Thread: Spot On - AutoTrade Software

Spot On - AutoTrade Software
Hi folks,

I've had a request today to provide software for AutoTrading the Spot On system.

I'm considering writting a Java App to interface to www.interactivebrokers.com to do just this.

The question is if I do this how many will be interested?

Or more to the point what would you be prepared to pay for this software application?

JonnyT
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Trading Mentor
JonnyT is offline

JT
It may be that, like myself, some have not been following the material on spot on and so perhaps this would be a good opportunity to say a little about it and what the software would and could be asked to do?
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Rognvald

JT,

I would be interested. Give us an idea of price when you're ready.
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Simon

Spot On is a breakout system used to trade Currency Futures, specifically the EUR/USD (it can do others if required) contract on Globlex.

The system rules are:

1) Trade the first breakout of the 07:00 to 10:00 bar UK time
2) Enter a stop of 35 pips
3) Close out the trade at 21:00 UK time

The software will allow you to autotrade the above system but will allow the parameters to be customised.

For example:

You might want to trade the 07:00 to 08:00 bar.
You might not want to enter a trade until the breakout has moved a number of pips
You might want to alter the time a running trade is closed
You might want a defined profit target
You might want to trade a different instrument

JonnyT
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Trading Mentor

JonnyT,

First of all, many thanks for sharing your knowledge, much appreciated.

I would be interested to hear your proposition, but not sure how much I would be willing to pay. I'm working on something similar myself, but am a fair way behind you!

I know you've provided various information on previous posts, but could you give a short summary of what costs are involved, minimum recommended account to trade with, commision costs, likely profits etc. I've got an IB account, but not yet trading, just using it to collect data and develop a system so far.

Do you intend to code the parameters in, or would they be user-definable?

How about a fee based on commission?

Oh, looks like you've just read my mind!