No it doesn't, quanthouse has this ability. I dont know if you are thinking about using broker B, if broker A goes down cause you'll be in Hawaii for the week and you know that the internet can go down time to time but... If broker A goes down you code something so it plays a sound and take the appropiate action. People often have this vision that they'll go take a vacation and turn on their auto trading system. OpenQuant is a great platform to automate your strategy, but there is always something that you haven't taken into consideration in your coding that will cause a not so nice error. Sometimes I leave the system running when I'm out & about. One Time I had the system running and went to go eat (Keep in mind I've been running strategies live with OQ). When I came back I had realized that every 30 sec, I bought 500 shares of xyz and thankfully sold short 500 shares of zyx every 30 seconds as the market fell. When I came back my buying power was maxed out and I wasn't able to send in anymore orders. Thank god that brokerage was IB, which does that... had it been genesis it would have just keep going & going & going. I ended up loosing only ~ $1,000 on the whole mistake, but it could have been much worse (also better too ) but all in all this error was my fault as I didn't code this rare circumstance. I learned my lesson
you'd have to be familiar with the logic of the coding, but basically I had this parameter that I use to define an exit also set to true that didn't become false
Thanks sky for the info. I agree that it's difficult AND dangerous to achieve true hands-off autotrading. However, how about a general all-inclsive "fail-safe" to protect yoou for the unforseen glitches For example, if open position size is greater than X then exit and shut off and send an alert message. or if open loss is less than Y then exit and shut off and send an alert message.
he's one think that you might run into if your strategy doesn't use "bars"... if the spread is 20.20 * 20.25 and are you parked @ 20.25. This is the order of events if you get filled 1) a call to the quote new quote of 20.20 * 20.26 2) THEN a call your order was filled
I agree, CP, fully hands-off is TOUGH. Only recently have I been able to achieve resolution to the mechanical aspects of autotrading, so that I can focus on trade strategies themselves. Without boring anyone with the details, if you really want to fully autotrade "hands off", you have to FIRST make sure you have a 100% fault-tolerant and redundant hardware/software/network setup. There are many threads describing various options for this in detail, but it basically means a dedicated SERIOUS PC running nothing else, a top-notch UPS, and a redundant dual-homed router (2 simultaneous redundant broadband feeds), plus remote access/control software such as PCMobilizr on your blackberry so you can check on things. Its a bear to set up, but it CAN be done. Then you can really cut the cord... W