WealthLab3 Or TradeStation7?... Help!

Discussion in 'Trading Software' started by ktmexc20, Nov 9, 2003.

  1. (Last posts did not compute)
    Please express your opinion of which I should consider using for intensive backtesting and then automation. TS no basket testing? does TS support Monte Carlo? Is wld3 as confusing as it seems? I woulld be using Interactive Brokers with wld3. How is TS for shortable stocks?
  2. Neither, but amibroker. Its a shame that the low price of this top notch system seem to slow its penetration. www.amibroker.com

    A satisfied customer (which is easy with a $199. combined EOD and RT proggy- with IB Api support)

  3. Hittfeld,

    Thanks for your reply.

    Have you worked with either of the others? Amibroker is not as recognizable after lots of research. Because of the time I've already invested, I believe I'm going to go with one of the two previously stated.

  4. Yes TS2ki and MS up to Vers8. Amibroker seems to have a rapid growing business, but it will ´take a while to catch up with TS amd MS in pure numbers.

    Technologically its years ahead of both. At yahoo there is a usergroup with > 2000 messages per month (and no spams).

    On the company wehsite you should find somewhere

    a) Userguide.pdf

    b) Messages archive (including search-engine)

    Especially b) will give you a quick idea of user satisfaction.

    Despite the very low price ($129 EOD, $199 RT/Eod) you could download a working evaluation version.

    Just the hasslefree downloadengine for Yahoo EOD and RT for IB are woth the price.

    Many former TS and MS users.

  5. Hittfeld,

    Thanks again for your response. I will investigate.

  6. Let me start by explaining the difference between basket testing and portfolio testing. When testing a basket you test one symbol after the other. MS and AB might be able to do that, TS I dont think so? WLD3 is using true portfolio level backtesting, that means it is aware of what is going on in your portfolio and what is the value of the portfolio. Even large funds use it because it is able to follow certain portfolio rules. The main money mangement rules are nicely integrated into the software. So it takes you a click of the mouse to change the MM settings. Yes, we just released MC-Lab, which I find particular important for true expectancy testing and it has MM settings also included.
    WL is open to any data vendor or broker, this makes the inital set up more complex but will give you more power.
    Depending on your trading style it is good to have WL and IB. You can place 200 orders per day and take your girl (boy) friend for coffee afterwards (my prefered trading style and profitable :)).
    WL has been voted here quite often the best backtesting software. That was WLD2, now we released WLD3 and for me as none programmer it is heaven send. I can create (profitable) systems in a minute just by drag and drop.
  7. I was deciding on which software on strategy/backtesting/
    order automation since last three monthe.
    I found TS (2000i) so easy to use, while WL so confusing,
    even easy langugge is so easy to understand, but not sure
    if i can do advance things with it in future.
    Well, i don't know your level of experiance, but i am beginer
    in this feild.
    Considering longterm prospective as one complete product
    i choosed TS.
  8. You surely do not have a good taste if it comes to software but I can surely sympathize with your "Interests". :)
  9. Volker,

    Veilen Dank,

    I had a feeling I would here from one of you WLD guys.

    Here's the thing... I was initially enticed to program trading by TS.
    Since I live in South Florida, I took advantage of their training seminars to alleviate the inevitable learning curve of programing, etc.

    See, I have been diligently studying the concepts of trading (and the markets) for the past two years... I still have not made a single trade! But, I consider myself well informed and am now ready to attack active trading with vigor and prudence.

    I know from my research that WLD is considered to be a more capable utility,
    But, in my opinion(after my initial evaluation), I found it to be a little more inundating (at first glance) than TS was.

    I have now spent a little more time familiarizing myself with it and am becoming quite comfortable indeed.

    Truth be Known... I took the plunge, and made the purchase. At this point I am confident that I will have no reason to look back.

    The only struggle I'm having now is... which streaming/historical data source to use. I've read complaints on just about all of them. I'd use IBD, but Dr.K
    said it would not do well for back testing.

    Veile Gruessa,
  10. Are you using the IB datafeed with the RT version? I wasn't aware this was available. I've been testing the demo... but also evaluating neotick -- decisions, decisions...:confused:
    #10     Nov 10, 2003