|
PureBytes Links
Trading Reference Links
|
Dennis.
As much as I think that your product sounds good, but doesn't that mean
you create a product for a product that is NOT supported anymore
(TS2000i). Think of the consequences. In all fairness every buyer of
TS2000i and any add on should get a notice of that. Imagine you buy a
car and you don't get service for that car anymore? Wouldn't you want
the dealer to tell you?
Regards.
Volker
-----Ursprüngliche Nachricht-----
Von: Dennis Globa [mailto:globa@xxxxxxxxxxxxx]
Gesendet: Freitag, 10. Januar 2003 10:27
An: omega-list@xxxxxxxxxx
Betreff: Re: TradeStation 6 and 7 USELESS for Automated Trading - Some
important announcement for automated trading
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!
>
|