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Show HN: Trade stocks from the command line with no commission

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Re: Show HN: Trade stocks from the command line with no commission

#102

Post by zingshue »

Slartie wrote: post #86
markvdb wrote: post #76

Earlier quoted context omitted.

You probably won't ever see an EU broker offer free trades. The EU market is more regulated to avoid anything that smells of front running. There was a somewhat revealing interview by the people behind Flatex, a big discount broker from Germany [0]. Dutch source, do use a translator https://www.tijd.be/markten-live/nieuws/algemeen/nieuwe-eige... . "Is it easier for a pan European company to keep big US competition li…

And then fintech startups like Trade Republic or Just Trade came along and...offered basically free trades (the 1€ at TR can be considered almost non-existent when comparing to the 5-10€ even at discount brokers like Flatex). They found a third way of financing themselves: just support one marketplace which kicks back some money to them on each trade, which they in turn earn from the spread between buy and sell price…

flatex also has their partners https://www.flatex.de/en/trade/premium-trading/

Re: Show HN: Trade stocks from the command line with no commission

#103

Post by Amorymeltzer »

srazzaque wrote: post #45

(Disclaimer that I'm working on an open source FIX engine in Lisp.) This is a really cool project! But alas I couldn't use it as I'm not in the US, and I don't trade with Alpaca. And I feel like this plays into a negative trend I'm seeing. The retail brokerage market right now is treading on similar 'mistakes' in institutional markets 15ish years ago. Proprietary APIs were prolific, and therefore increased switching…

For the US and Robinhood folks: there's a fairly effective project that allows you to do something similar: https://github.com/bcwik9/robinhood-on-rails

I used it a bit for fun, seemed legit and worked fine.

Re: Show HN: Trade stocks from the command line with no commission

#104

Post by peschu »

nurettin wrote: post #60
srazzaque wrote: post #45

(Disclaimer that I'm working on an open source FIX engine in Lisp.) This is a really cool project! But alas I couldn't use it as I'm not in the US, and I don't trade with Alpaca. And I feel like this plays into a negative trend I'm seeing. The retail brokerage market right now is treading on similar 'mistakes' in institutional markets 15ish years ago. Proprietary APIs were prolific, and therefore increased switching…

FIX is just a protocol template. Vendors will make non-standard extensions to it. For example: OCO you send to CQG won't work with StoneX.

Is there a open source framework/application in go or rust based on FIX protocol? In forex quite a lot broker offer FIX apis(because MT4 is using FIX).

The use case would be to have only one application to watch/place orders simultanously on 2-3(...multiple) broker accounts. To spread risk of losing funds in case a broker goes bankrupt (or whatever reason).

Re: Show HN: Trade stocks from the command line with no commission

#105

Post by speedgoose »

hendzen wrote: post #25
optymizer wrote: post #24

Beginner question on a related topic for those of you more knowledgeable than me: Is there a way to get access to the order books on Nasdaq or other exchanges? I'm working on a script that can run stock trading algorithms (and hopefully see some profit). My first trading experience was with crypto on GDAX (now Coinbase Pro). The order book on GDAX is basically available via their API. I've been looking at various sto…

You have to buy the feed, the market data isn’t free. Depending on your usage the fees can get fairly steep [0]. And that’s just the market data, you need to pay for colocation, cross connects, and order entry sessions. Of course Nasdaq is only one US equity market - there are 14+ with more coming online in recent years. [0] - http://www.nasdaqtrader.com/Trader.aspx?id=DPUSdata

I need to create and operate a market place.

Re: Show HN: Trade stocks from the command line with no commission

#106

Post by meesterdude »

voiper1 wrote: post #88
bwood wrote: post #34

Alpaca is great! As far as brokerage APIs go, theirs is top notch and a breeze to code for. The founders are also really responsive and helpful. I know this because I wrote an app that connects to Alpaca accounts (as well as other brokerages) to help people build their own custom index funds [0]. It only took a few weeks to build our Alpaca integration, whereas other brokerages often take months/years just to get acc…

For my own managed funds/indexes, I use https://m1finance.com , also with no fees. You specify pies of funds with weights. They automatically allocate funds and dividends to the underweight entries, and have 1 click for rebalancing. It's not made for single-real time trading, there's one trading window each day. Sure beats the spreadsheet and whole-share issues when I did it for free with Robinhood.

I love M1! But I have come to hate their "tech". Obscure URL's (what was that stock you looked at two days ago? good luck finding it in your history!), broken watchlist, can't explore adjustments to a pie (such as two windows to submit/revert a pie change), have to contact support to pause trading, backtesting breaks if stocks are listed have to use dark)

I feel like their UX priorities are screwed up big time. But as a platform, they're my favorite as far as concept/functionality.

Re: Show HN: Trade stocks from the command line with no commission

#107

Post by tom_mellior »

supernova87a wrote: post #83

You should know in general, though, that no one trades "for free" despite what brokerages say. Your order gets routed, delayed, placed differently, and while you may not immediately see it, your trades are getting a different result than if you explicitly paid a brokerage who charges a commission on it. Learn about "payment for order flow".

I don't know why others downvoted you, I didn't. But as general feedback: "learn about X" without linking to some resource about X is really lazy soapboxing.

Re: Show HN: Trade stocks from the command line with no commission

#108

Post by getlawgdon »

zelly wrote: post #56
srazzaque wrote: post #45

(Disclaimer that I'm working on an open source FIX engine in Lisp.) This is a really cool project! But alas I couldn't use it as I'm not in the US, and I don't trade with Alpaca. And I feel like this plays into a negative trend I'm seeing. The retail brokerage market right now is treading on similar 'mistakes' in institutional markets 15ish years ago. Proprietary APIs were prolific, and therefore increased switching…

The proprietary API is guaranteed to be slower. The brokers must send order flow as FIX to the exchange. This adds latency of however long it takes the broker's software to translate to FIX. I don't think there are any successful quant strategies that don't rely on speed, so basically anything with a proprietary API is solely for amateurs.

Actually the majority of quant trading isn't dependent on speed.
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