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Seeking advice on order routing software to non-TradeStation broker
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Seeking advice on order routing software to non-TradeStation broker

  #1 (permalink)
Elite Member
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Seeking advice on order routing software to non-TradeStation broker

I am running automated strategies using TradeStation, but am looking into opening a brokerage account at InteractiveBrokerage.

Does anyone have experience with using 3rd party order routing software that would route the orders from the automated strategies in TradeStation to InteractiveBrokerage?

I have found the following packages:

https://www.independenttrader.com

TradeBullet

Trading Software & Brokerage | NinjaTrader

Does anyone have experience using these products, or have other suggestions to make?

Thanks!

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  #2 (permalink)
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Omer עומר / Israel י
 
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To my knowledge, tradestation can talk to NinjaTrader using the ATI interface
technically allowing you to root orders to any broker that can be connected to NT
(this includes IB)

You would need an unlimited (multi-broker) license, or at least a version with
license to interface with IB (mono broker existed in the past, not sure it's still
there)

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  #3 (permalink)
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rleplae View Post
To my knowledge, tradestation can talk to NinjaTrader using the ATI interface
technically allowing you to root orders to any broker that can be connected to NT
(this includes IB)

You would need an unlimited (multi-broker) license, or at least a version with
license to interface with IB (mono broker existed in the past, not sure it's still
there)

Thanks rleplae. The option is still there to choose just one broker, but the cost for multi is not that much more. I'm trying to evaluate the best option of those three vendors (or others if they exist) that would present the most stable environment trading multiple markets and multiple accounts. Otherwise I feel like I'm throwing darts and hope I pick the right one.

I have had feedback from Kevin Davey, who uses NT as a bridge with good results. But I haven't heard back from NinjaTrader yet to see if it can be used to trade multiple IB accounts.

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  #4 (permalink)
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Omer עומר / Israel י
 
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risingfire View Post
Thanks rleplae. The option is still there to choose just one broker, but the cost for multi is not that much more. I'm trying to evaluate the best option of those three vendors (or others if they exist) that would present the most stable environment trading multiple markets and multiple accounts. Otherwise I feel like I'm throwing darts and hope I pick the right one.

I have had feedback from Kevin Davey, who uses NT as a bridge with good results. But I haven't heard back from NinjaTrader yet to see if it can be used to trade multiple IB accounts.

  • trading multiple accounts in parallel in NT is not a peace of cake i think...
  • trading multiple accounts, one at a time, that is not an issue in NT

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  #5 (permalink)
Market Wizard
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risingfire,

while this would not qualify your request of routing orders from Tradestation, you might want to take a look at Multicharts as it can support legacy EasyLanguage code and you could connect it to IB directly.

All the routing options I am aware of seem to only work with legacy EasyLanguage orders or issue orders only after the Trademanager reports them as filled.

Regards,

ABCTG

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  #6 (permalink)
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ABCTG View Post
risingfire,

while this would not qualify your request of routing orders from Tradestation, you might want to take a look at Multicharts as it can support legacy EasyLanguage code and you could connect it to IB directly.

All the routing options I am aware of seem to only work with legacy EasyLanguage orders or issue orders only after the Trademanager reports them as filled.

Thanks, ABCTG. I did consider Multicharts at one point. But my system has been fully developed on Tradestation's platform and data feed. While there may not be any translation issues, I suspect that there will be some Easylanguage interpretation differences between Multicharts and Tradestation. My goal is, for now, to keep things as native as possible so that I don't have to go through a huge re-testing and comparison effort.

And, yes, I've been digging into the machanics of bridging software (NinjaTrader and TradeBullet at this point) and see that they route orders using TradeManager's email reporting mechanism when a strategy reports an order signal. That should be fine for my system.

Right now NinjaTrader and TradeBullet seem the best options. It's been a couple of days, but I never got a reply from IndependentTrader, so have no idea how viable that option would be or not.

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  #7 (permalink)
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Omer עומר / Israel י
 
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Trade station should be able to connnect TS to NT to execute the live orders in NT.

TradeStation Connection Guide | NinjaTrader

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  #8 (permalink)
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Thanks, rleplae. NinjaTrader looks promising. I'm in conversation with them now on the NT forums.

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  #9 (permalink)
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There used to be an option to use Infinity AT bridge that would connect to TS to execute orders, back then the fill were much better than RJO offered not sure if that is still the case. I have a copy of the bridge but you may need to go through Infinity to see if they will still allow it to be used as it was developed 3rd party

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  #10 (permalink)
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planetmoto View Post
There used to be an option to use Infinity AT bridge that would connect to TS to execute orders, back then the fill were much better than RJO offered not sure if that is still the case. I have a copy of the bridge but you may need to go through Infinity to see if they will still allow it to be used as it was developed 3rd party

Sent using the futures.io mobile app

Thanks, planetmoto. I think that NinjaTrader is going to have everything that I need. I'll be setting it up in a couple of weeks to test out.

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