order management software

Discussion in 'Trading Software' started by clearpicks, Sep 2, 2005.

  1. I am thinking about writing my own order management software to enter and manage orders with IB TWS API. My trading strategy is kind of scalping. Basically my highly customized esignal charts will generate about 20~40 buying/selling signals. For each signal, I will take a long or short position accordingly. For each newly initiated position, a stop order is entered at the same time as a stop loss order. Each position is also associated with a limit order which set at predefined price target. Each position may be closed at any time manually. The difference between my interface and TWS and some other software is that: first I don't need price quote data columns. Therefore there are only seven columns used: Symbol, Position, Entry Price, Profit/Loss, Stop Price, Target Price, Close Button. Actually the long positions and short positions are put in two different panels. In the bottom of the window, there is an action button panel with a set of buttons defined: long, short, close all, etc.
    Second, the close of positions are explicitly done. Therefore opening a new short position is different from closing an existing long position because in the former case, there are two stop orders existing at the both sides of current price, while in the later case, no such stop orders exists. Moreover, in the former case, P/L are explicitly tracked for both positions although as long as none stop loss order is triggered, the P/L of these two positions alway offset each other.

    My question is whether there already exists some order management software implementing such or similar features. If the answer is no, where can I find some source code as the start point to implement my ideas? Any help is greatly appreciated in advance.

    -- Clearpicks
  2. You can try QuantDeveloper, www.smartquant.com/quantdeveloper.php You can use QD assemblies to build custom systems / GUI in VisualStudio .NET. QD comes with a source code example that demonstrates how to develop a nearly complete trading front-end (feed handling + order / portfolio management). You can modify the code to implement what you described above.

  3. zltrader


    It can be done easily with ZeroLine Trader - www.zerolinetrader.com

    How it works is when your system sends order instructions to ZLT, you specify the data row instead of just the instrument information. The data row contains the instrument and also the strategy information, such as stop and target or even the allocation profile if you are trading the FA account or multiple TWS.

    Once ZLT receives and executes the order from your trading system, you can watch and manage the position in ZLT’s DOM or main window.

    Furthermore, you can use the free ZeroLine SimTrader to paper trade the trading system first, either to get familiar with how the automated trading works in ZLT or to test your trading system with real time market data.

    Feel free to let me know if you have any question or how it can be enhanced to meet your requirements.