How can I automate a trading system?

[Trader_Herry]

I'm not a good programmer.
Currently I'm trading via Interactive Brokers.
I'm willing to switch brokers if I need to.

1) What tools or things do I need to automate one's system?

2) Does it matter what analysis software I use? Will the automation process differ when automating different trading systems (coded in different analysis software). For example, if I have a trading system for Metastock, Tradestation, Amibroker, Wealth-Lab; what do I need to do to automate my system?

3) Let's say I would like to run the trading system in many markets (so I can spot more trading opportunities). When an opportunity occurs in any of the monitored market, it will place an order. What do I need to setup my computer to do that?

4) What could I do to prevent bugs occurred during automated trading? Like when the system goes wrong and keep placing orders

5) Are there any websites or resources which teach people how to automate one's system step-by-step, or discuss anything about automated trading?

Thanks for your help.

 

[rav700]

Hello Mate,

I am currently using Meta Trader for programming my code for trading...I am not strictly programming but do use a lot of custom progs.

The SBFX MT4 does not expire. U can download it from http://strategybuilderfx.com/
If u have custom built indicators u can just transfer them to the appropriate folder under SBFX,...

MT4 Programming resources

Here's a thread where you can find MT4 programming resources: http://www.forexfactory.com/forexfo...read.php?t=6011

Main thread for backtesting discussion, here you will find most of the information: http://www.forexfactory.com/forexfo...read.php?t=6002


Index of MT4 backtesting information:
Backtesting reliability:
http://www.forexfactory.com/forexfo...706&postcount=2

Historical data:
http://www.forexfactory.com/forexfo...707&postcount=3

Manual backtesting:
http://www.forexfactory.com/forexfo...710&postcount=4

Coders Guru documents on strategy testing: [URL=http://]http://www.forexfactory.com/forexfo...90&postcount=15[/URL]


Indicators archive

http://www.forexfactory.com/forexfo...read.php?t=5913

MT Tips & Tricks

http://www.forexfactory.com/forexfo...read.php?t=6128

If you need any other help let me know

Happy trading
Rav

 

[Trader_Herry]

Hello Mate,

I am currently using Meta Trader for programming my code for trading...I am not strictly programming but do use a lot of custom progs.

The SBFX MT4 does not expire. U can download it from http://strategybuilderfx.com/
If u have custom built indicators u can just transfer them to the appropriate folder under SBFX,...

MT4 Programming resources

Here's a thread where you can find MT4 programming resources: http://www.forexfactory.com/forexfo...read.php?t=6011

Main thread for backtesting discussion, here you will find most of the information: http://www.forexfactory.com/forexfo...read.php?t=6002


Index of MT4 backtesting information:
Backtesting reliability:
http://www.forexfactory.com/forexfo...706&postcount=2

Historical data:
http://www.forexfactory.com/forexfo...707&postcount=3

Manual backtesting:
http://www.forexfactory.com/forexfo...710&postcount=4

Coders Guru documents on strategy testing: [url="http:///"]http://www.forexfactory.com/forexfo...90&postcount=15[/url]


Indicators archive

http://www.forexfactory.com/forexfo...read.php?t=5913

MT Tips & Tricks

http://www.forexfactory.com/forexfo...read.php?t=6128

If you need any other help let me know

Happy trading
Rav

Hi, thanks for your good post.
I don't know if it is my problem or not, but all the links except the first one are wrong.
For example, this link hxxp://www.forexfactory.com/forexfo...706&postcount=2 points to hxxp:///
Could you mind to repost the links again, or post plain link?

 

[Trader_Herry]

anyone?

 

[TWI]

There is plenty of historical discussion about it on this forum. Suggest you use search facility.
I automate some markets through Tradestation but the majority I execute manually and just use package to provide signals and sizing.
You better face reality and realise that you need to learn how to code in a language. It is not hard to learn some of the proprietary languages such as TS EL. I managed it and I am fairly stupid. there is plenty of support on forums whether it is wealth lab, Tradestation or any of the numerous offerings. Make a decision and start to learn 1 line at a time. Before long you will be able to put all of your ideas directly into code and test them.
Good luck.

 

[Trader_Herry]

There is plenty of historical discussion about it on this forum. Suggest you use search facility.
I automate some markets through Tradestation but the majority I execute manually and just use package to provide signals and sizing.
You better face reality and realise that you need to learn how to code in a language. It is not hard to learn some of the proprietary languages such as TS EL. I managed it and I am fairly stupid. there is plenty of support on forums whether it is wealth lab, Tradestation or any of the numerous offerings. Make a decision and start to learn 1 line at a time. Before long you will be able to put all of your ideas directly into code and test them.
Good luck.

I have searched for a while, but couldn't find the exact answer for my specific questions.
Here's my concerns.

Let's say I would like to run an automated system in Tradestation to IB.
I'll take care of the coding of the trading system.

But what about the automated part?
After I have coded my trading system, what do I need to do to "automate it"?
How can I tell Tradestation to send signals/orders to IB?
Any clue?

 

[TWI]

I go via TS directly. So i do not know but it is pretty simple, there are applications such as tradebolt that have all the instructions about how to use them. I am sure IB will be able to tell you this. It is not difficult.

 

[turtle trader]

Let's say would like to run an automated system in Tradestation to IB.
I'll take care of the coding of the trading system.

But what about the automated part?
After I have coded my trading system, what do I need to do to "automate it"?
How can I tell Tradestation to send signals/orders to IB?
Any clue?

Just for claritys sake - Tradestation is both the software & the brokerage (assuming you use TS8) therefore you don't need to send orders to another broker ... you (more or less) just turn your strategy 'on' & it will place orders itself, as required by your strategy code.

