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j2ee

Registered: Aug 2012
Posts: 344

08-11-12 05:59 AM

Quote from brocklanders:

Metastock is great for charting (i used it before switching to Sierra) but they have really dropped the ball in recent years by not adding any significant new features and completely ignoring autotrading.

Do you use Sierra with Interactive Broker to do real trade? I have been doing trading manually for years but it is a very high pressure daily job and emotional and subjective point of view at that point definitely affect result a lot. I would like to do a lot of back testing and find out a good "system" before any real trade. I see that Ninja Trader is free with daily historical data except I want to hook it up with any broker to do live trade. Is Ninja Trader is a good one to start with to do backtest? Thanks.

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brocklanders

Registered: Aug 2007
Posts: 1711

08-11-12 02:11 PM

Yes, I have used Sierra for three years to do all charting, trading (including auto) and backtesting. It is a a solid choice and very reasonably priced. I have never used Ninja Trader for anything other than an evaluation.

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j2ee

Registered: Aug 2012
Posts: 344

08-11-12 04:01 PM

Quote from brocklanders:

Yes, I have used Sierra for three years to do all charting, trading (including auto) and backtesting. It is a a solid choice and very reasonably priced. I have never used Ninja Trader for anything other than an evaluation.

Thanks for sharing. Can i hook up mticharts with ib demo? Do u still use autotrade or you prefer manual trades after years?

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brocklanders

Registered: Aug 2007
Posts: 1711

08-12-12 07:45 PM

Quote from j2ee:

Do u still use autotrade or you prefer manual trades after years?

They each have their pluses and minuses. I use an automated strategy in a low volatility environment or when I'm not able to be at the screen. I still stick with manual trading during high volatility periods or if the strategy needs constant tweaking. It is extremely difficult to program an automated strategy to meet all of these needs and compete with all of the algorithms currently operating.

Don't fool yourself into thinking automated is any less challenging or less stress than manual. In many cases it is much more due to the enormous amount of testing and work involved outside of market hours to just create something halfway decent.

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j2ee

Registered: Aug 2012
Posts: 344

08-13-12 02:52 AM

Quote from brocklanders:

They each have their pluses and minuses. I use an automated strategy in a low volatility environment or when I'm not able to be at the screen. I still stick with manual trading during high volatility periods or if the strategy needs constant tweaking. It is extremely difficult to program an automated strategy to meet all of these needs and compete with all of the algorithms currently operating.

Don't fool yourself into thinking automated is any less challenging or less stress than manual. In many cases it is much more due to the enormous amount of testing and work involved outside of market hours to just create something halfway decent.

Thanks for sharing. Do you believe Elliott Wave Theory exists and can it be objectively applied in programming in automated trading?

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