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Minor observation regarding Wealth Lab upgrade prices:
The 'small' upgrade cost should be more carefully defined.
I purchased WLD1 for full price, just prior to release of version
2. At the time, Wealth Lab advertised that upgrades will be
'discounted' for those who buy a full priced version 1. I
skipped version 2, but now I would like to purchase WLD3. (WLD3
is soon to be released.)
Price of upgrade? Upgrade is NOT AVAILABLE.
I've been advised to 'just go ahead and purchase another
license'. All of this happened in the span of little over one
year. Very annoying!
Also, if the next version of WLD3 is CPU locked, anyone with
multiple machines could end up spending a fair bit. Compare this
to TS2K with good forever passwords. I can install it on my
backup machine, on a machine at my parent's house, my laptop,
etc. So the actual cost of may be about equal, perhaps in some
circumstances, TS be less expensive.
Leslie
trader@xxxxxxxxxxxx wrote:
>
> ----- 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
--
Regards,
Leslie Walko
610-688-2442
--
"Life is a tragedy for those who feel, a comedy for those who
think"
Horace Walpole, 4th earl of Orford, in a letter dated about 1770
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