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I am in exactly the same boat but about 2 months ahead of you. Let
me share what I've done/learned and hopefully we can get more
insight from others.
2 months ago I looked at the options and decided to purchase
AmiBroker along w/ an Esignal datafeed. My goal was to do some
automated trading w/ my IB account using either the plug-in or
Databullet, which various folks have said works pretty well.
The learning curve was relatively steep - it took me a while to
think in terms of "Arrays" and oftentimes I still get stuck because
of this but usually through the board and/or support I get quick
answers.
I have been very impressed with the systems ability to scan end of
day data, for instance (I download end of day data from yahoo) and
allow me to identify certain stocks I might want to trade the next
day. It can run through the whole market pretty quickly. I have
also runs tons and tons of backtests and it works great.
So far my one issue or concern dealt more w/ real-time intraday
activities. Not that there was anything wrong with it - just that
I don't love the interface for it. Meanwhile Tradestation was (and
may still be) running a special where as long as you open an account
and deposit 30K you can test their platform free for 30 days; so I
recently decided to do it (I had started the application process
before I even got AmiBroker) - just to understand how the products
compare. I love their interface and find it more intuitive to
watch stocks during the day (not my main goal but a nice bonus). I
find it much easier to customize the charts, interface, etc. with
it.
At this point I'm considering a few scenarios...
1. Keep Amibroker along w/ the free yahoo data download to run daily
scans then put these watch lists into Tradestation for day time
monitoring and automated trading. Tradestation won't cost that
much more than Esignal, which I will no longer need. Downside:
Need to become familiar w/ 2 languages to make use of both
effectively.
2. Swith to Tradestation. So far I really really like the power to
build and scan w/ Amibroker and the backtesting and for that matter
even w/ Tradestation's scanning package you can't scan the entire
market at once; so I don't think I can consider giving up
Amibroker. I'm going to try to work a bit more w/ Tradestations
language first to get a better handle on it - but this is an
unlikely scenario since I think there will be a place for AmiBroker.
3. Drop Tradestation and spend more time getting used to the
interface of Amibroker for intraday stuff - which right now I don't
like quite as much. This is the other more likely scenario.
I'd be happy to share some of the learning curve if you get any more
feedback on this.
Mike
--- In amibroker@xxxxxxxxxxxxxxx, Mo Joe <traderjoe2003@xxxx> wrote:
>
>
> I'm primarily interested in backtesting Ideas and most
> importantly I want to automate some of the systems
> I've found to be profitable. I was gearing up to learn
> Trade Station but a friend pointed me here. Since
> there is a huge learning curve with these types of
> software that have their own language,and my time is
> essentially limited since I trade fulltime and also
> operate a business, I have to be very careful with
> what I start off with.
>
> Thank you for your comments. I look forward to any
> more suggestions group members might care to add.
>
>
> --- moztrader <das300@xxxx> wrote:
>
> >
> > Hi MAX<
> > this is a fine pice of software. I will state a few
> > helpers :
> >
> > a) buy the product and support the teams. In my
> > opinion well worth the
> > dollars.
> > b) Its not designed for non computer literate users
> > but what u do gain
> > is amazing flexibility and speed unlike anything at
> > this price.
> > c) Its ability to get free ww sites and obtain
> > quotes is a saving if
> > yre system to trade tolerates the delay.
> > d) If u are a chartist and thats it then maybe its
> > over kill but if u
> > like systems then this is perfect in calculating al
> > lsorts of
> > parameters of the market other software has no hope
> > to obtain.
> > e) ie - did u know the average ATR% of NASDAQ is 4%
> > ? Amibroker works
> > this out daily for me :-) in 60 sec.
> > f) I used to use metastock and there is no
> > comparision to the power
> > this has .
> > g) WHERE TO START ----> The help TAB and basic
> > tutorials is really a
> > good place .
> > I suppose the first thing u want to do is
> > 1-- get yre data right and imnported
> > 2 -- learn about the markets , groups , watchlists
> > etc
> > 3) -- learn how to use drag and drop functions such
> > as moving average
> >
> > start there and see where u get
> >
> > :-)
> > MOZ
> >
> >
> >
> >
> >
> >
> > --- In amibroker@xxxxxxxxxxxxxxx, "traderjoe2003"
> > <traderjoe2003@xxxx>
> > wrote:
> > >
> > >
> > > Amibroker seems to be reasonable priced for what
> > I'd like to do. I
> > > checked out their site and they have the
> > automation in beta version.
> > > Being a newbie to programming (I have no clue),
> > what should I learn
> > > and where should I start.
> > >
> > > responses and suggestions much appreciated.
> > >
> > > Max.
> >
> >
> >
> >
>
>
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