Hey Guys & Girls & Enbies,
as i am in *a bit* of a pickle with my trading i thought about writing some trading software.
I am offended by the utter brokenness of the IBKR-Workstation & the lack of usable(!) Features, that i wanted to write my own anyway. And the company i trade in is *officially* a software development company for finance anyway
Long story short: I want to write software that interfaces with IBs Software (in Settings you can just click 1-2 buttons & any application can interact with it) and boost it up by a wide margin.
Things i want to do first: Proper sorting/grouping of positions in my portfolio. Have "Strategy"-Groups that can be tracked individually over time (even if you leg in/out of a spread for example) without IB breaking the Spread apart & you have to manually track what goes together.
Also: Assigning orders to a strategy. Like "do i have a closing-order set?", "on which position can i write a CC?", ..
Also: Have automatic commitment of orders. So that you can play both sides (this gives you a "You are not a Market Maker"-Warning in IB). Like "buy x iff we drop >10%, sell y iff position is >50% green" and other things. Basically: Implement your Strategy as a "set of rules" that fire even when you are not at your PC.
Also: Rolling-proposals. Select a strategy/spread/... and a target like "roll out for credit, but max 2 months", "notify me if i can roll this to next week for a credit without moving my strikes", "roll out 2 weeks without margin impact", etc. so i don't have to search the option-chain & waste 30 minutes to find a "good" roll.
That is just the things i personally miss in "order management" alone.
Next: Charting. The Level2-Interface is HORRIBLE. I have a bit of knowledge in Data-Vis & had courses about this stuff at university. I want simple(!) visualizations that enable you to "see patterns" before they happen.
Things like: Heatmap in Trading: How to Learn What Market Depth is Hiding? | Bookmap - but not as ugly, better configuration, yada yada yada.
Also: automatic analysis of "support"/"resistance" with those L2-data & visualization directly in the chart.
Also: everything described that you can "see" distinctively can be input as "triggers" for orders above (instead of static "x% green" think of "take profits near resistance, revert position in after breakthrough & next resistance" etc.).
You may know that i am high into Automatisation ..
I mean .. i played EVE-Online, wrote a whole automatic accounting-thingy (yes, as "real" as accounting gets in a spaceship game) to keep track on my trades. Even wrote a undetectable trading bot for fun (it used the visual inputs of the game, decided things & traded. No hijacking of binaries, sniffing in RAM or other "cheap" shortcuts). I want to transfer that knowledge to real-life trading now
As i think most of you are more active traders here (opposed to the other thread with the HODL-guys), would you be willing to throw a few bucks each month in my direction for such a service? Just DM me & if enough people show interest i open another Thread for it. I wont answer here to not clog the thread & go too much OT.
Oh, before i close: the usual "why should i trust you and your software not to steal stuff?". Answer: you should not. In IB the default setting is that external software can only "read" stuff, but not "write" stuff (i.e. execute orders). If i cannot submit orders, then i would just list the "things you should do manually in TWS" like "sell 950/1000 BPS @2.12$" and if i manage to learn the syntax of IBs Order-Name-Field (where you type in i.e. TSLA, you can also type in voodoo to select individual spreads etc.) then it is more like "copy/paste this, set price, check, submit". If you trust me & the software than this can be automated as well - but that is your decision.
as i am in *a bit* of a pickle with my trading i thought about writing some trading software.
I am offended by the utter brokenness of the IBKR-Workstation & the lack of usable(!) Features, that i wanted to write my own anyway. And the company i trade in is *officially* a software development company for finance anyway
Long story short: I want to write software that interfaces with IBs Software (in Settings you can just click 1-2 buttons & any application can interact with it) and boost it up by a wide margin.
Things i want to do first: Proper sorting/grouping of positions in my portfolio. Have "Strategy"-Groups that can be tracked individually over time (even if you leg in/out of a spread for example) without IB breaking the Spread apart & you have to manually track what goes together.
Also: Assigning orders to a strategy. Like "do i have a closing-order set?", "on which position can i write a CC?", ..
Also: Have automatic commitment of orders. So that you can play both sides (this gives you a "You are not a Market Maker"-Warning in IB). Like "buy x iff we drop >10%, sell y iff position is >50% green" and other things. Basically: Implement your Strategy as a "set of rules" that fire even when you are not at your PC.
Also: Rolling-proposals. Select a strategy/spread/... and a target like "roll out for credit, but max 2 months", "notify me if i can roll this to next week for a credit without moving my strikes", "roll out 2 weeks without margin impact", etc. so i don't have to search the option-chain & waste 30 minutes to find a "good" roll.
That is just the things i personally miss in "order management" alone.
Next: Charting. The Level2-Interface is HORRIBLE. I have a bit of knowledge in Data-Vis & had courses about this stuff at university. I want simple(!) visualizations that enable you to "see patterns" before they happen.
Things like: Heatmap in Trading: How to Learn What Market Depth is Hiding? | Bookmap - but not as ugly, better configuration, yada yada yada.
Also: automatic analysis of "support"/"resistance" with those L2-data & visualization directly in the chart.
Also: everything described that you can "see" distinctively can be input as "triggers" for orders above (instead of static "x% green" think of "take profits near resistance, revert position in after breakthrough & next resistance" etc.).
You may know that i am high into Automatisation ..
I mean .. i played EVE-Online, wrote a whole automatic accounting-thingy (yes, as "real" as accounting gets in a spaceship game) to keep track on my trades. Even wrote a undetectable trading bot for fun (it used the visual inputs of the game, decided things & traded. No hijacking of binaries, sniffing in RAM or other "cheap" shortcuts). I want to transfer that knowledge to real-life trading now
As i think most of you are more active traders here (opposed to the other thread with the HODL-guys), would you be willing to throw a few bucks each month in my direction for such a service? Just DM me & if enough people show interest i open another Thread for it. I wont answer here to not clog the thread & go too much OT.
Oh, before i close: the usual "why should i trust you and your software not to steal stuff?". Answer: you should not. In IB the default setting is that external software can only "read" stuff, but not "write" stuff (i.e. execute orders). If i cannot submit orders, then i would just list the "things you should do manually in TWS" like "sell 950/1000 BPS @2.12$" and if i manage to learn the syntax of IBs Order-Name-Field (where you type in i.e. TSLA, you can also type in voodoo to select individual spreads etc.) then it is more like "copy/paste this, set price, check, submit". If you trust me & the software than this can be automated as well - but that is your decision.