Automated Trading

Has anyone had experience with Cool Trade automated software (www.cool-trade.com). It seems like a good alternative for traders without much programming experience.

 

I am currently reviewing CoolTrade for an article that I am writing for a publication. I'll be testing it extensively over the next 30 days.

 

Great! Please let me know how it works!

 

I looked at it a few weeks ago after reading something about an ex msft guy being behind it or something. (I think TraderMonthly had a blurb about it).

I wasn't very impressed.

 

interesting.. but when i checked out the site going with IB the rates are the old rates from last fall... 500 .01 > 500 .005

 

I've been using Cool-Trade for a while now. I've come to realize that I'm not a very good trader, and this morning proved that fact painfully (I'm very emotional). at least with Cool-Trade I'm starting to recoup my losses.

I use half of my invested money myself, and I let Cool-Trade trade the other half. With a Conservative strategy I at least make up part of my losses.

I don't mind talking about my losses, because i am still new to trading in general. I'll get it right ..... one day.

Cool-Trade does exactly what it says it does. It will automate your strategy: good or bad.

Granted I'm new to the forum, but is there isnt a true automated trader discussed on these boards.


George

 

I've been using cool-trade for about a year. The Cool-trade office happens to be located near my home, and I did drive over one day to meet the owner/developer and check things out. I allow C-T to run in the background which frees my mind for trading futures. Some observations:

C-T is extremely easy to use. No programming skill is required to use it effectively. That defines the intended audience, imho.

C-T strategies are mostly form-entered with help from selection menus. The user doesn't have access to a programming language, so it may not be possible to invent a new or arbitrary trading rule. On the other hand, it has a great deal of flexibility and can closely approximate most ideas. Also, the owner/developer has been very willing to add indicators that users request.

It's not very pretty, imho. Otoh, you aren't supposed to watch it, anyway.

There are some restrictions. Order size is always 100 shares or a multiple. It handles only stocks, not derivatives. It can only watch 40 stocks at a time. So if you're watching a thousand penny stocks for a breakout, it won't help you.

To sum it up, C-T is designed for people who want an automatic trader that is easy to use and cheap, and it meets that need quite well. For those who need a powerful programming language or need to scan many stocks in real time, it's not going to be sufficient.

 

I’ve found Cool-Trade to be a very interesting site. If you have a theory about what makes a stock go up or down, this is the site for you. You don’t need to have any programming experience, but you need to know about what makes the market tick technically. The really nice part about Cool-Trade you can test your theories with real time information, on a simulated platform and if the formula you are trying doesn’t work, just plug in another one. You can set your formulas for day trading or to hold for long term, or until your formula kicks you out. There are a couple of formulas in the system that you can down load when you down load the program. When your happy with your buy and sell formulas, you just turn on your machine in the morning and don’t have to look at it again until the market closes. The trading is all done for you. Once you go live the commissions are only a dollar a trade. It’s well worth a look.

Paul

 

i saw the cooltrade short in Trader Monthly. It seems overly simplistic in strategy..but I have not judged whether this is wholly a bad thing. I am working on two filters, short and long side, and will update you when I get commished to 0.

 

I think Cool Trade is a good option for former full-time daytraders like myself who'd like to stay involved with the market while running another kind of business.

Does Cool Trade do the executions for you or does it work in conjunction with your broker? Also, how sophisticated are the stock screening capabilities? Does anyone have a list of what the screening criteria are or the various automated strategies? I couldn't find any detail from the website. Thanks in advance.