EchoTrade offers new software

Discussion in 'Prop Firms' started by box, Jul 11, 2003.

  1. box



    Predator Pro Provides Platform for ECHOtraders to Automate Their Own Strategy

    Chicago, Illinois - July 11, 2003 - ECHOtradeä today announced the availability of Predator Proä, a new software platform that offers professional traders a way to automate trading strategies. Predator Pro allows traders to customize and apply strategies to a much larger quantity of stocks than they are able to monitor manually.

    Created by professional traders, Predator Pro has key strategies built into the advanced tick filter/stock analyzer system that traders can utilize, or they can enter their own strategies, sit back and let the computer trade for them. The computer simply enters and exits any stocks that match the applied criteria. Once the program is set up, the trader's role becomes one of monitoring the computer and active trades, then adjusting the criteria or program as necessary. This is the first platform available that not only automates all entries, but also automates all exits.
    ~ there is more to the PR but this link says it all ~

    Looks interesting, have not heard of it before. Has anyone seen it in action (somewhere else)?
  2. Definitely sounds impressive to me.
  3. Arnie


    Whats the big deal about "automated" strategies? The last thing I want is a computer buying/selling dozens of stocks without any input from me. What happens on one of those days when some bozo puts in a buy/sell for 1,000,000 Spoos when he meant 1,000? If automation truly worked, wouldn't some big hedge fund already exploit this? The whole concept seems to imply that the markets can be defined on a mathmatical basis....I say they can't, at least not on a shorter term basis.
  4. Sharp


    Why no screen shots on their website? Just a bunch of bla...bla...bla... and some cheep text graphics.

  5. cgr8deals


  6. you have an open invitation to stop by and check it out when you are in the area. hope things are going well for you guys.
  7. DaveN


    I see automation in trading to be a lot like a two axis autopilot on an airplane. It's great to fly with, but I'd never leave the left seat. A more crude example is a cruise control in a car. When these first came out, they were somewhat of an oddity, a luxury to be careful with. Now, it sure makes a long drive on the Interstate so much easier.

    Automation does the rote parts of my trading for me. It is faster and less error prone. It *doesn't* do my thinking for me, just my acting. Like an autopilot, I'm not going to walk away while it's working. Automation is very good at repeating tasks thousands upon thousands of times without exception. That is only a tool, and it's either a very good or very bad thing depending on how much thought the person has put into it.

    Can a spike in the mini-Dow cause your automation to lose? Yes, but just because I'm automated doesn't mean I've totally forgotten about risk control. In fact, automation demands that one be even more conscious of risk. Build in your safeguards, and expect them all to fail. It's not perfect, but using the airplane example above, it sure makes a long flight easier.
  8. Arnie



    Could you post a real world example of how you use automation in trading?
  9. I agree with you, I have been using automation for quite some time, and I know other traders that do also, it is one of those things that I would never dream of doing without now. In this market the amount I was able to make just trading a handful of stocks by hand kept getting smaller and smaller, automation allowed me to trade so many more stocks than I can by hand that it brought my profits back up to a very nice level.

    The hard part was putting in all the code for every possible scenario I could think of, in terms of what the stocks would do, the specialist, the Spus, everything I could think of. I even have rules for whacked out moves like we saw yesterday to keep me out of trouble when that happens. Then instead of spending my day doing the actual trading I am spending my day refining and changing my rules to reflect what's happening in the market or general trends. Over a long period of time my rules have become so involved and intricate that my program can handle 99.9% of everything that happens, including things like bad prints, lost quotes, and even lost internet connection.

    After automating my trading, I firmly believe that any trader that is not automating is behind the curve and is getting squeezed out of the market by those of us with automation. My computer can recognize what is happening, process the rules, and react seconds faster than a human to get me in front of other traders trying to do the same thing.

    I don't think a computer can ever completely take the place of a human, but I know that a computer teamed with a human is much better than a human alone. Just ask Garry Kasparov.
  10. well stated. could not agree more.
    #10     Jul 15, 2003