I am new to the field of active trading. Suppose I develop a strategy. What is the process to actually start investing with that strategy? I develop an automated strategy on paper. I obtain a server, and program it to take in data and output trades (I have heard something about outputting in a FIX protocol format -- do I need to do this from scratch?). It determines the output based on the paper strategy. I find a brokerage which will automatically execute trades given my server's output. [/list=1] Are these the bare bones of starting an active investment firm given a strategy? If not, I would really appreciate it if someone could enlighten me on the process of going from strategy to execution. Another way to frame my question -- how do firms execute trades (e.g. what brokerages, etc.), and how does the implementation of their strategy fit into this pipeline? Thanks a bunch!