Tradestation, Brokerage, Automated Trading

Discussion in 'Automated Trading' started by Trader_Herry, Oct 5, 2006.

  1. 1)
    Let's say I am going to run an automated system in Tradestation. I would like to send orders to third-party brokers like IB instead of Tradestation brokerage.

    I'll take care of the coding of the trading system.
    But what about the automated part?
    After I have coded my trading system, what do I need to do to "automate it"?
    How can I tell Tradestation to send signals/orders to third-party firms like IB? Any clue?

    I would like to hear more recent comments.
    How do you comment Tradestation as a brokerage firm?
    Good/bad? How good does it in running auto-system / executing auto-orders?
    Reliable/stable platform?

    Thanks for your responses.
  2. your going to have to write your own api or use some third party software like tradebold, tradebullet or ninja. might be a few more. but with tradestation alone, it can't be done.
  3. elit


    Did you read the reviews on tradestation brokerage?

    Maybe you find info in the brokerage forum?

    What are the reasons you want to use IB? Fees, that it is used by many traders?
    You need to find out if the benefits of using IB are still of more value than using tradestation brokerage after you have automated with the use of tradebolt (etc.).

    I have no experience of tradestation broker. But I might suspect that for example the fees are not going to differ that much anymore when you add the tradebolt (etc.) fees to the IB fees. Maybe there will be more problems with using 3rd party software and hidden costs.

    Maybe tradestation is a good start for you. You can always hire a programmer to program your system to use with IB, with the money you're going to earn from your system working on tradestation. If you don't get no money from there, you won't get no money from IB either, I suspect.
  4. HINT: That was the easy part. Now get the signal out of TS EL into Excel/VB/.NET/Java/Whatever and after that you should be able to interact with any other broker custom API's.

    Sorry, but there is not much help for this from TS themselves but there is a whole industry of add-ons around it.

    Good luck.

  5. What I've been told is the easiest way to do this is simply write the orders to a text file, then have another program which monitors the text file, reads orders from it and submits them to IB or whatever.

    Other programs exist that capture the emails TS can be configured to send when orders trigger. I remember a free one named hypertrader lite or something similar but I never ended up using it.
  6. Oh no, am I a bit too late?

    The hypertrader forum is discontinued. :(

    Does anyone know any mirror I can download the free tool?
  7. Yes, have been reading.
    So far the comments about Tradestatin brokerage are mixed.
    There are quite many complaints.
    Some are old. I'm not sure if they have improved now.

    Yes, you are right.
    Actually there are several options:
    - TS + TS (broker)
    - TS + IB
    - TS + any good third-party broker

    It seems the best option is the first one, provided that Tradestation is a good and reliable brokerage firm.

    Hmm... I think I'm not going to use Tradebolt.
    I don't see why I need to pay much just for automating my system. It looks like a rip-off.

    I might try Tradebullet or Ninjatrader.
    It appears both Tradebullet or Ninjatrader just charge monthly fee not too sure, or whether they have hidden costs).
    Any comment on these software?
  8. Have you tried any of the above third-party software you mention?
    How good are they?

    PS: Found more commercial tools.
    - TraderAssistant, Dynaorder(discontinued)
    - read that BracketTrader and ZeroLineTrader can do automated trading. How come? Miscompcetion?
  9. TradeBolt

    TradeBolt TradeBolt, LLC

    Hi Trader_Herry

    Saw your comment about TradeBolt and wanted to clear something up. I don't know what you're trading, but forex is free with Gain Capital (yes, we do get paid off of the spread, but no matter what IB you go through at Gain, your spread will not be increased).

    Also, if you trade less than $50 worth of product per month with Interactive Brokers (any instrument), we don't charge you. This would constitute 10000 equities shares or 50 futures contracts per month.

  10. maxpi


    I wonder if there is a forum somewhere for trader assistant?

    Those guys at hypertrader are the hardest people to do business with. They changed hyperserver to a non-free thing, no biggie, I paid the $89 or whatever it was but the thing was that I wasted a week trying to find out what the heck was going on with the freetool. They don't notify anybody of anything other than an obscure post on their forums somewhere, which don't exist anymore.

    TraderAssistant looks like the lifesaver for me, the price is high enough that they should be able to afford to continue to develope it and upgrade it. Without a forum there is no way to get any idea if it works or not at this point however.

    Probably hyperorder is going to cost me to download, I just reinstalled windows to get rid of some malware problems and was going to download the hyperorder software when I read this thread.
    #10     Oct 7, 2006