Looking for hosted auto-trading solution

Discussion in 'Automated Trading' started by jswift, Mar 27, 2006.

  1. jswift


    Dear ET Users

    I have a trading system that generated 9,500 limit orders per day. Yes, I know it's a lot. I would like to transmit them all to my broker in the evening, and have them "in the market" the following trading day. In a typical day, only 5-6 of the limits are reached so only 5-6 orders actually fill.

    I can't send them all to my broker - the broker balked.

    So, I'm looking for a hosted auto-trading solution that will
    1. Take my orders in the evening (in a text file or the like)
    2. Scan the market throughout the following trading day, looking for prices to approach my limits and
    3. Transmit orders automatically to my broker when market prices approach my designated limits (i.e. within 10% of the limit).

    I'd like this service to be hosted - i.e. in a datacenter, not on my PC.

    Can anyone recommend a service like this?

  2. CDNPatriot

    CDNPatriot Guest

    jswift, a margin account at IB would do the trick.
  3. jswift


    Thanks but actually no, it wouldn't.
    IB is my broker - they balked at the number of orders. I crashed TWS repeatedly.
  4. I would assume that you are entering or trying to enter 9000 limit orders...
    Using the IB API.

    If you expect to fill < 10...
    Obviously these orders are all significantly away from the market.

    I don't understand why you would do it this way.

    What people normally do... is track all the stocks via computer...
    And enter orders when a stock reaches a level of interest.
    If your systems are intellgently designed...
    For 10 fills... there is no way you would have to enter more than 50-100 orders.

    Nobody is going to let you enter 1000s of orders... for any number of reasons.


    :cool: :cool: :cool:
  5. tntneo

    tntneo Moderator

    I think several trading platforms allow you to do that.
    Indeed, your orders must not be activated until the market is closer to your limit orders.
    And that's also what you mentioned in your original question, so that's OK.

    I have no recommendation though. I am sure someone here is using something similar.

    Actually, with IB, you can do that. IB supports programmed orders in TWS. These orders will activate actual limit orders based on conditions you specify (could be bid, ask or last getting closed to you).
    Problem is, of course as you know, you need to enter all these automated orders and conditions manually.

    many automated trading traders, including myself, use proprietary software to do similar things and more.
    But I am sure some retail platforms can do that for you (tradebolt maybe or others.. I don't use them, so I don't know).
  6. jswift


    yes I want a computer to check the stocks and only enter 50-100 orders when mkt prices get close. But I'm looking for a solution that is both automated (so I don't have to sit at the computer clicking) and hosted in a datacenter (so I'm not at the mercy of my home PC crashing)

    I think it is possible to enter conditional orders into TWS in bulk via a couple of their APIs (DDE, Java) but the bottleneck is TWS itself - I don't think it can handle "storing" a few thousand orders at a time, even if some of them are conditional.

    I checked out tradebolt - looks like it's software you download, not hosted.

  7. StrategyRunner has a server based solution and a server side API that allows deployment on the server

    you can use any order you want (even create your own synthetic orders)

    They Support Futures and FX
  8. nitro


    One day you are going to reeeeally regret it.

  9. segv



    Is having the limit order resting in the book a critical part of your strategy? In reading your description, it seems as though you could simply take the market when your criteria are reached. I assume that you already have a software solution to generate this quantity of orders, so why not simply queue the orders within your application, and transmit them when they are marketable?

  10. I have to agree with Nitro on this one..........
    #10     Mar 27, 2006