what software/service do you wish you had?

Discussion in 'Professional Trading' started by falconair, Dec 5, 2010.

  1. Hi All,
    A friend and I, both of us programmers in the financial industry, were thinking of a small startup to serve traders.

    Outside of actual trading systems, what software do you wish existed which might help professional or semi-pro traders? The kind of stuff that you always put off doing in the future, wish existing brokers provided, etc.

    I was thinking of basic pre/post trade analysis, the kind used by large institutions (but much more basic). Perhaps something which takes your trades, calculates your positions and provides some risk numbers (is VaR at all useful to traders here...since you folks probably don't need it for any regulatory requirements?).

    You may send me a private message if you prefer.

    Look forward to hearing some ideas.

  2. Having a global variable on a platform would be nice.

    If you look at the libraries of most platforms, there is no way a multilevel functionality is possible.

    There is no question that when learning it is a good idea to be able to do each tool manually. After a while though it would be nice to put separate tools into packages where the multilevel combination could be expressed as a single output trading consideration.

    Currently, most people take the flowing data out of the platform (export), perform functions (such as global variables) and import it back into the platform (as a display factor).

    Probably the most instructive tooling would be automated logging of display panels. A common way I use on MC is to display 7 panels individually and have a centrally located pannel that summarizes the signals from these onto one "trading panel". I have 31 colors to do this in the form of "lites" on the detailed panels which are then funnelled down to 7 rows of lites on the "training panel".

    Naturally, now, I have to use three platforms and only use their individual capabilities on each separate platform display. There is no way to merge all the ingredients of each supplier into one execution oriented display.

    In the past, it was common for brokers to coattail their other clients using actual trades I did. There is no disadvantage to being coattailed except that in today's technology, I notice there are a lot of intrusions from "outside" my computers. My protection logs the kind and source of intrusions and only lets them play momentarily and only outside of my core processing system.

    So there is a question as to how your services would be protecting me as you perform your services. Today, it is the nature of pool extraction to deal in functions of functions. As you know, this means the systemmic nature of things is to continually keep current the key modifiers of the extraction.

    My standard is 2 to 6 times the ATR daily on financial indexes around the globe.

  3. Pay no mind to dr. Hershey's ramblings- in 5 years we never once understood more than a sentence.

    However Connors research has already done exactly what you suggest with www.Themachineus.com There really isn't any need for anything else.
  4. tim888


    Hi guys, just neglect the Connors hype. It is probably based on tired methods like his whole approach to the markets. There is a lot to do for trades always. Make add-on for a popular platform like NinjaTrader or Tradestation.
  5. Create a software program that converts EasyLanguage (TradeStation) code to C#,C++,etc. TS has 47K subscribers and a LOT of them are fed up with some basic issues that TS will never get around to fix. Most of them can't switch to another platform because there is no easy, convenient way to convert their EL code to whatever language the other platforms use. Most of these traders have hundreds or even thousands of indicators, strategies, etc that would need to be translated. To do so using available services would cost much more than they could afford.

    The above is true of many other platforms as well: There are always traders who would switch to a competing platform but they are not programmers and can't afford spending years learning new languages over and over again. A piece of software that is able to convert code to other languages would be in high demand.

    The only other option is to pay a programmer to do the conversions but the issues with this are numerous: level of knowledge/efficiency in both languages: confidentiality, mistakes made, re-coding if the 1st try didn't work, etc. Using software to do this would solve the majority of such issues.

    Another idea for an add-on to pretty much any trading platform: Most traders would prefer executing trades directly on a chart instead of on a DOM/Matrix or separate order submission subsystem. There are a few platforms that do that but none of them are good enough for an intra-day trader. Some lack certain funtionalities, some are way too complicated to be used under pressure, etc. Make an easy to use add-on and it will sell.

    There are many other things you could do but these should give you enough work as well as good income to start with.

  6. Like the 100's that already exist? You should really check out the machine prior to making comments. It's rather amazing.
  7. tim888


    Your stupidity is amazing. If you have nothing to recommend to these guys just refrain from making stupid recommendations.
  8. Do you truly believe suggesting trade station/ ninja add ons adds value? How about telling us something we don't know.

    Connors has already done what they want to do, thought I would give them a heads up.

    By the way, free trial to the machine. It's the ultimate portfolio building stock picking risk controlling engine ever offered to the public.
  9. Its all overkill after buy mkt, sell mkt functionality for me.:cool:
  10. pick up where trader dna left off
    #10     Dec 5, 2010