Tradestation Woes - Part 2

Discussion in 'Automated Trading' started by Truckload, Jul 2, 2008.

  1. I forgot my other question. See my previous post for a description of my problem with Tradestation.

    I must pick a new platform that is more reliable in executing orders quickly and reliably. I will then have to learn a new language since I only know Easylanguage so far.

    The program must be able to:
    1) Handle cancellations and rejections of orders automatically without human intervention in fast moving day trading of ES.
    2) I use only limit orders for entry and exit and the software must be able to reflect only reported fills. No conversion to a market order after X number of seconds, that is not acceptable.
    3) Software should allow me to have both a profit target and a protective stop loss on a position without it creating a problem for the software.
    4) I use a modified breakout for entry, so software should allow me to place a buy limit order and a sell limit order ONE CANCELS OTHER type order for entering positions.

    Can anyone recommend a platform/broker combination that will fit my needs?????????????

    Thanks for any help.
  2. missac


  3. missac


    Truckload, I fully share your sentiment.

    Please let me know if you make any progress in finding a better software/broker solution?

    Also, I am curious as to the stabillity of Ninja's atutomation feature, along with a most ideall broker combo, from anybody having this experience??
  4. Craig66


    I am evaluating the NT/IB combo and I'm not sure I would use it for live unattended trading. Overall NT has nice features and it's easy to automate if you know a little C#, but it chews memory like there is no tomorrow also level 2 subscriptions spontaneously error then stop working (support just shrugs) and best of all it does not seem to manage its physical IB resources very well (e.g. shutting down a strategy does not necessary cancel the request to TWS, necessitating restarts which lose all your automation setup).
    So NT has potential, but it is still rough around the edges.
  5. I have been researching alternatives to Tradestation and I am begining to zero in on either:

    Ninja + Zen-Fire + Mirus
    Ninja + Zen-Fire + AMP

    These two combinations seem to have very loyal and happy automated trading users.

    I would love to go with IB because of the size/secutiry but they require the use of TWS as the API and that seems less than optimal.

    I really like Strategy Runner but they would charge an upfront fee of (drumroll please) $3,000 :eek: to port my system into their servers.

    Neoticker and Rightedge seem like good choices but there does not seem to be as many happy, loyal automated traders using those platforms. Or if there are they are keeping it quiet.

    So I am now converting my EasyLanguage to NinjaScript (does not look too extemely hard for anyone with any comfort with programing) and will set up demo accounts with both Mirus and AMP and see how it goes.
  6. missac


    Truckload, the Mirrus and Amp broker info are very informative and at quick glance their sites confirm heavy focus on automated trading, thanks.

    Currently, the developer that I am working with is and I are testing the NINJA waters by integrating my TS coded system via SMTP. Since reading this thread, I am now wondering if the TS data issues might just render this combo less stable and therefore I might not be giving Ninja AT it's fair shot? I am wondering if I should just leap forward and spend the time converting my strategy to Ninja’s native script? I would very much appreciate the results of your current (2) listed combo experiments and also hear back from any experienced users that have achieved a high level of comfort and stabillity using the NINJA/TS/BROKER COMBO.

    Lastly, do you know if one of the above brokers offers FOREX? I have a calls out to both for now.
  7. I will let you know how it goes with me. The only problem with continueing to use TS to send signals to Ninja is that in addition to order execution issues, TS has had ever increasing data issues. If TS data stops, your strategy stops. I am reading good thins about Zen-fire as a data source. eSignal was known as a dependable source of data for many years, but it too has had issues lately.

    I realize no combo of data/platform/broker will be perfect, I just want to keep the problems to a minimum humanly possible.
  8. missac


  9. Multi-Charts also has quite a few good responses.

    You might want to check them out when you get the chance.

    Multi-charts Info
  10. I really would like Multi-Charts except for one factor, the issue of sync between strategy and actual position.

    Like earlier versions of Tradestation, Multi-Charts strategy only "sends" orders to be executed, it does not "receive" and act upon information about fills. This means your strategy and your real position can and will be out of sync with each other if you use limit orders. Multi-Charts work-around for this is the same one Tradestation used in the past, which is to give you the option to convert all limit orders to market orders after X seconds. (You can still choose to use that option in Tradestation but the newer versions can also automatically keep the strategy and real position synced for limit orders.)

    This also becomes an issue when size is increased and you get partial fills. If I don't get feedback on the entry, I don't know how to handle partial fills.

    If Multi-Charts did not have these problems with Limit orders I would have gone with them, because otherwise I find their product to be the easiest path of upgrade from Tradestation.
    #10     Jul 5, 2008