Tradestation

Discussion in 'Trading Software' started by connor2546, Jan 10, 2002.

  1. I am thinking about using this firm primarily because of their trading platform. I use TC 2000 and have been using Datek for the last 6 years, but now that I've become more active I'm looking for a direct access firm with a good trading platform. I do about 10 trades per day. Comments with any information on how well Tradestation works or other options would be appreciated.
     
  2. nitro

    nitro

    Well,

    I have owned TS since 3.0. In the past, IMHO, it was a toy mostly, but it was all that was out there to do certain types of research.

    Today, I use TS 6 (also known as Pro) ad this is a huge improvement over all other TS. The biggest reason is that now one does not have to collect the data oneself. It has its problems, e.g., it insists on allowing one to do reasearch only if you make a Chart but it is better than most things out there when it is taken as a whole. I also like it because I can write DLL's to interface with other programs in VC++ and call it directly fromt their EasyLanguage.


    The TS datafeed have also been very good for me, though I know of others on this list that would differ with me.

    As far as a brokerage, I do not use them, though I will be opening an account with them soon to do some testing to compare the executions and fills I get vs Interactive Brokers.

    If you do decide to use them as a broker, I would love to hear your experiences.

    nitro
     
  3. I've been usign TS 6 too for a few months. And I was wondering if you guys ever figure out how to do "partial graphs"?

    Let's say you want to see the various technical indicators and stock prices as they appeared in real-time up a certain point only?

    Example:

    EBAY from 9:30am to 12:noon and all the indicator values like MA, MACD, RSI,etc. calculate up to that point only and not more?

    The reason I want that is because I trade intraday. And I want to know if I woudl have traded at those values as I would have seen them in real-time. Not at the end of the day when the values are recalculated over an ENTIRE day's worth of values.

    Secondly, it seems that TS6 only offers a lookback of 1 day? What I want is just that 1 day calculations. Not even looking back...

    I emailed the tech support people and I don't think they understand my question.

    Do you guys know if TS 6 can do that? If not then what software package can??

    thanks!

    trader99
     
  4. I haven't used the software yet, but your statement about only being able to look back 1 day disturbs me. Do I understand you correctly that you can only get say a 5 minute bar back for the previous day, not say 5 days worth of 5 minute bars? Or 5 days of 1 hour bars?
     
  5. nitro

    nitro

    "I've been usign TS 6 too for a few months. And I was wondering if you guys ever figure out how to do "partial graphs"?"

    No.

    "Let's say you want to see the various technical indicators and stock prices as they appeared in real-time up a certain point only?

    Example:

    EBAY from 9:30am to 12:noon and all the indicator values like MA, MACD, RSI,etc. calculate up to that point only and not more?"


    Well, why not scroll the window so that you cannot see what is to the right of it? All you would see are the indicator values up to that point, the bars up to that point, etc. Then when you make a decision, start scrolling to see the next bars?



    "...Secondly, it seems that TS6 only offers a lookback of 1 day? What I want is just that 1 day calculations. Not even looking back... "

    I emailed the tech support people and I don't think they understand my question. "


    I am not sure I understand your question either. It could mean alot of things, and all of them make sense. Please be more explicit.

    nitro
     
  6. nitro

    nitro

    "I haven't used the software yet, but your statement about only being able to look back 1 day disturbs me. Do I understand you correctly that you can only get say a 5 minute bar back for the previous day, not say 5 days worth of 5 minute bars? Or 5 days of 1 hour bars?"

    No. Intraday data is available as far back as one year. This one years worth of intraday data can be displayed at any bar interval of 1 minute to as minutes as you want, in one minute intervals. If you want to see every tick, you can do a tick bar, but those do have some limitations.

    nitro
     
  7. connoer:
    "I haven't used the software yet, but your statement about only being able to look back 1 day disturbs me. Do I understand you correctly that you can only get say a 5 minute bar back for the previous day, not say 5 days worth of 5 minute bars? Or 5 days of 1 hour bars?"

