Hello,

I am wondering if Wealth-Lab supports to trade 1000 symbols at the same time, but utilizing the same strategy.

At Tradestation, I would have to open 1000 charts in the system in order to do so. I am hoping that Wealth-Lab has a different solution.

Please let me know!

Sincerely,

ychang5

Hi,

The Strategy Monitor tool might help with this for a EOD strategy. It lets you run multiple strategies with custom parameters, data, scale, and sizing and manage Alerts from one location. No charts are opened as strategies run in headless mode. Check out the WLP User Guide for more info.

As suggested, Strategy Monitor is a good solution. I like to stay in the loop with Buy trades, so I do it a little differently:

1) Have the strategy place either a Stop or Limit Buy order.
2) Let that strategy and dataset in Strategy Monitor generate Alerts prior to market open.
3) Use the "Monitor in Quotes window" button in the Alerts window of SM to place SM Alerts into the Quotes window before market open.
4) When the Quotes window creates its own Alerts (when that market day's Stop or Limit order is reached by the exchange during the trading day), then place those ticker symbols into a "special WL dataset". In effect, the Quotes window works as your during-the-trading-day watchdog to generate real-time Alerts. Alternatively, you can directly post those Alerts to the Orders windows instead.
5) Step through that special dataset of today's Stop and Limit triggered Alerts (with a single Chart window) to place these orders at will.

For Sell Alerts on SM, I just place those orders directly to the Orders window without employing the Quotes window as a middleman.

Thank you Eugene,

My strategy needs to have real time data, and it is an end of day strategy. It is real time and will trigger when the condition is met. As a result, I do need real time data of all 1000 symbols and to wait for it to trigger. Does strategy monitor do what I need it?

Could you clarify how "real time" aligns with "end of day" with more detail?

Hello Eugene,

I apologize for the typo, I meant that it is not an End of Day strategy. I turn on the algo at 9:30 to search in the 1000 stocks for my setups and I enter when any of these 1000 stocks appeared my setups. Can that happen in Wealth-Lab Pro?

Thank you,

QUOTE:
My strategy needs to have real time data,... It is real time and will trigger when the condition is met.

That's what the Alerts on the Quotes window are designed to do. The Quotes window will generate real-time Alerts as your Stop and Limit orders hit their triggers during the trading day. See Step# 4 in Post 3, and read about the Quotes window in the WL User Guide.

Just clarifying:

Case 1: Using the Quotes tool
If your Strategy uses Daily bars to generate Stop and Limit orders, you can use the Quotes tool to monitor any number of symbols to trigger orders based on those Stop and Limit prices in real time. For case 1, you'd generally execute your strategy on your DataSet (watchlist) in a single Strategy Window and send the Alerts to the Quotes tool for monitoring/triggering.

Case 2: Intraday Strategies
If your Strategy consumes intraday (x-minute bars), then you can use a Strategy Window for each symbol or the Strategy Monitor (SM). For more than, say, 16 symbols, you'd probably use the S. Monitor. However the delays exhibited in the SM processing more than 50 - 100 symbols makes even the S.Monitor impractical depending on the bar interval.

For example, in practice I've watched the SM take up to 30 seconds to process 30 symbols at the end of a bar interval. That's not acceptable for 1-minute bar intervals, but probably just fine for 30-minute bars.

Which case is yours?

Superticker-
It is an intraday strategy on 15 minute charts. I need Wealth Lab to help me scan the 1000 symbols to find the correct setups that I want on the 15 minute chart.

Cone-
Yes! I believe it is case 2. I do need to wealth lab pro to help me scan the 1000 symbols to find the correct setup. That the system is scan the 1000 charts on a 15 minute basis. For that, do I have to open 1000 charts?

Thank you for both of your help!

Unfortunately, the Strategy Monitor becomes the bottleneck when updating intraday data for that many symbols, as Cone suggested.

A potential workaround might be in the form of coding your strategy to run inside a Streaming Strategy window looping by DataSetSymbols... but it's not because the secondary symbol's data is not streamed.

I might suggest a divide-and-conquer tiered approach that combines Case 1 (Tier 1) and Case 2 (Tier 2). You would build the "special dataset" from the five step approach discussed in Post 3 (Tier 1). You could then place those special-dataset stocks into SM and run them at 15 minute intervals looking for setups (Tier 2). But there are problems:

1) Strategy Monitor isn't going to like you constantly adding new stocks to the special dataset throughout the trading day. You may have to delete and re-add the special-dataset SM-strategy case each time you add new stocks to it during the day.

2) Your special dataset will only have a fraction of the 1000 stocks the Quotes window picked out from the Tier 1 selection (Case 1).