Would you pay $27,000 for software?

[BSAM]

Quote from ecritt:

My software is custom built at a cost much higher that 27k. It's worth every penny. You paid $60. It's probably worth every penny. This thread was started so that he could get feedback regarding the indicated cost and the indicated features. The software you use, which aggregates a bunch of freely available charts and quotes and bundles them up into a mess filled with banner adds has NOTHING to do with a sophisticated time series anlaysis package that has enough professional functionality to fill a set of encyclopedias. I'm invoking my ET stop loss now; will not respond further.

Well, well, well.....you get a box of animal crackers!! Please post your address so I can send them to you.

I'm probably not nearly as intelligent as you so I wouldn't know what to do with a "sophisticated time series analysis package" with all that "professional functionality". I'm so impressed.

However, ya don't need it to trade and make money. I wouldn't pay 27,000 dollars for trading software even if they threw in Pamela Anderson for a week. (A month, I might hesitate, but only slightly.)

Uh, I take it you don't like QT?

 

[Holmes]

Quote from Batman28:

there is a software I've just found.. and it does exactly what I had in mind.. it's for trading of course.. but guess what, the price is $27k. can you believe this! is this the most expensive software in the world?

is it worth it, if it does exactly what you need it to do.. the other option is to basically programm and build it yourself from scratch..

No.

It is not that it may not be worth it, I have used software that was 250K license fee / year.

There is a far simpler reason: It aint worth anything using what anyone else can use. Same principle as that it ain't worth knowing what someone else's indicators are.

In other words: something that is "available to the public" is not going to give you an edge (for very long).

This is besides the point that you do not need complicated software to be succesfull. Once when you know what you need to look for then you can do with most software that allows you to make your own indicators.

Holmes

 

[Batman28]

Quote from Murray Ruggiero:

You should also take a look at TradersStudio . This is a link to the product overview.

http://www.tradersstudio.com/Overview/tabid/68/Default.aspx

It is only $499.00 and offers just about everything you could want from portfolio optimization to dynamic money management and much more.

hey, I have looked out TradersStudio, and it looks great. but it's not what I'm looking for. it has no fundamental data analysis module at all.. no econ tests, nevermind having it real time. very nice software though, but not what I want.

 

[Batman28]

Quote from Holmes:

No.

It is not that it may not be worth it, I have used software that was 250K license fee / year.

There is a far simpler reason: It aint worth anything using what anyone else can use. Same principle as that it ain't worth knowing what someone else's indicators are.

In other words: something that is "available to the public" is not going to give you an edge (for very long).

This is besides the point that you do not need complicated software to be succesfull. Once when you know what you need to look for then you can do with most software that allows you to make your own indicators.

Holmes

I don't think you understood the software. it doesn't give you some 'indicator' to have some instant "edge" over public. and it's not a software that will guarantee success for anyone. and of course, some compoents of it are easily available at much lower costs. but it's when you look at its analytics side when you appreciate it - if you know what i mean.

let me give you a example. it takes a student or some assistant, research pro, hours, days or even weeks to conduct a cointegration/error correction model. (I know some of you may not be familiar and hardly value it). some banks spend $$$$ on analysts to do this research. now check this out: this software does it for you, and guess what, REAL-TIME. to put this together from scratch requires a team of very good quants.

and if you think that means nothing, this is exactly the way Niederhoffer trades,, based on short-term time series, and differences.. don't forget, using technical indicators and econometric forecasting are totally different things. each has their own pros and cons.. but just imaging having a real-time error correction model on ur graph real time, tick by tick.

in short, it really comes to judgement, and no software can make anyone money.. but if you're judgements are good, and understand what you are doing, then some softwares definately provide alot of support. hope that makes sense.

 

[Spooz Top]

Quote from Batman28:

I don't think you understood the software. it doesn't give you some 'indicator' to have some instant "edge" over public. and it's not a software that will guarantee success for anyone. and of course, some compoents of it are easily available at much lower costs. but it's when you look at its analytics side when you appreciate it - if you know what i mean.

let me give you a example. it takes a student or some assistant, research pro, hours, days or even weeks to conduct a cointegration/error correction model. (I know some of you may not be familiar and hardly value it). some banks spend $$$$ on analysts to do this research. now check this out: this software does it for you, and guess what, REAL-TIME. to put this together from scratch requires a team of very good quants.

and if you think that means nothing, this is exactly the way Niederhoffer trades,, based on short-term time series, and differences.. don't forget, using technical indicators and econometric forecasting are totally different things. each has their own pros and cons.. but just imaging having a real-time error correction model on ur graph real time, tick by tick. hope that makes some sense.

Niederhoffer.................is`nt he down 12% to 15%.....................sounds great,be just like peter.

 

[Batman28]

Quote from Spooz Top:

Niederhoffer.................is`nt he down 12% to 15%.....................sounds great,be just like peter.

is he? i don't know. but no one can be always right..

 

[Holmes]

Quote from Batman28:

I don't think you understood the software. it doesn't give you some 'indicator' to have some instant "edge" over public. and it's not a software that will guarantee success for anyone. and of course, some compoents of it are easily available at much lower costs. but it's when you look at its analytics side when you appreciate it - if you know what i mean.

let me give you a example. it takes a student or some assistant, research pro, hours, days or even weeks to conduct a cointegration/error correction model. (I know some of you may not be familiar and hardly value it). some banks spend $$$$ on analysts to do this research. now check this out: this software does it for you, and guess what, REAL-TIME. to put this together from scratch requires a team of very good quants.

and if you think that means nothing, this is exactly the way Niederhoffer trades,, based on short-term time series, and differences.. don't forget, using technical indicators and econometric forecasting are totally different things. each has their own pros and cons.. but just imaging having a real-time error correction model on ur graph real time, tick by tick.

in short, it really comes to judgement, and no software can make anyone money.. but if you're judgements are good, and understand what you are doing, then some softwares definately provide alot of support. hope that makes sense.

Ohh, don't worry, I know exactly what you mean. I once employed someone whose brother was running the research desk on one of the three biggest banks in the world. Unlimited budget and over 100 quants there.

Trouble is that these quants don't make serious money but I do. That's why they have a 9 to 5 job and I am all by my itty bitty self.

 

[Batman28]

Quote from Holmes:

Ohh, don't worry, I know exactly what you mean. I once employed someone whose brother was running the research desk on one of the three biggest banks in the world. Unlimited budget and over 100 quants there.

Trouble is that these quants don't make serious money but I do. That's why they have a 9 to 5 job and I am all by my itty bitty self.

lol but are u making more than the person who these quants are reporting to? i wonder. they don't hire quants for nothing, but imagine having a software that can do most of what some can offer. then it's fair to say it is worth it, if you find it useful.

 

[dandxg]

I not going to read the whole thread........does it come with a gurantee of some sort? It better for that kind of money.

 

[nitro]

Quote from Batman28:

...let me give you a example. it takes a student or some assistant, research pro, hours, days or even weeks to conduct a cointegration/error correction model. (I know some of you may not be familiar and hardly value it). some banks spend $$$$ on analysts to do this research. now check this out: this software does it for you, and guess what, REAL-TIME. to put this together from scratch requires a team of very good quants....

I am 50% of the way to implementing this in realtime.

nitro