Newbie Question on Easy SPY Trade

Using IB as a broker, what would be the best way to automate the buy 100 SPY at the close each day and sell on the open each morning? Getting tired of doing this manually every day. Any advice for a beginner?

 

Seriously, much easier to press (or not) a button from your phone, no?

 

Use a conditional order and set a time for it to trigger in advance.

 

Bit of a strange way to trade

 

And to have it repeat automatically on trading days what would I do?

 

%%
Yes;
best way is to not exit so often- if you want a profit more than thrills. Rich ''turtle'' Dennis warned ''its the job of the market to wreck computer systems ''+ he used computer systems.

 

Not relevant to what I am doing, which is trying to see if a backtest works in RT.

 

For 20 years of SPY, assuming $1 per trade commission, it's positive but not a barn burner. I'd say it's more like random. Instead just dollar cost average and hope the next 20 years are like the last 20!

Formatting kinda sux but here ya go:

Code:

    Long + Short    Long Only    Short Only    Buy & Hold 
Starting Capital    $100,000.00    $100,000.00    $100,000.00    $100,000.00
Ending Capital    $108,118.99    $108,118.99    $100,000.00    $227,943.52
Net Profit    $8,118.99    $8,118.99    $0.00    $127,943.52
Net Profit %    8.12%    8.12%    0.00%    127.94%
Annualized Gain %    0.39%    0.39%    0.00%    4.20%
Exposure    14.55%    14.55%    0.00%    100.00%
             
Number of Trades    5,013    5,013    0    1
Avg Profit/Loss    $1.62    $1.62    $0.00    $127,943.52
Avg Profit/Loss %    0.01%    0.01%    0.00%    127.69%
Avg Bars Held    1.00    1.00    0.00    5,032.00
             
Winning Trades    2,644    2,644    0    1
Winning %    52.74%    52.74%    N/A    100.00%
Gross Profit    $152,762.03    $152,762.03    $0.00    $127,943.52
Avg Profit    $57.78    $57.78    $0.00    $127,943.52
Avg Profit %    0.41%    0.41%    0.00%    127.69%
Avg Bars Held    1.00    1.00    0.00    5,032.00
Max Consecutive    10    10    0    N/A
             
Losing Trades    2,369    2,369    0    0
Losing %    47.26%    47.26%    N/A    0.00%
Gross Loss    $-144,643.03    $-144,643.03    $0.00    $0.00
Avg Loss    $-61.06    $-61.06    $0.00    $0.00
Avg Loss %    -0.44%    -0.44%    0.00%    0.00%
Avg Bars Held    1.00    1.00    0.00    0.00
Max Consecutive    10    10    0    N/A
             
Max Drawdown    $-5,177.00    $-5,177.00    $0.00    $-71,933.17
Max Drawdown %    -4.88%    -4.88%    0.00%    -56.56%
Max Drawdown Date    9/23/2011    9/23/2011    N/A    3/13/2013
             
Wealth-Lab Score    2.55    2.55    0.00    1.83
Profit Factor    1.06    1.06    0.00    INF
Recovery Factor    1.57    1.57    N/A    1.78
Payoff Ratio    0.93    0.93    0.00    INF
Sharpe Ratio    0.36    0.36    0.00    0.34
Ulcer Index    2.81    2.81    0.00    20.33
Wealth-Lab Error Term    0.93    0.93    0.00    14.33
Wealth-Lab Reward Ratio    0.42    0.42    N/A    0.29
Luck Coefficient    14.84    14.84    0.00    1.00
Pessimistic Rate of Return    1.00    1.00    0.00    0.00
Equity Drop Ratio    0.00    0.00    0.00    1.24

 

%% Sounds about right average bars=1; annualized gain 4.20%.