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I have started looking down this path where I need something that can do a few things. 1) I have an account with Questrade, I need to enter the same trades on
by marketgod 8y ago
I have started looking down this path where I need something that can do a few things.
1) I have an account with Questrade, I need to enter the same trades on Interactive Brokers once I enter on Questrade. Also, I have customers who want to follow my trades, so if they can hook in and buy and sell at the same time I do, based on the same account balances, it can work for me.
2) I have a system where I enter if the stock price is > X. I use conditional orders for this now, so it doesn't really need to be automated, however it would be nice and would save me time.
3) The exiting is not automated because it's based on market sentiment, however, I wouldn't want to insert my data into any system that can leak the data. I could go for something where I put in supports, and instead of placing a stop order, it monitors the stock to fall under a price, and then stop me out using a market order. The reason I need this is because I would rather not have my stops advertised to brokerages.
4) Monitor my profile and alert me when a stock moves 5%,10% using beeps. This would be read-only. Something I am looking to do already.
The biggest drawback, what happens if the system fails? Are you going to reimburse me? If I write my own code, it's my own fault. Trusting someone else's code is hard to do. Also, if something breaks, how fast will it be fixed?
In the end, what I am doing now is conditional orders with a trailing stop that I adjust accordingly.
- throwawaymath 8y agoFor those of you reading this and thinking this person has any idea what they're talking about, I'd like to direct your attention to their website: http://marketgodfathers.com http://marketgodfathers.com (as listed in their profile). In particular, note that this titan of industry advertises a monthly subscription service for options trading 1) with absolutely no technical or nuanced financial terminology, 2) using words like "play" to refer to trading, and 3) with wealth-centric hype videos from The Wolf of Wall Street and American Gangster. Run, don't walk, from this person's advice.
- marketgod 8y ago:) I didn't want to waste more words responding to you, but I had to add three more sentences. As I said, I am the best. My trolls disappear fast [1]. [1] https://www.reddit.com/user/marketgodfather/comments/8vm9jt/rmarketgodfathers/ https://www.reddit.com/user/marketgodfather/comments/8vm9jt/...