

 

[TraderCat]

I smell a Troll.

 

[siim2005]

I smell a Troll.

wow tradercat i thank you for you kind and thoughtful response and you instantaneously turn on me?

 

[siim2005]

nutjob (nettecture): you dont get it. i was seeking advice without any expectations. if you look at my question, it is followed by "where?" and "how?" the only delusion i have is that you may be sane.

convention: so be it, but why the psychological deficiencies in your initial post? did you not see how tradercat and the other member replied? why call me an idiot? a dumb*** i may be, but an idiot i am not
btw, it is not boxed
$50 to $100--i agree this is fair market value for a programmer. and you mention it takes more then 1 to 2 hours to develop (but then in your following sentence you say "this probably does not cover even 10% of the time it took to develop the code, including testing etc."). so logically assuming it's $100/hour, you're suggesting that i should have paid $10,000? why dont i just send you a check for the $9k diff since you think i unfairly treated the programmer.
in fact, i'm 99.99% sure that no one in their right mind has ever requested a $10k code from you. let alone a code over $2k. i paid what the programmer thought was a reasonable market value.

amd processor: what kind of an analogy is this?

"hospitals for people with delusions" -- but cant 1 hospital accompany many delusions or does it have to be several hospitals for several delusions. damn it! this is confusing...since i'm having delusions, will the programmer charge per hour for each delusion or for 1 hospital w/many delusions? will there be an extra charge if i go from delusions to delusion?

fraud and cc: really? there's no fraud. credit card? why would i? he provided a service that he rightfully deserves to be paid for. it's my fault for picking a third class programmer.

your lest sentence: sorry, i will have to take that to the crazy house with me to see if the programmer can make sense of it.

::in fact, i paid for the code and i was hoping the programmer would follow convention or generally
::accepted rules and help me out.

get psychological help for your delusions.

There is NO convention a business has to invest time to change a product you bought to make it fit your use. Your contract probably even states so in writing - if not, it is contention that you buy a product "as is".

::did i buy this code from you? where did you get the implication that his time is worthless (i paid
::good money for his time)?

Idiot, you paid money for a PRODUCT. Programmer time is valued at maybe USD 50 to USD 100 an hour - and it takes a lot more than an hour or two to develop a good strategy. If you buy a "boxed product", you dont pay for the time. You pay for a small part of the time it took to make the work.

1000 USD? Well, bad news - this probably does not cover even 10% of the time it took to develop the code, including testing etc.

Or do you idiot really think it takes just 100 or 150 USD to develop a microprocessor from AMD, as "when you buy the processor you pay for their time to develop it"?

::you are absolutely right, i do not know what i am doing but i do know that you may want to do
::some introspecting

There are hospitals for people with delusions.

:f course he has the "upper hand." i already paid.

Delusional bull****. He has the upper hand because you are wrong. OTHERWISE you could:
* Easily get your money back when using a credit card
* Sue him for fraud, not delivering the product you purchased etc.

He does not have the upper hand because you paid, he has the upper hand because he fulllfills the contract you have with him while you try to renegotiate the terms after the fact.

But then, you probalble dont care what contentions for selling computer code are, dont care what contract you signed and just are a pissing around idiot.

 

[TraderCat]

wow tradercat i thank you for you kind and thoughtful response and you instantaneously turn on me?

Sigh. That comment was not directed at you. A Troll in Internet parlance is one who intentionally inflames and incites others in a community using insults, taunts, and generally just poor manners. Newbs are especially vulnerable and just make things worse by feeding the Trolls. So while you aren't a Troll, you just might be a Newb ...

 

[siim2005]

Sigh. That comment was not directed at you. A Troll in Internet parlance is one who intentionally inflames and incites others in a community using insults, taunts, and generally just poor manners. Newbs are especially vulnerable and just make things worse by feeding the Trolls. So while you aren't a Troll, you just might be a Newb ...

thank you for the reply tradercat. clearly, i am a newbie. in fact, the dead give away should have been; my inability to comprehend or recognize the intended recipient of the metaphor. it sound's like these "trolls" probably masquerade their true living identity, but unleash it electronically on the forums. i mean seriously, what's the point?

