Automated Market Open Trades: Tradestation?

Discussion in 'Automated Trading' started by t0yland, Aug 26, 2003.

  1. t0yland


    Hello Everyone,

    I need some help with this so I am going to describe what I have been working on. Using Excel, I have created a strategy which requires buying a stock at the opening price and selling at close.
    There are many factors used to determine if I should buy a particular stock; one of which includes what the opening price is.

    Basically I need some type of software that can scan a range of stocks, about 1000, the night before(or a minute before open) for certain conditions. At the open of the market I need to scan the stocks that meet the above criteria for there opening price. If there open price falls within a certain range then I would place orders. Does anyone know if Tradestation, or any other software, can do this?

    A problem: I have to work in the mornings so this has to be automated. The strategy really doesn't require much watching, just buying at the open if certain criteria are there.

    Also another problem: I only want to trade 1 equity per day(note: not one share, just one symbol).. If 10 stocks meet all criteria is it possible to have the software pick one? For instance the equity with the highest average volume?--- Or perhaps the equity with the best backtested stats?

    Anyway I have probably confused everyone trying to explain what I want to do..

    Thanks in advance for any replies,

  2. nitro



    I suggest you look into LOO and MOC orders. That should fit your bill.

  3. t0yland



    Yes, MOC and LOC orders will work for closing the postions. Processing all this information right at opening is the real problem :(


  4. WarEagle

    WarEagle Moderator

    If you have a broker with an API that you can connect to it with something like Excel then it could be done. Interactive Brokers comes to mind. Unless its changed recently, I don't think TradeStation gives this type of access to their system. Without that, you would need to be able to apply the trading system to a portfolio of stocks and that has always been a limitation of TS. I use TS2000i so I can't speak for what the brokerage product allows you to do now.

    I have done something similar to this by scanning for my stock list in Amibroker before the open and then importing the list to Excel for realtime monitoring.
  5. t0yland



    That is an idea. Something like AmiBroker could probably do the type of scan I am looking for the night before. Then I would just have to figure out how to get IB to link to an excel spreadsheet. Anyone know of some documentation on how this could be done?


  6. WarEagle

    WarEagle Moderator

    IB has some info on its website on how to use their API here.
  7. maxpi


    Tradestation's RadarScreen can scan like that but you can't trade from it automatically. If you want to trade automatically you have to transfer the issue to a chart with a strategy.