Stocks & Commodities V. 23:2 (76-79): Product Review: TradeBolt by David Penn
Product Description
Stocks & Commodities V. 23:2 (76-79): Product Review: TradeBolt by David Penn
Do the same factors that make a good order entry platform also apply to automated trading software? If anything, the best automated trading software platforms will be everything that good order entry platforms are, and then some. After all, even the most ardently automatic trader will from time to time want (or think he or she wants) the ability to grab the steering wheel and finish the race on his or her own. And if this is the case, that trader will want an automated trading system that will perform with the same speed, accuracy, checks, and system integrity as the best manual order entry systems.
At the same time, the buyer of an automated trading software platform likely will put significant additional demands on his or her chosen system. The platform, for example, must be highly integrated with the trader’s preferred charting software. Yet the best automated trading software platforms will be configurable enough to allow the trader to “program out” any unwanted peculiarities in the charting/data platform. Again, on the issue of integration, the automated trading software must not only “play well with others,” but the software — or at least the best software — should also be extensible enough for developers and even individual, code-writing, retail traders to be able to add functionality that suits their particular trading needs. For some automated trading software packages, this combination alone — tight integration on the one hand and, for lack of a better phrase, easy extensibility on the other — is too much accomplishment to ask for.
Do the same factors that make a good order entry platform also apply to automated trading software? If anything, the best automated trading software platforms will be everything that good order entry platforms are, and then some. After all, even the most ardently automatic trader will from time to time want (or think he or she wants) the ability to grab the steering wheel and finish the race on his or her own. And if this is the case, that trader will want an automated trading system that will perform with the same speed, accuracy, checks, and system integrity as the best manual order entry systems.
At the same time, the buyer of an automated trading software platform likely will put significant additional demands on his or her chosen system. The platform, for example, must be highly integrated with the trader’s preferred charting software. Yet the best automated trading software platforms will be configurable enough to allow the trader to “program out” any unwanted peculiarities in the charting/data platform. Again, on the issue of integration, the automated trading software must not only “play well with others,” but the software — or at least the best software — should also be extensible enough for developers and even individual, code-writing, retail traders to be able to add functionality that suits their particular trading needs. For some automated trading software packages, this combination alone — tight integration on the one hand and, for lack of a better phrase, easy extensibility on the other — is too much accomplishment to ask for.
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