Automated Trading
- Thread starter AndrewL
- Start date
Tradestation is MUCH better. It is much more useful for automated trading, and with a brokerage account will cost you $0-99.95 per month with no $3k upfront. Use the $3k to help fund a trading account, not on software. Please return Advanced GET and do more research.
Also, don't worry. I bought Advanced GET when I was new in this game, too.
I get the feeling that though Tradestation is better Advanced GET is much simpler to use. Is this true? Does tradestation have all the proprietary indicators like esignal does or do you have to program them in yourself? Also I've lost some money trading overly complicated strategies. I've had success with the simplest strategy just trading SP500 based on esignal's blue and red trend bars.
Make something yourself.
Esignal doesn't have very good backtesting so I went and tallied up the last couple months trading XTL breakouts on the SP500 on a 5 minute chart. You would've made about 270 points in Jan and 105 in Feb with no losses greater than about 5 points even without a stoploss? The trend indicator acts as a natural stop loss. On a 5 minute chart is only generates about 2-4 trades daily usually which is great cause I can take a nap after getting up at 6:30 a.m. =)
AndrewL
Retail trading software, in todayâs environment, has few set standards that grade the usage of trading software. Many traders who use products like GET can make a strong argument that they are using a professional tool because the trade set ups are well defined and often very profitable.
There is not written guideline in any publication that sets forth âinvestor gradeâ versus âprofessional gradeâ. But traders on this forum have spent in the thousands of hours defining the âfeaturesâ a piece of software should have in order for it to be a âprofessionalâ trading platform. And that battle is not over.
Advanced Get is a good product but it does not do enough âfeaturesâ to be used by most professional traders today. Professional traders need software that is on par with institutional traders in order to be profitable.
In order to compete with institutional traderâs professionals are turning to platforms that have a complete array of programming tools, automation, brokerage APIâs and exchange routing software. A large number of the traders on these forums build automated end-to-end trading platforms that are executing the traders plan (buys and sells) in programmed automated format. Many of these programs do 100s of trades intraday 24 hours a day. This is the opposite end of the spectrum from Get where the trader views charts or runs a scanner for Type I Get set ups and enters in a manual brokerage order. These two are worlds apart.
Using Get has nothing to do with superior. A Get professional who trades positions last several weeks or intermediate term trades may be perfectly happy. I did it for a number of years with good results. But todayâs trading professionals look for tools that allow them to turn money over like inventory to generate more profits. Itâs a different set of requirements to trade as a professional.
We are seeing the dawn of professional platforms. A battle is raging right now to determine who will have the âbestâ professional trading platform to make money on. Is it the old Tradestation now a brokerage? Or the Multcharts? Is it the Ninjatraderâs and programming in C#? Or the TradersStudioâ¦â¦There is a lot going on.
The bottom line is does the software fill all of your needs in your trading plan. Can you meet all of your trading goals and objectives? If it does than that is all that matters.
RabbitOne