(Apologies if this was already understood)
Simon

 

[Trader_Herry]

I go via TS directly. So i do not know but it is pretty simple, there are applications such as tradebolt that have all the instructions about how to use them. I am sure IB will be able to tell you this. It is not difficult.

That software charges me money per trade, which I think is ridiculous, unless I miss something.
I don't think it is justified simply because it help me to place the orders.

 

[Trader_Herry]

Just for claritys sake - Tradestation is both the software & the brokerage (assuming you use TS8) therefore you don't need to send orders to another broker ... you (more or less) just turn your strategy 'on' & it will place orders itself, as required by your strategy code.

I heard bad things about Tradestation as the brokerage.
Anyway, I don't think it will charge me anything more if I automate the system. Am I correct?

How about if I would like to use third-party brokers instead?
Any good solution?

(Apologies if this was already understood)
Simon

That's never wrong, even if you are reminding people once more.
Thanks so much for your reminder.

 

[*JDR*]

Interesting thread.

That is something that I have been looking into recently. I thought I had found it in TradeStation, but then read reviews at EliteTrader which suggest TS is a pile of p.o.o

 

[TWI]

I used TS for years and it has its problems re: automation but on the most part it is fine. It is very rare that I have issues with it but I certainly would not leave it unattended for more than a few hours. I think that you will find some problems whichever way you go.

 

[turtle trader]

I don't know anything about using 3rd party brokerage, sorry.

As for charges, as long as you do a few trades each month (10 round trips for Futures) the only charges are any applicable data fees (as with any data provider) & commission (as with any broker). It's a pretty reasonable package IMO.

Simon

 

[Trader_Herry]

Interesting thread.

That is something that I have been looking into recently. I thought I had found it in TradeStation, but then read reviews at EliteTrader which suggest TS is a pile of p.o.o

Sorry for my ignorance.
What's p.o.o.?

 

[Trader_Herry]

Okay, so how do you comment Tradestation as a brokerage firm?
Good/bad? How good does it run the automated system?
Reliable/stable platform?

Also does anyone try to use Tradestation as a software only and send orders to third-party brokers?
If so, how do you manage to do (apart from joining Tradebolt which charge money per order - too costly)?

 

[TWI]

Okay, so how do you comment Tradestation as a brokerage firm?

They are as good as any other as they actually go through RJO'Brien.
Ts customer service is one of the worst I have ever come across.

Good/bad? How good does it run the automated system?

It is very rarely that i have a problem with the automated execution. There are some annoying things such as limit orders that double up when there is an auto data refresh so you have to cancel one from the order manager. There is a learning process and expect a few hits along the way as you streamline the process. It is not something you turn on and just leave alone.

Reliable/stable platform?

Platform is as good as any but with some excellent functionality for system testing/building that you will not find elsewhere. Only issue is that you need 3rd party software to get European data in there from another provider and you need additional software to test over portfolios of products.

Also does anyone try to use Tradestation as a software only and send orders to third-party brokers?If so, how do you manage to do (apart from joining Tradebolt which charge money per order - too costly)?

I go through TS brokerage for some things I run automated but mostly I now use a Pats Pro-Mark platform for execution and just use TS to provide signals and manually execute. I find i get overall positive slippage by doing this. I am also investigating the writing of orders from TS to Excel and then using this to execute via the pats API, but i have run into some issues with this.

 

[frostyengine]

Trader_herry,

You said in your first post that your not that great of a programmer. Have you considered using an open source software program for auto trading and just modifying it to do what you need? I know of one called JSystemTrader that was written in java for Interactive brokers. From what I looked at, it appears to be pretty good. http://www.stockbotprogramming.com seems to have a lot of links for programming and trading tutorials. Has a section for step by step guide on how to build a stock bot, but I don't see any information there. As soon as they approve my journal, I will actually be blogging my experience going live with a stock bot there.

The link for JSystemTrader is: http://www.myjavaserver.com/~nonlinear/JSystemTrader/JSystemTrader.html

 

[Trader_Herry]

Trader_herry,

From what I looked at, it appears to be pretty good. http://www.stockbotprogramming.com seems to have a lot of links for programming and trading tutorials. Has a section for step by step guide on how to build a stock bot, but I don't see any information there. As soon as they approve my journal, I will actually be blogging my experience going live with a stock bot there.

Thanks for the link.
It is hard to find such kind of info on the net.
Thanks.

The link for JSystemTrader is: http://www.myjavaserver.com/~nonlinear/JSystemTrader/JSystemTrader.html

"JSystemTrader is intended for software developers. It is not an “off-the shelf” product that can be installed and run."

It appears it is not for a beginner like me since I know little about programming.

 

[DDI]

I am interested in programming my algorithms.

I do not know anything about programming. I have a choice of either using Trade Navigator (genesisft.com) or tradestation.

Trade Navigator
It uses its own software called "trade sense" - a similar version of Visual Basic. But they are not brokers and I do not know of any brokers that are connected with them.

Advantages of Trade Nav:
1. Very good customer service. They have remote assistance so when they coach you they are seeing your screen so you dont have to describe your problems.

2. I love their platform layout.

Disadvantages:

1. Very heavy platform. i.e very slow when you switch symbold and takes a while to update each time you do change symbol. Also during these updates, it freezes your pc.

2. I have quite often encountered incorrect data bars which af course can turn your auto signals into complete disarray. I find this critical and dangerous.


Tradestation
I have just subscribed to them. I do more than 10 trades a month so should be free. I dont like the layout of chart/indicators. I want to try them as their "easy language" seems to be common and not only they are brokers themselves, FXCM accepts algorithms in this language.

For those who use Tradestation, do they generate incorrect data bars?

 

[sjerar]

It's not only a matter of programming, but to have the right settings.