Getting the edge with trade station

[drasfs]

I recently had the chance to try out the program. However, i dont feel too sure,wheter one can set up a profitable setup based on historical data.

I dont assume you to reveal your strategy, only if you have managed to pull off a profitable setup based on historical data, and sebsequently doing equally well when you are live trading.

There are however some concerns:

1)The market is constantly changing and the conditions that the historical data is based on, does not exist anymore. I.e new actors have emerged and with different needs, and other fundamental factors are now present.

2) Is the tradestation able to implement the same scope of analysis as when a living trader analsyses a chart, and taking other things into consideration as well?

I do however believe that it could facilitate your work,by notifying you, when certain conditions are met.

 

[TrueStory]

Quote from drasfs:

I recently had the chance to try out the program. However, i dont feel too sure,wheter one can set up a profitable setup based on historical data.

I dont assume you to reveal your strategy, only if you have managed to pull off a profitable setup based on historical data, and sebsequently doing equally well when you are live trading.

There are however some concerns:

1)The market is constantly changing and the conditions that the historical data is based on, does not exist anymore. I.e new actors have emerged and with different needs, and other fundamental factors are now present.

2) Is the tradestation able to implement the same scope of analysis as when a living trader analsyses a chart, and taking other things into consideration as well?

I do however believe that it could facilitate your work,by notifying you, when certain conditions are met.

There are obvious problems with automating any strategy, most particularly not being able to tell a computer everything your eye can see. However, it is quite possible, from experience, to write strategies that hold up in real-time. I cannot say whether they will work forever, no one can know that, and frankly I doubt it, but we have several forex systems that have worked in real-time for more than a year now and held their equity curves nicely.

While you are correct that markets change, they also stay very much the same. Buyers meet sellers in a market controlled by supply and demand.

It can be done, but you must avoid all the obvious pitfalls that new system developers make and then test ideas over and over. I would suggest to anyone that simple is almost always better and keeps you from over-fitting to the data. Focus on profitable out-of-sample data and strategies that work on more than one market without changing parameters drastically. Make sure to include trading costs as well, and you can do it.

 

[drasfs]

Ok, i might as well try it then, if it really can be done. And you might be right, that the reason why one still can be successful with technical tading migth be because supply and demand, and human psychology still exists, more or less the same way, as back in 2004 for instance.

However, one more question-should I buy prosuite or just trade station, if im only trading currencies?

 

[TrueStory]

Quote from drasfs:

Ok, i might as well try it then, if it really can be done. And you might be right, that the reason why one still can be successful with technical tading migth be because supply and demand, and human psychology still exists, more or less the same way, as back in 2004 for instance.

However, one more question-should I buy prosuite or just trade station, if im only trading currencies?

That should be a simple enough question to answer since I have no idea what prosuite is. Tradestation has everything you need to adequately and properly backtest forex trading strategies. Best of luck and let me know if I can be of assistance...

 

[AC3]

For your guide Tradestation, to the best of my knowledge, at this point doesn't offer the automation of Cash FX and wont until version 8.3 comes out. From what the message boards are saying that isn't going to roll out until half way through 07" If your going to automate try NinjaTrader or Tradebullet and ship the trades through IB or Gain etc.

 

[TrueStory]

Quote from AC3:

For your guide Tradestation, to the best of my knowledge, at this point doesn't offer the automation of Cash FX and wont until version 8.3 comes out. From what the message boards are saying that isn't going to roll out until half way through 07" If your going to automate try NinjaTrader or Tradebullet and ship the trades through IB or Gain etc.

That is true. If you meant truly automating your strategies and having them filled in a Tradestation brokerage account, that will not be available until 8.2 is released. However, the strategies can be written in TS Easy Language and shipped elsewhere, as AC3 pointed out...