Automated Forex Trading

Discussion in 'Automated Trading' started by kenokabe, Jul 6, 2003.

  1. kenokabe

    kenokabe Guest

    Hi members,

    I currently use automated trading system.
    The composition is

    - eSignal (data source)
    - WealthLabDeveloper (System)
    - Original application to mange position, order and etc.
    - InteractiveBrokers TWS (using API)

    Every component is stable and the system appears to work well.
    Satisfied, pretty sattisfied with my work for this.

    Recently, I started Forex Trading and also planning this trading to be ATS.
    InteractiveBroker is not Forex Broker although they have so-called IDEAL currency trade with 10pips spread.

    I made some research and so far, the best candidate is GAIN CAPITAL, and the next is FX-First.
    Although FX-First offer StandardDevelopmentKit and I found MSN forum exchanging the information, I prefer GAIN for the reputation (as far as I know).

    Recently, Gain Capital and eSignal has reliesed 'eSignal Reciever' which seems to possilbe to make some ATS using eSignal scirpt. However, I really prefer to use Wealth-lab and my own program. The Gain suggest they can supply API to a customer, but I have not got any detailed information yet.

    If there is a member here who emply Automated Trading System for Forex trading, could you share your experience about broker and API, so on.

    Many thanks in advance, and excuse my English.


  2. def

    def Sponsor

    have you considered forex futures which trade electronically? they are liquid and have tight spreads.
  3. kenokabe

    kenokabe Guest


    Yes, I have.
    I forgot what, but I had a feeling Forex itself is much better when I looked into the FX futures.
    Thanks for the reply anyway.

    Well, no one in this forum use ATS for forex trading?
  4. GainCapital has a very sophisticated one.
    I may write more if there are respnses here.
  5. Ninja


    Yes, more information would be appreciated!
  6. Gain Capital has If/Then (OSO) and OCA capabilities.

    The If/Then is equivalent to "one sends other". If the order is filled it sends the other order(s).

    OCA is the more standard "one cancels all".

    Example: USD/JPY at 120.40. Short USD/JPY at 120.30 stop. If filled, then place buy limit at 119.60 (target) and buy stop at 120.60. If either target or stop order fills the other is cancelled, however neither order goes live until original entry order is filled.

    Pls Note: I've only been demo'ing but the orders seem to work as advertised.
  7. We will have our automation software running on Forex no later than the 19th of this month.
  8. rezo_s


    Just out of my xperience, 3 words about ATS:

    Never did, and never will.
    Trader is always part of trading system, and no system
    is good without trader. There is almost never 100% indentical
    situations on market in order to make such ATS.

    I never heard of one actually working, but "never say never" is
    also fair phrase.
    But think about it: even if there was such ATS, and it would
    work...Everyone uses it and everyone is winning. Hmmm whats
    wrong with that...? Whos LOOSING...?

    Dont get me wrong - scripting may be usefull to show buy/sell,
    but one shouldnt overdo it. There are some things machine can
    do better, but there are still some things only human can do...

    Just my 2c.

  9. nalgrim


    rezo_s: I think what you're talking about is the kind of advanced analysis very experienced traders can make based on lots of different variables, market conditions, fundamentals and TA. Unfortunately, the more variables that exist, the more difficult it is for one person to match the consistency and tireless activity of a computer. Also, automatic systems more than anything else NEED experienced traders to tell it what to do, otherwise it's just another worthless series of bytes on your hard drive. My opinion is that ATS can be used effectively if combined with analysis and decision-making on the part of a trader. No computerized system is going to decide for you what leverage to risk or what pairs to trade with what indicators. So maybe we should call this semi-automatic trading.. :)

    GAIN has a very sophisticated API that exposes all its methods through a .NET Web Service. It also has a lot of options for stop and limit orders (as mentioned previously here) and I've enjoyed working with their API so far.

    I'm adding their API to my automatic trading robot agent and truth be told, it's been far easier to implement than CMS or FXCM. The only difficulty is that GAIN works with stop and limit orders differently than other brokers so I have to make several API calls in a row in order to open a position and place a stop and limit at the same time.

    If there's anyone else interested in working with these APIs from within .NET or other programming languages, let me know and I'll share some tips...

  10. Why not?
    #10     Mar 24, 2004