what's better - wealthlab or tradestation??

Discussion in 'Trading Software' started by dafugginman, Nov 12, 2003.

  1. i need something that will backtest say every stock out there at the same time, and provide real time alerts for any stock that meets that criteria, though i'm not in need of brokerage services. can anybody tell me the benefits and drawbacks of one or both?
  2. You should be a bit more precise in your description. To backtest all stocks at the same time, I would suggest WLD3 (because TS can not do this). Depending on your criteria you could get real time alerts of any stock that meets your criteria with WLD3 too. WL was designed for multible securities testing and trading.
  3. Momento


    you should make a poll :cool:
  4. well....i'm looking at say xyz has been down 3 or more days in a row, buy when it breaks above yesterday's low. not sure if that helps, but if it works, then i would like to know every stock to which this criteria applies, not just a limited basket of say 1000 or whatever.

    also, can anybody recommend a programmer they hired. i just can't bring myself to do it :( :( :(

    i may contact those guys from tradingfrommainstreet and ask who they used (but they did their testing with tradestation). that guy brandon said hiring a programmer was the best thing he ever did.
  5. Looking at that POLL, with TS 19votes and WL 29
    votes, I say it's TS 29 votes and WL 19 votes, as i
    have experianced that Voting are always opposite
    to what reality is, because Pros always lie in their voting.

    Want a proof, just find out how many trader are just
    using tradestation for strategy and backtesting who
    don't have Brokerage account with TS compare to WL.
  6. This is a very strange argument (to say the least) and would not withstand any rational discussion. In any case what ism ore important then how many million dollars a company is putting into marketing is the quality of the product and if this is your criteria then there is no choise. Just look at the criteria set by the first question .... "backtest every stock out there..."! Only WLD3 can do it.
  7. I have to admit my prejudice on this subject. Because I learned to program in Pascal first, I would lean towards Wealthlab as the best product. Also if you want to test the universe of equities, screening all issues, I read Volker's claim that only Wealthlab can do it. I believe Tradestation has not kept pace with other products. You should be aware that there are a number of other products that are never mentioned, probably because none of the posters have enough experience to use them. Among the best are those that use a generic programming language such as C++ or Object Pascal. These products also provide libraries of add-on modules that make is easier for the experienced programmer to get to a useable end result. Of the general purpose programs that are available, I like Borland's Delphi and/or C-Trader Toolkit from Scientific Consultant Services in NYC.
  8. Volker,

    I've used WLD for 2 years now.
    The weak point of WLD is it depends on one genious programer, Dion. In my opinion, uunless you hire any other good programers and make a team for the product development, WLD can never reach the true proffesioanl tool level.
    Needless to say, it's a great product, but as you can see at the software review at ET, users think it's not reliable yet. I stop using WLD for realtime trading, instead, using eSignal API. The core engine of WLD should be rewritten. It is for performance optimization and crush-proof.
  9. I see a point in what you say but on the other hand some other companies have many programmers and are not able to fix problems or add features as quick as WL does?

    Please let us know what problems you have seen and we will take a look at it. We are there to solve you problems. :)
    #10     Nov 16, 2003