Alternatives to Wealthlab and Tradestation

Know what your needs are first.

If all you need is purely end-of-day trading systems, then there is no need of high-end trading / backtesting platform. Most software capable of backtesting will meet your need, give or take some twisting of algorithm designs to workaround their weaknesses.

On the other hand, if you need something to help you design/backtest/deploy your trading systems in real-time, then you need to commit sometime to find the platform that fits you.

No two trading platforms are designed the same, thus workflow of one platform could fit your line of thinking better than another one.
 
I use Neoticker and WealthLab. Have tried TradeStation and AmiBroker. I recommend giving Neoticker a try. Works with IB and others, develop systems with scripting languages or IDE like Borland Delphi.
 
Quote from anazarov1973:

See MultiCharts with ELA-compatible language: http://www.traderssoft.com/chart/multy/
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At present I am evaluating this as a replacement for my TS2000i. And TS better look out because these guys know what they are doing. New version is coming out in a month or so and I will then switch.

Got some other products (MetaServer RT, Qloader, Uniserver) from these guys and they have proven to be able to build stable products and they are listening to their customers. Service (both pre and post sales) is outstanding.

Have only the highest regards for Andrew and his team.

Sherlock.
 
This project is really expanding rapidly and its ultimate goal being a full-featured trading platform. The best way to be in touch with the latest events and make sure you don't miss the release of the
full-featured platform is buying MultiCharts right now for only $199 and save your money in the nearest future, getting your copy of the fully functional platform for free. Please note that the price keeps growing with every new release.
 
What is the licence/deployment model?

Is the software tied to some identifier unique to the PC on which it was installed (like the idiotic Jurik installation which gets nuked when you update your Bios - and you have to beg for a new password).

Or can it be installed on backup PCs as well. Perhaps to only run with a USB hardware key (Rainbow Sentinel?).

Thanks.
 
Quote from bulat:

Are there any real alternatives for system developers to WealthLab and TradeStation? Both of these are tied to brokers, and Tradestation has an annoying monthly fee to boot.

I've been using Amibroker, but writing systems of any complexity in it is no picnic. I like what I saw in Wealthlab, but even that was somewhat limited, plus there is the whole Fidelity account crap.

Are there any good standalone alternatives out there?

bulat
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I would study the trading periodicals like Stocks & Commodities, Active Trader, and Futures, and look at their code examples and decide for yourself which is best for you.

But you have to decide if it's wise to invest in software that has been sold to only 100 people, vs Tradestation, WealthLab and dealing with Fidelity. (The fact that Fidelity chose Wealthlab over dozens of others says something about Wealthlab).

My advice is to write your own software. However, I have found that people who are fishing for alternatives are never willing to write their own software and are, quite frankly, the most compatible potential customers for Tradestation and Wealthlab, since these programs are robust and easy to use.
 
Quote from Equalizer:

What is the licence/deployment model?

Is the software tied to some identifier unique to the PC on which it was installed (like the idiotic Jurik installation which gets nuked when you update your Bios - and you have to beg for a new password).

Or can it be installed on backup PCs as well. Perhaps to only run with a USB hardware key (Rainbow Sentinel?).

Thanks.
More...

I have had on a few occasions the need for a new key. (hardware failure) Andrew has ALWAYS been very prompt in providing a new one. Even on a sunday did I manage to get a repsonse from him, he seems to be working all the time.

Threw out Jurik' stuff for the exact reason. It may be good but the hassle of the key was just too much. Found an acceptable alternative.

Sherlock
 
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