you should have another account. if things like this haapened, immeadiately lock your profit in another account. for example, you long and you see it is time to exit, but your current account is stuck with order execution probelm, then immeadiately go to another account in another broker firm, go short the market to lock the profit until the problem is solved
Thanks for all of the good advice and the comments. Tradestation once again had issues today, this time with interuptions in data connection. I was watching my system trade live, as I am on vacation (vacation ) and I saw it the instant the data stopped coming in. I shut down my system but lost the opportunity for profits as my system would have had a very nice day today if it could have traded. I like the folks at Tradestation, they seem to be swamped in tons of complaints and trying to deal with them but they can't really talk about what is causing apparently ever increasing problems. I have a feeling the management has not been investing in upgrading and improving systems hardware and software to keep up with increasing volume and speed of orders, but that is just a guess. Anyway, today was the final straw for me. I will not continue to risk trading at Tradestation. I will just have to stop trading until I find a new platform. I have been spending a lot of time looking at everything out there. I like NinjaTrader, RightEdge, and Neotick Tickquest. The lack of support I hear about at OpenQuant scares me away from them. I am also taking a serious look at StrategyRunner, as they impress me as extremely competent when it comes to all of these connectivity, order handling, technology issues. They have an actual server in the offices of each of their partner brokers to eliminate as far as humanly possible a lot of these issues. Any specific experience by anyone on any of these choices?
This quote was from a full time autotrader back in 2005. WARNING WARNING If you choose to autotrade with Tradestation or AutoMaven or AutoAnything be WARNED. There is great peril in unwatched trades. Not in bad decisions, but in dangling decisions. Your AutoWhatever does not know that a trade wasn't entered, or not filled, or partially filled. Later it will try to EXIT a non-existent trade. That exit is in intself a trade, dangling naked waiting to ZERO YOUR ACCOUNT. A stop loss on a trade that didn't trigger, is an ENTRY with no parachute. I KNOW, I've done it.
Itâs your computers fault not TradeStations. If you guys are thinking they purposely have these interruptions to create more executions to generate more commissions you dead right.
Just keep in mind that none of the other platforms will avoid having data or execution problems. Even if you use Ninja, or Neoticker, the datafeed still can go down and there still can be issues between the broker and the exhange. Even if Strategy Runner has a server at their broker, that doesn't guaranteed there will not be issues between the broker and exchange as you had with Tradestation. If you are looking for a platform without any issues, you will be changing platforms very frequently. The reality is that you will never be able to let a system run completely unattended, unless you are willing to accept the risk that you will lose money because of unforeseen issues. The only way to limit the consequences of these issues is to monitor the system. Either by you, or by someone else.
Huge, huge, I mean HUGH learning curve with this "solution": dot-net C# Ninja object model Ninja event model You've got like 1 man-year of learning at minimum here. Beating the elegance and simplicity of Easy Language is no easy task.
Have I said that Turd Station can lick my sweaty ballsac? Today was the last straw MF'ers. The customer service rep said it was "just a server issue", SEE YA! Why did Bill and Ralph Cruz sell most of their TRAD position, someone tell me. el surdo havin' a cocktail
He who has witnessed a data provider that has not had a problem, let him cast the first stone. At one time or another, they all have issues. Welcome to the world of electronic trading.
You didn't as my comment was directed to Truckload in response to: I don't know why anyone would want to automate trading if they are going to sit in front of the computer the whole time. Sounds kind of stupid to me. Sort of defeats the whole point of automation. Which is why I said: Your making the assumption that automated = un-attended is where the problem originated. I should have included his quote... but didn't.