I'm working on a couple intraday systems that may make it to the autotrading stage and would like some feedback. I'm curious which brokers have worked for others. I saw a discussion about using Tradier but they were using Thinkorswim as a data feed. Any feed back on a setup you use currently would be appreciated.
Thanks in advance.
Thanks in advance.
Rename
Depends on the instruments you trade (stocks, futures, forex, options?), how often (trades per week?), and even size can make a difference (average number of shares).
Yes I should have included that information. The system would be trading an ETF like SPY/QQQ. The size would be under 500 shares for now. The class of systems I am currently looking at would average about 5 trades per day. Some with no trades and others with potentially 10 to 12 entries and exits.
For now your options are:
Interactive Brokers (IB)
Alpaca
Tradier
Any of the supported stock brokers would work fine, although unless you're already grandfathered for the TDA API, you'll have to wait for the future Schwab conversion.
IB has the fastest auto-trade turnaround but is the only supported broker that charges commission. At 5 trades a day, average 500 shares, 250 days per year, that's $3,125 for commissions. (I personally consider that negligible for that volume of trading.)
IB offers pretty good data, which would be "free" with your trading. For more on data: All About WealthLab Intraday and Realtime Data Providers
Interactive Brokers (IB)
Alpaca
Tradier
Any of the supported stock brokers would work fine, although unless you're already grandfathered for the TDA API, you'll have to wait for the future Schwab conversion.
IB has the fastest auto-trade turnaround but is the only supported broker that charges commission. At 5 trades a day, average 500 shares, 250 days per year, that's $3,125 for commissions. (I personally consider that negligible for that volume of trading.)
IB offers pretty good data, which would be "free" with your trading. For more on data: All About WealthLab Intraday and Realtime Data Providers
I use IQFeed and IBD. They work well together. IQFeed requires a subscription. Even with a small account of 30-50K an auto-trading program will reliably make 500K a day in trades. I've accidently left it running a few times and went off to work. I've found it useful to have a flag that looks at gain/loss for the day or any other means to have it stop trading after a certain metric to prevent trading fees from adding up. It really all depends on how the program is designed.
The folks at Wealth Lab have really improved auto-trading over the years.
The folks at Wealth Lab have really improved auto-trading over the years.
Your Response
Post
Edit Post
Login is required