frostengine you are right about your trading software being tested in IB demo. I use IB extensively.I Trade emini in 1 lot size only but trade options in SPY,IWM,DIA in larger size.I also trade options in heavy weight counters like QCOM,AAPL,OIH. I dont use 3,5,15 min charts.I use only range charts & trade mostly on CCI. For example to trade YM (noise is 10-12 ticks),my range bar size is always 10.my entry & stop loss has to be when cci crosses zero line/hook from 100/ 200 like that.stop can be fixed or based on cci or below 21ema like that. Iam not that tech savy.I have not used bracket trader yet.My pricipal trading is options on indices (size) which is very subjective watching vix/volatality/trin etc.emini with 1 contract I can experiment with yours let me know. krishiyer, I do not fully understand the method you wish to implement, but I do believe this could suite your needs. I notice your reference to not minding being a guinea pig, which brings up a good point. One good thing about IB is the simulated account, which for testing an automated system like this it is EXTREMLY valuable. Allows you to see in real time how well yoru system is performing without the risk of any monetary loss. [/B][/QUOTE]
frost, I personally like to test out your platform as long as its free. your kindness to share is greatly appreciated. its doesn't really matter to me if its opensource or not coz the many softwares we used today aren't. can you post some screenshots to upz the interests? ----- ps.: Maybe we can make the thread more productive... - Those who are interested to use the software raise their hand and give constructive suggestions. - Those who have no interests, plz keep quiet n ignore this thread.
jimmy, Basically as you noted, I have a bot that wins over the long run, but I cant handle the draw downs. So, I gave discretionary trading a shot, and I proved to myself I do not have the diciplin to trade that style. So here I am, returning to what I KNOW I am good at. While discretionary trading I noticed lots of things I wanted to build a trading system around, but my current bot/platform I designed was never intended to be able to handle these sorts of new trading ideas I had. So I began work on my new platform, and realized it really woudlnt be all that dificult for me to expand the platform to a point where other users could bennefit as well. ozzy, No it is not available yet, a lot of features are already done and working... and I have already begun back testing some new strategies with it..... but its several weeks away from any sort of beta I would realease.... although after seeing some of these posts I am not so sure if I should accept the liabilities of releasing this thing.... I will need to think about it a while longer. Hopefuly get some input from legal counsel. Gonz, Any screenshot posted at this time would not help generate interest i do not believe, as the system is not very "pretty". As for as functionality is concerned its very sound at the moment, but not prettied up yet. In a few weeks I will post some screenshots if I decide to go public with this application.
Just because something is free, doesn't mean that it is cheap. My comments were very constructive, and (without getting into the negative comments) you should realize that an undertaking like this requires a lot of work and backtesting to even prove that viable systems can be created using this process, not to mention experience doing it. Before anyone could take the offer seriously, Frost would have to show that he has succeed in either automated or discretionary trading with at least a paper trading account, and if you do your due diligence and research, you would see that that has yet to be accomplished, at least as far the ET community is concerned. Unless, of course, you want to put your time and real cash into a completely unknown and unproven quantity without looking for a track record or asking twice to see if they are even capable of accomplishing their stated goal? ... And from Frost's perspective, traders are always coming here and lodging one complaint after another about IB, are you sure you want to step into that mix? Think twice. There are no aspects about trading that are pie-in-the-sky. Looking forward to your comments. JJ edit: It's a public forum, so I will comment as I choose to. I'm not making these points to be divisive or say it can't be done, or hope that it won't be done or anything negative. I'm just doing the due diligence that's required.
jimmy, Why would I need to prove if I have been successful at either discretionary or automated trading to create a trading platform? My success in trading should have NO baring on whether or not I can produce a good trading platform. I am not giving away my bots or my automated strategies, instead I am only providing a system for others to create their own automated strategies and use them without paying lots of money for a system that they may never even discover a viable trading method using. At least my system woudl be free, and they could discover without risking any of their real money their own strategies and if they are lucky enough to create one then they can trade it for real.
Ideally a software platform would require rigorous testing before release, it certainly will require a lot maintenance once it is brought out for user testing, a beta is released, and subsequent work is done for updates. If it is open source, then anything goes. Then you would have to go through the process of creating different systems, back testing them out in a variety of market conditions, etc., etc. Then comes the forward testing. Having done so in an automated trading system successfully (notice I said on paper OR with live cash) would show that you have sufficient experience and know what is involved in all levels of the process. Not having done so shows that you don't. No knocks, just stating what is apparent to me. JJ P.S. Get a Lawyer, period before you take one more step in this direction. The minute something goes wrong or something happens which was not anticipated (and it will) somebody, out of all the people who try your software, is going to be looking for a scapegoat, and guess what, it isn't going to be Interactive Brokers. P.P.S. Not for nothing, Medved Quotetracker absolutely refuses to get involved in the creation of an automated trading component to their absolutely stellar software ... just something to consider.
Actually, I agree with Jimmy. If you have never been VERY successful as a trader... And made a GOOD living using "back-tested" strategies... Your software is very likely to be worthless. A failed trader building the ultimate generalized "back-testing" plus ATS for "non-programmers"... Is pretty much oxymoronic and a pipedream. I know... my systems have > 100,000 lines of code... And I have been making 6 figures trading > 10 years... And I would consider the software you are proposing to be basically an unwitting scam. But then it's free... and you get what you pay for. That's why I am suggesting that you focus on a subset and do it well...
I may be a failed discretionary trader, but programming is and always has been my main passion/career. There is nothing I cannot program. Posters here make it out to look like I have never written a successful backtesting/ATS before, but I have. This is not my first trading platform I have written. I know what goes into them...... And contrary to popular believe here, I do have a system that has backtested EXTREMLY well, and maintained its edge when traded on ibs live simulation account going forward..... as I stated before regarding that system I am under capitalized to actually use it and I am not emotionally willing to sit through its draw downs even though I KNOW it makes money....... Doesnt matter, this discussion is all for nothing I am sure.... Looks like the legal liabilities are going to kill this project. I am very unwilling to take this open source, and even if I did I am not sure that open source would protect me from the legal liabilities associated with if someone looses money and decides to come after the software makers.
If there are no business (fee) involved, i guess there is no labililites... juz put up disclaimer.. "Use at your own risk!" Other people might be cautious, but pple like me love to explore new ideas... whether opensource or not. So Jimmy, if u felt uncomfortable using it, then forget abt it... y r u discouraging Frost from sharing with us?