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mslk

Looking for Broker\system Setup Recommendations

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Hi,

 

I've been using a combination of google finance to track my positons and TD Waterhosue Webbroker to make the trades ... obviously this isn't the optimal setup!

 

Can you someone recommend a *proper* setup for me? I would like the ability to program some rules, execute the trades, track current\historical positions - all in one place, access to live stock & options data, open\close multiple positions with less click (oh my god it takes 5 clicks sell anything in TD Waterhouse!)

 

I've been reading and getting started is really confusing ... what software do I use, which broker should I use, do I need a data provider, etc?

 

Thx in advance!

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bump ... no one can recommend anything?

 

 

mslk, I have heard of TD Waterhouse but am not familiar with what instruments they carry.

What is it you are trading?

 

What do you use Google Finance for? Fundamental Research? Charts?

I think we need more info.

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just stocks & options - my main grievances is that the portfolio position tracking, historical trade data, charting & screening functionality is terrible. and it takes forever to execute a trade. plus i am a programmer so i would also like to dip my toes into automation. so instead of using TD's poor interface,

 

i'm just using google to manage my portfolios positions (i know its sad)

 

i would just like some help and direction on a good setup (programming interface, trade execution, broker, data, etc)

 

thanks!

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mslk - i keep track of everything from an accounting point of view in excel for a number of reasons.

I can manipulate it how ever i want, in terms of looking at overall risk, and what if scenarios from a portfolio point of view.

I can combine various different accounts, track my equity as I see fit, and it keeps a good record of all my trades.

I dont trust most brokers systems, and this gives me a check for them as well.

It takes a little bit of time like 5 mins in the morning and afternoon to enter trades (using cut and paste) and making sure everything looks right, but it works and gives me piece of mind.

 

How detailed you want to get this is entirely up to you.

 

When it comes to historical data accuracy, and screening - then this is a never ending search for what suits you, and unfortunately is riddled with issues.

As a suggestion - Interactive Brokers has great systems for its accounting, but poor data and charts. Simple screening and is well suited to stocks and options. I hear their API is really good also. Plus they are cheap.

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Thanks for the suggestion about IB, I will try them out.

 

But I find it hard to believe no broker has good accounting? Isn't one of the most important aspects of trading is knowing your positions, win\loss record, etc? Having to manually enter this stuff into XL seems like an unnecessary task in this age of technology. I guess I'm not the only one struggling to find a good (automated) setup?

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