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Bob,
You say:
" Creating an application like TradeStation would require tens of man-years
of effort so it is unlikely that TradersStudio is even 5% of TradeStation."
I am sure you have seen my occasional postings here :). I could not care
less what people have to say but it still hurts if there is a lack of
acknowledgement that Wealth-Lab actually is a software that offers 90% of
what TS has and many features that TS does not have; features that I find
most important like portfolio backtesting.
You say:
" The idea of products like TradeStation was to allow you to create and
backtest your trading ideas before trying them with real money. If you think
you can do this without learning some programming you are fooling yourself."
I agree you need programming skill to accomplish complex systems but for
beginners the drag and drop system creation should be appealing (WL has it).
So here again TS is actually limited in testing ideas. How do you loop thru
a list of symbols in TS? How do you test the following simple system:
Buy the five stocks out of a portfolio of 500 stocks, that dropped the
highest percentage below their 200 SMA. Of course you only want to buy these
stocks and if another stock dropped by a higher margin then exit the stock
that is closest to the 200 SMA and buy the one that fulfilled the criteria.
That is what I call system testing. :)
Regards,
Volker Knapp
(www.wealth-lab.com)
-----Original Message-----
From: Bob Fulks [mailto:bfulks@xxxxxxxxxxxx]
Sent: Monday, January 17, 2005 6:13 PM
To: omega-list@xxxxxxxxxx
Subject: Re: TradersStudio?
At 11:11 PM 1/16/2005, you wrote:
>Has anyone tried or knows anything about TradersStudio?
>If it works and is even just equal to TradeStation, I would think they
would have a big market as long as TradeStation codes can really be used and
the charting and system testing is good and they keep it updated at a
reasonable cost and don't change something in the updates so what you have
now will not work without some extra programming.
Creating an application like TradeStation would require tens of man-years of
effort so it is unlikely that TradersStudio is even 5% of TradeStation. Of
course, if that is the 5% you like and use, you might find it to be OK.
>That is one thing I never understood about TradeStation.. They marketed it
to the newbie and made upgrades as if all users were programmers and enjoyed
programming for fun ...
The idea of products like TradeStation was to allow you to create and
backtest your trading ideas before trying them with real money. If you think
you can do this without learning some programming you are fooling yourself.
>...and left some users stranded on some products.
Software is not a "product" like a TV set. It is a "service" that requires
continuous updates and support that you should expect to pay for. You are
only "stranded" if you choose not to upgrade. It is your fault, not theirs.
All software requires upgrades from time to time as the operating systems
and data formats change. It is surprising that old versions such as TS4 and
TS2000i still work at all on current OS versions. How anybody can expect to
be using the same software version year after year without installing
upgrades is beyond me. Would you still be using the 1999 version of your
virus checking software?
And the features of the newer versions are much, much better than the old
versions. Occasionally, I have to fire up TS2000i to look at some old data
and find that it sure seems obsolete by TS8 standards...
>There are many who still use the stand alone TradeStation and probably
would never go to the brokerage system.
You do not have to use the TradeStation brokerage to use TradeStation 8.
Bob Fulks
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