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It occurred to me around 5 minutes after sending the last posting that it may
have been confusing on a point. Let me summarize:
If you an end of day trader who researches trading systems and trades from
daily open, high, low, close price data, PowerST is a complete software
solution. It provides system testing, daily trade signals, plus the money
management features I was bragging about in the last posting.
If your trading system research and trading requires intraday data, your only
potential use for the current version of PowerST is as a money management
add-on to TradeStation (or any other intraday software which can export a
list of trades). For intra-day traders, PowerST is not a replacement for
TradeStation. Never claimed to be. The article I was responding to in my last
post compared PowerST for intraday traders to the Rina money manager product.
>From a "type of software" perspective that is an accurate comparison. The are
both money management add-ons. However, the last posting discussed my
understand of the differences in **features** between the Rina product and
PowerST.
That is it. The above is the summary. Below is some additional discussion.
In the future, PowerST is expected to support testing against intraday data.
When that happens, some PowerST users might find that since they no longer
need advanced system testing capability in their charting software, they will
have more choices in charting software. But since PowerST does not currently
support intraday day, I am confusing the issue by talking about this, so I
won't talk about it anymore.
By the way, it was a decision to go into controlled introduction before
adding support for intra data. The reasoning is that the desire is to add new
users slowly anyway. The marketplace of end of day traders, or intra day
traders interested in a high end money management add-on, is some percentage
of the marketplace (and it is hard for me to even guess what that percentage
is). PowerST is initially going after that percentage of the marketplace. As
things progress, it is expected that support for intraday data will be added
to PowerST, which will hopefully expand the potential marketplace for the
product.
To be complete, let me mention that there are also other more exotic
combination possibilities. For example, take a simple S&P day trading system
which enters on a breakout of the open, then exits either on a stop or on the
close. Intraday data is necessary to historically test this systems, but the
day to day orders can be generated from daily data. I provided software for a
system like this once, years ago. People seemed happy that the software would
calculate their daily trading orders from daily data, even though the
software couldn't do historical testing. This was in the days before PowerST
supported money management. Now with money management, the potential of
wanting to program trade signals for a system of this type using daily data
increases. The reason is because as well as daily trade signals, this can
lead to automatic generation of money management determined position sizes.
Furthermore, the PowerST "Trades Accounting" feature can be used to track
actual trades so that portfolio equity can calculated, which is necessary for
calculating ongoing position sizes. On the other hand, the Trades Accounting
feature can be used even if the underlying system is not programmed into
PowerST. If this paragraph is confusing (and it probably is to most people
reading it), don't worry about it. This is a "money management thing". For an
intra-day trader, the first decision is whether they are interested in
PowerST as a money management add-on. If the answer is yes, then the issues
in this paragraph can be discussed one on one based upon the particular
customers exact interests.
It all depends on your style of trading.
I hope this helps to clarify my last posting.
Bob Bolotin
RDB Computing, Inc.
Developer of "PowerST: The Power System Tester"
www.powertesting.com
info@xxxxxxxxxxxxxxxx
847-982-1910
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