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Best method to remote trade with Tradestation


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Best method to remote trade with Tradestation

  #1 (permalink)
 
GoldenRatio's Avatar
 GoldenRatio 
Philadelphia, PA
 
Experience: Advanced
Platform: Matlab, TradeStation
Trading: Stocks
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I am not sure where to post this, so I'll post it here since I mainly use tradestation. I am mainly a stock trader but would like to have TS setup on another computer so that when certain conditions (price & volume) are met a trade would be executed. My trades would be limited to just 1-2 per day. My day job prevents me from trading real time.

I am wondering what type of computer I should use (desktop, laptop, Nano laptop alternative, Amazon server, etc.) Ideally it would run 24/7 where I could log in remotely to update trades, etc. I would prefer it not to restart unless done manually.

I really have no idea where to start? Is there a thread where this is already answered? i looked but didn't find what I was looking for. Just looking for something reliable. FYI - I will have the option of using another PC or web based trading from another location if something goes wrong to quickly get out of trades if need be.

Thanks in advance.

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  #2 (permalink)
 
Big Mike's Avatar
 Big Mike 
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Use a VPS in Chicago. Check here for @sam028's Speedy Trading Servers as one such option:



Mike

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  #3 (permalink)
 olobay 
Montreal
 
Experience: Intermediate
Platform: MultiCharts
Broker: DeepDiscountTrading.com
Trading: CL
Posts: 364 since Jul 2011


If you just want to log into your trading computer remotely, you can use TeamViewer - Free Remote Control, Remote Access & Online Meetings. It's free to use for one computer.

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  #4 (permalink)
 
GoldenRatio's Avatar
 GoldenRatio 
Philadelphia, PA
 
Experience: Advanced
Platform: Matlab, TradeStation
Trading: Stocks
Posts: 211 since Aug 2012
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Big Mike View Post
Use a VPS in Chicago. Check here for @sam028's Speedy Trading Servers as one such option:



Mike

Mike,

Thanks for the reply. If it's $60 per month, that's too pricey for what I am after. Simply looking for an economical setup to make 1*2 trades per day (at most.) I may go weeks w/o a trade. Looks like stand along PC may be way to go.

GR

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  #5 (permalink)
 
GoldenRatio's Avatar
 GoldenRatio 
Philadelphia, PA
 
Experience: Advanced
Platform: Matlab, TradeStation
Trading: Stocks
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olobay View Post
If you just want to log into your trading computer remotely, you can use TeamViewer - Free Remote Control, Remote Access & Online Meetings. It's free to use for one computer.

Olobay,

Thanks for the reply - I will look into TeamViewer.

GR

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  #6 (permalink)
 
furytrader's Avatar
 furytrader 
Lake Forest, IL USA
 
Experience: Intermediate
Platform: MultiCharts + CTS T4
Broker: Advantage Futures, IQFeed.net
Trading: YM, ES, EU, US, S
Posts: 153 since Jun 2011
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I use GoToMyPC - yes, it's $9.99 per month but I have found it to be very reliable and I can stay connected as long as I want.

One thing you should consider is to have your system generate some kind of signal or "heartbeat" in the form of an email every hour (or some interval) to confirm that it's still up and running, even when you don't have a chance to log into your system. You could even have the heartbeat email include information on how much trading has been done that day, what open positions you have, what your daily p/l is so far, etc. This will allow you to easily check the status of the system when you're on the road, etc.

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  #7 (permalink)
 
GoldenRatio's Avatar
 GoldenRatio 
Philadelphia, PA
 
Experience: Advanced
Platform: Matlab, TradeStation
Trading: Stocks
Posts: 211 since Aug 2012
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furytrader View Post
One thing you should consider is to have your system generate some kind of signal or "heartbeat" in the form of an email every hour (or some interval) to confirm that it's still up and running, even when you don't have a chance to log into your system. You could even have the heartbeat email include information on how much trading has been done that day, what open positions you have, what your daily p/l is so far, etc. This will allow you to easily check the status of the system when you're on the road, etc.

