I'm trying to select an automated trading platform and am keen to greedily benefit from the wealth of experience present on this forum. I have previously undertaken my own analysis using a VBA-based Excel tool that I constructed however this has become unweidly due to its size.
I have been through all of the platform selection-related postings I could find on this site however the posters had different requirements than I (they were singularly Forex focused). Secondly, there appeared to be little concensus on the recommended platform (potentially as a result of a failure by the original poster to properly define their requirements...).
So! In the finest traditions of Traders Laboratory I am very keen for you to trash my ill-informed requirements in the below list (please do not hold back) as well as providing your views on which platform might meet these requirements:
- Low volume - 10 trades per month, ramping up over time
- Low trade size - from $1000 per trade
- Cheap - I want to pay by the trade rather than shell out $100 a month as well as pay per trade (appreciate there is a cut-off point in RT's at which this becomes achievable)
- Capacity to back-test my own indicators/strategies in variety of timeframes, combine multiple indicators including volatility
- Well structured and effective programming language that is worth taking the time to learn
- Fully auto - want to implement my strategy and for round-trip trades to take place automatically without requiring my confirmation
- Free demo - keen to ensure the platform works well for me before investing my time in it
- Effective online learning resources - TradeStation appears to do well here - significant knowledge base including tutorial videos and existing code
- Online and firewall-friendly - able to access from work (preferable rather than essential)
- Trade equities, notice a lot of these only trade the more exotic instruments. Must include FTSE.
Platforms I have looked at/heard mentioned:
- Tradestation - appears to have good learning assets
- Interactive Brokers - on first look this appears to meet requirements
- Zulutrader
- WealthLab - looks a little rough around the edges compared to some of its competitors (not necessarily a bad thing)
- MetaTrader - looks expensive and possibly beyond my meagre requirements
- Prodigio - 6 month back-test could be annoying, though I suppose I can see the benefit in breaking the testing down into six-month chunks
- Anything else I'm missing?!
Yours in keen anticipation of your expert knowledge,
Cheesebar