ShilohCat:
<<Realtime expert system? What is this?>>
A realtime expert system is difficult to clearly describe, but I'll take a whack at it:
An expert system is sometimes referred to as using artificial intelligence. In short, you program into the system the "knowledge" to do what you would do. ==> Only the computer is much faster, more consistent and can monitor thousands of stocks simultaneously.
A realtime expert system simply implements a realtime datafeed for its monitoring and decision making. For example, I use a satellite datafeed to bring in Level II data and time/sales. ==> The expert system evaluates whether to initiate a trade in a particular stock every time any marketmaker adjusts a quote price or a new trade is reported. This happens several hundred time a second!
As a result, I can be extremely particular in holding out for exactly the trade setup I am looking for. When the right conditions are found, the order can also be placed instantly.
<<Are you writing this code (it is coding, isn't it?) yourself? >>
Yes. Myself and a partner are doing all of the programming.
<<Could you go more into depth on how you made/found/bought your system?>>
I started developing this system ~10 months ago while daytrading stocks. I found that I could find good trading entry/exit points, but the market moves so fast that I could not place the order fast enough to get fills on many promising trades. I had used a high-end expert system package at work for several years and thought it might be a great solution to this problem. So far, I am very excited by the results.
What I wanted in a daytrading system did not exist, so I began developing my perfect platform for conducting daytrading. I have programmed in it all of the features I need. It provides speed, consistency, ability to monitor thousands of stocks and dozens of systems, papertrading capability, etc.
As I said in the previous post, I made my first completely automated trade this past week. I hope to soon have the system running every day using a "portfolio" of profitable trading systems and making 50+ trades per day. Until then, I still have a few additional issues to incorporate, such as accounting for partial executions, etc.
It's been an exciting process. I am looking forward to full scale implementation soon! Let me know if you have any ideas that would be useful to add to create a more 'perfect' trading platform.
Other comments appreciated...
Happy Trading,
-Eric |
