Is it possible to make an automated system that when it receive emails with signals it can analyze the entry,stop and profit takes and execute it with a platform such as vtrader. Or maybe there already is one available. If not, how much would it cost to hire a programmer do develop this software?
in other posts you said you were a new trader...now you are automating? http://www.elitetrader.com/vb/showthread.php?threadid=59484 Im asking these questions as Im new to the market, and I want to get a feeling on how well I do against professionals, and how much I have to improve to get there.
I'm not sure what you mean by 'signals' but if those are orders then you can use TradeBullet to read those emails and send the order it contains to a broker. Francis
Sorry if Im confusing you, but if I want to continue to put as much energy as Im doing now, I want to have the option to automize my trading sometime in the future when Im profitable.
ok..its none of my business, but don't you think you should learn to trade first? sorry I will shut up now...bye
one can of course develop a program to do this it can also be achieved using batch scripting and the right tools. for downloading the emails one can probably use getmail for windows http://www.interlog.com/~tcharron/getmail.html or postie http://www.infradig.com/ then grep info from the downloaded msg and create order files for tools like tradebolt , tradingsimulation.com, brackettrader,ninjatrader etc. looks pretty straight forward if one is using a broker with tools for reading order files. just outlining the basic steps here if anyone is interrested as ElectriCS mentioned also a good idea to learn to trade.....
This is the way I automated at first, prior to writing code / dll to do the job. 1. Create an email address just for trading using your ISP and Outlook or Outlook Express. Use it only for trading signals and make it "odd" enough that spammers wont likely guess it, ie: r5t2kd7l5k4l34@myisp.com 2. Use PromaSoft Autoresponder email software to receive the incoming emails. It can read the subject line or body, then run a simple batch file using the data from the email as variables (ie: symbol, price, order type, etc.). 3. If your dealing with an internet based broker that does not offer automation, use iOpus Internet Macros to create a broker interface macro that runs as a batch file and can accept the trading signal data from the PromaSoft Autoresponder. Downside is you have to watch the broker's website closely - if they change you have to redo the macro. With this setup it is possible to automate trading with any trade software that provides email trade alerts and any broker that has a web based interface or API. Autoresponder can react to other emails too, so you can make a "kill switch" that can be activated by email for crazy days or black swan events... smitty
Hello: I think the automation of losing money is an exciting idea. Seems to me that automating that process so that one can lose money without actually having to be present is appropriate for the crowd here at ET. Also interesting is the idea of using Adsense to generate revenue. What if you combine the concepts ....on the one hand you have clicks generating income...While on your automated system losses the income the next day when the market opens. Its a sort of financial perpetual motion machine. I think you guys are really on to something here. Steve
I'm sorry, but I think talking about automated trading by email is quite frankly daft. Surely you want to know in real time the status of your order. Email is for messaging, and there are no limits as to how long an email will take to arrive, or even any guarantee that it will arrive at all. What about security ? How will you authenticate the sender ? If access to a proper trading platform is not available, phoning a broker is probably a lot safer, more secure and probably more reliable.