Take a look at TradersStudio. www.TradersStudio.com They have just released the beta for Version 2. I've used it for about a week and it looks great. It has the power of TradeStation but also gives you the ability of testing and optimizing across a basket of securities or futures like wealth-lab. The language is similar to visual basic and it has a migration tool that makes translating easylanguage trivial. You can use multiple data streams including fundamental data from any third-party source. No need to sign up with Fidelity. I've used wealth-lab developer for years and developed many WL scripts but after using TradersStudio for just a few days I've decided to switch to it for all my system development work.
Wealth Lab Pro: Good of bad?
- Thread starter Dominic
- Start date
Batman, I was saying I prefer TradersStudio over WL. WL is a good platform but in order to use fundamental data you have to become a Fidelity client and use WL pro. Also I find it very time consuming to translate and debug TradeStation code into WL code. Translating TradeStation code to TradersStudio is very easy. The TradersStudio language is a cross between easylanguage and visual basic. It has an easylanguage migration tool that does most of the job for you but even without it its not difficult. The portfolio and money management tools in TradersStudio simply aren't present in TradeStation.
I hope this helps clarify things for you.
I hope this helps clarify things for you.
Could you expand on some of the benefits of developing your own platform, i.e., given what TradeStation offers, why would someone spend all that development time assuming one didn't need high-frequency support? Thank you.
An obvious one would be speed. For example...
Monte Carlo.
Analyzing on a portfolio level.
Optimization.
Scanner.
I need a lot of speed. I used WL for about a year. It is a great tool for beginer and I learned a lot using it, however it is painfully slow (Some simulations can take hours / Optimizations can take days...).
Using C++, you can reduce the simulations to seconds and optimizations to minutes. Writing adaptive systems with interdependant securities takes few hours to simulate using C++. The computation is distributed on 3 different machines, 2 AMDs 4800, and 1 AMD FX 57.
WL wouldn't allow me to simulate on 3 machines simultaneously.
I can't even imagine running them in WL. It will probably take months if not years
And the main important thing, using an off the shelf software your imagination is limited by it. Using C++ or C, there is no limit, you can litterally do whatever you want... Think outside the box... Way outside the box...
But again, if you're just starting, WL/Metastock/Tradestation are great learning tools...
Cheers,
I would think the main argument for custom programming something would be to analyse bid/ask data as well as a FIX connection and constantly changing orders (although many exchanges now add cancellation charges if you're too hyper).
I just don't see the argument when it comes to "normal" system development. No offense intended there
I just don't see the argument when it comes to "normal" system development. No offense intended there
Quote from StocksSniper:
I need a lot of speed. I used WL for about a year. It is a great tool for beginer and I learned a lot using it, however it is painfully slow (Some simulations can take hours / Optimizations can take days...).
Using C++, you can reduce the simulations to seconds and optimizations to minutes. Writing adaptive systems with interdependant securities takes few hours to simulate using C++. The computation is distributed on 3 different machines, 2 AMDs 4800, and 1 AMD FX 57.
WL wouldn't allow me to simulate on 3 machines simultaneously.
I can't even imagine running them in WL. It will probably take months if not years
And the main important thing, using an off the shelf software your imagination is limited by it. Using C++ or C, there is no limit, you can litterally do whatever you want... Think outside the box... Way outside the box...
But again, if you're just starting, WL/Metastock/Tradestation are great learning tools...
Cheers,
StocksSniper, how long have you been programmin in c++/c and r u self-thought?
thanks