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here is the second follow-up on the new TS.com
i checked it out today and here are the results.
pros:
- data access is quick ( i am in Florida, close to them )
- data is fairly clean, looks like they do take care of the bad
ticks... BUT some of the late trades ( i checked dirty stocks
like csco and msft on 1 min ) are still there... but all the
big spikes are gone... so i figured about 70% of bad ticks
are cleaned out *** this is major... major accomplishment
if you trade systems real time***
- news are nicely organized
that's what my eye caught as far as positive things...
now...
the cons:
- first this that is very annoying is that all windows ( charts
quotes, power editor, news ) can not
be moved from the TS main parent window/container...
THIS IS A MAJOR drawback as far as managing real
estate on the screen... OMEGA... people told you to
make tradestaion as a floating toolbar and let people
save their own layouts... can't you guys get it???
if i have 4 monitors i have to blow up your TS on all
four... do you get the message???
- no BID OR ASK data available for stocks and i could
not find anyway to plot that.... big... big minus....
OMEGA you are behind on that already...
a lot of people use bid ask data...
- time of sales are not filtered out based on hits or
takes and trades can not be colored based on
"trades at bid", "trades at ask", "trades inside" or
"trades outside" - BIG drag for those who analyze
time of sales.... OMEGA again you are not up to the
standard here...
- big surprise for me was the fact that there is no
stocks scanner in there like Radar Screen... just
a simple ranking quote screen that has very basic ranker
on there like highest% gainers, highest volume...
that's it.... i was frustrated because i expected at
least something like a radarscreen or some sort of a
real time scanner...
the rest is pretty similar to other L2 packages, but
L2 itself is not available...
overall opinion:
for $99 bucks it's a good deal if:
- you don't need futures
- if you don't need bid and ask.
- if you don't care about L2
- if you don't want to collect data...
basically this new tradestation.com becomes
and equivalent of tradestation 4.0 for stocks only...
L1 quotes, charts, data on demand,
semi clean data...AND the main thing which is system
capability...
so in that respect $99 bucks is an ok deal...
the difference is that you don't have to maintain
your data and you get data on demand on all equities.
if you need something more than
clean stock price data on demand + system capability
then we have to wait till L2, futures, options, bid ask data,
scanner and other necessities...
so this $99 dollar deal is a formidable alternative to
something like e-signal or pc quote where you shell out
$XXX for up to 500 stocks whereas here you
get all stocks ( semi clean data ) for $99.
a friend of mine used e-signal paying about $90 bucks
for 50 stocks. he switched 1 hour after i told him about
tradestation $99 for unlimited stock charts...
the rational is obvious. more bang for your buck...
i will however hang on to my ProSuite for now until
i get L2, futures, bid ask data, an intraday scanner,
custom layouts, floating windows, and all bugs taken care off.
( caught one bug already ).
bilo.
ps. i will comment more as i learn more about it.
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