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Hello Dan,
I don't think that you hijack this thread. Actually, I made the
proposal several years ago to Tomasz to create a link between AB and
databases like TC2000 and QP ( I think with AB 1.8 or so - don't
remember ).Others on the board supported this idea.
Coming back to your question - well I have yet to find a single
trading / investing software which can do all the tasks I do for my
trading.
Each product has it's advantages and disadvantages. I'll not give a
detailed review of both applications here. Let me say, I use both
since a couple of years - with some breaks for each one of them in
between due to my job constraints.
As I said already in my post ( or didn't I ? ) TA is very much
limited in QP / SPP ( which is a short version of the HGSI product )
and I use it primarily as a data provider. Also, the Charting module
in QP is far from userfriendly. Hence I made the proposal severalö
years ago, that Tomasz should create the ability for AB to read QP
data directly. My request to QP, to use AB charts directly when
calling a chart from the SPP Module was not considered up 'til now
though ;-)
Although I like the features in QP like the Data Warehouse ( SPP
now ) for setting up particular scans, possibilities are rather
limited to compare - say one parameter with another - in it's
screens.
Even Reuters stock-selector ( today called Power-Screener ) was
lightyears ahead of QP and for free when it comes to this point i.e.
- Well, one could try to do this in the QP scanning module ( so
called Advanced scans ) but being a lazy person, I like the Easy
scans in TC 2005 very much. With TC2K 4.2 version, they started to
offer the possibilty to use more spreadsheets (tabs) and to add more
PCF's as selection tools in the the header rows. So it was easy to
setup a couple of Buy / Sell criteria and see them right away after
the daily update in your desired easyscan stocklist.
Also, the way you can create use and sort individual indicators was
very much appreciated.
One drawback with TC2000 and 2005 is the very limited amount of
fundamental data ( more then most other quote providers offer, but
still no match for QP3 )
I made some good money with my TC scans and one should not change a
winning horse ( until it stops winning ) in the middle of a race. I
have coded some "Bread & Butter" strategies and easy scans in TC2000
and I'm simply to lazy to rewrite them all for AB.
The biggest advantage of TC is, that it runs all strategies PCF's
and easy scans during a singly update which takes only a few minutes
on my PC. In addition, I can update TC2005 during the markethoures (
20 minutes delayed data ) to scan for certain patterns which develop
during the day again for all scans, lists, PCF's etc.
- not possible with QP.
Finally - I rely heavily on my volatility based money-management for
positionsizing. Few people would belief what a difference proper
moneymanagement makes. Let me just say, that my positionsizing
algorithm can make a difference of 100% and more on the performance
of many trading systems - with much less drawdowns and , most of the
time, less than 50% of my trading capital employed ( at Risk ).
Read Van Tharp's "How to trade your way to financial freedom" and
you know what I mean. My MM aand Positionsizing code is a derivative
from his proposals / findings and I can tell you, since
These algorithms are coded in TC and with every stock I call up, I
see at once how many shares to buy, at which prefered entry-price
where to set my stops and where to set my profit targets.
This system is dynamic and changes with every new quote - hence I
can use it also for scaling in and out strategies, depening on the
volatilty of the underlying.
BTW = it has nothing to do with the ATR stop used in AB's
backtester, which unfortunately leads to disappointing results in
most backtests.
Hope you got the idea, why I still use TC2005 along with QP. Also I
must admit, the real Money-Makers have been my TC2000/5 scans /
signals for the last 3 years ( + Moneymanagement ! )
With QP, it's a love and hate affair :
I love their fast and friendly customer service and the fundamental
screening abilities of SPP also - making use of the HGSI ratios (
PSR,EGR and so forth ) also, their A/D indicators are quite
valuable. I make heavily use of the self definable combo ranking -
which is also dynamic and offers a lot of hidden power to finetune a
scanning strategy.
However - what I hate with QP are the limited TA possibilities, the
oldfashoined charting module, missing backtest of strategies.
One has to gain trust in his own setups by really trading the
results. I use IB as my broker and their low commissions make it
possible to test-trade certain strategies without putting to much
money on the table.
In a nutshell : I'm making money with my whole setup ( except with
Omnitrader because I never found the guts to simply trade it's
signals - although it had been right more often than I thought. )
So I don't change it lightheartily unless I would find a tool that
could combine all these possibilities for a still reasonable price -
Haven't found it yet, although VV and 123portfolio come a bit closer
now.
