Best Automatic Trading Software ?

[letsbehonestaboutit]

Hi Folks,

What is the best system out there where i can select any indicators which i can customize to place automatic bids, long or short...

I am talking one where i can develop my own system not one that al;ready has systems in place...

Thanks in Advance!

 

[drtro]

The most popular platforms that offer automated strategies that I know of are MetaTrader, TradeStation, and NinjaTrader.

NinjaTrader has a 3rd party program called Bloodhound by SharkIndicators that makes strategy building very simple with a nice GUI interface, sort of like mind mapping.

They have 3 versions ranging from $295 to $495 but it's worth it IMO if you have a successful strategy that you want to automate. I personally don't like NT's strategy wizard or indicator wizard for that matter so it's only ideal if you know C#. I think all 3 platforms I mentioned are compatible with StrategyQuant.


MetaTrader (Forex Only Platform)
http://www.metatrader4.com/en

TradeStation (Broker in Stocks/ETFs, Futures, Options, and Forex)
http://www.tradestation.com/

NinjaTrader (Stocks/ETFs, Futures, and Forex, also a broker.)
http://www.ninjatrader.com/
https://www.ninjatraderbrokerage.com/

Bloodhound by SharkIndicators
http://www.sharkindicators.com/bloodhound/bloodhound-features/product-comparison-chart/

StrategyQuant
http://www.strategyquant.com/

 

[hhiusa]

Trade Station has expensive commssions. At $4.99 + $0.01/share, that is pretty expensive. That is a commission of $11.98 for a roundtrip trade of 100 shares. You will have to make 1.19% on a trade value of $1,000 to break even.

Ninjatrader only does futures and forex. Why not use an all-in-one broker? They are definitely more expensive than Interactive Brokers.

As for MetaTrader, it is only a software. You will still need market access. I am only going to trade Forex if I have direct access to interbank rates. Anything else will have worse spreads and pricing.

Interactive Brokers has the best spreads I have been able to find. You can have direct access to interbank rates and can leverage Forex up to 50:1.

https://www.interactivebrokers.com/en/?f=%2Fen%2Ftrading%2Fpdfhighlights%2FPDF-Forex.php

 

[drtro]

Trade Station has expensive commssions. At $4.99 + $0.01/share, that is pretty expensive. That is a commission of $11.98 for a roundtrip trade of 100 shares. You will have to make 1.19% on a trade value of $1,000 to break even.

Ninjatrader only does futures and forex. Why not use an all-in-one broker? They are definitely more expensive than Interactive Brokers.

As for MetaTrader, it is only a software. You will still need market access. I am only going to trade Forex if I have direct access to interbank rates. Anything else will have worse spreads and pricing.

Yeah IB is a great broker. Didn't know Trader Workstation offered automated trading though. Thought you had to buy a NT licence to auto trade with them? And NT does allow stocks on their software, but yeah the broker is Futures or FX.

If you're looking to trade stocks or ETFs, then yeah I wouldn't suggest any broker that charges commission per trade. I would rather have an option to charge commission per share. When I was trading stocks for a prop firm, commissions were $0.0035/share. I don't know if you can find those rates in a retail broker. IB is $0.005/share from their website. I don't think you can beat that.

 

[hhiusa]

Yeah IB is a great broker. Didn't know Trader Workstation offered automated trading though. Thought you had to buy a NT licence to auto trade with them? And NT does allow stocks on their software, but yeah the broker is Futures or FX.

If you're looking to trade stocks or ETFs, then yeah I wouldn't suggest any broker that charges commission per trade. I would rather have an option to charge commission per share. When I was trading stocks for a prop firm, commissions were $0.0035/share. I don't know if you can find those rates in a retail broker. IB is $0.005/share from their website. I don't think you can beat that.

IB's commission will be no more than $0.005/share; however, the more you invest, the cheaper the commission becomes. You have to set up your account with the tiered commission structure. If you move more than 100,000,000 shares/month then you'll pay no commission.

BYX Exchange remove liquidity fee $0.0015
IB commission -------------------------$0.0005
BYX Exchange add liquidity rebate $0.0024 - $0.0020 = $0.0004/share gain just by moving liquidity around.
110,000,000 shares is 10,000,000*0.0004 = $4,000

 

[Pat494]

If Virtu's claim of only 1 trading day loss in 1200 is true it must be a contender.

 

[hhiusa]

If Virtu's claim of only 1 trading day loss in 1200 is true it must be a contender.

Where did Virtu post in thread?

 

[Pat494]

Where did Virtu post in thread?

Different forum. You can google it tho.

 

[hhiusa]

Different forum. You can google it tho.

What was the purpose of that again? Why not post it in that forum then?

 

[Pat494]

What was the purpose of that again? Why not post it in that forum then?

I think it has every right to be considered in this thread amongst the top software, just by virtue of its results. They don't get any better. The OP wants the best software and these people if telling the truth are the best.
So what's your beef ?