Tradelink help

Discussion in 'Automated Trading' started by TokyoGhetto, Jun 26, 2010.

  1. So i want to program a simple strategy in tradelink and have no idea where to begin.

    Its a very simple strat where I want to launch limit buy orders from the NBBO down, anywhere from 1 cent to 1 dollar and want the position to exit at predefined profit target based on profit per share (1 cent to 1 dollar) using limit sell orders at the ask.

    I also want the strategy to relaunch once the position had been closed with new bids using the NBBO at the time that the position is closed. Also the option to control how many times the program cycles before it stops would be great.

    Also the option to decide what ecn to use when bidding/offering

    this is for sterling trader pro

    So i know that I can use the position tracker I just would like to know how the code would look complete.

    Eventually I will learn to program this on my own if no one offers to help but learning to program is like learning Chinese to me at this point.


    ps anyone want to code this for a fee please pm me thanks.
  2. the logic looks like this :

    1. launch

    2. receive tick

    3. launch bids (send limit orders from the best national bid then offset down from best national bid)

    so if the best national bid is 14.50 then it would send limit orders for
    14.50 - 100 shares
    14.49 - 100 shares
    14.48 - 100 shares

    4. Recieve fill

    4a. (position tracker) if position profit per share is 3 cents and we are holding 1400 shares then i want it to offer all 1400 shares at the best national offer.

    4b. (position tracker) if position profit per share is less than 3 cents then we do nothing.

    5. Receive fill at offer for entire position

    5a. cancel all outstanding bids

    6. Receive tick

    go to 3.

    Another aspect is the ability to determine how many times the program launches new bids until it stops. this can be from 1 to infinite.

    Hope that helps
  3. Tokyo -

    You can always get a bid from the guy who maintains/develops tradelink.

    To get more specific, your code needs to track a few things:

    When an order is submitted
    When an order is acknowledged
    When an order is canceled
    When a cancel is acknowledged
    When an order is filled

    So, when these things happen, you'll want to keep track in some data structure the current status of things. There are GotFill, GotOrder, GotOrderCancel, events.

    In GotTick(), you'll make a TickTracker that will update with bid/ask prices. You'll also have logic to make the trading decisions.

    My guess is that if the market moves away from your limit orders, you'll want to cancel them, and so on.

    If it looks like Chinese, you may struggle a bit getting this all together. You want to be careful.

    I've built a strat using tradelink and Sterling before. That one didn't work out, but it was liquidity-providing so I know some of the headaches involved with position management and how things can go haywire if you're not careful - so take care. There is also a users list for tradelink where you can ask questions.
  4. thanks for your help! :)

    I really would like this coded into trade link or maybe even excel? I think excel can handle what i am trying to accomplish here i just dont know where to begin.

    would it be easier if i made this semi-automated where when i launched i just launched the bids and did the exits manually?

    Any one be able to help me on how to code the semi automated solution? basically just part three of the logic i have outlined above.
  5. bump for programming quote...