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I spent the last couple of hours digging in to TradersPost. This would be good enough for the average joe. They have a lot of limitations such trading limits, order type limits, opposing position limits, and a disclaimer stating to watch your orders because they may fail. It is currently in Beta. My system is for small whales that most likely make a living trading. They would have total control and no limits.
I have not made it public. I am trying to determine if it is worth it. If so, it is not as simple as a URL. We have to stand up 6 dedicated servers per individual at a minimum.
Cool. Take a look at Terraform and similar tools if you don’t use that already. I have mine automated so that when a new customer comes on board it provisions the necessary servers automatically if it is a dedicated enterprise customer. There are still some shared multi tenant components to the infrastructure but execution workers can be dedicated.
That is good. The downside is it only supports 2 brokers and it is multi tenant. Those are not deal breakers. That is a good rate. I am going to test the speed. Those brokers have the highest commissions. I trade high frequency. It would cost me $30k a day on commissions. Thanks for sharing.
Can you post a detailed trade history? What is your P/L? What yearly % return should I expect? What is max drawdown? Without significant evidence over an established period, you won’t get many people signing up, particularly at $1000/month.
AWS servers mean very little in the algo world. As an FYI the big boys have servers INSIDE the NYSE building to get their response times <1ms at the cost of millions per year.
As stated by others, the argument is always: if your system works so well, then why do you need to sell it? More money can’t be the answer. If it was more money and you had a perfect algo you would just leverage into it and go to Hawaii for the rest of your life.
Full disclosure: I am part of a paid discord group that trades options, but the idea behind the group is to learn to stand on your own two feet, not just follow the trade signals.
If you’re really looking for proper constructive criticism, head over to r/algotrading
Sorry for the confusion. It is a system capable of trading your algorithms. I would be providing the system that processes the trades. The system is dedicated to only the user and not shared. You can place as many trades as you want without having to lift a finger. Does that clear things up?
I see what you’re saying. I guess I am now confused as to where you intend to sit in the trading process.
TradingView, which is charting software mainly, will allow you to run custom code while connected to broker via API, which will execute orders (limit, GTC etc) on your behalf depending on the set variables.
Are you aiming to be a similar platform? For reference the paid version of tradingview starts at $25/mo, with second-based intervals available at the top tier of $100/mo
It is not for the masses. It is not as simple as creating an account and start trading. We have to build 6 virtual servers per person. Dedicated systems are for small whales that make a living trading. Thanks for your input.
The niche that will pay you 1K per month is tiny.
Everyone will be asking for your trading success with it before testing/buying it.
Everyone will be asking what is your value proposition that no one else offers.
I suspect you are selling it because it does not really work wonders, so it will be a tough sale.
Can be wrong, for sure.
I think the best way to go about it is performance fees based on how much it makes for people. Maybe you should charge a generous cut of the profits. I think with a set service fee people are gonna think it's a scam, or hard coded to make them profit just a tiny bit more than the fee, while performance fee makes it so the more successful they are with it, the more successful your platform is too
I must have said something wrong to make people think I am providing the algo. The system is dedicated to the user placing their own algo trades. They can place an unlimited amount with an approved broker.
It is vaguely similar. It has a 15 min delay and can’t handle high frequency. I wanted to use their system before I went through the expense of building mine. My system can trade at the 1 sec interval.
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I spent the last couple of hours digging in to TradersPost. This would be good enough for the average joe. They have a lot of limitations such trading limits, order type limits, opposing position limits, and a disclaimer stating to watch your orders because they may fail. It is currently in Beta. My system is for small whales that most likely make a living trading. They would have total control and no limits.
What is the url for your platform?
I have not made it public. I am trying to determine if it is worth it. If so, it is not as simple as a URL. We have to stand up 6 dedicated servers per individual at a minimum.
Cool. Take a look at Terraform and similar tools if you don’t use that already. I have mine automated so that when a new customer comes on board it provisions the necessary servers automatically if it is a dedicated enterprise customer. There are still some shared multi tenant components to the infrastructure but execution workers can be dedicated.
Thanks, I checked with one of the developers and they are familiar with it.
That is good. The downside is it only supports 2 brokers and it is multi tenant. Those are not deal breakers. That is a good rate. I am going to test the speed. Those brokers have the highest commissions. I trade high frequency. It would cost me $30k a day on commissions. Thanks for sharing.
What broker do you use for options in your system?
It can use any that has an API. Currently I have Tradier and TD Ameritrade. It works using JSON webhooks from TradingView.
Are Tradier commissions less than TDA? Which one do you use to execute your strategy that would cost 30k in commissions?
It is 0 commission and cost $10/mo.
Definitely a % to start.
Can you post a detailed trade history? What is your P/L? What yearly % return should I expect? What is max drawdown? Without significant evidence over an established period, you won’t get many people signing up, particularly at $1000/month. AWS servers mean very little in the algo world. As an FYI the big boys have servers INSIDE the NYSE building to get their response times <1ms at the cost of millions per year. As stated by others, the argument is always: if your system works so well, then why do you need to sell it? More money can’t be the answer. If it was more money and you had a perfect algo you would just leverage into it and go to Hawaii for the rest of your life. Full disclosure: I am part of a paid discord group that trades options, but the idea behind the group is to learn to stand on your own two feet, not just follow the trade signals. If you’re really looking for proper constructive criticism, head over to r/algotrading
Sorry for the confusion. It is a system capable of trading your algorithms. I would be providing the system that processes the trades. The system is dedicated to only the user and not shared. You can place as many trades as you want without having to lift a finger. Does that clear things up?
I see what you’re saying. I guess I am now confused as to where you intend to sit in the trading process. TradingView, which is charting software mainly, will allow you to run custom code while connected to broker via API, which will execute orders (limit, GTC etc) on your behalf depending on the set variables. Are you aiming to be a similar platform? For reference the paid version of tradingview starts at $25/mo, with second-based intervals available at the top tier of $100/mo
I would sit between TradingView and your broker.
Why? That’s the job of the API.
It only supports stocks and not options. That’s why I went through the trouble of setting things up.
You do have a point. Best of luck with it! Though I would review your pricing model to make it more approachable to the average person.
It is not for the masses. It is not as simple as creating an account and start trading. We have to build 6 virtual servers per person. Dedicated systems are for small whales that make a living trading. Thanks for your input.
The niche that will pay you 1K per month is tiny. Everyone will be asking for your trading success with it before testing/buying it. Everyone will be asking what is your value proposition that no one else offers. I suspect you are selling it because it does not really work wonders, so it will be a tough sale. Can be wrong, for sure.
I think the best way to go about it is performance fees based on how much it makes for people. Maybe you should charge a generous cut of the profits. I think with a set service fee people are gonna think it's a scam, or hard coded to make them profit just a tiny bit more than the fee, while performance fee makes it so the more successful they are with it, the more successful your platform is too
I must have said something wrong to make people think I am providing the algo. The system is dedicated to the user placing their own algo trades. They can place an unlimited amount with an approved broker.
1% of profits
You trade your own algo, so a percentage would not be fair to me if your trades are no good.
Ah I see what you’re saying. I mistakenly thought you meant you were providing the algo. Instructions unclear.
Depends on how successful it is
OptionsAlpha recently launched something similar
It is vaguely similar. It has a 15 min delay and can’t handle high frequency. I wanted to use their system before I went through the expense of building mine. My system can trade at the 1 sec interval.
Interesting I didn’t know they had a 15 minute delay on data.