I Use Trade Automation and...

...occasionally, I am away from my computer for hours!

I was debating whether to add to this thread: http://www.elitetrader.com/vb/showthread.php?threadid=29317
or start this one and I thought, this was it's own topic.

Before I explain the automation process that I am using, let me state that in no way am I recommending that anyone implement this themselves. I have thoroughly tested the method and I am comfortable with and aware of the risks.

Here's how I do it:

1) I use Investor R/T with esignal for data. IRT writes a text file that Ninjatrader reads and then sends my orders to IB.

2) Included in any entry order is a "disaster" stop limit order, placed well away from the market. I only trade CME products because of the ability to place native orders. I feel that if the market blows through both my normal stop AND this disaster stop, that even if I am in front of the computer, all that I'm going to be able to do is watch it happen anyway.

3) When I am away from the computer, I am not out of touch. I use a program called Advanced HostMonitor http://www.ks-soft.net/ . This program is not perfect but it is what enables me to leave the computer. I have the program setup to read various log files looking for various events (trade execution, ping web sites, cpu usage, battery backup activation, etc). When something occurs that I want to be notified of, HostMon dials out and sends me a text message to my cell phone. I am constantly looking at ways to improve this notification method. I will eventually have a pocket PC and use 'gotomypc' for direct interaction.

4) If I receive some type of emergency message, I can either call IB and close out the trade or scoot home(I'm never faraway while trading)

That is basically it. I know that it isn't perfect, but sometime this week, I will have 100 automated trades and I haven't had a glitch in the system yet. I'm sure that something will happen to expose a weakness at some point, but I don't trade large size anyway and I'll never get truly killed.

Again, I am not recommending anyone to attempt this. My system trades 2-3 times per day and the trade durations, unless stopped out quickly, run from 2-6 hours. So, I'm not trading in a staccato fashion.

I hope that you found this post informative.
kempo

 

Thanks for the info. I have been working on automation for a long time, just about ready to put it to the realtime test. I have Tradestation, dynaorder, but really need a good way to monitor the remote computer. GoToMyPC is sort of ...... I don't know, it times out and shuts off the connection, latency is a nasty thing to deal with, it is just not that pleasant to deal with. That other software sounds like it might be a great help in conjunction with GoToMyPC.

Thanks


Max

 

GOTOMYPC seems pricey to me. You might consider ultra@vnc (http://ultravnc.sourceforge.net/) which is free and, with a plugin, I think quite secure. As I understand it, there are versions of VNC that work with the Pocket PC but I have not tried them. I have tried both ultra@vnc and radmin ((http://famatech.com) for remote control of my computer and both work OK.

 

Which version of Advanced Host monitor did you get, Kempo?

 

Aaron,

I purchased the Lite version, $99.00. More than enough for my use. Plus, there is the 30 day free trial.

kempo

 

Thanks for that information, I'll look into it. Especially if GoToMyPC ias as buggy as Maxpi states.

kempo

 

Thanks, Kempo. And thanks for telling us about your setup. Sounds nice.

 

I too use an automation system to alert me, though not as state of the art as kempo's, certainly does the job.

Whenever I need to leave the monitor for a period of time, I set my
Warn If Fuck-up Eventuates
to standby.

When I'm not trading, the WIFE also alerts me when to take out the garbage, when I've been drinking too much, and when I'm wrong.

 

Kempo,

An option to the dial-up might be to have your computer hardwired to a GPRS mobile. The mobile at home could then send a message to the GPRS mobile you have with you when your out.

I'm not exactly sure how you go about it though. You'd need to speak to a telecoms expert.

Maybe someone on ET have a better idea of how to implement it? Anyone?

Runningbear

 

Runningbear,

Thanks for the idea. However, I'm not sure where this comes in. What is GPRS? Are you saying that this would be useful if the telephone line goes down?

Thanks,
kempo