Discussion in 'Automated Trading' started by 0008, Aug 31, 2008.
Which software and brokers are suitable for home trader who want to try algo? And which markets?
i have read about some AHG followers using TS.
I have met some really really smart computer guys working at funds and I might be able to come up with something for myself
anyway, answer is TS
Also consider RightEdge, OpenQuant, NinjaTrader. RightEdge has the most promise IMO, and all 3 work with InteractiveBrokers, which has probably the widest support amongst software packages, automated or otherwise.
These are probably more serious tools though for the smaller pro traders, or aspiring pro traders. There are beefier tools and most large hedge funds use higher grade software that IMO performs no better and costs 100x as much. I speak from experience on that one
I use tradelink, which is 100% and open-source.
It supports assent and interactive brokers out of the box.
snackly - what (more expensive) tools are used by hedge funds that comparable to OpenQuant, RightEdge etc.? (I am curious to what an IT-setup in a larger fund looks like.)
Well OpenQuant is a lead in to the more industrial strength SmartQuant. I don't know either product that well, although I dabbled with OpenQuant.
But to answer your question more directly, one example would be Portware. That is just one of many institutional trading vendors that costs tens of thousands per month, requires a small team of developers who know the ins and outs, and in the end is still somewhat of a questionable solution at least when you start looking at anything close to high frequency trading. (it's written in Java).
If they can sell it then bully for them.
I rolled my own and took some cues from OpenQuant, RightEdge etc. and I got to wonder if there are any really different design approaches taken out there: Portware - I can't figure out from their homepage but probably not.
Reuters Streambase seemed genuinely different with its event stream querying language.
Just to be more precise... QuantHouse QuantFactory product, www.quanthouse.com , can be considered as institutional upgrade path from OpenQuant , www.smartquant.com . QuantFactory comes with built-in low latency data feed, server side data warehousing, distributed trading infrastructure, co-location services, etc.
Portware is really nothing like the tools we've mentioned here. It's just a much larger platform that is not really visually driven in terms of development. It interfaces with other large solutions, like security masters, etc.
StreamBase is an interesting product. Also take a look at Apama.
dont waist your time on algos unless you know what youre doing.
lots of pros are using them and they just lose money..millions down the toillet.
Also , unless you know what to do with an ultra low latency data feed, you may forget the idea of working with a data feed that costs $10.000 per month. Banks and hedge funds are waisting money on expensive data feeds and they dont know how to take advantage from it.
Separate names with a comma.