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----- Original Message -----
From: "Alex Matulich" <alex@xxxxxxxxxxxxxx>
> 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.
Right.
But two things:
explain, how will you ever be able to place a "market on close"
order if you desire to do so in your strategy. Orders in this case
will alway's take place on the open of the next bar.
That's what i use the updating indicators for. To anticipate in the
comming trade. All i need to do is press the button the moment
i see the signal.
If i wait for after the signal, i need to log in to my broker, place
the order (select the stock etc), press the transmit button.
This will cost time. Time most of the times costs money :-)
I want to have the order at the exact same price as my system
tells me it was traded. Transmitting it 30 seconds later will
introduce unneeded slippage.
> Now the kicker: The TS "update every tick" feature works ONLY with
> indicators. There is no way to update every tick for signals.
That for sure you would not want. That would get you in and out
inside a bar all the time. The updating indicators will only allow
you to prepare your orders. That's all.
> >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.
Exactly. But updating on every tick for strategies you realy don't want.
Then it might be that it would get you in and out a trade 20 times
an hour just because your indicators or strategy is exactly at a turning
point.
Updating indicators just help you to anticipate what is comming.
About real time generation of trading signals, i think that might be
an utopy if you would use market orders. Taking the orders will
alway's introduce lagg wich might hurt your system very bad (if
it would be short time intervals) Longer time intervals the slippage
will be of less concearn. (just my idea)
Greetings
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