MoneyTec 2.0 - Online Forex Traders & Brokers Social Networking Community » Trading Methodologies » Tools of the Trade

[greek]

Ian,

I have an autotrader software that you can put in your parameters turn on and let it rip. I currently trade my money and others with the software. I trade the breakout theory or trade the news on one and i have my own trading system set on the other range theory . i do not market this real hard, though some of the bigger houses have contacted me about it. i currently have it hooked up to the act platform , to hook it up to your platform and api wouldn't be a problem. i do not repeat do not charge a monthly subscribtion fee , nor am i interested in it. i do charge .50 per round turn per mini for the cost of the servers and paying my tech guy. if you are interested at taking a look and seeing if it is a fit for you contact me.

Regards,

Greek

[John Churchill]

Greek,

Would be interested in further details. Is this a stand alone operation or would I need to have my own system to run on it?

Thanks
j.churchill@dsl.pipex.com

[greek]

John,

I have my own parameters on it now. I am pretty sure you could use your own parameters. You can call me at 617 778 2590 or give me a number to contact you. I will give you a demo real time and you can take it from there. I would jack around with it for a while than make a decision. Let me know how I can help.

Greek

[CGM1]

You can go drectly to www.FXDD.com and get metatrader through Forex Direct Dealer.

[joebarry]

Thanks

Originally posted by zuijlen
If you have TradeStation, it may be worthwhile to check the HyperTrader site. They have a number of FREE products, one of them HyperOrder, which lets you connect TradeStation with several brokers.

Currently they list:

• Interactive Brokers Workstation
• FXCM (New)
• RefcoFX (New)
• MAN FX (Available Soon)
• Patsystems(New)
• MB Trading (New)
• MetaTrader

Job van Zuijlen

[amarnath]

Hi all

Historically is there any fully automated system proved as sucessful one on long run

[earth123]

Can anyone recommend a broker whose trading platform has API (application program interface) that I can write software to place trades and get quotes directly without me sitting in front of the computer? (Automatic trading)

[charly0]

I'm wondering if anyone have tried any of these 2 Autotraders :

AutoPilot

Raptor

And can comment on their experience.
Thanks in advance

[ian]

Originally Posted by charly0

I'm wondering if anyone have tried any of these 2 Autotraders :

AutoPilot

Raptor

And can comment on their experience.
Thanks in advance

Weird to see this thread resurrected...

My belief system has shifted slightly over the years. I don't think a 100% mechanical system can be developed that a normal person (ie. not an institution) would be happy trading. The flat periods and drawdowns would be too great.

I've yet to see one of these 'advertised' systems that is successful and 100% mechanical - somewhere along the line you need a touch of discretion, so if it doesn't work the user blames himslef and the vendor can say they aren't applying the system properly.

How many seminars and webinars and printed examples of systems have you seen where the vendor points at a chart and says 'you'd get in here and out here'? And, if you look at the chart a bit closer, you see other potential entry and exit points which the vendor conveniently ignores. Trading this way - with hindsight- - is how most sytems are sold.

And let's be honest, you're not going to buy the Keys to the Kingdom for $47, $97 or whatever. Or necessarily even $4997 or $19997! If trading was easy, everyone would be doing it and most system sellers make more from selling their systems than from trading. Stephen Pierce is a classic example of a marketeer who sold hundreds - probably thousands - of trading systems and made a fortune - but not through trading. Check him out on Google.

How many testimonial have you seen which gush - 'I made $1200 in just two days!'? Heck, what good's that! I want to know how much they made over the last couple of years, in real time, not backtested trades.

pfgbest hosted a webinar last night promoting feltontrading and otto the automated system. Yet somewhere along the line a little bit of discretion was required.

I've seen dozens of systems and signed up for mentor programs and the story is the same. They try to tell you how easy it is but without that little bit of je ne sais quois you won't be a consistent winner with acceptable levels of drawdown.

Well, that's my current belief system and I'd love to be proved wrong.

Ian

[charly0]

Ian
I tend to agree, however if something does work , even for a certain period of time, this means that buying such a system for say 30-100$ and making with it 1000$+ before it stops working, i think its worth the investment.And u get an extremly good ratio on your investment.

I'm looking to hear from people who may have tried these 2

[ian]

Originally Posted by charly0

Ian
I tend to agree, however if something does work , even for a certain period of time, this means that buying such a system for say 30-100$ and making with it 1000$+ before it stops working, i think its worth the investment.And u get an extremly good ratio on your investment.

I'm looking to hear from people who may have tried these 2

Hi Charly,

I can't fault your logic but the problem is, most of these systems have only been backtested on historical data and a) may not even work going forward and, b) you never know when their 'streak' is about to run out - it usually happens as soon as you start trading

I'd also really like to hear from anyone who has these systems.

Ian

[charly0]

Ian,

thats why i posted a new post on it, looking to see if these can serve as small investments,
byt that i mean u dont go for the holly grail, you dont bet your whole acct on it, but u trade small on these and if it works then u have a superb return on investment.
If it doesnt then its a marginal loss, that amounts to the spread between bid and ask on 1 regular lot.
the moment u enterd a trade on 1 lot is basically teh same as giving this systems a chance (cost wise)

[ian]

Originally Posted by charly0

Ian,

thats why i posted a new post on it, looking to see if these can serve as small investments,
byt that i mean u dont go for the holly grail, you dont bet your whole acct on it, but u trade small on these and if it works then u have a superb return on investment.
If it doesnt then its a marginal loss, that amounts to the spread between bid and ask on 1 regular lot.
the moment u enterd a trade on 1 lot is basically teh same as giving this systems a chance (cost wise)

First you have to find a system (or systems) that's profitable.

Go for it!

Keep us informed.

Ian

[wdemilly]

We are using auto-trading successfully at our company (Latitude7.com). We believe there are many reasons for its success, with the two principal categories being (a) a solidly built platform/broker interface, (meaning a dedicated server under human supervision) and (b) the ability to choose a portfolio of systems, each with its own characteristics, so that the "whole" of the portfolio is superior to any one or two strategies alone.

Choosing the individual strategies takes a great deal of time and CPU power, along with some common sense regarding any particular strategy's performance (avg win, PL ratio, spreads, slippage, diversity as related to the portfolio itself etc).

Even with all this work there is no guarantee that our systems will produce fantastic or even modest profits. We only know how our systems have done in the past. If we feel one is going astray, we will remove it. We will also occasionally override a system to "bank" profits if we believe it will help overall performance.

So I suppose the summary of this is that auto-trading can be a successful venture, given the resources to choose the right systems and run them under supervised conditions on a dedicated server.

[wdemilly]

I agree that most commercially available forex systems are rubbish. As any code-writer in this forum knows, it is fairly easy to create an EA or TradeStation Strategy which demonstrates great performance in the past.

One can come up with a "straight-line" backtested system without much effort. The problem is that most commercially hyped systems use tricks, such as carrying losing trades forever, or assuming an impossibly low spread, or using so many variables that all the code writer has done is simply write a polynomial equation to fit an equity line to historical prices (i.e. curve-fitting). When these systems go live, the code tends to fail. And so does performance.

After looking at over 1,000 forward-tested systems we believe that perhaps only one percent are tradable. We (latitude7.com) also believe that it is best to search for negative correlations in such systems, and to trade as many as possible, across as many pairs as possible. This way, when system "A" is failing, systems "B" and "C" etc. will in theory even out the results, and at worst, reduce the drawdown substantially below that of any single system.