Software reviews

[tech/a]

I've been asked quite a few times about software i use and how I find it.

Thought Id start a thread on software and review that which I have and give me somewhere to see what others have and how they find it.

(1) Metastock
Good general technical software with search capability and limited systems testing---now has a superior competitor in Amibroker---my next investment!

(2) Tradesim
Serious systems testing software.Can be coupled with Metastock and Amibroker as well as others. Sound Monte Carlo testing capability.

(3) Advanced Get EOD
Probably the most advanced software of its kind (Elliott Wave based).
Good search capability,excellent drawing pack.Has in built trading methodology.

(4) Tradeguider both EOD and R/T.
The best I know of for VSA
Good seach capability with improvements in the latest edition.

Happy to answer specific questions.
Will say that like most owners of software I havent utilized all of the features that they supply.Particularly AGET.

 

[It's Snake Pliskin]

Tech you have a lot of software.

Is tradesim overly expensive for its features and ease of use? A cost benefit analysis score out of 10 would be....? (in your opinion or others)

 

[Trembling Hand]

Good idea Tech. I will jump in with my fav.

Ninja Trader. FREE, clean, simple yet stacked with features.

It is free if you don't need it for trade executions. You get great charts, back testing, tick & EOD data collection, replay, best free sim I have seen, Q's answer quickly via their feedback forum, and stacks more stuff I don't use like Auto trading, customized indicators etc.

Two things I really like for a day trader are 1. The day replay showing your trade entries and exits.

And 2 record keeping of trade metrics, MAE, MFE, % win, drawdown and on and on. Love it (sometimes, the truth can hurt )

 

[Pigsy]

Good idea Tech. I will jump in with my fav.

Ninja Trader. FREE, clean, simple yet stacked with features.

Never heard of it. Is there free ASX data for it? Or is there a way to import eTrade Pro data?

 

[Trembling Hand]

Never heard of it. Is there free ASX data for it? Or is there a way to import eTrade Pro data?

Nope the standard retail brokers will give you nothing. You need a real broker like IB or MB Trading. Patsystems or Trading Technologies interface. Thats the cheapest way.

Or you can feed it with esignal. have a look here,

http://www.ninjatrader.com/webnew/trading_software_brokers_data.htm

 

[tech/a]

Tech you have a lot of software.

Is tradesim overly expensive for its features and ease of use? A cost benefit analysis score out of 10 would be....? (in your opinion or others)

Snake

I'm a product of the Baby Boomers.
When it comes to computer literacy,I'm pretty well self taught which puts my skill level at woeful. Frustrating as hell---I'm envious of those who see it as plain as talking in their native tongue.

Ive chosen software (Other than Metastock as its the first I had) for its visual and ease of operation capabilities.
Its support and compatability of analysis I value.
If there was a good Market Profile software Id definately have that!

Anyway Price has been the least important as I look at any of these purchases as a cost of doing business.
Amibroker is next.

I need something that is easy to use,doesnt need to be second guessed---its there or not.
Frankly I'm certain I UNDER UTILISE every piece of software I have due to my poor skill level--lack of time to fully educate myself and a desire to have a life!

Tradesim.
Expensive---thats a quant thing.
To me its paid for itself 100s of times over. I traded systems designed using it during the great bull run so did very well thanks.
I'm excited about coupling it with amibroker.

 

[It's Snake Pliskin]

Snake

I'm a product of the Baby Boomers.
When it comes to computer literacy,I'm pretty well self taught which puts my skill level at woeful. Frustrating as hell---I'm envious of those who see it as plain as talking in their native tongue.

Ive chosen software (Other than Metastock as its the first I had) for its visual and ease of operation capabilities.
Its support and compatability of analysis I value.
If there was a good Market Profile software Id definately have that!

Anyway Price has been the least important as I look at any of these purchases as a cost of doing business.
Amibroker is next.

I need something that is easy to use,doesnt need to be second guessed---its there or not.
Frankly I'm certain I UNDER UTILISE every piece of software I have due to my poor skill level--lack of time to fully educate myself and a desire to have a life!

Tradesim.
Expensive---thats a quant thing.
To me its paid for itself 100s of times over. I traded systems designed using it during the great bull run so did very well thanks.
I'm excited about coupling it with amibroker.

No worries, I may need a Monte Carlo ability.

 

[weird]

Tradesim == good.

 

[Nashezz]

Can you more experienced traders go here and give the beginners your combined wisdom and experience with respect to software and data providers...

 

[johenmo]

Can you more experienced traders go here and give the beginners your combined wisdom and experience with respect to software and data providers...

Have been there and it's a complementary thread. Have also asked some questions.

I have looked at Amibroker and Tradesim sites. Amibroker 5.1 states it does back testing. If so, then why use Tradesim? Apart from "the fact" it seems to be Aussie.

Tech/a - what draws you to Amibroker? I'm PC proficient (have done DB programming decades ago) but I'd like something that isn't "unfriendly", like some other programmes I have used.

