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Vince,
Excellent summary!
May I have permission to post it on my trader web forums?
http://www.fibmarkets.com/cgi-local/yabb/YaBB.pl
It would be great to get a similar summary of on-line brokerages..
Thanks,
-Neal.
At 10:24 AM 11/17/2002 -0600, Vince Heiker wrote:
>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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