Using both tradestation and X-Trader

Discussion in 'Trading Software' started by shark, Jul 30, 2008.

  1. shark


    I'd like you professional trader types to critique my setup please. I am planning on opening accounts with both Tradestation and Velocity Futures (X-Trader) and using them both at the same time. I understand that tradestation has excellant charting and analytical ability, but is lacking in order execution. Because I like to trade very short time frames, I'd use xtrader for order entry, which is it's apparent strength, though it lacks in charting ability. I would split my cash evenly between them and have them each running on different computers.Tradestation would be used for the occasional automated and longer-term trade as well as charting. Does this plan make sense?

  2. Aok


    Not sure exactly what you're looking for Shark.

    First of all, nothing wrong with Tradestation but do you need something specific from it? EasyLanguage code is plentiful but dont let that be the determining issue.

    The only thing TS has that I can think of as a clear advantage is Radar Screen. Even that they are about to lose their edge and if you are only trading handful of futures, RS is moot.

    In other words, yes, the charting and analytics are good but other software is just as capable for less $.

    On the other hand, if you make 10 round turn futures trades per month you get TS platform free minus commish and xchange fees. Which is a damn good deal. But again, there are better broker rates out there.

    Xtrader is also good but very expensive and there are other front end/brokers less expensive and as effective.

    Some more information would be helpful

    In the meantime, search the forums for

    interactive brokers
    sierra chart
    ensign software
    button trader
    mirus futures

    There are many others but those just popped into my head.
  3. shark


    What I really need is intraday charting that goes back several years atleast, and an execution platform that is capable of scalping. I can get X-Trader free from Velocity.
  4. XTrader has an API. If you are really serious, why not pay someone to program your indicators and charts for you ?
    Getting signals from one datafeed and placing orders into another datafeed is dangerous business IMHO.
    Especially for short-term trading and especially scalping.
  5. shark


    Ok then I have one more question. How far back do the intraday charts go back with X-Study? They don't seem to say on their website.
  6. Shark,

    Check out CQG for charting.

    They will give you a 2 week free trial.
  7. TraDaToR


    Although Xtrader is better, TS order entry is not that bad. I scalp and make 50 + trades per day with TS Matrix.No big problem.

    Problem with TS is their FEED, missing sizes everywhere. TT feed is way better for scalping.
  8. I've heard this often lately. Why hasn't TS beefed-up their data server farm ? If this is not feasible, why don't they employe a sampling technique like IB then ?
  9. My major concern with X-Trader is that X-Study does not offer tick or volume charts, which I believe are an advantage for scalping.

    Does anybody know it it's possible to connect the TT feed to Ensign for example?
  10. Not possible; I mean Ensign does not provide any TT-Ensign fix adapter and has no plans about it.
    #10     Aug 19, 2008