Becoming a successful trader, primarily depends on the acquired experience and skills in the financial market. After all, this sphere requires a special and long-term approach to mastering the methods of analysis and forecasting the value of financial assets. Thus, first of all,marketing strategies are being developed and constantlygenerated, as well as the understanding of the market, rules of dealing with assets and risks. But in the end, everyfix api trader comes to automate his process by creating algorithmic strategy or other software, which aims to improve financial result from trade.
And of course, a huge role in it plays the factor of who and for how much can turn the strategy into a robot, create an information or signal panel, create a script to regulate open positions, and so on.
I want to note that, first of all,the cost of the software depends on its complexity and specification, which will be incorporated into it, but I think this is understandable. That is why, every trader buys or orders software, depending on its complexity and economic outputs. That is, if with the implementation of software, the profitability from trading operations will grow, for example, at fix apiforex, then you should immediately purchase the program data.
And yet, how much should a trader spend on buying software? I will highlight a few key points that will determine the cost of the software and on the basis of which it will be possible to determine more precisely the price.
1.Type of software. As I said, the complexity of the program will increase its cost. So for simple scripts, the average cost will be about 30-40 dollars, for information panels 50-100 (depending on the completeness of the information), for trading robots and signal panels the price increases several times and can become within 500-2000 $. Again, it all depends on the complexity of the trading algorithm. If your system is based on the intersection of medium-slippery, then the price is clearly not $ 2000, but if you have an integrated trading strategy that is based on author indicators and fixapi trading techniques, then prepare to write a large check.
* I emphasize, that this is the cost of software development, which only later, you, as the author, you can resell. As a rule, the cost of selling ready-made software, and not under the order, is a little cheaper.
2. Integration with the trading terminal. If the program is universal and can be used on various trading platforms, it raises the cost of the software, because otherwise there are several types that will differ by the program code. For example, a trading robot that trades through the fix api MT4 platform will not work on MT5 or any other terminal. If the program is a separate software and does not depend on the terminal, it can raise its value by half, and the cost – somewhere in one and a half.
3. The possibility of trading through the FiX protocol. There is very little number of software on the market that trades through this protocol. Typically, these trading robots are designed for arbitrage or scalping strategy and the cost of which ranges from $ 1000 to $ 1500. But there are more expensive products on the market, after all, there are very few such programs.
To determine if you can afford software or not, I recommend:
- Determine the economic effect of the perches of the program (how much you can earn on it in your trade);
- Will it fit your trading style?
- Will it fit into your trading strategy.
I still want to point out that you need to determine the value from your investment opportunities, because this is an investment in yourself and in your trading. Banks can spend millions on automatization of the trading process, like brokerage companies, but for simple traders, this amount is not feasible. And I recommend that you spend no more than 30% of the net profit from fixapi trading. After all, the presence of profit, will indicate a working algorithm that can be automated or software can be createdunder it.