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RB,
I think the auto analogy is a poor one, unless you're willing to admit that
instead a car, you're riding a bicycle.
There is a market for traders and firms that demand much more than offered
by TradeStation (the GM equivalent). Where is the interchangeable,
integrated portfolio management? Where is the interchangeable, integrated
position sizing? Where is the interchangeable, integrated, cross-portfolio
risk management? Can I do deep, multi-market quantitative analysis? Can I
intermix multiple, dissimilar data sources and vendors? Does it route my
trades into an accounting system? Does it do trade aggregation and
separation for unitized accounting? Can I automatically route orders to the
broker of my choice? And on, and on, and on ...
While there are a number of after-market bolt-ons for TradeStation, the
level of integration is often clumsy. The whole PushPop or global-access
DLL route is an example of trying to work around platform limitations. At a
certain point, it makes sense to examine alternatives.
Excellent traders wield an edge. There is a whole market catering to
traders who seek and create an edge using advanced tools. There are also
trading firms that demand more out of a trading engine. For all these
traders, most of the popular trading packages just don't cut it.
Actually, I'm very encouraged by the recent direction in trading platforms.
WealthLab starts to incorporate many of the items I mentioned above, and
VeriTrader 2.0 looks to be a very exciting product as well.
Still, there's nothing like having a custom tool set that can actually do
what I need :-)
Cheers,
Kevin
ps. This is NOT an endorsement for QuantStudio, only a consideration for
QS-like tools.
At 03:37 PM 2/27/2004 -0800, you wrote:
Date: Fri, 27 Feb 2004 18:34:35 -0800
From: "RB" <rhodes@xxxxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Subject: Re: Re[5]: QuantStudio demo available
Message-ID: <009701c3fda3$6955c0b0$482d730a@xxxxxxxxxxxxxx>
Content-Type: text/plain;
charset="iso-8859-1"
Content-Transfer-Encoding: 7bit
Why put a company in that position?
Nobody would build a car that they use everyday from parts! Everybody will
buy a car ready to go.
Having and selling parts is big bussiness if you have parts to fit Fords,
GM, Dodge, Toyota, Honda etc. But having and selling parts to fit nothing,
or something you have to build in the first place, seems to be a very poor
bussiness model.
If a company wants to sell trading parts? Why not sell parts that fut and
go with all the trading software that is now available and used everyday?
Why sell parts for something, that you have to build yourself? May be OK
and you may end up with a great trading package that everyone will want. It
just seems that it is the wrong model and way to get things that most
traders will want and use.
In other words. I ain't going to build no car from nothing with parts.
And if you look around, you won't find many cars built that way.
Maybe, you were explaining your trading software wrong with the building it
with parts email. At least I hope so.
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