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Some brokers and firms are using an Excel Trading Spreadsheet to enter orders and manage trades. Is it useful for both traders and brokers or only for broker?
Can you help answer these questions from other members on NexusFi?
Excel sheets are used for manual order entry. It is certainly not useful for the broker, as manual entries have two disadvantages. They are error prone and labour intensive.
For a broker it is easier to let the customer directly enter the orders via the interface of a broker supplied software.
The only advantage that I see with using Excel sheet, is that it makes it easier to evaluate your trade performance. But then I would try to use an appropriate trading and charting software for trade execution and later export the trades to Excel for analysis.
Excel is probably the most widely used tool in the financial world, often to the dismay of programmers. It's really easy to use, and with VBA one can do a lot. Alternatively one can write add-ins in C/C++ or use something like Excel-DNA for .NET programming. I only started learning to program this year, so I am definitely not the guy to ask about that!
I use Excel as a quote board, but also for basic real-time and historical analysis. There are lots of people using it for automated trading. I should note, however, that I have moved most of my analysis to MATLAB. The goal is to create a custom application next year.
There are so many resources on the web; search and ye shall find.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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