Need your help.

Discussion in 'Automated Trading' started by Mike805, Sep 16, 2008.

  1. This morning was the last straw. My current primary broker went down at the open and for the first 15 minutes of today. As a result I missed executions on about 300 orders that would've resulted in a significant profit. Calling the broker resulted in a "We've been having problems this morning..." standard type answer. I realize that data issues are more likely during "peak" intervals, but I have several automated strategies that usually trade very actively during those exact times. For reference purposes I use TradeStation to generate signals and then execute primarily through IB and TS. This morning, none of my TS strategies sent orders even though they should've sent about 330 total. I managed to manually execute about 20 and missed fills on the rest. All in all I'm up mid 4 figures when it should be 20 times that. Very frustrating as I believe that opportunity NOT taken is much worse than lost money.

    Anyhow, enough of the sob story, I am ready to make a transition and I am willing to consider any option except the combination I am currently using. My automated systems require real-time data as well as the prior 5 days data for about 1000 symbols. Total, my systems take between 30-500 trades a day, sometimes 50-100 will trigger at once, as they did this morning, wherein everything failed...

    So, what do you guys recommend I use to trade these systems? I absolutely need reliability and stability. I also monitor about 12 accounts, so I can't watch these things trade minute by minute. Ideally, I want fully automated all day with no intervention no problems. My internet connection reliability is not an issue. Robust and stable data and execution is the key. I've tried Multicharts and there are still too many automated trading issues. Besides, I don't want to use IB.

    A good firm (I am willing to go prop or retail) with a good API and the like is what I'm looking for.

    I am computer literate (I can write software), but, I don't have the time nor the inclination to redo all my current easylanguage into whatever language these programs require. I am willing to hire someone (obviously any free resources would be great) to do this, but, that person will have to agree to be paid via equity in my fund that vests in a time-frame we deem acceptable, i.e. you will get paid in fund equity for time spent on this project, that equity will then become available to you once whatever software you write is tested real-time with real-money for a period of X (weeks months etc).

    Any suggestions for firms, resources and programmers would be helpful.

    Thanks in advance.

  2. Baywolf


    You have to be kidding. Barter system?
  3. rosy2


    lime brokerage
  4. No. I have experience with software developers. Some simply can't write good software worth a damn. If you have references and a record of developing good quality software I am willing to pay the price. Barter? READ MY ACTUAL POST. I am willing to pay CASH - however, your code needs to be proven in real time before you get the full amount.

    Besides, working with a programmer was only one option, preferably the last option.

    I'd appreaciate a more constructive response. If you have nothinig constructive to add, then keep quiet. I'm not in the mood to deal with BS today.

  5. Thank you, I will investigate them.

  6. Baywolf


    I did a search and no result for 'cash' in the original post. I was only trying to make a point of how silly your compensation plan sounds. Put yourself in the other person's shoes. Would you want to be compensated in vested EQUITY, not the same thing as straight up CASH btw.

    If you are really making four-figures daily, hiring (and paying in cash) for a blackbox programmer shouldn't be an issue.
  7. Vested EQUITY = cash after we prove that your code works in real time. That could be days or weeks or months. I don't want someone who writes shitty code, gets paid, then fails to support and properly debug after the code is "done".

    Also, you have no idea what I am prepared to offer in terms of equity based compensation along side regular comp., yet, you automatically call what I propose as silly. This is why I would prefer to not deal with developers such as yourself - you have no common sense. Move along, you provide no value here.

  8. Baywolf


    Ok Mike, you made your point, I guess.

    Just a fore warning to any developers thinking this sounds like a good idea. Its not. At the very least it will be extremely stressful working for someone like this. I've worked with people like this in the past, and the whole duration of the project, getting compensated was a PITA (even though the instructions were clearly laid out and followed). They may hold your payment hostage if the strategy doesn't play out like they thought it would, and keep adding on rules that deviate from the original code.

    Only deal with people that pay cash, allow for time-based payment (hourly), and the payment schedules are clearly laid out in the contract.
  9. twtrader


    It is all a matter of goal setting and perception management. If everything is outlined beforehand in a completion document, then it is easier to work for a fixed price.

    Even given a completion document it is not a guarantee that it will go smoothly, some clients will be a pain in the ass trying to change the goal posts in the document after the fact.

    It comes down to trust and perception, and it is a two way street. I have some cleints that are so easy to work with , I really go out of my way to get a project done. And some clients.... you know...

  10. If you can write software why not go with something like an OpenQuant or MarketCetera type platform on a hosted server? It sounds like you need the app to be written in a language that has better error handling capabilities and can be added onto later. I am working on something similar, and intend to tie in SMS messaging when there are problems such as connectivity or order problems.

    It sounds like the strategies you have make money so focus on error handling & disaster handling and that should help your results quite a bit.

    I have seen somewhere there is an Easy Language to C# converter but I have no idea how well it works.

    #10     Sep 17, 2008