 

[tech/a]

PC proficient---I wish I could say I was!

Amibroker---It has features others dont.
Mainly the ability to optimise.
The ability to code with AFL----- patterns and setups difficult to code in other software.
Its cheap.
There are many very talented users willing to help.

Combined with Tradesims superior montecarlo analysis its a powerful combination.

 

[johenmo]

Thanks Tech/a.

PC proficient but not PC guru! Have done some programming decades ago. The list of features for Amibroker looks pretty good. It looks like you can backtest with Amibroker - so why get Tradesim as well?

Don't know much about Monte Carlo - in simple terms, what benefit does this deliver? I know from ASF that some people are interested in it but there is always someone who will have no time for it.

I find your posts interesting - you appear to challenge "mainstream" thinking, and you appear to promote simplicity in a system. I can see how one could go crazy with TA.
Cheers

 

[CamKawa]

PC proficient---I wish I could say I was!

Amibroker---It has features others dont.
Mainly the ability to optimise.

You can optimise in Metastock as well.

 

[CamKawa]

PC proficient---I wish I could say I was!

Amibroker---It has features others dont.
Mainly the ability to optimise.
The ability to code with AFL----- patterns and setups difficult to code in other software.
Its cheap.
There are many very talented users willing to help.

Combined with Tradesims superior montecarlo analysis its a powerful combination.

Tradesim make some noise on it's web site about being compatible with Amibroker and it probably is, it's just that the Tradesim manual is based on it's integration with Megashock and doesn't once mention the word Amibroker, so I'm buggered if I know how they integrate. Anyone using them together here?

 

[tech/a]

You can optimise in Metastock as well.

Not entire portfolios.
Only individual stocks.
About as useless as----on a bull.

There is discussion on the accuracy of Montecarlo testing in Amibroker.
David Samborsky offers up compelling argument on his site.
Worth the read for those who ask why have both?

http://www.compuvision.com.au/Examples/PortofolioOptimizationMyth.htm

Personally Montecarlo analysis is a must in some form.
But statistically you can argue infinitum on its accuracy due to the fact that not EVERY single and possible combination is tested regardless of which software you use.
Its just not possible to enter every variance.

I have Tradesim already so will link it to Amibroker.

 

[Greg71]

I have Bourse Data software and Fcharts Pro (http://www.spacejocksoftware.com).

Bourse came with a course I bought, so I just use it for backtesting with historical data. Has some cool features, like a trendline extender tool (you draw a line, then click on it and it extends indefinitely into the future.).

I use Fcharts and find it a simple to use charting program. EOD data is free, as it sucks it down from yahoo.

There's a free version available as well, it's just limited as far as indicators go and you can't save your analysis (trendlines etc). Each time you open it, you have to redraw you lines.

Pro version is $200 Australian and is quite feature-packed, at least as far as I know. I haven't used every other package out there, but in my opinion it does what it's supposed to do. Has stuff on it that Bourse doesn't, which costs $440 (such as GMMA).

Drawback with Bourse is that it only takes Bourse-format data, so is useless unless you subscribe to their data supply, or buy a data c.d. for backtesting.

Fcharts takes different data formats, including Metastock.

Greg.

 

[CamKawa]

Have been there and it's a complementary thread. Have also asked some questions.

I have looked at Amibroker and Tradesim sites. Amibroker 5.1 states it does back testing. If so, then why use Tradesim? Apart from "the fact" it seems to be Aussie.

That's a good question. I've been looking at both Ami and Tradesim and Tradesim has lots more pretty charts and more detailed reports. Wether or not Tradesim is worth paying the extra for I don't know yet. Tradesim also has money management, which is very important whereas Ami doesn't, but Tradesim doesn't have an “optimise” button whereas Ami does which is also important.

The perfect back testing program that does everything is a bit like the Holy Grail, it's doesn't exist. I've got a feeling I may end up testing some of my system in Ami and the rest in Tradesim, but I'm not sure yet I'm still sussing it all out which maybe more complicated than actually building the system!

 

[CamKawa]

Not entire portfolios.
Only individual stocks.

So you and the Tradesim manual tell me. Am I missing something? Here is a screen shot of Megashock after testing one system on multiple securities. Are you telling me only Tradesim can do this?

 

[CamKawa]

and for what it's worth, testing multiple systems on one stock - LGL.

 

[tech/a]

So you and the Tradesim manual tell me. Am I missing something? Here is a screen shot of Megashock after testing one system on multiple securities. Are you telling me only Tradesim can do this?

No Amibroker. Can optimise portfolios.
Metastock cant.
Tradesim can test multiple systems in portfolio form---multiple stocks of a universe of anything you like.
So if I have amibroker I can optimise my systems (Parameters) on a portfolio and then test a number of optimised systems on multiple portfolios.

and for what it's worth, testing multiple systems on one stock - LGL.

Which is the best amibroker can do ALONE.
Fine if your trading a singular stock /Forex/ currencies etc.
If your trading portfolios---not good.