Not many people are using Wealth-Lab?

pneuma · Feb 8, 2009

Quote from mizhael:

But I like Wealth-Lab! Is there a way out without splitting $25,000 from my IB account?

Or unless somebody can convince me that Fidelity is somehow better than IB in some areas?

P2P - file sharing software used mainly to distribute pirate movies, music and computer games - utorrent, vuze etc.

Fidelity provides Wealth Lab Pro, have you thought of paying for Wealth Lab Developer (the international version)?

pneuma

Bob111 · Feb 8, 2009

Quote from mizhael:

I googled, of course you can download the software, and it's even better, it's open to International users, and I can ask my foreign friends to help.

But where does historical data and real-time data come from, even after I have the software?

there is plenty of options..as far as i remember-WL use to have his own download manager,which can be use to download historical data from yahoo.
WL works fine with QP2
http://quotes-plus.com/joomla/index.php

WL can read data,stored in text files, in common data formats. like date,time,open,high,low,close

mizhael · Feb 8, 2009

Quote from Bob111:

there is plenty of options..as far as i remember-WL use to have his own download manager,which can be use to download historical data from yahoo.
WL works fine with QP2
http://quotes-plus.com/joomla/index.php

WL can read data,stored in text files, in common data formats. like date,time,open,high,low,close

I can get the WL Developer version (for international users). But if I have to import data into it myself, then it defeats the purpose of using WL. TS allows me to directly use both their historical data and real time data without any importing, and third party data-vendor stuff, hassle free. At least that's what I read from their webpage.

If the above facts are true, then maybe I will go with TS. Any thoughts?

Spydertrader · Feb 8, 2009

Quote from mizhael:

I can get the WL Developer version (for international users). But if I have to import data into it myself, then it defeats the purpose of using WL.

Wealth-Lab Developer (any version) operates as a stand alone piece of software - not shackled to one particular data source. Wealth-Lab Pro (tied to Fidelity) does not permit the user to use different data sources. Whichever software (Developer or Pro) one chooses, the trader still has to 'import' the data into Wealth-Lab by clicking the 'Update Data Source' button.

The Wealth-Lab.com web site has a members forum. Within one of the sub-forums, you should be able to locate step by step instructions for using Wealth-Lab Developer and a free data source.

In addition, with the addition of some creative searching techniques, one should be able to locate a free version of Wealth-Lab Developer along the internet's 'back alleys'.

Edit: You might want to check out these guys as well. I switched to their software from Wealth-Lab Developer.

- Spydertrader

Bob111 · Feb 8, 2009

Quote from mizhael:

I can get the WL Developer version (for international users). But if I have to import data into it myself, then it defeats the purpose of using WL. TS allows me to directly use both their historical data and real time data without any importing, and third party data-vendor stuff, hassle free. At least that's what I read from their webpage.

If the above facts are true, then maybe I will go with TS. Any thoughts?

as far as i remember you cannot use TS, if you want to test something on basket of stocks for example. you can't run something like MA crossover on all NYSE stocks from 2000 till 2009

mizhael · Feb 8, 2009

Quote from Bob111:

as far as i remember you cannot use TS, if you want to test something on basket of stocks for example. you can't run something like MA crossover on all NYSE stocks from 2000 till 2009

Yep, that limitation is well-known. So I have to run it on single stock one by one.

So for a pairs trade test, I have to run twice for the two stocks separately.

Am I right?

Bob111 · Feb 8, 2009

Quote from mizhael:

Yep, that limitation is well-known. So I have to run it on single stock one by one.

So for a pairs trade test, I have to run twice for the two stocks separately.

Am I right?

wrong...
can you just google your questions,before you ask them here?
i just put "tradestation pairs trading"
first link-
http://daytradepairs.com/default.aspx

droskill · Feb 8, 2009

Quote from mizhael:

I haven't seen any discussions about this software. Strange. Arguably it is the best strategy exploration and back-testing software?

Probably because Fidelity has effectively shut it off the American market by making it unavailable without a Fidelity account.

kxvid · Feb 10, 2009

I like wealth lab, I have fond memories of that quirky piece of software. It didn't run very well but it certainly got the job done backtesting. The new version is much smoother, but uses different code which I couldn't be bothered to learn.

tmantrader · Feb 11, 2009

Quote from Spydertrader:

Edit: You might want to check out these guys as well. I switched to their software from Wealth-Lab Developer.

- Spydertrader [/B]

Spydertrader, can I ask why you switched to Genesis? Can it do everything Wealth-Lab does in terms of backtesting, order generation, etc?

I am a big Wealth-Lab fan and a current Fidelity active trader -- as a matter of fact, one of the main reasons I am still with Fidelity is because I have so much invested in my Wealth-Lab scripts.

Thanks.

tmantrader