Deciding on a Backtesting and Trading Platform

Could someone please tell me how it compares to the other programs here? The main question is what is NinjaTrader lacking?

 

TradeStation uses a language “EasyLanguage” which helps you to develop your systems. You can migrate the code developed here via the “Migration Tool” of TraderStudio.

A point to note that these two software results do not match as TradersStudio results are more closer to the real life results and situations using real money. They differ in cases like bars, rounding errors, inter-market and limit orders cases.

However, you might have already created systems and codes in TraderStation and to re-create them would be time consuming. Hence, the “Migration Tool” of TradersStudio helps in conversion of TradeStation code (EasyLanguage) into TradersStudio code (TradersStudio Basic).

I did use the translator on the sample systems and functions which they supplied from Tradestation in standard text files. However, the translator can not read ELA, ELD and this need to be either pasted from Tradestation into the translator or pasted from Notepad or code on a web site.

The translator also works only on User Functions and Signals, (Systems), and not with indicators. It means that you can easily convert code consisting of Bararrays, data; built-in-functions etc. and even the dependencies on other functions are translated. However, it translates only those functions that return a value, while the remaining can be migrated via “TradersStudio Custom Indicator routine”.

However, I had some luck translating some indicators from magazine articles by commenting out the plot statements and then translating them as systems. Then, you are required to create a new indicator in TradersStudio and paste this code. You can not save the same directly or else it shall save as a system.

It seems that TradeStation 2000i code works every well. This has been confirmed as Mr. Mr. Murray has informed me that TradeStation 2000i code is better than the new version by 95%. Hence, when it codes to the TradeStation new on-line version 8.2, Mr. Murray said that it can be closer to 90% as TradeStation sometimes changes things in-between the versions which takes some time for them to catch up.

Some issues you need to realize that whenever TradeStation changes its version, the migration tool needs to adapt itself. Hence, you can use old and new features of TradeStation together. Moreover, it does works well, better on the TradeStation 2000i code than the version 8.3 code. Nevertheless, it works well in both cases without any changes (say 9 out of 10 times and 95%+ for 2000i).

However, there is a problem when people use the English like syntax of TradeStation versus the standard programming. However, Mr. Murray says that he shall get these fixed as soon as they are reported in the next built.

Hence, I can conclude from my above research and experiments, that most of the time you can translate a system and have it ready to run in a few keystrokes.

 

Yes, There a good section on it in Robert Pardo new book book.
The Evaluation and Optimization of Trading Systems (Second Addition)

In addition I have written several articles in Futures on the topic over the years. One I remember was April and June 2005.

 

An example for the Forex review part. Please have a look at the attached file.

 

Does anyone have experience, will TradersStudio help you translate your Easy Language code if you have any problems?

 

Just to help you out, following are links to the book (Robert):

a) http://www.amazon.com/s?ie=UTF8&search-type=ss&index=books&field-author=Robert Pardo&page=1

b) http://as.wiley.com/WileyCDA/WileyTitle/productCd-0470128011.html

c) http://www.ecampus.com/book/9780470128015


To search for Murray articles, go to http://www.allbusiness.com/ site and type either his name (Ruggiero, Murray) or the topic you wish (e.g. walk forward).

 

As I understand it, TradersStudio does not support REAL TIME trading:

http://www.elitetrader.com/vb/showt...erpage=6&highlight=tradersstudio&pagenumber=3

Personally, I am quite tired of the many shortcomings of TradeStation, but is it really fair to compare an EOD (End of Day) software with a real time data software?

Lots of effort went into your reviews, but I believe you compared an apple to an orange.

 

I agree - the whole point is to TRADE, real time.
Developing and testing with one package and trading with another certainly does not appear to be the most efficient use of your time. Unless you you have tons of time on your hand.
Multicharts is a good product, the newest version is great improvement. I have TS and got MC recently, I may go to MC totally by next month or so. Both are real time, both use EL.

 

I agree that the point is to trade but can't see why the whole point is to trade real time.

I have used Multicharts and can tell you that it is an inferior product. It majors on charting and easylanguage compatibility while ignoring scalability, robustness and flexibility as drives to it's design criteria. Yes, they've cobbled together some kind of real-time interface and it may have an auto-trading front-end by now. But I can bet these have been rushed into the product to get users biting without being properly thought through. That's what Multicharts is, a rushed commerical imperative based on Tradestation going lease-only. Try to do anything that remotely stretches it and the entire rickety edifice falls down in a heap!

Multicharts is not a product I would ever trust any of my money with. It is a toy and not worthy of mentioning in the same sentence as products like Tradersstudio or Tranding Blox. real-time interfaces and auto-trading are not the benchmark by which backtest platforms should be evaluated, IMO. Quite rightly, RT broker interfaces and auto-trading should be some of the last building blocks set in place when erecting a software pyramid of performance and flexibility.


Thx
D

 

Fundjunkie,

We back test on 30 minute and longer bars. We intraday system trade 30 minute and longer bars. Therefore, we require a intraday data feed that can supply both historical and real time data from the same source. Trading any system that was tested using a different data source than that of your trading platform can be dangerous, especially in forex.

MultiCharts and their forex-exclusive MCFX (currently in beta) offer the intraday system trader what we require to trade our systems. TradersStudio unfortunately does not offer real time data yet (per their website), therefore they are not suitable for our type of work. I hope someday TradersStudio offers real time and historical data from the same source AND a brokerage partner who’s platform uses the same intraday data feed.

That day is not today.

-Steve