Hi ET! Can someone recommend me an automated trading software/platform that: Live streams press releases & SEC filings, has triggers based on keyword & SEC form type, and then automatically executes trades on the symbol in the release based on parameters (price, volume, time, etc) I set with my broker. Is pre-built "off the shelf" so I don't have to program code (would be open to coding in the future). Works with Interactive Brokers for U.S. equities including ADR/ADS. Ideally, does not require a machine readable feed, but am open to this if necessary. *I currently use Eikon that offers all this functionality except for the automated part. Other platforms offer manual linkage to the broker but I still have to manually make the trade or they offer exactly what I'm looking for but for Forex, Futures, and Binary Options (none of which I trade). Sorry if this has been covered before, first post, I researched this before posting but couldn't find the solution, please don't kill me, and thanks for your opinion! Happy (profitable) Wednesday!
Hi Maverick, I'm on the retail Metastock version, it's $150/mo base + data feeds. Any thoughts on what I need?
I know IB allows you to subscribe to multiple news sources and get it via API. It's nice to be able to get multiple sources via single api and be able to trade through same api, so something to look into.
@Maverick2608 - dang, well thanks anyway! @qlai - Thanks for the thought! I tried using news via IB, but found it did not have true keyword based alerts. The most specific it got was category/sector. Unless the functionality is there and I'm missing something? When you say "API" what exactly do you mean? I subscribe to the news sources via IB > "X" API > trade through IB. The "X" is the API that I have to code or do they have some interface in between that will allow the keyword triggers and parameter setting?
All I mean is you can get the content into your program. I am not aware of any packages which allows you to tokenize the content and convert it into machine readable format for AI to evaluate (@ZBZB probably does). You are talking about serious stuff which people spend millions to get right (HFTs). Usually automating news is only worth if you are among the first to act on it.
What you are describing is difficult, but not impossible, for an individual trader to accomplish. This part is not too difficult, you can get streaming news from many sources including Interactive Broker and IQFeed. This part is incredibly difficult. What keywords could you possibly trust where the keywords alone could trigger an automatic trade. For example, if you are looking to take advantage of Mergers and Acquisitions, and your keyword is "Acquire" you would have been burned this morning when Warren Buffet issued a press release stating that Berkshire was NOT looking to acquire PEG. It takes far more than keywords, you need a system than can interpret the text of the message. Very, very, difficult. I am not sure what you mean by that. Any program that performs automatic actions is by definition using a "machine readable feed".
Is a feed where the provider parses the news and determines if it's positive or negative and sends you a message which is easily processed by your system. Something like: [QCOM, Settlement,Positive,99%] Where the last field is confidence level assigned by their algo. Neat!