Hedge funds using TradeStation/MultiCharts?

Discussion in 'Trading Software' started by Nerva, Mar 1, 2009.

  1. Nerva


    Does anyone know of any successful small (ie 5-10 mil) hedge funds using TradeStation / MultiCharts analysis software? Any using automated technical analysis routines?

    I plan to start a hedge fund in the future and would like to know I'm not wasting my time using this software for a hedge fund.

    Thanks for any input..
  2. Success? TradeStation is a tool. It can help you execute trades automatically. Will one be successful or not, wouldn't that depend on how one uses this tool (i.e. your own strategies of trading)?
  3. Professional hedge fund managers don't generally use retail brokers or retail software.

    For brokers think Reuters Trading, Newedge, MF Global, etc those firms generally allow 1-2 million dollar accounts for high volume institutional trading, but generally accept around 5 million. Bloomberg Tradebook is at least a 10-20 million minimum last time a checked.

    For charting software they use Bloomberg, Reuters, CQG as the majors. You can also plugin your broker into the CQG or Reuters trading platforms. There is also SunGard Global Trading.

    I recommend Reuters Metastock, it is lower priced than the aforementioned products and has very wide international market access.
  4. Nerva


    Thankyou. What about using MultiCharts through Interactive Brokers to manage a fund?
  5. IB is a decent direct access retail broker and it may be acceptable for accounts under a few million, after that point they may have trouble clearing and you will need to a use an institutional prime brokerage as I have written previously.

    I still would recommend Reuters Metastock as one of the premier solutions, not Multicharts as Reuters is a large reputable company and you are much less likely to have reliability issues. However I would even prefer Interactive Data to Multicharts.
  6. saico


    RediPlus + Goldman Sachs. But would recommend another provider for charting software. For executions its one of the best imo.
  7. Nerva


    Thankyou all for the replies.
  8. ventus


    reiser is correct. i used tradebook and tt when i was on the prop desk at a large ibank and am currently using a combination of gs redi, ms passport, tt, and cqg at my current fund. bloomberg is used as an all-around tool...msgs, chatting, news, charts, etc. we don't use bloomberg as a trading platform.
  9. There are many small professional CTAs (e.g. $10m in assets) that use Tradestation, simply because they have a pretty decent backtesting and execution platform that comes with years of intraday data -- despite all the well-known shortcomings.
  10. Don't like Redi, but couldn't recommend the Barclays system enough. Really nice...
    #10     Mar 3, 2009