I computer program as a hobby you could say, and have some trading experience, but nothing crazy. I've done well on a few individual stocks but haven't had much luck in day trading as of yet. I'm looking for a place to start in creating an automated strategy. I currently have thinkorswim, and have toyed around with it's scripting language. I've had some success there and managed to create a simple strategy that turns a small profit over the course of a year, but the profit isn't anything to brag about. I'm wondering if I should keep with thinkorswim on this venture or consider a different platform to program the strategy on. Any input, links to get started, etc, would be much appreciated, thanks!
I don't feel the need to really switch if I don't have to. TOS doesn't seem to allow for automatic trading, which is fine. If for some reason I decide to go that route in the future then I could always port it somewhere else. As I mentioned, this is all new to me, so if starting with TOS was a bad idea for some reason then I'd be happy to consider something else that's all.
Chances are slim to none.Most likely you`ll waste your time and money.If your realy a great programmer,your best bet is to team up with someone who`s already gone some distance.
FWIW Forget it, as you will only lose your money. If you think that you can successfully automate trades based on criteria that is widely published and disseminated to the general public, then you have not researched your new business venture correctly. If the markets are truly random, then how can one hope to predict future events. It is just not possible, no matter how much you want to believe it to be so. You will realize this after many wasted years and much wasted money. Be smart, not like most who try, and learn the basics of finance, which will clearly show you why you will not be able to make money consistently by automating your trades. There are 3 things you need to be aware of when trading or investing. 1.Price 2.Time 3.Volatility There are 2 things that you must differentiate between. 1.Price 2.Value
While I agree with most of what Mr.Scalper said esp 'Forget it, as you will only lose your money. If you think that you can successfully automate trades based on criteria that is widely published and disseminated to the general public, then you have not researched your new business venture correctly'. I have developed quite a bit indicators/robots based on most of the technical studies in MQL4 platform which looked worth looking into. After years of developing/testing I have come to the conclusion that 100% automatic strategy is too difficult to develop unless it involves large computing power and more monitoring/adjusting of parameters in real time or it is for HFT. The best I could develop is based on a good strategy which is semi-automated where I could wait for the signal and pull the trigger after evaluating the signal based on a visual/final discretion by me. I have personally known to 2 developers/investors who invested around 200k+ or so and 2 years in developing some black boxes and hiring couple of programmers and still finally they had to wrap it up since the end product did not achieve their intended result or target. Either way, good luck!
Second time today I have heard that automated trading doesn't work. Interesting...I'm up huge year to date and haven't placed a single manual trade. How is that possible? I don't have overwhelming computing power, I don't have HFT speed, and I'm not even that good of a programmer or "quant". Interesting.
I did not say, it does not work. It takes lots of time/research based on my experience as a trader/programmer.