    No!! Ts6 can display data as far back aas 1 year as nitro pointed out.


    Nitro:

    Can you please answer my question I posted earlier?

    Let's say it's the end of the day. And I want to see what the MA and RSI was on MXIM as of 10:11am EST on a 1min and 5min interval? Can TS6 do that?

    Because by the end of the day, when you plot the graphs, the MA and RSI you see is NOT the same MA + RSI that you saw at 10:11am EST this morning because it has been recalculated using the entire series from YESTERDAY as well!!!

    You see, TS 6 doesn't allow you a mere intrady chart! You are FORCED to look back at least 1 day. But the trading platofrom I use only calculates intraday.

    so, that's my dilemma!

    trader99
     
  8. nitro

    nitro

    trader99, I thought I did answer your question, but I am totally dumfounded.

    Let us do a simple example, of say, a moving average, of a few "prices." Here are the closing prices 1, 2, 3 , 4, of the bars. Let's say that the prices occurred at 10:00, 10:05, 10:10, 10:15, 10:20, respectively. Therefore, we are looking at 5 minute bars.

    Now let us say that I am doing a three period MA at time 10:11. Note that I cannot use a three period MA until I have at least three bars, that is what TS means by the "look back." The MA value at 10:11 is (1 + 2 + 3) / 3 = 2. OK, now, 10:16 rolls along, and its MA is (2 + 3 + 4) / 3 = 3.

    TS has drawn the MA as an indicator as the value 2 and the value 3 up to this point, and it remains so, _AT_THOSE_POINTS_, no matter what price values come after it!

    I guess I do not understand your question still. Perhaps you can use a simple example like above to make it clearer for me? Please include simple prices and simple time stamps.


    nitro
     
  9. jem

    jem

    I think trader 99, if that was his/her name is alluding to the fact that while you may be right about the look back period when you watch indicators real time you will see them cross and uncross depending on where the current bar finishes. (At least with some indicators).

    Additionally, I also read a book (quickly) where the author gave examples of how an macd looked at 10:00 am on your charts and how it looked at the close. Believe me it looked completely different. Now I do not look at the macd much so it never bothered me. In fact I do not really use my indicators much. (Besides moving averages). But if I did rely on them this lady's book would have driven me to stop trading off them....

    For instance not only did the macd seem to uncross but it layed differently in the graph turning a stong cross into a momuntumless crap zone.

    By the way the author could be wrong... do not shoot the messenger... but I would appreciate a rocket scientists input or a physicists and I know you people are out there.
     
  10. nitro,

    OK. I understand your point and example. But here's my problem has a twist or maybe more subtle unless I'm missing something here(??).

    On some days, I swear i saw the RSI on the 1min and 5min to be 100 while I'm daytrading on my platform.

    But at the end of the day, when I go home and print the stock charts on TS6 at those VERY EXACT time(down to the min.) I DO NOT get the same RSI value of 100 or whatever RSI I saw while I trade during the day.

    My guess is this. I think my trading platform only calculates the RSI, MA, or MACD or whatever technical indicator on a PURE INTRADAY basis. so, in your example, it would be true that in the middel of the day the values should be somewhat the same if not exactly. I have to observe it more carefully tomorrow.

    BUT, however in the BEGINNING of the day when there's not enough data point, I think there is a slight discrepancy between my trading platform and TS6 values since I believe(???) that my platform doesn't go to yesterday to calculate the data while TS6 does.

    here's an example to clarify:

    Let's say I have a 9 period for my RSI. So at 9:37am EST, which means there has NOT being 9 minutes even since the opening. The RSI on a particular XYZ stock is at 96 on TS6 but on my platform while I trade in REAL-TIME it's at 100 on both 1min and the 5min. I know it doesn't sound like much of a difference, but I can assure you on some days the difference is a lot bigger. I guess I'll have to start record some data points for comparison sakes!

    If you could help me with this mystery then it would be great!

    thanks!

    trader99
     
    #10     Jan 11, 2002