That is a very good idea, I hadn't thought about that.

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  #8 (permalink)
 
furytrader's Avatar
 furytrader 
Lake Forest, IL USA
 
Experience: Intermediate
Platform: MultiCharts + CTS T4
Broker: Advantage Futures, IQFeed.net
Trading: YM, ES, EU, US, S
Posts: 153 since Jun 2011
Thanks Given: 109
Thanks Received: 147

Two more things to consider:

1) To me, the biggest bogeyman associated with automated trading is the risk that you have a trade on and no stop protecting it. I don't know how your strategy is constructed but you should try to make it so that whenever a new trade is entered, a stop is immediately placed in the market.

I don't use TradeStation for my automated trading; instead, I wrote my own platform that interfaces with the CTS trading front-end. What I end up doing is wrapping my entry orders with pre-defined stops and targets, which are then passed as a package to the broker (and onto the exchange). As a result, if my computer gets hit by lightening, it doesn't matter because all of my orders are already off my machine and at the exchange. If one of my orders gets filled, a stop order and a target order are activated at the exchange. My machine going down could mean that I miss a new opportunity but I guess I value taking an unnecessary loss as more painful than missing out on a potential gain.

Your strategy may not allow you to do this kind of order bundling, but you should make sure that as soon as you get a fill, protective orders are placed. If it's possible for you to get filled after your computer has crashed, you need some kind of contingency plan for making sure that trade is protected with a stop-loss order.

2) When it comes to Windows Updates, do not let them be applied automatically - it's okay for them to be downloaded automatically but require Windows to get your approval before starting the update process. Otherwise, your computer may automatically shut down and restart once a Windows update is completed. That's a surprise you don't want to get!

Good luck!

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  #9 (permalink)
 
GoldenRatio's Avatar
 GoldenRatio 
Philadelphia, PA
 
Experience: Advanced
Platform: Matlab, TradeStation
Trading: Stocks
Posts: 211 since Aug 2012
Thanks Given: 5,192
Thanks Received: 296


furytrader View Post
Two more things to consider:

1) To me, the biggest bogeyman associated with automated trading is the risk that you have a trade on and no stop protecting it. I don't know how your strategy is constructed but you should try to make it so that whenever a new trade is entered, a stop is immediately placed in the market.

I don't use TradeStation for my automated trading; instead, I wrote my own platform that interfaces with the CTS trading front-end. What I end up doing is wrapping my entry orders with pre-defined stops and targets, which are then passed as a package to the broker (and onto the exchange). As a result, if my computer gets hit by lightening, it doesn't matter because all of my orders are already off my machine and at the exchange. If one of my orders gets filled, a stop order and a target order are activated at the exchange. My machine going down could mean that I miss a new opportunity but I guess I value taking an unnecessary loss as more painful than missing out on a potential gain.

Your strategy may not allow you to do this kind of order bundling, but you should make sure that as soon as you get a fill, protective orders are placed. If it's possible for you to get filled after your computer has crashed, you need some kind of contingency plan for making sure that trade is protected with a stop-loss order.

2) When it comes to Windows Updates, do not let them be applied automatically - it's okay for them to be downloaded automatically but require Windows to get your approval before starting the update process. Otherwise, your computer may automatically shut down and restart once a Windows update is completed. That's a surprise you don't want to get!

Good luck!

Thanks again for the insight and tips.

Any recommendations on the type of computer I should use (desktop, laptop, Nano laptop alternative, Amazon server, etc.) Due to initial portfolio size, I am forced to try and keep this at minimum budget.

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  #10 (permalink)
JBroex
Istanbul
 
Posts: 35 since Sep 2020
Thanks Given: 24
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I see this is rather an old post, but i want to give it a little twist.
My main problem is a stable internet connection.
I was thinking of solving this with a remote vpn (Azure?). I use tradestation so i dont know what would be best. Any ideas or experiences to share?

Thanks!

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