How to Automate the Execution of Your Trading Strategies for Equities, Futures, Options, and Forex
Imagine having your computer monitor the markets for you based on your own custom strategies and —when an opportunity arises—having it execute your trades faster and more efficiently than humanly possible. Then once your order is filled, imagine it watching out for your exit, and automatically placing all of your orders. |
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Using
TradeStation’s powerful and flexible EasyLanguage®
technology, you can describe your trading rules—when to get into the market and
when to get out—using simple, English-like
statements and trading terms, very similar to how
you would describe them to another trader. You can
automate virtually any trading strategy imaginable,
including multiple conditional entries and exits,
profit targets, protective stops, trailing stops,
and more. (See strategy
testing section for more details on writing
your own strategies). |
Automate fundamental strategies
Automate strategies based on fundamentals with over 900 historical fundamental reference data fields.
Forex Strategy Automation
TradeStation allows you to fully automate the execution of your forex strategies. It even allows you to specify the built-in stops and strategy properties in the local currency and choose to see strategy results and performance results in the local currency of the symbol or in the currency of your account.
Once TradeStation knows the conditions you're looking for, it actually starts monitoring the markets for you—tick-by-tick—in real-time. The instant it spots a buy or sell opportunity based on your trading strategy for a stocks, options, futures or forex, you hear a voice alert:
"Strategy Order Generated"
Since TradeStation already knows the details of your order, there’s no need to manually type it in. Using the speed of direct-access execution, TradeStation will automatically send your stock, options, futures or forex orders to the major exchange or ECN you've chosen in your strategy. The entire process is virtually instantaneous.* That means that you can literally sit back and watch it execute your trading strategies for you. Of course, you also have the option to have TradeStation prompt you for a confirmation before sending your order.
Once your order
is sent, TradeStation monitors the market until your
order is actually filled, and lets you know with another
voice alert:
"Order Filled"
And that’s
only the beginning...
Once you have an open position,
TradeStation tracks all your strategies’ open
positions in real-time and continues to monitor the
markets based on your trading rules, diligently standing
guard so that you don't miss your exit point—no
matter how simple or complex your exit criteria. TradeStation is even intelligent enough to recognize that certain
things can affect how your strategies are executed in
real-world trading. Things like partial fills, for instance.
Here are just a few examples:
Picture this:
Your equities strategy has just generated an order to buy 1000
shares, but it has only been half filled. So, you’re
long the market 500 shares, and you still have an open
order for 500 additional shares. Well, adapting to partial
fills is no problem for TradeStation. While the market
conditions that generated the entry continue to be active,
TradeStation maintains your open order for the additional
500 shares. But, if your exit order is triggered, TradeStation is intelligent enough to automatically cancel your
open order for the remaining 500 shares.
Have you ever had a strategy
with multiple orders where only one of the orders is
supposed to be filled, depending upon which market activity
or condition occurs first? For example, you’d
like to short at a certain price level, but
go long at another price level. It’s
easy to tie up your buying power with two open orders
if you’re not careful. So, in these instances,
TradeStation can monitor the market, constantly gauging
what order is closer to the current market price, and
make sure that only one order is active at any one
time. The result is that you don’t tie up your
buying power with two open entry orders when only one
is to be filled.
Suppose you’d like to ride market strength, but close
your position if you lose more than 20% of your profits
at any time. Something like this would be almost impossible
to continually calculate manually—especially in
a volatile market where it can matter the most. With TradeStation, you won’t have to worry about
manual calculations. Using the superior processing power
of your computer, TradeStation can automatically recalculate
and move your exit order price for you, keeping up
with the market every step of the way.**
TradeStation integrates custom strategy development, strategy testing
and strategy automation to enable you to trade your
strategies more effectively by allowing you to identify
and react to changes in market conditions. When
seconds can mean the difference between a big gain and
a disappointing loss—as they often can when trading—we
believe you'll find this a significant advantage.
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