I've been trading 2-3 instruments manuallyusing 5 -30 min bars for a couple of years using a low cost broker. It this point I want to expand the instruments I trade to 20-30 and I would like to fully automate my trading. I'm new to full trading automatization, so I was wondering what software you would recommend to trade 10-20 (could be more) instruments at a time using 5-30 min bars, that calculate position sizes based on real time risk parameters, also has the option of using OCO order type? Any comments are appreciated. Thank you.
The question is which one you can use. Can you program? If not, will you get a programmer? It sounds like you are going to a sports car forum and asking people which car they recommend. Do you know that the average person out there may get killed driving a Ferrari unless he knows what he is doing?
Two starting points: - Tradelink (Open source on Google code, you will need some sort of programming, I even had to change the software core from SVN to fit my needs) - Multicharts (Pay for it, maybe a bit easier to program, you have to trust their code / CRM system) There are plenty others and maybe your broker provides an API you are already comfortable with tapping into.
I trade a system with auto-entries on a portfolio of equities generated from the software InvestorRT (www.linnsoft.com). Investor RT interfaces with Interactive Brokers. I've been using the software for 8 years, very satisfied. It has a programming language for building trading rules, but it is very easy to learn. And there is great support from the developers and a user group. If you get involved, you'll want to create Quote Pages of your instruments. They look much like an Excel spreadsheet. You can program the 'cells' to carry your rules, and send orders to the broker. Also full charting, backtesting, etc. If you have an account at IB, you can feed data to Investor RT at no cost. Limit 100 symbols.
Thank you for your advice. I don't have much programming experience but that too can be learned. As far as experience is concerned I think I have enough to know what a ferrari is but most importantly i know where my limits are. I was just trying to find out which software, assuming you have the right hardware, can handle multiple instruments, let's say up to 100, on a one min interval, without crashing and/or creating problems.
Sierra Chart allows you to program trading systems for a range of brokers including IB (interactive brokers). I use the ACSIL (C++ like) programming interface but there is also a Worksheet (excel like) interface that many others seem to use happily. That way you can work at a level appropriate to your programming skills and development. I don't use a lot of instrument as I trade futures a little fx but others seem to use it on large numbers of stocks.
Isn't it simpler to decrease trading instruments and increase size in the ones that are already profitable for you?. Less is more.
I thought about that, however I like to spread the risk on various instruments. Liquidity and volatility also play an important role in my strategy and that is why I like so spread the capital over multiple instruments.