Perhaps we should start a separate thread...something like "programming your own trading tools".
I've also been looking for a way to design my own order entry. I think everyone would agree that what's available with RT3 or Cyber is far from perfect.
Just the ability to simply press a button that says 'sell your position in CSCO', in other words having order entry that keeps track of your positions would be an improvement.
Basically the order entry should:
1. Keep track of the current bid/ask and island book of the stock you are looking at.
2. Watch the price action so it can change it's behavior depending for example on the current volatility.
3. Keep track of your positions, so you can sell them with a single press of a button.
4. It should be scriptable, and we should be able to exchange scripts just like we can exchange pages.
For example... let's say I want to buy some CSCO.
I'm looking at a CSCO chart. I right click on the chart, chose 'buy' from the menu. Order entry window appears. It looks at my current buying power, and then at my script to see what percentage of my buying power I like to use for any single position. This is then rounded down or up to the nearest 100 shares (or something else, depending on the script). I can change this in increments again defined in my script and based on percentage of my buying power.
The price is automatically set to... for example, improve the bid if possible, or join it. It would update automatically so I wouldn't have to constantly adjust the price if the bid goes up/down. Etc, etc, etc. The possibilities are numerous, if they only allowed us to script the order entry.
I assume that Townsend Analytics won't release their API because once they do, you can practically write your own alternative to Real Tick. I was wondering if anyone has considered alternative ideas, such as DDE (is this possible?), or even ridiculous hacks, like mouse macros, or just hacking the mouse driver to accept input over a network, or anything that would somehow allow writing your own order entry system. |
