Yes, once your system is proven and fully automated running on their hardware, and they have the source code then they dont really need you any more ..
I don't like point 4 either. Owning the system means you can do with it whatever you want. Why would you share profits with the developer of a profitable system, if you have full insight to the system and also all the rights on it?
regarding point 4: i just need to know the system won´t do anything illegal or very risky. i have no interest in losing the trust of the trader by stealing his effort. besides that, there is no such thing as a "holy grail" system. once a developer has invented a working system, it won´t work forever anyway, it probably needs constant work to keep up the performance. about java/c++, visual basic would work fine as well in most cases.
some more info on Swift Trade: http://www.elitetrader.com/vb/showthread.php?s=&threadid=20584&perpage=6&pagenumber=1
I am amazed no one mentioned which order entry API's can be employed ! For example, we can't use the IB TWS API unless they have an IB account, right ? What about TT's API ?
nitro, i remember some of your posts over the last years, seems you know your stuff. About your comment: Of course when a trader has been trading with us for a while with a clean record, i agree with you. When we are talking about some guy I hardly know, you might agree with me that I need to know what he is doing before I give him capital to trade. *about if or with whom we are affiliated, it´s not a topic of discussion in this thread
Yeah, but what if the API is a POS and it doesn't support advanced orders, bracket orders, OCO's, MIT's, etc. and my system depends on these orders ? I just wonder if my system uses the TT API, will they just fund an IB that is licensed to use the TT API ? Same thing with Tradestation....if I have a good Tradestation system, will they fund a Tradestation account ? Or do I have to rewrite it ?
You can simmulate any of those orders yourself - all you need to do is be able to buy, sell and cancel. A more pertinent question is whether stop orders are supported on the server and available through the API... But even then, imo these are trivial issues if you put in the elbow grease. If you solve these order types once, and you write your code in an object oriented way, you can reuse that code forever no matter what API you have to implement to tie to your system. If you know how to program, you can write a simple DLL that you can use from TradeStation that interfaces to that DLL to call their API. That way you can use TS for generating the signals, but use their API for execution. For example, here is a DLL that someone wrote to use the IB API from any application that can call code in a DLL: http://www.nuomenon.org/ nitro