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----- Original Message -----
From: <nix@xxxxxxxxxxxxxx>
> However, I would like some objective opinions on the general merits of
each
> compared to the other before I hand over my cash.
Difference #1 Price.
Wealth-Lab is a 1 time fee and a small fee for BIG upgrades
"tipicaly like $100" according to their website. (build updates are free)
Also that fee is much lower than a standard TS2000i (wich i use)
> I trade mostly interday and try to buy stocks just before the close based
on
> the usual moving average type indicators.
>
> What I am really looking for is a program which will let me place the
trade
> if the indicators cross, BUT before the last tick of the day !
>
> I know the indicators could "uncross" before the close, but if its close
> enough to the bell I figure this is not an issue.
>
> Will either program be suitable for this purpose ?
Funny you ask exactly this question :-) I had an argument with the
developers
of Wealth-Lab a few weeks ago about a feature simular to this. Lets start
with TradeStation.
It will show you the indicators updated in real time. Meaning, it can do
exactly what you want.
WealthLab Developer will not. It does not have a feature like in
tradestation
called "update every tick" for indicators. WLD only updates the indicators
when the bar is finished. Not any sooner. Meaning you have no way to know
in advance a signal is comming. (for me as a trader who trades in RT with
short timeframes it makes WLD useless for real time trading)
For your case it sounds like there are way's around it. You can for instance
set your trading hours untill 15:59 and you will see the buy signals for
wich
you will have 1 minute to place the orders. Unfortunatly, when updating your
data with EOD data it might be that a signal that occured in RT does not
occure with the EOD data you download. But as you say, that will also
be the case with TS because signals can turn around in the last minute.
another way is to program things like predicting at wich value an indicator
will cross. That way you will know wich price a symbol needs to trade at
so you know if the price is above or below and you know a signal is comming.
I am not a that good programmer and you sound to me like you are also
a beginner so that might just not be for you.
> What sort of datafeeds would I need ?
Another intresting point. Tradestation is standard not realy very
compatible.
It can only hook up to a few datafeeds. But, for TS there are many "addon"
programs who will help you with exactly that. This means that TS is
compatible
with any datafeed in the world. Wealthlab is not. Real time connections need
to be programmed and there are not many programmed yet. There are feeds
for Quote.com and E-signal but that's about it at the moment.
About your desicion, i would say TS is the choise because you "need" that
updating indicators. WLD has many good features wich TS does not have
but exactly this is one WLD does not have (and will not have in the near
future as the developers told me) Because of the price TS costs and you do
not seem to need many features i would widen my search a little. Some
simple crossings can be done with programs like AmiBroker or Metastock
or E-signal wich also has indicators. For backtesting TS or WLD is for me
by far the best choice (i use them both, TS for RT and WLD for EOD trading)
greetings
Greetings
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