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More than providing new charting features to a charting package such as the
ability to scale a chart with a user function, what really sets programs
apart from each other is their basic feature set. For Tradestation the
ability to develop and test custom trading systems and indicators was a
revolutionary basic feature that set it apart from other programs (and still
does for the most part).
For example there are lots of charting programs but many of these programs
do more than just charting. Below are some examples of varying degrees of
basic features that are included in many of the current charting apps:
1) Charting
2) Simple indicators / systems via formulas
3) Complex programming language with ability to write complex indicators /
systems.
4) Simple system optimization (one symbol many variables)
5) Complex system optimization / testing (multiple symbols, many variables)
6) Portfolio testing (I don't have a complete understaing of what this is
but I know some on the list do and it seems to be a large step beyond #5.
>From what I do understand though, this would be the ability to optimize and
test a system over a basket of securities and generate a single trade
history, equity curve and apply analysis to that single trade history (such
as the Sharpe ratio, MaxDD, etc.,) to evaluate against other systems and
other baskets of securities.).
7) Ability to interface with external DLLs.
Out of this subset of basic features, it seems to me that TS4 is made up of
#1, #3, #4, and #7. IMHO The major difference between SuperCharts and
Tradestation is that for #3, Supercharts lacks the PowerEditor so for
Supercharts it is a complex programming language with ability to only write
simple indicators / systems.
There are other basic features that are not on this list that could also
differentiate a trading program, and give traders an incentive to buy.
However, simply enhancing the basic charting feature with more or better
features probably isn't going to be enough to entice users to try the
program when there are so many existing free or well-established charting
apps on the market already, each with its own set of "cool" charting
features. So for me, the key seems to be in adding the right mix of basic
features to fill a set of distintive needs. Speed and reliability or
adequate customer service / technical support are necessary ingredients that
can only hurt sales / image if they are not present but generally people
won't buy your program simply because it is fast or doesn't crash or because
your program has great tech support. Once again, this is just one man's
opinion.
Patrick White
----- Original Message -----
From: "Mark Brown" <markbrown@xxxxxxxxxxxxx>
To: "OMEGA-LIST" <omega-list@xxxxxxxxxx>
Sent: Saturday, October 06, 2001 3:55 PM
Subject: Re: [JurikMA] BEST TRADING SOFTWARE
ps i would like to see some "set it apart from ts ideas" thrown
around. make it hard, make it impossible, what the hell. m
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