Tradestation, Wealthlab and other such software

T

thedal

I am a management consultant helping a client chose the right trading platform. I am looking for some information on products such as Tradestation, Wealthlab, etc. I have seen the demos of these two products.

- What are the main value points for an institutional buyer (bank, broker, trading firm), buying a whole software package like Wealthlab or Tradestation for the use of their end-users.

- Which other (maybe less known) trading software /firms were sold in a similar way like Tradestation or Wealthlab? Are there any other competing products that I should consider?

- What special edge would such a software have for institutional clients?

-If any of you have used any of these packages, I would like to exchange notes with you. If it is fine with you, please email me directly at thedal (dot) thedal (at) gmail (dot) com

Thanks in advance for your responses.

Regards
Raj
 
Raj,

I can suggest you to consider Tradecision from Alyuda Research. Tradecision is a complete analysis package with a number of interesting features, including charting, technical analysis and trading systems design.

More info at www.tradecision.com
 
Quote from thedal:

I am a management consultant helping a client chose the right trading platform. I am looking for some information on products such as Tradestation, Wealthlab, etc. I have seen the demos of these two products.

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Are you looking for a trading platform, an analysis platform, or a combination package?

What does your client want to do - directly execute orders placed manually from the platform, place orders through a broker, allow the platform to automatically trade?

Does your client care about being tied to a specific broker?

How many people need to use the platform? Will they collaborate?

A little more data might get you some useful answers.

Jack
 
Quote from thedal:

I am a management consultant helping a client chose the right trading platform. I am looking for some information on products such as Tradestation, Wealthlab, etc....
Raj
More...
You can't be serious!
A management consultant advising clents on picking trading platforms coming to ET's boards asking newbie style questions about it!
:)
 
If your "client" is a US based investor they can't use WealthLab unless they are a Fidelity customer.

Ultimately, both platforms are limited as to their ability to perform analyses (mostly technical indicators, sometimes slightly more if you are willing to work at it). Good historical data is a problem with both.

If your "client" is serious about financial markets analysis they should hire a competent programmer, invest in good market data, and do the hard work themselves (assuming they are competent market participants).

I'd say get your next check from your "client", cash it quick, and move on, dude.
 
It seems like similar questions pop up often enough we may have to put together a FAQ somewhere :)

Your client should try out the software themselves. I am very serious. No two platforms work the same way thus it is all about using the one that your client is most comfortable with that can eventually do what your client wants.

In your case maybe we have to add the part that the software must leave enough room for you to do customization billing :)
 
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