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MultiCharts Automation with IB


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MultiCharts Automation with IB

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  #1 (permalink)
 VanderTrader 
Toronto Ontario
 
Experience: Advanced
Platform: TradeStation and MultiCharts
Trading: ETFs
 
Posts: 17 since Nov 2011
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Hello all,

I am using MultiCharts and intend on autotrading through Interactive Brokers. I would like to get some suggestions and advice on what can be done to minimize the risk of technical failure. So, the first thing I thought to do was to use a server rental service to ensure maximize internet connectivity up time and reduce the exposure to one specific computer which could fail. Can / should one subsrcibe to multiple data sources in case one fail?

What else can be done to create redundancies?

Thanks in advance.

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  #3 (permalink)
 sam028 
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Their is a lot to say about this, but the main thing are:
- having the bot running on two servers which are in two different places
- having a strategy which do the job (buy/sell) on one server, and another one which is just monitoring the activity of the first one, and which is able to hedge or close the positions if the first bot get crazy, or lost communication (we can call that an heart-beat)
- whatever the security of your server, in serious hosting companies (redundant network, Raid on servers, big UPS everywhere, ...), something will fail, it always failed (storms in Chicago last year, floods, ...), so it's not a good idea, IMHO, to put all your eggs in the same nest.
I know that some of my VPS users (see this thread) use this method.

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  #4 (permalink)
 VanderTrader 
Toronto Ontario
 
Experience: Advanced
Platform: TradeStation and MultiCharts
Trading: ETFs
 
Posts: 17 since Nov 2011
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How much is an average server rental? Two could get expensive but better safe then sorry.

Currently I am using my TradeStation data with MultiCharts. When I autotrade with IB, will I continue to use my own datasource, or do I use IB's? If I use my own, does it make sense to have a back up data provider as well?

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  #5 (permalink)
 MultiCharts 
Columbus, Ohio, US
 
Experience: Intermediate
Platform: MultiCharts
Broker: Multiple/Multiple
Trading: ES, EUR/USD
 
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The main risk is not enough testing of your strategy on a SIM account with supervision. You should run it for days, depending on the number of trades it takes, and only then start focusing on the tech issues.

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  #6 (permalink)
 sam028 
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I agree with @MultiCharts, the first thing is to let your bot run enough time in simulation mode, in real-time, and then think about how to secure the process when you're ready to go cash.
There are multiple technical solutions to secure a bot, but it's maybe something to think about a bit later.

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  #7 (permalink)
 VanderTrader 
Toronto Ontario
 
Experience: Advanced
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Trading: ETFs
 
Posts: 17 since Nov 2011
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I agree as well and I plan on doing that. But for future planning purposes, I still wonder what can be to create maximum redundancies.

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  #8 (permalink)
 VanderTrader 
Toronto Ontario
 
Experience: Advanced
Platform: TradeStation and MultiCharts
Trading: ETFs
 
Posts: 17 since Nov 2011
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Has anyone ever used a hosting service like te following for their automated trading?

Triage Trading | Critical Technologies for Demanding Traders | Triage Trading

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  #9 (permalink)
 atata 
Calgary, AB
 
Experience: Intermediate
Platform: NT, IB, TOS, MC
Broker: IB, Rithmic
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Just wanted to give you a feed back on my experiment just within the last week. I've traded my live IB account for 2 days using MC 7 Beta 1 and as far as I am concerned no issues were encountered.

I've traded 1 TF futures contract and I did not have a chance to analyze very closely yet but I did not notice any slippage. I probably had ~20 contracts traded through the 2 days which were not full days of trading.
I've used Zenfire for datafeed /was trading tick charts/ and IB for execution.

IB version details below, which is I think still the supported version by Ninja or at least was not a long ago.
Build 917.8, May 24, 2011 3:03:14 PM Jolt Build 1.1.9, Mar 30, 2011 03:57:37 PM Nia Build 1.8.0, Mar 30, 2011 06:17:06 PM ModelNav Build 1.1.32, Mar 30, 2011 04:02:07 PM Java Version: 1.6.0_25 OS: Windows 7 (amd64, 6.1)

Symbol mapping still s***s on MC compare to Ninja, however this was the only issue I've encountered so far with the updated MC7.
note: when MC 7 came out first this summer I've spent a ton of time with support on "things" and after ~2 weeks I gave up since I've realized I was spending most of my time on fixing-chasing problems rather than trading.

