Not many people are using Wealth-Lab?

Spydertrader · Feb 11, 2009

Quote from tmantrader:

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

I switched from Wealth-Lab Developer 3.0 (I still have an old cracked version) to Trade Navigator because I wanted the ability to trade through my choice of brokers. In addition, Trade Navigator doesn't have the data feed issues I experienced with Qcharts (my WLD data source). Also, Trade Navigator allows the trader to use a variety of brokers, and not simply Fidelity.

With resepct to functionality, Trade Navigator allows me to do almost everything I could to with Wealth-Lab Developer. However, those elements of code which did not transfer, the folks at Genesisft plan to add to their future software upgrades. Some of the functionality for TN represents a superior improvement over WLD. For example, TN permits both technical and fundamental coding (something Wealth-Lab Developer (Pro) had not fully implemented when I switched). Backtesting, Order generation, Trade Analysis - all work very well within the TN Software.

For all these reasons, TN simply made better sense for my trading. Of course, YMMV.

HTH.

- Spydertrader

tmantrader · Feb 11, 2009

Quote from Spydertrader:

With resepct to functionality, Trade Navigator allows me to do almost everything I could to with Wealth-Lab Developer. However, those elements of code which did not transfer, the folks at Genesisft plan to add to their future software upgrades.

- Spydertrader

That's great - thanks for your response - very helpful. Since you have switched successfully, I have one more specific question...for the bulk of my trading, I currently am a technical trader who uses end-of-day data to generate next day potential orders with a maximum buy (minimum sell) price....and then I use the WLP "Quote Manager" to monitor the prices using the Fidelity feed and have the alerts trigger during the day -- so a very simple scan using a target price. I can be scanning up to 1000 opportunities on a particular day, sometimes more.

So my question is: is this WLP Quote Manager type scanning possible with Trade Navigator (or any other package) for that matter? I know it is simple in concept but I can't seem to identify this feature straightforwardly in other packages.

Thanks again.

tmantrader

Spydertrader · Feb 12, 2009

Quote from tmantrader:

So my question is: is this WLP Quote Manager type scanning possible with Trade Navigator (or any other package) for that matter?

Yes. One can create user generated criteria to cull a basket of stocks based on End of Day criteria. Wat is more, the process can be fully automated - meaning when the software automaticaly updates its data each evening, your 'filter' automatically creates a list of stocks which match your criteria, and then, places those stocks into a Quoteboard sorted by user defined criteria as well. Then, its simply a matter of setting the 'alert' you wish to use and / or having that alert create an automated buy / sell signal.

IF at any point you have difficulty creating what you need, Genesis has a web forum, or for faster answers, Tech Support can create the needed code for you.

You can get a free 30 day trial to see if it meets your needs, but you will want to have either the Gold or Platinum package (based on what you have described). The 'Silver' deal won't cut it for your needs.

HTH.

- Spydertrader