 

[NetTecture]

so logically assuming it's $100/hour, you're suggesting that i should have paid $10,000? why dont i just send you a check for the $9k diff since you think i unfairly treated the programmer.

Dump as a piece of bread. You got a stock product that is resold many times - so naturally it is cheaper than custom programming.

in fact, i'm 99.99% sure that no one in their right mind has ever requested a $10k code from you

You are right. I actually dont sell code. But - I work as IT consultant, and I am not sure what world you live in, but in MINE that is a job that is paid around 18.000 USD a month.

 

[siim2005]

Dump as a piece of bread. You got a stock product that is resold many times - so naturally it is cheaper than custom programming.



You are right. I actually dont sell code. But - I work as IT consultant, and I am not sure what world you live in, but in MINE that is a job that is paid around 18.000 USD a month.

clearly you dont understand what the issues are; your rebuttals do not correctly address what is at hand. incidentally, now you have attempted to cloak your insecurities by flashing your worth to reinforce your psychotic disposition.

 

[TriageTrader]

It's a shame that you weren't careful enough with who you picked to be your programmer.

But you might be able to use a macro to turn off the system from another indicator or strategy. This may require some help from someone here. But it's more of a band-aid to the problem than a long-term solution.

 

[NetTecture]

He did not pick a programmer (as in: hire a programmer to work for him). Under these circumstances he under normal industry obligations would have (mostly exclusive) right to the code. It would be work for hire. He would also have to pay the programmer.

He bought a packaged good from someone selling it (as in: he has no idea what it does etc.). He wanted product X, he got product X, either from a company or a programmer selling a prepackaged strategy. Now he ralized product X does not behave as he wants it. And bitches around that the programmer should make a custom job for him basically for free (as in: for an insulting low payment) and is shocked that programmer time has a value.

 

[siim2005]

He did not pick a programmer (as in: hire a programmer to work for him). Under these circumstances he under normal industry obligations would have (mostly exclusive) right to the code. It would be work for hire. He would also have to pay the programmer.

He bought a packaged good from someone selling it (as in: he has no idea what it does etc.). He wanted product X, he got product X, either from a company or a programmer selling a prepackaged strategy. Now he ralized product X does not behave as he wants it. And bitches around that the programmer should make a custom job for him basically for free (as in: for an insulting low payment) and is shocked that programmer time has a value.

triagetrader,

thank you for the humanely and conventional response.

nutjob,
do you even have a clue as to what you are saying or is your alter ego is so dominating that it infringes on your short term memory and your reading comprehension? when you are writing, tell your alter ego wackjob to shut up when you are concentrating. where in the hell did you get that i didn't hire the programmer? of course i did. just read the thread again when whackjob is sleeping; or when you are--i don't know who's "more" sane.

wackjob tell nutjob that it wasn't pre-packaged. it was exclusively made for me: so he says. nutjob tell wackjob to pipe down and you guys both hear me out. let's see, i paid for the custom job fair market value according to the programmers self worth. i am not bitching for a free service; but rather seeking advice on accomplishing an objective! so please, if need be, put both of your heads together and read critically. now, run off you two before i tell one of you that the other isn't real

 

[TriageTrader]

NetTecture, I apologize if I offended you. I didn't mean to insult all programmers or consultants. I hope my post didn't come across that way. I meant that it was a shame that for whatever reason the choice of the programmer did not meet the needs of the trader. He or she obviously picked the wrong person, whoever is at fault.

Siim, to answer the question directly (without placing fault because I have no idea who is to blame for the conflict), you should talk it out with the programmer and try to find an amicable solution. Otherwise, anything you try will be a band-aid solution. PM me if you want other suggestions.