fundjunkie
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For a while I have been swing trading using a fairly cautious fundamentals and value based approach. I've done ok after some early hiccups and want to research more sophisticated methods of structuring and planning my activities. For that I'll need software that I can write systems for and backtest against.
And this is where things, to me, get complicated. Up to now I've tried Sharescope and TC2000 for the limited trading I've done up to now. Neither allows me to develop, and in particular test, the kind of technical underpinned by fundamentals system I'd like to use. Also, the screening facility of these two apps. is rather limited IMO.
So, if I decide to shell out on something more richly featured I need to understand what I'll get. Both features and pricing seem confusing, IMO. Unfortunately, the signal to noise ratio on this subject seems to be very low so if some people can give me some meaningful insights I'd appreciate it.
The kind of things I'm looking for in a software suite are:
- A good user interface
- Ability to screen on a wide range of both technical and fundamental criteria
- A wide range of indicators and the ability to create custom indicators. Note: Do any packages maintain sentiment indicators?
- A large number of prebuilt systems including more exotic stuff (to me anyway) like buy-write systems etc.
- Ability to create and test systems against one or a portfolio of stocks, indices or derivitives. Backtesting over the longest time period would be a big bonus too.
- Ability to maintain a paper trading history (hey, I'm lazy
- Ability to analyze trading performance.
- Some kind of money management facility - money management is something I'm becoming increasingly aware of the importance of 'cos I'm thinking about using margin accounts.
- Ability to perform options screening and analysis and monte carlo risk analysis.
...Can't think of anything else right now.
Packages that I'm aware of are Tradestation, Metastock, Trade Navigator (seems very feature rich on market analysis) and not many others. Any useful feedback people can give will be greatly appreciated. However, please avoid posts like, "I use XXXX and think it's great". That won't really help me in my position.
Thx in advance,
D
And this is where things, to me, get complicated. Up to now I've tried Sharescope and TC2000 for the limited trading I've done up to now. Neither allows me to develop, and in particular test, the kind of technical underpinned by fundamentals system I'd like to use. Also, the screening facility of these two apps. is rather limited IMO.
So, if I decide to shell out on something more richly featured I need to understand what I'll get. Both features and pricing seem confusing, IMO. Unfortunately, the signal to noise ratio on this subject seems to be very low so if some people can give me some meaningful insights I'd appreciate it.
The kind of things I'm looking for in a software suite are:
- A good user interface
- Ability to screen on a wide range of both technical and fundamental criteria
- A wide range of indicators and the ability to create custom indicators. Note: Do any packages maintain sentiment indicators?
- A large number of prebuilt systems including more exotic stuff (to me anyway) like buy-write systems etc.
- Ability to create and test systems against one or a portfolio of stocks, indices or derivitives. Backtesting over the longest time period would be a big bonus too.
- Ability to maintain a paper trading history (hey, I'm lazy
- Ability to analyze trading performance.
- Some kind of money management facility - money management is something I'm becoming increasingly aware of the importance of 'cos I'm thinking about using margin accounts.
- Ability to perform options screening and analysis and monte carlo risk analysis.
...Can't think of anything else right now.
Packages that I'm aware of are Tradestation, Metastock, Trade Navigator (seems very feature rich on market analysis) and not many others. Any useful feedback people can give will be greatly appreciated. However, please avoid posts like, "I use XXXX and think it's great". That won't really help me in my position.
Thx in advance,
D
