Questions about TradeStation, EasyLanguage, backtesting...

F

FulltimeTrainee

I'm considering to switch from IB to TradeStation, but I want to make sure about the following first.

Is there any other program comparable to EasyLanguage ?

Can EasyLanguage be used without TradeStation, like if I have the intraday data on an Excel Sheet, would I be able to do backtesting on it with EasyLanguage ?

Are EasyLanguage and the historical data free once you become a client of TradeStation ?

My fund is somewhere around 7000$, it might be more by the time I decide to subscript to TradeStation's brokerage service, I think I meet the requirement for a daytrading Future account. The only thing I still hesitate about is the fees. It requires me to do 10 roundtrips a month. That wouldn't be a problem as I'm a daytrader, but as I have lost money quickly last couple months, I decide to move on to developping some consistent strategies, I want to take the time to test my strategies. Also, on IB, CME's data are free, but with TradeStation, it would be like 50$/month. However, so far, Tradestation seems to have the best feature around for backtesting.

Please give me some advices.

Thank you!
Thank you!
 
Quote from FulltimeTrainee:

I'm considering to switch from IB to TradeStation, but I want to make sure about the following first.

Is there any other program comparable to EasyLanguage ?

Can EasyLanguage be used without TradeStation, like if I have the intraday data on an Excel Sheet, would I be able to do backtesting on it with EasyLanguage ?

Are EasyLanguage and the historical data free once you become a client of TradeStation ?

My fund is somewhere around 7000$, it might be more by the time I decide to subscript to TradeStation's brokerage service, I think I meet the requirement for a daytrading Future account. The only thing I still hesitate about is the fees. It requires me to do 10 roundtrips a month. That wouldn't be a problem as I'm a daytrader, but as I have lost money quickly last couple months, I decide to move on to developping some consistent strategies, I want to take the time to test my strategies. Also, on IB, CME's data are free, but with TradeStation, it would be like 50$/month. However, so far, Tradestation seems to have the best feature around for backtesting.

Please give me some advices.

Thank you!
Thank you!
More...

I am not so sure TS backtesting capability is gonna help but their performance report of your trade history is good. You can't beat IB's almost free real-time data and you can't beat TS's almost free historical data. It's a coin toss to me but if you want to save a little more money and don't care about backtest, then IB is definitely cheaper.
 
Quote from FulltimeTrainee:

I'm considering to switch from IB to TradeStation, but I want to make sure about the following first.
Is there any other program comparable to EasyLanguage ?

Amibroker, wealthlab,...

Can EasyLanguage be used without TradeStation, like if I have the intraday data on an Excel Sheet, would I be able to do backtesting on it with EasyLanguage ?
Yes, TradeStation.8.1 sp1 you can feed in most type price data and with TS in offline mode, so you don't need to pay anything

-You can write easylanguage trading strategies
-Backtest strategies
-But no order excution or signal generation in realtime

Are EasyLanguage and the historical data free once you become a client of TradeStation ?
Yes, everything except realtime data

My fund is somewhere around 7000$, it might be more by the time I decide to subscript to TradeStation's brokerage service, I think I meet the requirement for a daytrading Future account. The only thing I still hesitate about is the fees. It requires me to do 10 roundtrips a month. That wouldn't be a problem as I'm a daytrader, but as I have lost money quickly last couple months, I decide to move on to developping some consistent strategies, I want to take the time to test my strategies. Also, on IB, CME's data are free, but with TradeStation, it would be like 50$/month. However, so far, Tradestation seems to have the best feature around for backtesting.

Please give me some advices.

Thank you!
Thank you!
More...
 
Quote from FulltimeTrainee:



Is there any other program comparable to EasyLanguage ?
More...

Multicharts can handle this task at $49 per month or for a mere $399 per lifetime. See some other thread about MC.
 
Quote from FulltimeTrainee:


My fund is somewhere around 7000$, it might be more by the time I decide to subscript to TradeStation's brokerage service, I think I meet the requirement for a daytrading Future account.
More...

If you are trying to figure out what you are doing, make sure you just put the minimum into your account so you can't a lot on a bad day and take break if you lose certain amount for the week/month. Capital is most important because it buys time until you become more consistent.
 
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