Automated Trading - Which Software?

[swandro]

I would be interested to hear the views of anyone who has built their own automated trading system, in respect of the software they chose to use to link to the broker.

My signals are in Excel. Assume that I want to use a PATS-compatible broker. It seems there are 3 main routes. I could write a wrapper for the PATS API myself, I could use a third party package such as TradeBolt, TradeMagic etc. or I could write / buy an application that applies the FIX protocol as a means to interfacing with the PATS API.

I cannot yet see the advantage of using the FIX protocol except as an easier option to writing my own wrapper, but how is this better than using one of the packages I have mentioned above, such as TradeBolt?

Has anyone else been down this decision-making path? What solution did you come up with and why?

Your insights will be much appreciated.

Rob

 

[jmreeve]

FIX is good in that once your have set it up you have a choice of brokers.
However, you will need to be doing a lot of volume before most brokers will even talk to you about FIX access.

There is a pats wrapper here http://www.patswrapper.com/

and a directory of links that might be useful here http://www.tradingmachines.net/

You can also use the X-Trader API or any of the brokers that support a proprietary API
such as IB.

The more you are able to code yourself the better as it will give you more control over the trading process
and you will be quickly able to fix bugs and adapt the code as the market changes.
I code everything from scratch for these reasons but it is a lot of work.

 

[swandro]

FIX is good in that once your have set it up you have a choice of brokers.
However, you will need to be doing a lot of volume before most brokers will even talk to you about FIX access.

There is a pats wrapper here http://www.patswrapper.com/

and a directory of links that might be useful here http://www.tradingmachines.net/

You can also use the X-Trader API or any of the brokers that support a proprietary API
such as IB.

The more you are able to code yourself the better as it will give you more control over the trading process
and you will be quickly able to fix bugs and adapt the code as the market changes.
I code everything from scratch for these reasons but it is a lot of work.

Thanks for this - just the sort of feedback I was looking for. The PATS wrapper may be just what I want - I will check it out. I agree that doing it all yourself is ultimately the best but time constraints may stop me from taking that approach.

 

[A Dashing Blade]

You may want to have a look at this thread regarding the practicalities of going down a purely automated route . . .

http://www.elitetrader.com/vb/showthread.php?threadid=49093&perpage=6&pagenumber=1

 

[swandro]

You may want to have a look at this thread regarding the practicalities of going down a purely automated route . . .

http://www.elitetrader.com/vb/showthread.php?threadid=49093&perpage=6&pagenumber=1

Thanks - I will check it out

 

[tech_trader]

I have been using eFloorTrader software for my trading. I tried quite a few other solutions and found it to be faster and more reliable than the others. The API is also easier to write to than the others IMO. The other thing that really helped make my decision is there was no added cost. Since they are a brokerage, they were able to match my commission and give me the software for free.