Is there ANY software out there that does what we need??

scottomatic · Feb 17, 2007

I seem to be on the endless quest for a software I can't find:

I want something that does the backtesting I want, with good optimization, and autotrades through a broker that serves most markets.

Here are my needs, by priority:

1. Intraday capability. FULL intraday capability, will the ability to do tick bars, range bars, volume bars, etc.

2. Ability to develop trading systems WITHOUT being a programmer. Point and click interface or reasonably simply formula setup. Something like Neuroshell or Metastock is ideal.

3. Sophisticated backtesting, with the ability to have separate optimization and out of sample testing windows.

4. Ability to scale out of trades, like most pros do. i.e., enter with three contracts, exit the first at X ticks, exit the second at Y ticks, exit the third at Z ticks. All optimizable.

5. Full portfolio optimization, with money management parameters so that I can know how I can expect to perform with a basket of about 10 futures/forex systems together.

6. Genetic optimization, so I don't have to wait a week for a complex analysis to finish.

7. Broker interface for fully automated trading once I've settled on an optimized system.

8. Ability to code in a high level programming language so that I can hire out custom indicator or strategies beyond my abilities.

Am I dreaming? I feel like I have been looking for something like this forever with no luck. Someone PLEASE tell me there is something out there that does the full job. I don't much care about the $$$. I'd rather spend $10,000 on something that will actually do the job than spend $1,000 ten times and not be any further than when I started. I don't know how to program beyond simple formula-type stuff like with Metastock or Ensign and, honestly, I don't feel like I should have to in order to flesh out trading ideas.

I would even appreciate ideas about using multiple trading software apps to do the full job. i.e, backtest with this, then import into this for portfolio optimization, the import into this for trading execution. Though, obviously, I'd prefer the elegance of a single solution.

I KNOW I'm not the only one with this frustration. Please share your thought here for all to benefit from.

Thanks,
Scott

majhoos · Apr 13, 2007

Have you ever tried âTrading Solutionâs software? Perhaps you havenât otherwise you would have mentioned it in your post. Itâs almost brilliant and does exactly what you have explained. It comes with many tutorial videos which you will find useful. Its damn good www.tradingsolutions.com

RL8093 · Apr 13, 2007

Quote from majhoos:
Have you ever tried âTrading Solutionâs software? Perhaps you havenât otherwise you would have mentioned it in your post. Itâs almost brilliant and does exactly what you have explained. It comes with many tutorial videos which you will find useful. Its damn good www.tradingsolutions.com
More...

If you feel it is as good as you say, you should share an in-depth review so everyone could benefit from your experience. Currently there are only 2 old ones in the review area and they do not exactly make for a major endorsement...

http://www.elitetrader.com/so/?action=view&SR_ProductID=76

MGJ · Apr 13, 2007

Perhaps it would be useful to ask yourself, Why? Why can't you find software that has all these features?

Suppose the answer is, you can't find it because it doesn't exist. Then it may be useful to ask yourself a follow-up question, Why? Why doesn't someone make and sell/lease/rent/license the software that you want?

If you think about it for an hour or two, I'm confident you will be able to come up with at least three very plausible reasons.

trader07 · Apr 13, 2007

I share similar sentiments. Unfortunately in my quest I have found that one still needs to do some programming to get the "perfect" system one wants that will suit his needs. I am currently working with Amibroker which is fairly easy to code. It has backtest, optimization, autotrading etc. www.amibroker.com

Quote from scottomatic:

I seem to be on the endless quest for a software I can't find:

I want something that does the backtesting I want, with good optimization, and autotrades through a broker that serves most markets.

Here are my needs, by priority:

1. Intraday capability. FULL intraday capability, will the ability to do tick bars, range bars, volume bars, etc.

2. Ability to develop trading systems WITHOUT being a programmer. Point and click interface or reasonably simply formula setup. Something like Neuroshell or Metastock is ideal.

3. Sophisticated backtesting, with the ability to have separate optimization and out of sample testing windows.

4. Ability to scale out of trades, like most pros do. i.e., enter with three contracts, exit the first at X ticks, exit the second at Y ticks, exit the third at Z ticks. All optimizable.

5. Full portfolio optimization, with money management parameters so that I can know how I can expect to perform with a basket of about 10 futures/forex systems together.

6. Genetic optimization, so I don't have to wait a week for a complex analysis to finish.

7. Broker interface for fully automated trading once I've settled on an optimized system.

8. Ability to code in a high level programming language so that I can hire out custom indicator or strategies beyond my abilities.

Am I dreaming? I feel like I have been looking for something like this forever with no luck. Someone PLEASE tell me there is something out there that does the full job. I don't much care about the $$$. I'd rather spend $10,000 on something that will actually do the job than spend $1,000 ten times and not be any further than when I started. I don't know how to program beyond simple formula-type stuff like with Metastock or Ensign and, honestly, I don't feel like I should have to in order to flesh out trading ideas.

I would even appreciate ideas about using multiple trading software apps to do the full job. i.e, backtest with this, then import into this for portfolio optimization, the import into this for trading execution. Though, obviously, I'd prefer the elegance of a single solution.

I KNOW I'm not the only one with this frustration. Please share your thought here for all to benefit from.

Thanks,
Scott
More...

makloda · Apr 14, 2007

Out of the 8 points you list, Neoticker will cover the MOST, but not all.

www.tickquest.com

Comes with a 2000 page manual. Have fun.

syswizard · Apr 14, 2007

Quote from MGJ:

Perhaps it would be useful to ask yourself, Why? Why can't you find software that has all these features?

Suppose the answer is, you can't find it because it doesn't exist. Then it may be useful to ask yourself a follow-up question, Why? Why doesn't someone make and sell/lease/rent/license the software that you want?

If you think about it for an hour or two, I'm confident you will be able to come up with at least three very plausible reasons.
More...

Exactly. YOU ARE ASKING FOR A LOT. What is your ability to pay for this ? I see the "I want a Ferrari, but can't afford it" syndrome at play here.
BTW: Amibroker is pretty close to your requirements.
Nothing will satisfy them all, but I think Goldman Saches or Lehman Brothers has something that would work....cost them several million dollars in development though.

E23 · May 16, 2007

1. Intraday capability. FULL intraday capability, will the ability to do tick bars, range bars, volume bars, etc.

2. Ability to develop trading systems WITHOUT being a programmer. Point and click interface or reasonably simply formula setup. Something like Neuroshell or Metastock is ideal.

3. Sophisticated backtesting, with the ability to have separate optimization and out of sample testing windows.

6. Genetic optimization, so I don't have to wait a week for a complex analysis to finish.

7. Broker interface for fully automated trading once I've settled on an optimized system.

Anyone know of such software?

nkhoi · May 16, 2007

Ninja offers some of asked features but that was ver 5 , they are now on ver 6.

Volker Butzlaff · May 16, 2007

@scottomatic,

many requirements, but you've forgotten a few very important tool features to evaluate your chances, to analyse the risks and to validate your system robustness under changed market conditions as described here: http://www.zentrader.de/html/international__english_.html

If you add these requirements, you'll get a nearly complete catalogue for a "perfect" trading system development software product, but I don't believe, that there's such a thing out there now...

bye,
zentrader