Sorry for the long reply. Hope it was still helpful.
regards and good trading
Stefan
--- In amibroker@xxxxxxxxxxxxxxx, "Dan Clark" <dan_public@xxxx>
wrote:
> Stefan,
>
>
>
> Not trying to hijack this thread, but I noticed that you use both
QP and
> TC2005. (I'm interested because I'm thinking of replacing TC2005
with QP.)
> Why have both? What benefits does TC2005 provide that QP does not?
>
>
>
> Thanks and regards,
>
>
>
> Dan.
>
>
>
> _____
>
> From: amibroker@xxxxxxxxxxxxxxx [mailto:amibroker@xxxxxxxxxxxxxxx]
On Behalf
> Of sgfuchs
> Sent: Wednesday, July 20, 2005 2:41 AM
> To: amibroker@xxxxxxxxxxxxxxx
> Subject: [amibroker] Re: Tomasz, GetExtraData() Array Question
>
>
>
> RJS
>
> AB provides a list of QP datafields which can be accessed via
> getextradata function - see helpfile "Getextradata" function.
>
> In order to retrieve "historical data" for these fields ( if
> provided
> by QP )you need to use also the "ref(Getextradata("XXXXX")"
function
> and to enter the days/periods for how long AB should look back in
> the QP database.
>
> EPSRank i.e. is available back to January 8th. 02
>
> I have created a fairly complex strategy / Exploration /
> Tradingsystem around the datafields available from QP which I can
> backtest in AB because there's no other way to check the validity
of
> stock selections performed in SPP based on fundamentals. However,
I
> needed to create a lot own "datafields" and ratios to be
calculated
> by AB in order to "simulate" rthe selection and ranking process in
> SPP/ HGSI. It seems, that this system works quite well in real
live
> trading. But the possibilities for backtesting are still very much
> limited due to the fact, that I cannot access certain QP
datafields
> in AB ( in particular the ranking values and A/D letter ranks )
>
> Hence I would second the proposal to include some more QP
> datafields - at least those, which one can already access also in
> Excel via the QP Excel plugin. For most other fields, I fear, they
> are calculated during each update and / or no historical figures
are
> kept.
>
> That's one of the drawbacks of QP / HGSI - backtesting of
> fundamental
> strategies or combined fundamental / technical strategies is
> impossible without 3rd. party software like AB - and even this
> combination is rather limited.
>
> I used Vectorvest Online including their ProTrader application for
a
> 5
> week trial because it allows a quite convenient backtesting of
> fundamental strategies because it stores historic fundamental
values
> and their ratings, partially back to 9 years. The software is very
> easy to use and very stable. However, TA is
> However - 60.- etxra a month + a 495.- USD one time fee for
> Pro-Trader
> in addition to my current data subscriptions is a bit too much for
> me.
> ( I use already AB, Omnitrader, QP and TC2005 )
>
> 123portfolio.com allows also portfolio level backtesting on more
> than
> 500 fundamental andf technical parameters, including a quite
> sophisticated ranking system for selection of trades. Several
users
> over there are very educated and experienced. Some of them have
> already posted their real live portfolio results vs. hteir
> backtesting
> strategies. At least from these documents, one can draw the
> conclusion, that this stuff works - and it has to, because it makes
> no
> sense to have a portfolio turnover of 500% a year with mediocre
> results.
>
> For what I can see, 123portfolio standard folio's outperform the
S+P
> by about 40% a year. Take this with a grain of salt - almost all
> strategies are small cap related and hence the SP 600 or RUT would
> be
> a more realistic comparison for perfomance.
> I compare those results with either small-cap mutual funds or the
> new
> Powershares ETF's ( i.e. PWO, PWC ) because they offer a
mechanical
> way to invest in a quantitative strategy without the hassel of a
> 500%
> portfolio turnover / year and no tax problems due to shortterm
> gains.
> Up 'til now, their performance is very impressive for Indexbased
> ETF's
> ( Intellidex Indexes ) see www.powershares.com
>
> regards
> Stefan
>
>
>
> --- In amibroker@xxxxxxxxxxxxxxx, "razorruss17" <rsebring@xxxx>
> wrote:
> > Please Help!
> >
> >
> > Gary over at Quotes-Plus told me on QP's message board that QP
> > database contains historical earnings and revenues data fields.
If
> > this is the case shouldn't we be able to use the GetExtraData()
> > command to extract array's beyond the QRS, and EPSRank arrays?
> There
> > seems to be a strong interest in many QP and Amibroker users to
be
> > able to accomplish this. What's the verdict, Tomasz? Anyone??
> >
> >
> > RJS (Russ)
>
>
>
>
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