Tradestation

anyone use tradestation automation for quick turns futures and equity? how fast can this platform handle, are there better systems out there, lower commissions offering the same automation with better execution?
thanks

 

then theres this guy that wants everything for nothing. I love it.

 

dont we all

 

Does anyone have any experience with Tradestations Radar screener filter system. How does it compare to Neovests First Alert.

 

You need to define terms.

There are two main differences.

First, TS is not a true stock scanner. It is a stock filtering program. It can filter ~1000 stocks based on just about any criteria/time frame you can imagine and or write in easylanguage.

It cannot scan the entire stock universe. But you can create watchlists for it to filter. DOW 30. Nasdaq 100. SP500 etc. Sectors/Industry. Whatever.

Up to 1000. I seriously doubt you need to filter more stocks than that. But maybe you do?

If so, you need something like First Alert. Or better, Insight. These too can scan just about any criteria/pattern/or
scenario you can code up.

The second difference is twofold: Cost and update ease. If you dont maintain the data on your side, then the administrator on the server side has to code your criteria.

This takes time. Unfortunately. Insight will run you about $500/month (not including data) if you want to write you own code on the fly and maintain your own server of data.

You can also find what are called Whisper resellers. Which basically allow you to license a copy of Insight run on 3rd party database. Expect to pay around $300/month. In this case you would have to have them code your filters and upload it into their server side. Some are slow to do this. As in weeks to code your stuff.

It has been a very long time since I used First Alert. The thin client was crap. I do not know what they have now. Expect to pay around the same as Insight.


They have some integrated package now, which I know very little about.


Both Insight/First Alert have canned filters you can run right off the bat.

Some are not bad. But of course you want to run your own.


As I said, I have not used First Alert in some time, but I have used Insight and Whisper recently and use RadarScreen every day. Both are lightning fast and reliable.

I would give the edge to RS, simply because once you know easylanguage, you can write as simple or complex scans as you need. And with minimum number of trades placed in a month, you get RS free with TS charting platform.

You will need a watchlist of stocks to start from however.

Both First Alert and RS have demos on their websites. The RS one is about 10 min.

Call Barry(developer) at Insight. He used to have demos available. Not certain if he does anymore. Most Whisper resellers allow you 30 day trial but costs about $100

 

Thank you for your informative response. On average, how long does it take for one to learn "easy language" to program RS. Is it really "easy" as its moniker implies.

 

Depends on you Javs,

It's not "easy" but fairly simple. Just about anyone code write simple indicators/formula/scans in 1 day.

Im still learning subtle things and Ive used it for a long time.

Poke around TS website. Many, many examples.

Every month Stocks & Commodities mag has some system some author cooks up, and the system is cast into a variety of software codes. EL code among them. Take a look.

There are many options and sources. If time if more pressing then $ you can find someone to code your stuff. There are code writers out there. Have no idea what they charge.

The best platform is the one you know how to use. Whichever you choose I recommend you learn it inside and out, including writing code for it.

 

Thank you once again for your response Aok. I am leaning towards Tradestation because of their automated trading and because of your positive review of RS. From your experience, does TS have poor customer support as some have complained about? If so, how bad is it?

 

Thanks for answering this question. I just sent TS an email about whether its software was a true scanner.

Amibroker has an EXPLORE function that you can use in AFL to scan the entire universe of stocks. I like to do things like find all stocks that have risen in price for the most recent 3 consecutive months. I'm looking to catch the movers before they breakout.

I was considering a move to TS because of its excellent historical data but if I have to maintain symbol lists than I may as well stay with Amibroker.

 

How much minute data does TradeStation have for ES? eSignal only seems to have about 6 months which limits my testing.