I just purchased AmiBroker today after evaluating it for the last 3+ weeks. It appears to me that it will do everything, without exception, that I want it to do. Having said that, I think there are a three challenges that face me that others may be able to help with.
My first challenge is to develop a structure plan for the database. The second is to populate it, and the third is to maintain it. Since I am new to the program, I am hoping that some of you might respond with any "lessons learned". I have detailed my approach below so that folks can help me avoid potential pitfalls, if they are willing.
Objective
Obviously, the first question is "What do you want it to do?" My primary goals are to use Amibroker for back-testing systems and then implementing them. Additional details, in order of priority are:
1. To develop trading systems associated with stocks on AMEX, NASDAQ and NYSE;
2. To implement those systems on a daily and sometimes intra-daily basis via AmiBroker;
3. Eliminate unnecessary cost associated with data collection; and,
4. Automate data collection as much as possible.
Background
Often, it is difficult to answer someone's questions without knowing their capabilities, so here's another list:
- Moderate familiarity with programming (Jscript, Pascal, VB);
- Reasonably up-to-date hardware – multiple monitors, decent storage capability and processor;
- Up-to-date software (XP, Office);
- Trading software (Amibroker, QCollector, and trial versions of AmiQuote, PowerScan);
- Subscription to eSignal for data feed; and,
- Cable connectivity – up to T1.
Data Structure Approach:
I used the template developed by Rik Rasmussen in message # 107348. Many thanks to you Rik for saving me time! I will continue to customize the structure with additional categories, groups, sectors/industries. My thought is that it will be a requirement to run back-testing against collections of stock, as well as entire exchanges, so it is best to get it organized to the nth degree. From what I can tell, creating the structure isn't particularly time consuming – associating 1000's of stocks with that structure may be.
Again, Rik's help saved me a lot of work, but I still have a considerable number of stocks to add as well. It would seem that since stock classifications are part of data you can pull from Yahoo, there should be a way to automate this. If there is, I haven't found it. Ideas anyone?
Rik seems to imply that he developed a script to do this. Unfortunately he can't distribute because he did it for a customer. Has anyone seen similar scripts out there? As you can tell, I am not a big fan of
re-inventing the wheel.
Data Acquisition & Storage Strategy:
This is a tricky part for me. I have already gathered historical data on approximately 8000 stocks going back on some as far as 1990. I pulled this data (ASCII format) from eSignal using QCollector. The list of stocks came from the AmiBroker website. All information is on the local hard-drive.
I can import this information into AmiBroker using the Import Wizard, but of course then I would have to associate any stocks from my list with the various groups. I am hoping that someone has a solution for automatically doing this.
I wish that AmiBroker had these kind of lists compiled although I can understand the initial manpower required. Still, it would be a great jumpstart for folks and would allow them to get to work with the software much faster.
Once the two lists are merged, and all stocks are up to date, the next phase is maintenance.
Database Maintenance:
From what I read, it seems to me that I can use AmiQuote to keep everything updated. Is this true? My understanding is that it will pull EOD information from Yahoo. That of course raises a few questions.
- Since there seems to be a symbol difference (index symbols) between Yahoo and eSignal, will there be problems that I need to address now? Yahoo seems to be considerably less expensive as a data feed; and, while eSignal seems to have some great products, I'm really not sure it is worth the expense for my needs right now.
- If I decide on Yahoo as a data feed, using AmiQuote as a go-between, will that support my objectives? Since historical data has been gathered I anticipate my future need as EOD data and intra-day data. (No I don't want intra-day data on all stocks, just those on a watch list.) Am I missing anything here?
- It seems as if Yahoo has some limits on downloading of data. I can't recall exactly what I read, but it seems to me that 200 symbols at one time was a limit. If I want to automatically download EOD for 8000 stocks, will I have to do it in 200 symbol groups; or, perish the thought, individually?
- If for some reason I need to stay with eSignal to avoid problems from question #3, will I have to manually import the updated data each day to keep the database in AmiBroker current?
The bottom line here is that I want to spend the majority of my time working and systems and trading – not doing administrative tasks. If folks have a suggestion for the best "lash-up" that will support my goals, I'd really love to hear it.
Conclusion:
If you've read this far, I appreciate your determination – I know it was a novel! I felt it was important to lay it all out though so that you didn't waste time trying to guess what I might need. My hope is that your responses may answer some of the practical application questions that face others as they get started with AmiBroker.
Finally, if you're sitting on the fence about answering because of the number of questions, just pick one and go for it. Sooner or later I'll get suggestions on all. I wouldn't expect anyone to go through this piece by piece. Time is too valuable.
Thanks to all, I look forward to working with you on this forum in the future.
Ted