This article describes how you can automate strategy independently of broker or charting software through windows macro scripting. To get information about various automation platforms, click Algortihmic Trading Software.
- 1 Automated Trading in Nest/Now/ODIN/FAST
- 2 Automated Trading Software for Manual Traders
- 3 Legality of Such Automation
- 4 Broker Independent Automated Trading
- 5 Limitations of Such Automation
- 6 What is Macro Scripting?
- 7 APSAT- Automated Trading Foundational Course
Automation for Amibroker/NinjaTrader/Metastock/Falcon/Spider
Each of these software can be programmed to alert with pop-up/sound/email when a trading signal is generated or a stock is found in scanning criteria. You can use windows scripting to automate an action when a signal is generated- like punching order in your broker provided terminal.
Automated Trading in Nest/Now/ODIN/FAST
Macro script can partially automate trading by automatically select scrip, quantity, limit price and then sending order to exchange. Such order punching can be initialized when alert is received from charting software.
Automated Trading Software for Manual Traders
You can also automate conditional orders- such as automatic filling of quantity/price/trigger price/disclose quantity etc. when F1 or F2 is pressed. What’s more, the complete order with pre-specified conditions can be sent with a single key-press of F1/F2. Related article: Shortcut Keys for Trading
Legality of Such Automation
Using macro scripts, the user is basically automating only the repetitive computer tasks such as filling quantity or confirming order. This is similar to setting up and auto responder to your emails. The decision making is done completely by the trader, only the repetitive computer clicks are automated.
As such, for this automation, any regulatory approval is not required. However, plese note that tampering/modifying your broker’s software is a serious offence.
Broker Independent Automated Trading
Since macro scripts are tied up only to software, there is not any dependence of broker using this method of automation. If you are not satisfied with your current stock broker, you can change broker with some changes in the macro programming. Macro setup may require initial setup
Limitations of Such Automation
Such automation is not beneficial for strategies which require server-side execution. Also, there may be some limitations inherent to the charting software which is being used to generate signals. Further, this is a jugaad method with many functional limitations.
We strongly recommend to use an algo CTCL terminal as per exchange guidelines for algorithmic trading.
What is Macro Scripting?
A Macro is a program which automates a sequence of keystrokes and mouse gestures. A very common example of a macro script is a batch file. The older versions of windows used the AUTOEXEC.BAT file which contained the steps that OS went through when starting up. Another example: the CONFIG.SYS file controls how the computer’s hardware is configured each time it is restarted.
APSAT- Automated Trading Foundational Course
For a comprehensive learning about Automated Trading, click Amibroker for Professional Strategy Design and Algo Trading (APSAT)