My hardware setup includes a Dell Inspiron 17" Laptop, OS Win 7 Pro, 64 bit with 6GB memory.
Cable internet connection: ~5 MB down, ~500 KB up. I was connected to my DLINK 630 via wireless from the laptop.

As you can see no "real" high tech was used.

As some of the comments before me. First test, test but FORWARD test. If you can make money with your strategy consistently than implement such measures you have mentioned.
I do not recommend "high frequency" trading with the above setup for sure.
Since I've upgraded to Beta 2 which I assume shall be more stable than Beta 1.

Hope it helps!

atata

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 sam028 
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VanderTrader View Post
Has anyone ever used a hosting service like te following for their automated trading?

Triage Trading | Critical Technologies for Demanding Traders | Triage Trading

If nobody at futures.io (formerly BMT) tried it, I think it's not very popular tools...

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  #11 (permalink)
 MultiCharts 
Columbus, Ohio, US
 
Experience: Intermediate
Platform: MultiCharts
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Trading: ES, EUR/USD
 
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@atata What exactly didn't you like about the symbol mapping? It was clunky and not very straight forward, so we made a number of improvements in 7.4, which is coming out. If you tell me specifically what you didn't like, I can tell you if that was improved or not.

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  #12 (permalink)
 atata 
Calgary, AB
 
Experience: Intermediate
Platform: NT, IB, TOS, MC
Broker: IB, Rithmic
Trading: CL, ES, GC, ZS, ZB
 
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Posts: 116 since Mar 2010
Thanks: 90 given, 99 received


MultiCharts View Post
@atata What exactly didn't you like about the symbol mapping? It was clunky and not very straight forward, so we made a number of improvements in 7.4, which is coming out. If you tell me specifically what you didn't like, I can tell you if that was improved or not.

At first I did not even bother to try to do it myself the symbol mapping based on past experience and asked support to help out. While I was watching it seemed to be working fine.
note: as usual support was fantastic...
That was on my IB paper account. As soon as I've switched over to my IB live account the mapping had to be re-done and was able to do it myself. Also if I remember correctly I had to add the TF symbol again via "Quote Manager". The instrument still did not show up and I did re-start both QM and MC just in case. At that point I was able to do the symbol mapping between Zenfire datafeed and IB on the TF chart for trading.
I understand the whole issue is not caused by MC rather the brokers using different naming for the same thing.

Not sure what kind of improvements I can suggest /maybe a step by step how the symbol mapping shall be done and in case switching accounts even if the same broker there maybe an extra step required/.
I have to add as soon as it was done than everything worked as I've expected. I do need to change my strategy and will do first a lot more forward paper trading before try again live trading.

As per improvements maybe it is not a fair comparison because of different architecture etc.. however Ninja symbol mapping is basically none existent from the user's point of view.

Also since I've got your attention, I could not find yet on the BM forum or on the Multicharts website a "good" source of documentation. I am mostly looking for documentation on Power Language code, help, samples etc...
I have the following email with support open and not sure if I shall open a new thread or there is an existing one to get info back on the issues below:

Thanks very much for your time!!!

atata


Quoting 
I am basically looking for some code or functions to achieve the following:
At a max loss wants to set a flag for no more trade. So far I've used "Netprofit" for some of my logic however I am not sure what else is available since the documentation does not seem to be complete.
/I kind of can do the max loss calculation using Netprofit but it is rather complex while I'd think shall be some functions which will provide this info at ease/
See my comments below in #2.

#1
The link below has some documentation such as powerlanguage.chm however when I download it does not work?!

Documentation

Getting the message below. What am I missing?




#2 I've found some new "stuff" under the link however nothing in the documentation anywhere?!

MULTICHARTS 7.2 BETA ? WHAT?S NEW MultiCharts Blog

For example the following looks interesting, but when I'll look in the PowerLanguage Editor under help can't find anything.
GetRTUnrealizedPL
Realized with logic that Unrealized PL = Open PL.

This is for now and we'll go from here.


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Last Updated on December 2, 2011


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