Sync Trader
Sync Trader: Revolutionizing Strategy Automation for TradeStation Users
As traders strive to optimize their strategies and maximize their returns, the automation of trading has become increasingly popular. However, many traders using TradeStation's strategy automation engine have experienced limitations and challenges that hinder their efficiency and effectiveness. In response to these shortcomings, Sync Trader was born through the cooperation of a registered CTA and Triquant Analytics' programming.
Sync Trader consists of three key components that work seamlessly together to provide traders with enhanced capabilities and a more efficient automated trading experience. It tracks strategy market positions from charts and transmits real-time signals to rows in RadarScreen then synchronizes your actual market position with the chart's via OOEL OrderTickets. Each row in RadarScreen has a 'sync name' input, and so does the helper strategy. This is the link between the two keeping communication separated between all instruments.
1. Helper Strategy
Function: The Helper Strategy component is designed to enable traders to trade multiple strategies on the same symbol simultaneously. This provides traders with the flexibility to implement diverse trading techniques and take advantage of various market conditions.
How it works: By leveraging advanced algorithms and intelligent trade execution logic, the Helper Strategy component identifies and executes trades based on the specified strategies. It effectively manages multiple strategies on a single symbol, ensuring optimal performance and minimizing risk.
2. OOEL OrderTicket Trading
Function: The OOEL (One Order Entry Level) OrderTicket Trading component enhances the trading experience by offering PEG (Primary Exchange Gateway) Order Algorithm ability. This feature allows traders to automatically adjust their order entry levels to ensure optimal execution and minimal slippage.
How it works: With the OOEL OrderTicket Trading component, traders can define specific entry levels based on market conditions and desired execution strategies. The component then continuously monitors market data and adjusts the order entry levels in real-time, ensuring optimal execution and reduced time spent manually managing orders.
3. Sync Master App
Function: The Sync Master App serves as a comprehensive control center for traders using Sync Trader. It provides a user-friendly interface to set settings, manage strategies, and monitor trades in real-time.
How it works: Traders can use the Sync Master App to easily configure and fine-tune their trading parameters, such as risk management settings, strategy selection, and trade execution preferences. Additionally, the Sync Master App provides a consolidated view of all active trades and their performance, allowing traders to monitor their strategies and make timely adjustments when needed.
III. Benefits of Sync Trader
Sync Trader offers several unique features and benefits that address the limitations of TradeStation's strategy automation engine.
A. Ability to trade multiple strategies on the same symbol
TradeStation's automation engine often restricts traders to executing a single strategy on a symbol at any given time. Sync Trader's Helper Strategy component eliminates this limitation, empowering traders to implement multiple strategies concurrently. This opens up new opportunities for traders to diversify their trading approach and adapt to changing market conditions more effectively.
B. PEG Order Algorithm ability
The OOEL OrderTicket Trading component of Sync Trader introduces PEG Order Algorithm ability, enabling traders to optimize their execution levels and reduce slippage. By automatically adjusting order levels based on market conditions, traders can ensure their orders are executed at the most favorable prices, minimizing the impact of market volatility and improving overall trading outcomes.
C. Ease of use with Sync Master App
TradeStation's automation engine can be complex and challenging to navigate, especially for traders with limited technical expertise. Sync Trader simplifies the process with its user-friendly Sync Master App. This intuitive interface allows traders to easily configure settings, manage strategies, and monitor trades all in one place. The Sync Master App streamlines the trading workflow, enabling traders to focus on strategy development and analysis, rather than getting bogged down by manual processes.
Features:
- Supports scaling in and out, and reversals.
- Optional Market Orders or PEG order algo functionality (chase the bid/ask)
- Trade many strategies on the same symbol
- Options trading (coming soon)