|
PureBytes Links
Trading Reference Links
|
There are several real time software alternatives to TradeStation 6 or
2000i.
1. If you don't mind paying high trade commissions, having unreliable and
slow data feeds during peak periods, and arrogant support, then RealTick has
the best charting and studies by a now-slim margin over two other packages
mentioned below, and acceptable (if sometimes buggy) order execution
functionality. www.realtick.com
2. If you want a package that is just about equal to RealTick in charting
and studies, that is about equal to EL with its own language, and that has
excellent real time scanning capabilities, try TickQuest's NeoTicker. It
does not have any order execution functionality, and as far as I know does
not integrate with any broker's account management software. But it is a
killer charting, studies and scanning tool, in real time. Works with at
least a couple different real time data feeds. www.tickquest.com
3. Investor/RT from Linnsoft is about equal to NeoTicker. Same deal, no
order execution. www.linnsoft.com
4. ProTrader's gr8trader is probably the best order execution software.
Its charting and studies and scanning are not the best (I don't like them at
all). Commissions can be low if you trade enough. www.protrader.com
5. NexTrend's Analysis for charting and studies, plus Nextrend's EDAT order
execution system, along with NexTrend's outstanding data feed (best
reliability and speed of any real time software over the Internet) - EDAT
will be outstanding once debugged and once some brokers offer it....its
functionality in some ways is better than gr8trader...but it is not
compatible with ZoneAlarmPro firewall, and possibly not with some other
firewalls. Analysis is ok but not the equal of Investor/RT, RealTick or
NeoTicker, for charting and studies. www.nextrend.com
6. If you can accept its trading method and poor charting, Spectre IV has a
cool Level II and T&S, plus a test mode with which you can simulate live
trading in real time in real market conditions....forward test, in other
words, within it limited studies and charting. www.sl4trader.com
7. Ensign Software has some interesting cycle tools that no other package
has. But it seems to be an older package. www.ensignsoftware.com
8. NeoVest's First Alert is probably the best real time scanning tool. But
its price is horribly high especially considering that it does not include a
data feed in its high monthly lease price. www.neovest.com
9. Advanced Get, especially if you are a member of the Gann or Elliott
religions. www.advancedget.com.
FYI, I've tested over 80 trading software packages over the past two years.
I like RealTick the best but cannot abide its arrogance, cannot trade with
its unreliable, undependable,.slow peak period data feeds, and its high
commissions and costs.
If TickQuest or Investor/RT had integrated order execution with good
functionality, and integration with brokerage account management, then they
would be the best. NexTrend could also become the best, but has a ways to
go yet.
For now, I use TradeStation because of the low commission costs and
comparatively moderate TradeStation costs, and impatiently accept its
glaring deficiencies while awaiting improvements. Now that Bear Sterns owns
TSS and TS, tool, I expect Bear Sterns to significantly improve the aged TS
over the next 24 months.
<sigh> No holy grail automated mechanical system exists nor will ever exist
and <bigger sigh> no totally perfect trading software + data feed exists
yet.
Vince Heiker
Flower Mound, Texas
---
|