Any good trade management apps/software suggestions?

Discussion in 'Automated Trading' started by deimos, Jan 23, 2020.

  1. deimos


    Hi all,
    I am looking for a solution to automate my trade management.
    I open every trade manually and change TP/SL etc manually using my existing decision tree rules in my mind. It becomes very hard to follow when I have more than 10 open trades. I want to use a software which I can code my decision tree rules inside and manage all my open trades in realtime. I am using IB as my broker so It needs to use IBapi for sending/modify orders.

    Appreciate all suggestions / or i need to code it by myself. thanks in advance.
  2. patrickrooney

    patrickrooney Sponsor

  3. deimos


    Thank you Patrick, but I'm trading stocks.
  4. Code your own using Python and Jupyter notebooks. Here's a screenshot of mine. Pay no attention to the lines, I don't use them, just too lazy to take them out.

    Last night I added a series of buys using Python which I used to do manually, pain in the ass.

    deimos likes this.
  5. deimos


    That is the best way I suppose, however I wonder maybe I can find a stable software that save me time.

    IB has already a Python library, it will save time.

    One question, do you modify the orders in real-time? or do you use an interval? just asking..

  6. The problem with using anothers software is that you will always have problems with it. So might as well have it be your software that you have problems with.

    IMO don't use IB's Python library, use ib_insync. IB's Python library is a transliteration of their protocol and for most people, it's better to use a library designed for developer use.

    Not sure what you mean by modifying orders in real time or an interval... You can modify orders either way.
  7. tiddlywinks


    SierraChart has a "Trade Management By Study" study which can continuously modify orders based on some other study either built-in or custom code. Using 2 trade management by study studies, stops as well as targets can be controlled, each based on different studies if desired.
  8. deimos


    I totally agree with my own software problems part. It is always more flexible and easy to modify. However, it takes some time and effort. I will do so I suppose.
  9. Start simple. Jupyter notebook, ib_insync and TWS side by side.
  10. sscapital


    Depends on how much you want to "automate" your trade management? I'm not anticipating incorporating trade execution for my own use but I have pretty much built the decision tree "expert" component as well as a calculator engine which will perform bespoke trade calculations. This is all configurable and can be made to generate trade management alerts. Any third party software "problems" would then at least be filtered by your own trade execution procedures/software.
    #10     Feb 11, 2020