Trading the same level all day long.

Discussion in 'Trading Software' started by themickey, Sep 23, 2011.

  1. Is there trading software or a trading platform available which allows one to trade all day automatically the same level?

    For example, I may wish to trade for the whole day the 1150 level of the futures, if it goes above 1500 I want to be long, if it goes below I want to be short.

    Should it cross this level 5 times in the day it will automatically change my position.

    Anyone know if such a thing is available to a retail trader?
    I trade futures from Australia.
     
  2. Wishing to bump this query along.
    Is there trading software or trading platform available which will allow trading futures automatically the same level or a couple of levels all day long, ie go long or short all day over predetermined levels.
     
  3. Your question seemed very unclear.

    I presume that there is a typo on the second number. You meant to say if it goes above 1150 (not 1500) you want to be long and if it goes below you want to be short.

    The problem is: where is your starting point?

    Let say at the 10:00 am when you trigger such a mechanism, the current price is 1130. Then according to your rule (if it goes below 1150 I want to be short)... the system will automatically enter a short at 1130 for you. Is that what you want?
     
  4. Thanks for reply. Yes there was a typo in my initial post.

    Should have read: " I may wish to trade for the whole day the 1150 level of the futures, if it goes above 1150 I want to be long, if it goes below I want to be short. "

    Yes, if price drops anywhere below 1150, then I want to be short and remain there until it goes above 1150 and then go long.

    Any software available that can maintain this sort of thing automatically throughout the day?
     
  5. It doesn't seem you have caught my point.

    You can use stop-orders or conditional orders. But...

    The problem is: where is your starting point?

    Let say at the 10:00 am when you trigger such a mechanism, the current price is 1130. Then according to your rule (if it goes below 1150 I want to be short)... the system will automatically enter a short at 1130 for you. Is that what you want?
     
  6. Chicago

    Chicago

    To answer the question, yes, there are many different platforms available to the retail trader that are capable of this. NinjaTrader, TradeStation, MetaTrader, QT, etc, etc... This is quite basic, almost every automatic system trader platform can do this.

    Just know that

    "crosses below" 1150 enter short;
    is not the same as:
    "is below" 1150 enter short;
     
  7. The first trade would be a manual trade to start off.
    Thereafter I would be looking to go either long or short continually that day when price crosses my level, were price to do that.

    With conventional trading platforms, in my experience, once a stop loss or conditional order is activated it no longer is in the system to continually work on any further.
    However I'm not looking to be stopped out, I'm looking to reverse my trades through out the day were the market to chop around my level.
    The point being, I don't wish the market were it to chop on my limit level to take me out of my position, I just want to chase it in which ever direction it is going.
     
  8. Thanks Chicago, I've never used automated platforms, I believe here in Australia the brokers are not geared up to accomodate them, unlike the USA which has a far more sophisticated and competitive market.
    Will IB do the job, do you know?
    This is one platform which is used in Australia.
     
  9. I think IB will do it, but I don't have experience with them, so I'm not sure.

    The reason I'm responding is this: I've had access to a great programmer over the years, and this strat was available, but I couldn't make it work.

    1. What will your null zone be? (Not even sure if I'm using that word correctly). Do you want to get long at 1150.25, and reverse at 1149.75? Or do you want to give it 1 point worth of wiggle before it reverses? Or more? I've been chopped to death keeping it tight, but chopped to a higher degree keeping it wide.

    2. Exits? End of day? Standard deviation? Tech analysis?

    3. I really hope your commissions are extremely low, just because of the chop you will experience on a bad day.

    I keep thinking I could possibly make it work using stocks on a relative strength basis, but who knows. Got other things working right now. Good luck.
     
  10. I was wishing to keep the subject on topic regarding; is there a broker-trading-platform available which is capable of keeping a position open, long or short all day at the same level, eg, if market price crosses above or below a certain level.
    Perhaps a slight time lag will help to ensure it is not whipped around too much.
     
    #10     Sep 24, 2011