|
PureBytes Links
Trading Reference Links
|
Let me give some practical thoughts on NT system development of someone who
uses it for about half a year.
When you migrate from TS to NT first you'll be kind of limited on how system
design works.
usually you pick a chart and add your set of rules to it, test different
parameters (what is called optimization), analyze your performance summary
(of which most figures do only have some theoretical aspect (ROA) ). Except
for "optimization" this can all be done via NT.
With the help of different features in NT I created the possibility to test
my systems on a contract by contract basis, including rollovers and
roll-over costs, with all the statistics of the systems.
The next step is to take a single system to a portfolio level, where e.g.
position sizing depends on the overall portfolio risk, or another way to go,
select stocks on user defined criteria on which the system should apply. Due
to the open programming environment (ActiveX) there are almost no limits.
You're right, parameter testing might be a feature that is missing so far
but my system development process changed from an approach that is
endangered by curve-fitting to a more general and portfolio based one - why
not reduce risk of sub-optimal paramter setting by more diversification ?
And whenever you need some testing of different paramters this can easily be
done with the scanning feature.
I don't want to persuade you from this product (which would be the wrong
place here) just wanted to show you that after years of using the same
development environment (which I still do btw) some different approach might
show you some new ways to achieve your goals.
Regards,
Michael
No affiliation with the company, just a happy customer .....
-----Ursprungliche Nachricht-----
Von: Gary Fritz [mailto:fritz@xxxxxxxx]
Gesendet: Montag, 29. April 2002 17:51
An: Lawrence Chan
Cc: omega-list@xxxxxxxxxx
Betreff: Re: neoticker compared to TS
I thought this would be of interest to others on the list. If it's
too NeoTicker-oriented, I'll take it off list.
> NeoTicker took a path drastically different from how TS works ...
> as oppose to many attempts that tries to become TS clone.
Lawrence, I think a significant number of the people on this list are
interested in system development & trading, and I suspect many of
them would be interested in finding a good replacement for
TradeStation.
It appears to me that you are doing Good Things with NeoTicker, but I
have to confess I don't understand what they are. :-) I've seen
your brief descriptions here, and I've wandered through your website
a number of times, and I'm still confused.
Could you explain your model a bit more? What type of trading
(systematic, discretionary, scanner-based, etc) does NT support best?
> Most obvious difference is that NeoTicker does not have an
> explicit option to do system optimization.
> So you will not find many on this list using NeoTicker :)
Your website says you support system trading. Are you saying you can
write, test, and execute systems, but you just can't iterate through
ranges of input parameters?
Presumably someone (you if no one else) uses NeoTicker for system
development. Can you explain how one uses it? What type of
development methodology do you use to build systems without any kind
of parameter searches? (Or do you just do it "by hand" in your
system code?) What kind of development process does NeoTicker
support? In the system-trading world, what does NeoTicker do that TS
doesn't? What does TS support that NT doesn't?
I freely admit to being stuck in a TS-centric thought pattern, since
that's where I've done nearly all my system development. Please
educate me on what NeoTicker does and how/why it's better.
> NeoTicker's focus is true automation of the analysis in real-time.
> Thus its power is in the integration of the windows
> (e.g. send the symbols in a quote page into a scanner,
> send a symbol from a chart to another one, etc.) and its ability
> to summarize information on screen (quote window formulas).
I don't see the power of sending a symbol from a quote page to a
scanner. This sounds like a scanner that scans a list of symbols,
which is hardly revolutionary. Am I missing something?
Gary
|