Scalping for 1/2 tick or a tick but what stop to use

[TWI]

Really refering to lots of volume traded. Ideal is lots of trade and a lot of volume on depth of bid and offer.

 

[rog1111]

It hasn't stopped me in my quest to automate the scalping methodology however...One day I may manage this.

twalker

Which trading platform would you want to automate - TT ? I'd be keen to try to develop some software to do this. It certainly would be quite easy with IB's TWS, and it would be very quick off the mark with the executions, but then for your scalping methods I presume that the commissions would become unacceptable ? I'm also not sure whether using TWS would keep you right on the market....

Food for thought

rog1111

 

[TWI]

TT or Ecco certainly allow the excel link and also writing appliications on top of host API. Easyscreen used to offer this functionality but they stopped supporting it after somebody sued them due to some mixup between price and volume. They lost the case so scrapped the function.
I am not sure of the other platforms that support this.

 

[rog1111]

tw, I havent used X-trader, but I thought that the autospreader could create automated orders ? Excel linkability is a bonus, depending on what kind of API functionality TT are offering, & it shouldn't be too hard to put together. Presumably many other scalpers must be in the same boat ? Or maybe you'd miss all that keyboard action ?!

rog1111

 

[rog1111]

Sorry - double post caused by hitting my browser's "back" button

 

[TWI]

I think a lot of scalpers may not even think about automation beyond the autospread functionality which incidentally is screwing up Liffe horribly as their server cannot cope with all the order adjustments. Great tool in theory however for spreading whatever you want. X-trader looks like a good product.

 

[herbie14]

how much does x trader cost?, can it bolt on to interactive brokers? i have used IB and Gni and Gni seem to be alot quicker to get my order in the system

 

[TWI]

x-trader comes in 2 packages and it is priced by the clearer rather than TT themselves. It costs around 500 for the basic single exchange non-auto package and about 1000 for the multiexchange/autospread version. I would not think you need any other platform to integrate if you have this.

 

[rog1111]

Is that a one off charge ? Or are they monthly rental costs ?

 

[TWI]

Monthly rental

 

[rog1111]

Ouch ! But those charges are included in your monthly bureau desk fees right ?

 

[TWI]

Yeah, sure

 

[jonnyy40]

The EUR contract doesn't seem to have that much range to me?
1 tick is 0.001? And you seem to get about 0.01/day.
I agree that when it goes it tends to trend which is the appealing part.

 

[JonnyT]

1 tick is 0.0001 i.e 10 times less than what you posted.

JonnyT

 

[jonnyy40]

Thanks J.I'll give it a (proper) look!

 

[rog1111]

x-trader comes in 2 packages and it is priced by the clearer rather than TT themselves. It costs around 500 for the basic single exchange non-auto package and about 1000 for the multiexchange/autospread version. I would not think you need any other platform to integrate if you have this.

In your opinion, do you think that many top bank/bureaux scalpers & spreaders are using x-trader ? Or Eccoware ?

rog1111

 

[TWI]

I think x-trader probably has it over Ecco merely because they are a bigger outfit and have more market penetration. I thought Ecco was an excellent system however and i know they are increasingly being seen as the best alternative. Naturally there are many others but these 2 are best IMO if you want to integrate excel based models

 

[mcdoma]

TT are trying to develop an automated tool for scalping. In fact I'm going down to their office this afternoon to do some demo work for them. Did you know that TT are willing to develop anything that you require?

 

[TWI]

No offence as the guys are no doubt very proficient but I do not want those IT monkeys developing anything for me.
If something goes tits-up I want to know exactly how it works so I can fix it. It doesn't take too much knowledge of VB to do these sorts of things for yourself, it isn't rocket science...yet..

 

[TWI]

Will be interested to know what you make of their scalping system tho.
They seem pretty good wrt letting you test out your own stuff in their office on a dummy market. I am about to switch over to them from Easyscreen so will be getting stuck into the software this weekend.