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Choice of systems for a particular style/strategy
Started:August 26th, 2010 (05:27 AM) by MotoMoto Views / Replies:994 / 1
Last Reply:August 26th, 2010 (05:27 AM) Attachments:0

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Choice of systems for a particular style/strategy

Old August 26th, 2010, 05:27 AM   #1 (permalink)
Just starting out...
Australia (ex UK)
Futures Experience: Advanced
Platform: IB TWS, IRESS, SC, (ex MC,NT)
Posts: 26 since Aug 2010
Thanks: 14 given, 27 received

Choice of systems for a particular style/strategy

I hope this is the right place whereby others with more expertise may be able to help me.
I have trialed a number of systems – Ninja Trader(NT), Multicharts(MC), Interactive Brokers (TWS) but not in such depth that I can answer this question without even more trial and error.

The aim is to combine an automated entry system whereby I use discretion on which days, and which instruments I will turn it on, and then a further manual/discretionary element whereby I monitor and maintain the stops on any residual trades that result from the automated entries at the end of each session.
(So I use my discretionary inputs for context to decide how to approach an automated strategy.)

This is to have a basic strategy eg; that buys using a MA cross for example - that will trigger on certain instruments when I turn it on, and will fire orders into (TWS). This strategy will scale in (pyramid) and will be either long only or short only.
All it needs to do is automate the entries, and the immediate stop management for the session.
At the end of each session, I will then turn off the strategy and then manually adjust stops in IB every day, and then for the next session, I will decide whether or not to turn on my entry strategy for the same (or different) instrument. Multiple instruments, and possible multiple simple strategies will be used at the same time. A DOM is not that relevant, as I prefer to see a chart unfolding as I am a visual person, but extra indicators and bells and whistles are not important to this.

I hope this makes sense.

Regards the systems – I understand TWS, and for me it works well with regards account settings, margining, markets required etc – So it will be the broker that will be used.
Issues that are not too relevant are…..
Computing language for the strategy is very simple, so the tradeoff between (NT) and (MC) is irrelevant, and I can work out any simple extras I require.
All manual trades can be implemented in (TWS) so I don’t need to worry that (MC) does not have this.
While (MC) may have better charts, this is not relevant.

The question is…..

While I understand the general differences between (NT) and (MC), I was wondering if someone had advice as to which system would be the most reliable and easy to use to implement such a strategy in terms of things like….?

-managing accounts from within the system
-data management – will largely come from IB, and will be run on 5min and greater charts
-daily updating and turning on and off the strategies…ie; you don’t want to spend 1 hour trying to adjust things each time. You ideally just wish a plug and play for the strategy.
- reliability with regards TWS and issues that will not massively slow down the computer etc;

PS – please only objective answers, it not necessary to say “ABC system sucks cause my fills are crap”, and would also happily be open to alternative system recommendations - but these two seem the obvious choice.


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Old August 26th, 2010, 05:27 AM   #2 (permalink)
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