JohnyYuma
60 posts
msg #48754
- Ignore JohnyYuma |
12/23/2006 8:46:30 AM
Does anyone have any feedback on using the Cool-trade automated order entry system with Interactive Brokers's TWS (I mean expereiences/costs/pluses/ minuses etc.) -
Thanks for your help in advance
Johny
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JohnyYuma
60 posts
msg #48908
- Ignore JohnyYuma |
1/3/2007 5:01:16 PM
Thanks for Everybody's response
I did call them up and was surprised at their low fees - only $40 a month (as compared to $100 for Tradestation (not to mention that TS rips you off on options assignments (as compared to IB) - but that's another story)
Looks an okay deal to me (of course,if the software is up to the mark)
Just thought I'll pass it around
Hope this helps
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sswin
12 posts
msg #48918
- Ignore sswin |
1/4/2007 1:00:12 AM
I've been using Interactive Brokers's TWS for a few years. They're doing great job, highly recommended.
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glider
59 posts
msg #49008
- Ignore glider |
1/6/2007 10:17:58 PM
Does anyone know how to consolidate IB's stock purchases and sales on the statements? One purchase can be listed several times. These need to be manually totaled. IB say they can't do it.
Thanks
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drew9
171 posts
msg #50252
- Ignore drew9 |
2/25/2007 9:27:14 PM
JohnyYuma, did you end up trying out Cool-Trade? Just wondered if you had any feedback as I was interested in it myself. Any one else try this yet? If so, please pass along any comments! Also, glider, there are multiple third party tools you can use with TWS such as Gainskeeper to download and keep track of all your trades. Look for the tab on the IB website.
Regards,
Drew
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luc1grunt
622 posts
msg #50260
- Ignore luc1grunt
modified |
2/26/2007 7:10:32 AM
Have you searched elitetrader for reviews?
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bbrodka
14 posts
msg #51361
- Ignore bbrodka |
4/27/2007 5:25:18 PM
I am a Cool-Trade Customer for a few months
I gave nothing but positive things to say about the program, I just love it!
It definitely makes automating your strategies easy, tech support is fantastic!
All that said They also now support TDAmeritrade and TDAmeritrade IZONE (Izone does flat $5 rate trades but no phone support)
They also now support MB TRADING, which has penny per share broker fees up to 500 shares
Anyway back to cool trade
You can set filters for your watch lists, set your entry riles, add position rules, exit rules, and flexible profit taking rules
Over all pretty powerful
Down side is it can only handle one long and one short strategy at one time, but you can get past that with multiple cool trade stations on different broker accounts
If you are looking for an affordable way to automate your trading without having to be a hardcore programmer I think you will enjoy Cool Trade
I start it every morning with the windows task manager and enjoy 100% hands free trading
Enjoy!
PS If you go to the CoolTrade website via the TD AMERITRADE link, it will reduce the monthly subscription price by $10/mo.
http://www.tdameritrade.com/tradingtools/goldpartners.html
other references
http://www.cool-trade.com
http://www.mbtrading.com
http://www.izone.com
http://www.tdameritrade.com
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Niagara
49 posts
msg #51415
- Ignore Niagara |
5/3/2007 11:37:41 PM
Isn't Ameritrade's Trade Triggers a similar service, and free with an account? For another twenty dollars, you can get Advanced Analyzer which is some ways is similar to Stockfetcher.
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drew9
171 posts
msg #51429
- Ignore drew9 |
5/4/2007 10:29:23 PM
I did recently give Cool-Trade a try for a couple of months. I will also say the Technical Support was great. I was not able to invest the time needed to really make it work as I have a good system using SF and decided to stick with it. They have had good success with a below $2 system but the methodolgy kind goes against traditional trading wisdom. They just keep averaging down until the price hopefully rises. Being so used to SF, I also found it difficult as they have end of day indicators and real time. However, not the same ones for both and you cannot adjust the timeframes. The indicators are also different from SF - not that it is bad but hard to duplicate your favorite system from SF into Cool-Trade. Unfortunately, there is no backtesting available so you really have to try out the filters in simulation mode and then make adjustments daily to get it to work. Also you need a fairly powerful computer as it is very processor intensive. My CPU was maxed out the majority of the time. Part of this depends on how many symbols it is following for the long and short side. They recommend around 20 symbols for both short and long as a guideline. This might be a good reason to buy a new dual core processor? Overall, it certainly does work for some and might be worth looking at.
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bbrodka
14 posts
msg #51430
- Ignore bbrodka
modified |
5/5/2007 8:26:50 AM
While Cool Trade does have several working strategies included, it is simply just another tool, if you do not master it you will not build a masterpiece
If your strategy works hand trading, it will work even better auto trading, lets face it our PCs can monitor and react faster then we ever could
Cook Trade works well, very well indead. I can't say I miss sitting in front of my PC all day, I can actually go and do something, confident my auto trader will be tirelessly executing my strategies :)
As far as back testing - CT acts on moment by moment market conditions, I am unaware of any service that recreates the market to that detail and lets you backrest to that level of detail. I use SF Backtesting to see if my strategy is fundamentally sound in it's principles, then I use CT to auto trade it
Back testing in general, as many of you know, never yields the same real world results, but they are entertaining to do none the less
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