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Strategies & Market Trends : Trading For A Living
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To: Tai Jin who wrote (217)5/23/1998 8:13:00 PM
From: Eric P  Read Replies (1) of 1729
 
Tai:

The automated order entry was a bit difficult to set up. Without getting into too much of the technical details, we set our computer up to talk to the brokers computer over the internet. This is much the same way as any other trader might do who uses a fast internet broker like Castle Securities, AB Watley or MB Trading. The only difference is that the order is being placed from our computer using our software versus the brokers software.

During the actual order entry, a message is sent from our computer to the broker. The brokers computer then replies back an order acceptance confirmation to us and routes the order to the appropriate place (Nasdaq, Island, etc). When the order is executed, a message is sent back to our computer from the brokers computer, with all of the necessary information confirming the trade. The process is similar to cancel or change an order.

-Eric
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