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Re WL vs TS: Some minor correction is in order here...
>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.
However, when it comes down to trading, you want the trading
strategy you programmed to generate *signals* in real time.
Indicators become irrelevant when you need your software generate
the trading signals. Signal software runs independently of
displayed indicators; you don't need displayed indicators to trade,
if your signals already take them into account internally to the
code. All you need to see, then, are the entry and exit signals.
Now the kicker: The TS "update every tick" feature works ONLY with
indicators. There is no way to update every tick for signals.
>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)
No, all that means is that TS is useful for real-time display of
INDICATORS, and WLD is not. If you trade visually off indicators,
then I agree TS is probably best.
However, I would say that BOTH programs are useless for real-time
generation of trading signals. TS doesn't update a strategy
on every tick. I'm not familiar with WLD, but I'd say if WLD
doesn't update every tick on indicators, then it doesn't do so for
strategies either.
>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.
I understand WLD also has something that works with
InteractiveBroker's feed. Just something I've heard.
>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)
I'm beginning to think the same thing, although there are better and
more expensive software for EOD.
-A
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