[Joseph]

Hello there,

I would need some advice from you guys:

Briefly about me beeing new in TL (recently signed up):
I'm studing trading for a year already and practice on live account to for half a year ... I'm looking forward to do some automated trading (first lot's of backtests of course) ...

Question:
1.Wich broker company do you advice for automated trading?
Broker comany: one that gives data I could make backtests on and also make trades based on same data through the same broker comany, data is as much as posible accurate, customer service can be more or less used (I could ad things like thight and low speads, or mini account possibility ... but know that compromise must be made at some point...)

If there is more than one you think I might look at please let me know all.

Thank you in advance.


Joseph

Have you looked at Tradestation yet?

[Joseph]

Forsearch ... the TL's Broker review:

http://www.traderslaboratory.com/for...?do=show&did=2

makes me believe that it is not the one I'm looking for. Data in not so reliable, and the slippage (noted and posted by MC On 03-08-2008) does make me fill unsure regarding if it is a good choise for autotrading ...

Do you know something regarding this slippage? I see from your posts that you use TradeStation (05-20-2008, 08:07 PM). Does it realy makes your stop position move from the appointed position?

An other question ... I read on there page that minimum daily equity balance of $25.000 is required for autotrading (4 or more trades in 5 day period ) so I need $30.000 if like to trade for $5000 ... do I understand it corectly?

Thanks in advance.

Joseph

Actually the data is OK. Can't comment upon the autotrading or the DOM as I don't trade thru TS, just use them for charting.

As for your other question, for equities (stocks) I believe there is a $25K pattern day-trading minimum at most brokerages. This restriction does not exist for trading commodities/futures.

[Joseph]

1. DOM?

2. Which broker do you use then for trading? :-) Do you have more accounts at different brokers for trading?

3. Does it worth for you to open an account for $5K and use their data for charting purpose? I suppose they should have a good charting package then ... do you use Tradestation service for supply of data also, or you get the data from somewere else?

Originally Posted by Joseph »

1. DOM?

2. Which broker do you use then for trading? :-) Do you have more accounts at different brokers for trading?

3. Does it worth for you to open an account for $5K and use their data for charting purpose? I suppose they should have a good charting package then ... do you use Tradestation service for supply of data also, or you get the data from somewere else?

a. DOM -> Depth of Market screens. The trading matrix of bid and ask orders for your trading platform.

b. All traders should have more than one account at more than one brokers. Why? Cause $h!t happens

c. TS is OK for data. If you feel you can trade the monthly minimum to have the fees waived, then by all means, go for it.

-fs

[smwinc]

If you have a profitable automated system, I'd highly recommend at least contacting a few prop. firms to see if they are interested.

What are the most important factors for system traders? Slippage, Speed, and ability to survive draw downs.

Worst case scenario for you - your system doesn't work, and you leave the firm, and you're back to where you are right now.

[Joseph]

Originally Posted by smwinc »

If you have a profitable automated system, I'd highly recommend at least contacting a few prop. firms to see if they are interested.

You mean to sell it to a firm?

Originally Posted by smwinc »

What are the most important factors for system traders? Slippage, Speed, and ability to survive draw downs.

Slippage? How does this manifest? Does it mean: I have a stop placed at a trade and then I loose more then I calculated by placing the stop ... because the stop goes by an unknown fact in the not desired direction?

Draw down? Does this mean loss from balance?

Originally Posted by smwinc »

Worst case scenario for you - your system doesn't work, and you leave the firm, and you're back to where you are right now.

You mean I get hired because of my strategy ... and later on if not works got to go? ... I think better then make an own firm if you wish to do it through a firm