Daytrade
Author: remwang
Creation Date: 1/15/2011 11:20 AM
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remwang

#1
Hi, I am a new user of the Wealth lab Pro auto-trading system , need some advice


1. Is Wealth-Lab auto trading function good for daytrading ?

2. If the script works perfectly in backtest , Is that mean it will work in auto-trading with live account ?


thanks
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Cone

#2
1. Sure, but review the User Guide: Orders chapter for some details about the possibility of limit-order scripts getting out-of-synch with a live account. (Although not mentioned there yet, rarely an out-of-synch script could happen for Stop orders as well since I recently discovered that Fidelity's back-end uses bid/ask stop-order triggering, but WLP required a trade at the stop price to trigger.) If the script uses only Market orders, then this point is moot.

2. Not necessarily. Since you said you are a "new user", you could have made peeking or other errors that would not allow it to trade live. We could review the script for you here or privately in Support, and, I'd highly recommend that you use Paper Trading for at least one day to get a feel for the automated processes.
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remwang

#3
Thanks Cone

Which E-mail address I should send my script for private support before I try the live account ?


thank you

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Cone

#4
Again, I recommend Paper Trading by assigning the script to a paper account (Ctrl+O, Set Account... button in toolbar). You can see if the script is doing what you think it should in a real time environment, and you'll get a fairly good simulation of the automated interaction between the tool. (Wealth-Lab simulates order fills, so paper trades are not really transmitted to the broker.)

If you still have trouble or doubts, click Support in the upper right menu of this site and Create a Ticket.