Best trading analysis software

[WayoftheTrader]

Hi all, this is my first time posting here.

I am after some advice on trading software that caters for the analytical trader these days that people have had first hand experience with.

Some of the features that I am particularly interested in are:

Charting - good charting
Trade System creation
Backtesting
Portfolio management
Real-time data feed - ASX market data for the time being


I am a reasonable experienced trader so not a complete newbie.

Apologies if there is already information on this topic already on another thread.

Thanks

 

[captain black]

Amibroker

http://www.amibroker.com/

 

[Gringotts Bank]

Amibroker is great. Fast. Does everything you need except portfolio management (it sort of does that but not very well).

 

[captain black]

Howard Bandy's Introduction to Amibroker book (PDF) can be downloaded here:

http://introductiontoamibroker.com/book.html

There's a fairly active Amibroker FAQ thread here on ASF:

https://www.aussiestockforums.com/forums/showthread.php?t=1679

There's quite a few data plugins, who are you planning to use for real-time ASX data?

 

[captain black]

Does everything you need except portfolio management (it sort of does that but not very well).

Yeh, for System development it's perfect. I use it for day-trading the Kospi and Dax as well as EOD ASX and US equity systems and find the charting brilliant, perhaps not ideal for a newbie but it's ability to be customised is excellent. As for Portfolio Management, well... stick to Excel or something like Stator

 

[WayoftheTrader]

I have heard of Amnibroker an oldie but a goodie I take it?

I will have a look at it but to get more specific can it handle:

Multi monitors
Multi workspaces
Any limitations on feeds

Others that I have heard some good things about:

Profit Source
Phoenix AI

I know I will eventually have to just dive in a find out which suits my needs (and budget) the best but I appreciate the prompt feedback.

 

[pixel]

http://www.d2mx.com.au/personal/trading/trading-software/

That's the latest release of the software I have been using for the past 12 years.
If you seek out a few of my charts, you'll get a fair impression of what it can do.

I'm sure it ticks all the boxes you've listed - except that I can't vouch for the Portfolio Management because I've developed my own system when nobody had the GST covered in July 2000.

 

[captain black]

I have heard of Amnibroker an oldie but a goodie I take it?

I will have a look at it but to get more specific can it handle:

Multi monitors
Multi workspaces
Any limitations on feeds

.

I run 2 instances of Amibroker across 5 monitors.
There are multiple tabbed workspaces with the ability to float windows across multiple monitors.
The 32-bit version has more data feed plugins developed than the 64-bit version. I use the Interactive Brokers plugin to feed futures data into the 64-bit version as well as the Metastock and Ascii data plugins for EOD data.

The link below gives a good outline of the various plugins and data feeds available:

http://www.amibroker.com/guide/h_quotes.html

 

[CanOz]

I use:

1.) Amibroker for EOD equity - systematic trading and charting - By far the best for EOD system development
2.) NinjaTrader for intra-day discretionary trading - IMO the best for intra-day trading with the ATM module, not the best for backtesting, IMO
3.) Multicharts for intra-day autotrading, backtesting intraday data - IMO the best for intra-day system development with fast backtesting, Easy Language compatible. Questionable mob running the show

NT is clumsy with workspaces and its resource intensive.
Multi-charts and Amibroker are good with workspaces, easy to switch, doesn't seem to work that hard on it either.
All handle multi monitors no worries.


CanOz

 

[trash]

I use:

1.) Amibroker for EOD equity - systematic trading and charting - By far the best for EOD system development
2.) NinjaTrader for intra-day discretionary trading - IMO the best for intra-day trading with the ATM module, not the best for backtesting, IMO
3.) Multicharts for intra-day autotrading, backtesting intraday data - IMO the best for intra-day system development with fast backtesting, Easy Language compatible. Questionable mob running the show

NT is clumsy with workspaces and its resource intensive.
Multi-charts and Amibroker are good with workspaces, easy to switch, doesn't seem to work that hard on it either.
All handle multi monitors no worries.


CanOz

Multicharts the best for intraday system developing with fast backtesting? Sorry, but I have to laugh! It's freagging slow. Also its possibilities are limited.

IMO there is no competition to Amibroker at EOD AND intra-day level.

 

[trash]

I have heard of Amnibroker an oldie but a goodie I take it?

I will have a look at it but to get more specific can it handle:

Multi monitors
Multi workspaces
Any limitations on feeds

Multi monitors - check
multi workspaces - check
Any limitations on feeds - no sure what feeds you are looking for. But in case it's not standard built in you still have opportunity to write own plugins since SDK is offered for free. There is also a 3rd party NET SDK for Amibroker.

