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Greetings,
We started to explore automating trading capabilities in TradeStation 2000i
2 years ago. Those times automated trading was not too popular as it is in
now days. So, we haven't completed and released any product for TS2000i and
3d party brokers those times. However, we found very interesting things that
I want to share with you. We understood perfectly that TS2000i strategy and
brokerage's account should have feedback. Otherwise, you never see the same
data at your brokerage account and TS2000i information. So, such a kind of
automation is just fiction. So, we started to search a way to establish
connection between TS2000i and 3d party broker. Unfortunately, TS2000i
doesn't provide any documented functions to do it. However, we found a
hidden way how it could be done completely seamlessly and without a single
line of code for user. So, it works as follows: TS2000i generates a signal
with definite price. Then the order is transmitted to your broker and after
that executed. It is clear that the execution price may (and it is very
probably) be different. Then TS2000i check's the real execution price and
move buy/sell signal to the actual place on the chart, re- calculates all
stops, strategy report and etc. and any dollar positions basing on this new
real buy/sell signal. So, your next signals will be adequate to your
previous trades. The interesting thing that all this is seamlessly
integrated to TS2000i + some external DLLs and you don't need to write tons
of code as you need with existing products. So, if you are interested in a
such product, please send us e-mails. If we will get enough e-mails to be
sure that product's development will be profitable for us, we will release
it shortly, because 90% of this is done. We just need to put all together in
this project.
So, I offer to continue this discussing since I feel this topic is very
important and interesting for many traders.
Dennis@
TS Support
www.tssupport.com
----- Original Message -----
From: "Progster" <progster@xxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Thursday, January 09, 2003 9:15 PM
Subject: TradeStation 6 and 7 USELESS for Automated Trading
> Am I the last one to figure this out? (Probably) You'all can laugh
now...
>
> I don't even want to start re: my feelings about this (the time, the
effort,
> the money...), but I do want to confirm, or counter-confirm, the facts
(and
> offer my conclusions).
>
> What I believe the facts to be, for equity traders, based on the existing
> TS6 platform and the announced feature set for TS7:
>
> 1. Any strategy set for automated operation WILL fail at some point when
> the strategy's idea of your position disagrees with your actual position.
> This is because strategies have NO IDEA what your actual position is.
They
> just guess, and eventually the guess is wrong. Period. When the
'position
> match' goes FALSE, the strategy stops operating.
>
> 2. Even a skilled programmer cannot work around the problem imposed by
the
> Automation Engine (See #1). EasyLanguage does not offer access to factual
> data on the trader's actual positions.
>
> 2. TS7 does not fix either #1 or #2 (at least not for equity trading).
>
> 3. TradeStation Technologies, Inc. (if I am referring to the appropriate
> entity here), has not committed to fix this problem, ever. They offer
only
> the usual, if I may paraphrase, "thank you for your comments, we are
always
> considering ways to improve the platform" commentary on this CRIPPLING
> issue.
>
> If these are not true facts, I'd like to be corrected by the members of
this
> list.
>
> My own conclusions, based on the above facts:
>
> a. TradeStation Technologies, Inc. does not want to fix this problem.
>
> Why I conclude this:
>
> - They didn't build TS6 for automation.
> - In the subsequent couple of years, they did not build TS7 for
automation.
> - They have not stated a commitment to fix it, ever.
> - They refuse to implement the simple expedient of disabling the
"position
> match FALSE" shutdown.
> - They have not been willing to even engage in detailed discussion about
> this problem.
>
> b. Advertising for Tradestation which claims or implies that the platform
> can be used for automated trading is fraudulent to the extent of that
claim
> or implication.
>
> Why I conclude this:
>
> - Because the platform cannot be used for automated trading.
>
> So, what we are left with, IMO, is a nice backtesting product, which also
> offers connection to the market for manual trade execution. This is the
> context in which we must judge whether TS6/7 is right for us, now and in
> the future.
>
> Again, If my facts are wrong, I invite correction. If you believe that
TS6
> can be used for automated trading, I'd love to hear how - what CAN be
done,
> what are the caveats, what's worth spending time on and what is a
guaranteed
> waste.
>
> Also, if anyone knows of third-party products or other platforms which DO,
> IN FACT, enable automated trading, I'd really appreciate the references.
> THANKS!
>
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