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Vince.
It is good to have someone who tried 80 software packages in last few
years. The problem is that software development is moving very fast
these days (with some companies as exceptions who update their software
once a year if at all). Take our own software, which has not been
mentioned by you here (did you try it?) it has undertaken a significant
change in from last year to this year and we will have another
significant change in our Version 3 (it will have integrated automated
trading execution plus tick level charting and more).
As of real time data it goes with RealTick at the moment thru a third
party add on and with a few other data providers (soon IB).
Also it has automated trading execution thru another third party
solution provider with IB already. The same company offers automated
trading execution for NeoTicker. You want to take a look at there home
page here:
http://www.dynastoresoftware.com/dynaorder/index.asp
Because of a request from DynaStore we added a new set of Alert
Management functions to Wealth-Lab Developer Build 37. These functions
let you access all of the information for alerts triggered in your
script.
Before anyone gets me wrong, I am not suggesting that you should buy
WLD2 or any other product; I am just saying automated order execution is
already not an argument anymore for or against any trading software.
I think that in future there will be a few more software that have
automated trading execution integrated. You will be able to pick any
broker and will have to pay less for commission and get better service.
So it will be no more advantage to have a software with ATE.
People will use the software whose back testing capability is nearly
unlimited and where they see the willingness to improve the software all
the time.
As another consequence I think the business model of TS will start to
vanish by end of next year. It is just a logical consequence, just think
about it: What would you do?
To make a long story short:
I would not buy TS stocks. :)
Regards.
Volker Knapp
Wealth-Lab Inc.
http://www.wealth-lab.de
http://www.wealth-lab.com
-----Ursprüngliche Nachricht-----
Von: Vince Heiker [mailto:tachyonv@xxxxxxxxxxxxx]
Gesendet: Sonntag, 17. November 2002 17:27
An: omega-list@xxxxxxxxxx
Betreff: RE: Replacement for 2000i
There are several real time software alternatives to TradeStation 6 or
2000i.
1. If you don't mind paying high trade commissions, having unreliable
and
slow data feeds during peak periods, and arrogant support, then RealTick
has
the best charting and studies by a now-slim margin over two other
packages
mentioned below, and acceptable (if sometimes buggy) order execution
functionality. www.realtick.com
2. If you want a package that is just about equal to RealTick in
charting
and studies, that is about equal to EL with its own language, and that
has
excellent real time scanning capabilities, try TickQuest's NeoTicker.
It
does not have any order execution functionality, and as far as I know
does
not integrate with any broker's account management software. But it is
a
killer charting, studies and scanning tool, in real time. Works with at
least a couple different real time data feeds. www.tickquest.com
3. Investor/RT from Linnsoft is about equal to NeoTicker. Same deal,
no
order execution. www.linnsoft.com
4. ProTrader's gr8trader is probably the best order execution software.
Its charting and studies and scanning are not the best (I don't like
them at
all). Commissions can be low if you trade enough. www.protrader.com
5. NexTrend's Analysis for charting and studies, plus Nextrend's EDAT
order
execution system, along with NexTrend's outstanding data feed (best
reliability and speed of any real time software over the Internet) -
EDAT
will be outstanding once debugged and once some brokers offer it....its
functionality in some ways is better than gr8trader...but it is not
compatible with ZoneAlarmPro firewall, and possibly not with some other
firewalls. Analysis is ok but not the equal of Investor/RT, RealTick or
NeoTicker, for charting and studies. www.nextrend.com
6. If you can accept its trading method and poor charting, Spectre IV
has a
cool Level II and T&S, plus a test mode with which you can simulate live
trading in real time in real market conditions....forward test, in other
words, within it limited studies and charting. www.sl4trader.com
7. Ensign Software has some interesting cycle tools that no other
package
has. But it seems to be an older package. www.ensignsoftware.com
8. NeoVest's First Alert is probably the best real time scanning tool.
But
its price is horribly high especially considering that it does not
include a
data feed in its high monthly lease price. www.neovest.com
9. Advanced Get, especially if you are a member of the Gann or Elliott
religions. www.advancedget.com.
FYI, I've tested over 80 trading software packages over the past two
years.
I like RealTick the best but cannot abide its arrogance, cannot trade
with
its unreliable, undependable,.slow peak period data feeds, and its high
commissions and costs.
If TickQuest or Investor/RT had integrated order execution with good
functionality, and integration with brokerage account management, then
they
would be the best. NexTrend could also become the best, but has a ways
to
go yet.
For now, I use TradeStation because of the low commission costs and
comparatively moderate TradeStation costs, and impatiently accept its
glaring deficiencies while awaiting improvements. Now that Bear Sterns
owns
TSS and TS, tool, I expect Bear Sterns to significantly improve the aged
TS
over the next 24 months.
<sigh> No holy grail automated mechanical system exists nor will ever
exist
and <bigger sigh> no totally perfect trading software + data feed exists
yet.
Vince Heiker
Flower Mound, Texas
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