I've also been looking into this and I found that you need to
use a combination of tools. One option would be to use the
TradeStation software and their brokerage services but some people
have reported problems with execution of trade orders through them.
The option I'm considering is to use eSignal Premier ($125 monthly)
as the graphing software where the systems will be setup. eSignal
can generate the alerts when moving averages cross, but it can't
send orders directly to your broker. You need to use another
software such as TradeBullet Ultra ($50 monthly) which will get the
alerts from eSignal and send the trade orders to your broker.
Interactive Brokers supports TradeBullet.
Please keep me posted if you use those tools or find anything
better.
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Automated Trading
mechanical trading systems
Posted by mvachon on 19th of Aug 2009 at 11:57 pm
I've also been looking into this and I found that you need to use a combination of tools. One option would be to use the TradeStation software and their brokerage services but some people have reported problems with execution of trade orders through them. The option I'm considering is to use eSignal Premier ($125 monthly) as the graphing software where the systems will be setup. eSignal can generate the alerts when moving averages cross, but it can't send orders directly to your broker. You need to use another software such as TradeBullet Ultra ($50 monthly) which will get the alerts from eSignal and send the trade orders to your broker. Interactive Brokers supports TradeBullet.
Please keep me posted if you use those tools or find anything better.