Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 12/30/2005(UTC)
Posts: 120
|
I would like to setup Metastock for real-time trading and order placement, and discuss with source provider, they can provide API for any third-party software to get quote price and order placement, but they mention I need to do some programming on Metastock in order to make any connection with their API, does anyone have any suggestions on what kind of program I need to write? and do I need any Metastock Development Kit to do it?
Thanks in advance for any suggestions
Eric
|
|
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
|
Let's start with data first: if you have an RT version of MS then you will be getting a data feed from QuoteCentre or eSignal, or if you have done some funky work you might be getting a data feed from somewhere else, but this is quite rare because creating RT data feeds for MS is almost impossible without the Read/Write version of the MDK or another application capable of writing data streams to the data server for reading by MS. If you have got a data feed other than the one provided by your broker, and your trading system is very short term or very sensitive to small aberrations in price, then you must be aware that your trading decisions will be made using one set of data and the trades taken using another set of data. As I said, if your system is very sensitive, this can lead to massive losses.
Depending on how the broker API works and how your trading system works, you might be able to do something simple like use a DDE feed into an application e.g Excel, which then uses VBA or another tool to access the broker API to place your orders. If you have a more complex system then you will need more complex programming, and in any case, this is beyond the capability of the MSFL so will require the MDK.
The scope of considerations for automated trading goes WAAAAY beyond simply calling the broker API and includes redundant data feeds, UPS, secondary servers etc etc etc. Through experience, I have also seen many cases where people have a "successful" trading system when trading manually, but when the system is automated it fails (often spectacularly) because the system definitions are no where near as tight as they are required to be to have a computer trading on behalf of the human. Automated trading is a very scary place and not for the faint-hearted or unprepared!
wabbit [:D]
|
|
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 12/30/2005(UTC)
Posts: 120
|
wabbit wrote:
If you have got a data feed other than the one provided by your broker, and your trading system is very short term or very sensitive to small aberrations in price, then you must be aware that your trading decisions will be made using one set of data and the trades taken using another set of data. As I said, if your system is very sensitive, this can lead to massive losses.
Do you suggest that I should be better to use one single broker to provide both real-time data and auto order placement for Metastock? in order to avoid any small difference in price for data. If Equis only provide offical data vendors (eSignal and Reuters) on feeding data without placing order services, will Equis already set Metastock's position not for auto-trading platform? If anyone tries to use any generating signals from Metastock to place order automatically, then it is a risk, because Metastock is not designed for auto-trade purpose.
wabbit wrote:
Depending on how the broker API works and how your trading system works, you might be able to do something simple like use a DDE feed into an application e.g Excel, which then uses VBA or another tool to access the broker API to place your orders. If you have a more complex system then you will need more complex programming, and in any case, this is beyond the capability of the MSFL so will require the MDK.
The scope of considerations for automated trading goes WAAAAY beyond simply calling the broker API and includes redundant data feeds, UPS, secondary servers etc etc etc.
Do you suggest that if any security firm provides auto real-time trading services, it will be wise to use them rather than DIY? It is too much computing network issue to concern, and will be better giving its responsibility to some professional brokers.
Do you know how long a programmer takes to setup this connection for Metastock with considering your concerned issues?
Thank you very much for any suggestions
Eric
|
|
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
|
Eric, Have a read through some of the other efforts to achieve auto-trading using MS, such as: http://forum.equis.com/search/SearchResults.aspx?q=automatedns for some people to do achieve automated (or semi-automated) trading and, believe me, this is not as simple as a lot of people make it sound. You are barely scratching at the surface of the problem, but kudos for trying [:)] wabbit [:D]
|
|
|
|
|
|
| Users browsing this topic |
|
Guest (Hidden)
|
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
