I am participating in a pilot program with OptionsXpress. The pilot will start at the end of August early September. They are adding completely automated equities trading. I would love to chat about it if there are other OptionsXpress people on this board. PM me or post.
They let you put in a strategy that you can design. For example buying a new 30 day high at the 200 day moving average on 5x normal volume. You can back test it to make sure it is good, and then set it to trade automatically where it will enter for you, eneter stops for you at the same time it enters trades, exits for you, takes profits if you tell it to. Goes both long and short.
Sounds like strategy runner. I always question them holding a profitable trading strategy on their own server.
Sounds like a nice feature. But wouldn't you be concerned about the brokerage having your autotrading bot if it is profitable. What's to keep them from using it?
It is pilot program for the automated trading. The software is all production software and all trading will be real. From what I read OptionsXpress is interested in getting into the automated equities trading space so this pilot is to test that out.
OptionsXpress has no access to the system that I would be automating because it is all on my machine being run through TI. The only things that OptionsXpress sees are the executions not the staging. They have no access to that information.