|
PureBytes Links
Trading Reference Links
|
these are good points.
i too don't think that tradestation pro can not survive if they
don't provide *a real time scanner on say up to 1000 symbols similar
to INSIGHT scanner. if you take insight concept and
superimpose is on tradestation pro you will get a better product
than insight since insight is way complicated to use and is limited
in it's alert generation capabilities, does not have historical testing,
etc...
i have seen traders make a lot of money with Insight but...
as far as Real Tick vs Tradestation pro, to me tradestation is far more
valuable because non of those L2 products offer the capability of
developing simple to medium complexity trading systems like tradestation
does.
remember one thing...
trading is gradually evolving towards fully systematic trading...
this is the evolution of trading business. you might not see it
because it's just starting to happen on individual traders level but
on higher levels like market making and serious money management
it's already happened and is ever evolving...
machines are making markets now in equities, electronic futures and
even options. quasi market making system using learning algorithms and
short term predictions have been in use for a decade now...
those firms that develop those systems employ up to 100 programmers
and financial engineers to develop such systems and having large amounts
of money available for R&D. the reason why you don't hear about it
is because those projects are as secret as most government black hole
projects for obvious reasons.
the more capitalized and profitable the trading firm is the more systematic
a
nd technologically advanced it is, these days.
***the good thing is that right now we are still at the very beginning
of this evolution process. we can compete with large firms like that
- because technology is relatively cheap now
- because we are at an early stage in this evolution process
- some individual traders can combine their
brain power and come up with some good stuff ( rarely happens
due to not understanding the necessity of the above and due
to competitiveness on individual levels ).
- and more importantly advanced technology does not automatically
guarantee more profits and you have to have sharp mind too...
since price movement is becoming more and more volatile and faster,
trading will evolve with it to the point where only those who have
access to advanced technology coupled with high iq will be able to
survive and thrive... ( large trading firms or smart individual/
small groups of traders )
every trader out there is on a certain level of evolution:
- there are newbies that have no idea what they are doing
- there are broker traders that still call broker to place an order
- there are those who trade on the web based firms like e-trade
that will take 1000 dollars to open and account
- there are those who trade on semi pro platforms like real tick.
- there are those who use Insight type technology to improve
their trading ( semi systematic approach )
- there are those who use tradestation for fully systematic approach
- there are those who develop their own proprietary trading platforms...
- there are those who already went through all of the above steps and
make money consistently.
usually as you get more technologically advanced, more money you
make...
and every one has different money level too...
markets are evolving every trading second and software has to
evolve and traders have to evolve with it... else you will be left
behind...
same goes for Tradestation pro... if they don't evolve, they will
not survive this race...
at this stage they do look kind of weak and the natural thing in this
game is when someone's weak then go for the kill . that's why you see mostly
negative
comments about tradestation and omega...
simply speaking they have not been able to stay ahead in the race...
bilo.
ps. i presently give them 50/50 chance of surviving within next 3-5 years.
the best thing for them to do now is to find some deep pocket sponsor
such as what happened when cybercorp got bot out by shwab.
i am a semi happy user of 4.0, 2000i, pro... i have used insight, cybercorp,
real tick and other popular equities platforms and i still think
tradestation has
the MOST POTENTIAL due to their system capability.
----- Original Message -----
From: Chad <canutek@xxxxxxxx>
To: <stiglich@xxxxxxxxxxx>; <omega-list@xxxxxxxxxx>
Sent: Sunday, February 11, 2001 7:52 AM
Subject: Re: Advice on TradeStation Pro (OnLine)
> My trazding method is changing. I've become less systems oriented and
more
> discretionary. Using realtime scans of the stock universe to help
determine
> momentum plays/and "quickly developing" situations. One of the reasons
for
> the change is trading is my 100% avocation now. I don't know how long
this
> will last but it's profitable now.
>
> Speaking of profits Pro Suite or TS pro do not have a canned real time
> profit reporting, summary component ( no on-the-fly reporting...you need
> formal strategy entry technique). Real Tic III does...along with real
time
> order entry. They also have real time options..TS pro doesn't (they say
> they will in the future but.....)
>
> Big deal is RT III, is broker affiliated fo that you can get REAL TIME
> EQUITY,INDEX,AND OPTION QUOTES FOR FREE (with a minimum no. of trades/mo
> (in small print here))
>
> Still I miss the easy (canned) realtime alerts on trendlines and
indicators
> of TS Pro.
>
> See attached for my other comments on TS Pro .
>
> By the way I am still subscribed to TS Pro/PC quote(for the sometimes
active
> ProSuite module) and have not permanently moved to RT III yet, but,I will.
> I'm in transition now and will miss the Option Station package now that it
> finally works. Will also miss how my hands can fly over the OR scene and
> will work through the (for now) hunt and peck RT III learning curve.
>
> Good Luck
>
> Chad
> ----- Original Message -----
> From: "George Stiglich" <stiglich@xxxxxxxxxxx>
> To: <omega-list@xxxxxxxxxx>
> Sent: Friday, February 09, 2001 5:23 PM
> Subject: Advice on TradeStation Pro (OnLine)
>
>
> > Looking for advice on switching to TS Pro, the new online product from
> > Omega.
> >
> > I am sure there has been lot's of posting in the past, but I just found
> > this valuable posting site and would benefit (and appreciate) from your
> > experience.
> >
> > I have been using TS2000i for two years and mostly focus on EOD with
> > extensive system development and testing. Would like to sometimes use
> > intra-day trading, with my own indicators/systems. Is TS Pro a good
> > product/service? Are users happy? What have been the problems? Is it a
> real
> > replacement for pro Suite & TS2000i.
> >
> > In advance . . . Thanks
> >
> >
> > George Stiglich
> > Dallas, TX)
> >
>
|