One of Amibroker's strengths is that it's pretty flexible and endlessly customizable.

 

[CanOz]

Multicharts the best for intraday system developing with fast backtesting? Sorry, but I have to laugh! It's freagging slow. Also its possibilities are limited.

IMO there is no competition to Amibroker at EOD AND intra-day level.

So you've said before Trash. I've not used Amibroker for intraday testing for a few years. For me, multicharts was far easier to use, interfaced better with my broker, and had more open code around, thanks to tradestation.

Amibroker could well be the best application for this, I've used them both but perhaps I'm not as qualified as you to comment.

You seem pretty determined to make your point.

CanOz

 

[trash]

So you've said before Trash. I've not used Amibroker for intraday testing for a few years. For me, multicharts was far easier to use, interfaced better with my broker, and had more open code around, thanks to tradestation.

Amibroker could well be the best application for this, I've used them both but perhaps I'm not as qualified as you to comment.

You seem pretty determined to make your point.

CanOz

Nah, I'm not determined. It's just that MC is a pretty laughable software (IMO) coded by wannabes.
It's not easier to use also. I can't think of where this is the case. It just does all things slower which makes it more complicated because it steals time. And since it's less powerful it's useless (for me). It may be used for execution but then its price is too high for that.

 

[CanOz]

Nah, I'm not determined. It's just that MC is a pretty laughable software (IMO) coded by wannabes.
It's not easier to use also. I can't think of where this is the case. It just does all things slower which makes it more complicated because it steals time. And since it's less powerful it's useless (for me). It may be used for execution but then its price is too high for that.

Not determined...

Anyway, I think it would be valuable for others if you started a thread on amibroker vs ninjatrader vs multicharts. You seem quite familiar with at least amibroker and MC enough to give a technical review worth reading.

I know that NT is almost useless for intraday backtesting...MC worked fine with up to 7 years of SPI and DAX data tick data on my old Dual core machine....but I'm only a basic user.

CanOz

 

[trash]

Since every software provides demo test phases anyone can test by his own. I won't re-install MC. It's no fun. I just can tell my experience. For tradestation users it may be an option (but let's wait and see if and when MC drops support and continuation of their PL version since now they also have a C# version that is not compatible with latter one).

 

[WayoftheTrader]

What I meant by data feed limitations is the number of symbols you can look at in any one session. ie: if I wanted to scan the whole market for say ASX for simple criteria (Volume MA spikes) can I do that and if so is it expensive?

 

[captain black]

What I meant by data feed limitations is the number of symbols you can look at in any one session. ie: if I wanted to scan the whole market for say ASX for simple criteria (Volume MA spikes) can I do that and if so is it expensive?

Data costs depend on who you use for your data feed. That is independant of the cost for software.

 

[WayoftheTrader]

Roger that, in that case do you have any preference for one data vendor of any other.
I have heard of eSignal as an example but I have also heard that they drop the ball from time to time with accuracy of data, that is pretty important to me.

 

[captain black]

Roger that, in that case do you have any preference for one data vendor of any other.
I have heard of eSignal as an example but I have also heard that they drop the ball from time to time with accuracy of data, that is pretty important to me.

I don't use intraday ASX data so can't recommend any data provider. Interactive Brokers provide real time ASX data but it's not strictly speaking tick data as it's sent in "snapshots" rather than tick by tick. WebIress with a DDE link? I've seen these guys mentioned before:

http://www.iguana2.com.au/spark

I think tech/a uses ESignal from memory, haven't used it myself.

I'm sure there are more that others can recommend?

As far as EOD data, I use JustData, but if you're looking at using Amibroker then I can recommend Norgate PremiumData for it's scripts and integration into Amibroker. Both supply fully adjusted accurate data.

 

[trash]

@WayoftheTrader, do you need EOD or intra-day data? As for EOD Captain Black has already mentioned some options.

As for intra-day IQFeed may be an option. It's one of the best. Some say it's the best. Streaming data on 500 symbols for the basic fee. That limit can be increased by another 500 symbols but it's $50 added to the basic monthly fee. (BTW, Kinetick feed is the same as IQfeed, but you can only connect it to one of the worst and buggiest softwares around). Other than that Interactive Brokers feed is another option but they provide 5 seconds snapshots no tick data, but it's low-cost/free as long as you trade. They have a 100 symbols streaming limit but you can bump up your symbol limit by purchasing quote booster packages. So it's all about money again.

Long story short intra-day data is quite costly if you want quality and quantity plus exchange fees etc.