Need Info on TradeStation

J

jsmith

This is directed to the people who are using Tradestation.

1. If I get TradeStation, does it do everything that QCharts does? Real time streaming quotes? Has anyone compared their quotes to see if they lag?

2. Can I do something like this with the Easy language strategy creator? If timeframe daily, 20EMA is less than 50EMA and timeframe 60min Stochastic (10(1),1) crosses below 70, then give short signal. Stop above the high of highest bar of last 5 bars.

Also, give me the Pros and Cons of the software and if there is anything that would do it better?
 
Tradestation will allow you to write nearly anything that you can imagine using easy language. The idea you presented sounds easy enough to program. I personally have used Omega product's for years, Superchart's 2.4 yeah I am ancient <g> .ELA is the primary reason why, anything you want coded can be coded. I have to admit that I do not code my own idea's, but hire the programming out.
As far as the amount of lag you can experince with Tradestation, it's not usually a noticeable amount. There are other post's in here that berate the program, but I haven't experienced untimely quotes. When there has been an issue with a particular server, you simply switch to another. In the next build this switch process will be automatic as partof the redundancies built in, the server will switch you automatically.
Be warned, as far as running the program without glitches you will need mega horsepower. I am currently using 933/512/win2k. Pro runs 13 .exe's in the background as a baseline of operation, this will be in addition to other programs you care to run alongside. As I have said before avoid win ME.
Hope this Helps.
-Hoyler

 
First the bad news...

I have used TS Pro up until about a month ago. The main reason for moving (to NexTrend) was for real time futures info, which TS doesn't offer...yet. They assure me that quotes from the Chicago Merc will be online in June or July but I'm not big on holding my breath waiting...

TS seems to fall behind during the open...not sure why but after ten minutes or so they settle down and keep pace quite well with WOW, e-signal, Nextrend and Tradecast. Those are the only vendors I've tried to date. Of these, e-signal was most timely, most often. E-signal also has some awsome time and sales info that can be used in a way that you'll get info on what the market makers are doing and to whom they're doing it. This feature really impressed me... If you want real time quotes that ARE real time, go w/ e-signal...they seem the best in this regard.

The good news...

TradeStation Pro is IMHO, the best web based system when it comes to technical analysis. If you want to test/try a system, you'll most likely be able to do it w/ TS, which is not the case with the above vendors. Honestly TS is awsome. If you can think up a study you would like to try, TS can do it.

Another plus is that you are not limited to a certain number of windows you can have open at one time (NexTrend has a limit of 12, for example). Also, there's no limnit on the number of symbols you can use at one time...e-signal and others have limits on this.

The charts look great, are easy to read, and are a pleasure to work with. One of the things that bugged me about esignal was that I couldn't get it to auto scroll to the right. New prices would just float off the chart to the right and having to screw around keeping the chart current really bothered me. I posed a question regarding this on this board but no one had an answer...nor did the esignal rep I was working with.

TS Pro has a ten day free trial and I suggest you give it a go. If you can deal w/ no futures quotes and a bit of delay at the open, you'll probably be a happy camper.

The software I'm using at the moment, NexTrend is pretty good but their news feed sucks...really, really late on important stuff. I do better listening to CNBC.

If/when TS gets a futures feed, I might go back to them for the reasons above. OTOH, I still want to test a few others like RealTick, for example...and I want to try e-signal again.

Hey, all of this is my opinion so take it for what you paid. In any event, I hope it helps.

Best regards,
Jim
 
I replied to many threads about TS. There are problems with feed and delays @ the opening. Sometimes also during the day. If you trade the open, TS is not for you if you are day trader and have .25/.5 profit objective TS is not for you due to potential problems with data feed.

The most reliable combination I have found is RealTick or Ensign/Esignal combination. Ensign I think is great overall product for charting and you can code all functionalities/studies as in TS and they are much easier to program that in TS if you know any programming language (Delphi, C, etc). The more I use the more I love this product and support is just great.

One day TSPro will be ready for a prime time :-(
 
Agree with everything Airspeed said. I trade only e-minis and use TradeStation 2000i and eSignal data feed, and consider that to be the optimal combination as of now.
*Easy Language* is a bit of a misnomer ----- it took me
a few months to get fluent in it, but its capabilities are extraordinary. If you can conceive of ANY relationship or function that can be expressed mathematically, you can program it in Easy Language. That ability places TradeStation in a class by itself, because you can design your own functions, indicators and systems which in many cases are demonstrably superior to the standard, pre-programmed ones in other software products.
 
airspeed,

I'm considering Nextrend, is there anything you don't like about them? In your experience have you ever seen their quotes lag the market? Is the platform easy to use, and is the charting adequate? Is their stock scanner any good?

tradeRX
 
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