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Any kind of mechanical trading system developed is not "mechanical"
if it requires human intervention to placed an order. What if the
trader chooses the option to overwrite the system signal? With
technology nowadays, it's possible to link the stock analysis
software to the direct access trading provider. The following is what
I got from "Stock Watch Pro" and it's a very useful function. I hope
the direct trading access to InteractiveBrokers (IB) can be
implemented within Amibroker (through SWP API?). If AB can offer an
option to automatically (one can turn this option off if one is not
confortable to fly with autopilot) send an order to a broker such as
IB upon getting an alert, then it has the potential to develop a true
mechanical trading system.
>From Stock Watch Pro: "Direct Access Trading allows you to specify an
order during alert setup and have it automatically sent to your
broker when alert is triggered! SWP API enables developers to capture
orders in their applications when alert triggers. In the example
above, the program will issue a Buy order for 100 shares @ market
price on Island expiring at end of day and play the selected sound.
When alert is triggered, check "Send Trade" option to send the preset
order for execution.
Alerts provide various types of notifications: visual (popup message,
flashing taskbar indicator), audible (sound, symbol announcement),
message (e-mail, pager, cellular phone). Use Edit --> Preferences,
Alerts tab to configure desired methods of notification. "
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