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In this posting I will report the first of two groups of questions and
answers along with my comments.
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Question #1 from JH:
TS Pro must provide for access to external data formats (e.g., Metastock)
for data they do not now include (new highs/new lows, advancing volume
declining volume).
Answer from Bill Cruz: In an upcoming version of TS Pro, the user will be
able to create his own symbols and import his own ASCII data. No other
external data formats are planned for at this time.
Comment from James Lillard to the News Group: Until this feature has been
added to TS Pro, I cannot use the software. I need to have full control
over both the historical data (I construct my own historical bars from
filtered raw tick data), as well as full control over the real time input
data stream. After all GIGO, can cost me a lot of money. Therefore I need
to be able to manually update my own historical data that I can use for my
real time signals as well as my back testing. I like the fact that TRAD
will manage the RAW tick data for me, but they must also allow me to
preprocess this data before I use it. Will TS Pro have an EXPORT function
so that I can massage and repackage the historical tick data and then IMPORT
the synthetic price bar data back into TS Pro under my own symbol?
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Question #2 from JH:
TS Pro must provide some way to override their data errors (e.g., ITWO and
BRCD show erroneous splits for nearly a week and they haven't been able to
fix it yet -- unprofessional.)
Answer from Bill Cruz: In an up coming version of TS Pro, the user will be
able to correct the bad prints that come from the exchanges as well as make
other changes to the data on the user's computer. The user will also be
able to call a 1-800 number and talk to the TRAD Data Group and report any
errors that they find, and after conformation by the Data Group, the data
will be corrected for all of the users.
Comment from James Lillard to the News Group: I am a futures trader and I
always have to guard against the "Bad Print" or the actual isolated "Crazy
Trade" that will result in an unwanted signal being generated by system.
What worries me is the possibility that a future release of TS Pro will have
an automatic bad print filter. I really do not know of any fool proof
filter that will work all of the time for everyone. I hope that TS Pro will
allow me to write my own dynamic "Bad Print" and "Crazy Trade" filter for
the real time data stream as well as for the historical data that I need for
real time computer trading. I will have a lot more to say about this
subject in a future posting.
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Question #3 from JH:
TS Pro must provide simple radarscreen functionality. There is no way to
use any EL with price sheets.
Answer from Bill Cruz: In an up coming version of TS Pro, the features of
RadarScreen and OptionStation will be implemented.
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Question #4 from GP:
When will they have more **intraday** data (any interval) back beyond the
current limit of Nov. 2000?
Answer from Bill Cruz: The historical data for TradeStation Pro comes from
a different database and the HistoryBank.com intraday data is not used.
Currently, for TS Pro, I think the tick data begins in February 2001, but I
am not really sure. I am trying to get more historical tick data added to
the TS Pro database. I am not sure at this time how far back the tick data
will eventually go.
Comment from James Lillard to the News Group: For my own trading, I would
like to see a minimum of TWO years of Tick Data. I filter and construct my
own price bars for different time periods and I really like to have a
minimum of two years of raw tick data. More would be even better, but if I
have the ability to add ASCII data, then I can Import the additional
historical data that I need for my studies and back testing.
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Question #5 from GP:
How far back will the Futures **intraday** data go at launch? Especially
S&P, Naz, etc.
Answer from Bill Cruz: For the June 27, 2001 launch tick data will only date
back to about February 2001.
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Question #6 from GP:
MOST IMPORTANT: How will the order entry system on equities handle
"shorts"? The best equity trading platform currently is MBT Navigator,
which let's you enter a price to "short", and the system handles the uptick
rule... you just set the limits beyond which you'll skip the order... if TS
Pro can't handle this, then it cannot be left unattended, which makes it
useless!
Answer from Bill Cruz: TS Pro will be able to hand the uptick rule for the
short trading of equities, and this feature is in the current release.
While TRAD does not advocate unattended operation, once the short market
order has been placed, the system will wait for an uptick and then the order
will be automatically executed.
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This is the end of this posting.
I will be very busy for the next several and I will be out of town this
weekend, so it will probably be next week before my next posting.
More to come.
James Lillard
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