TradeStation vs Wealth-Lab

[scotty_dog]

Hi there,

Has anyone here any experience of both TradeStation and Wealth-Lab?
How do they compare?
If I want to develop a string of intraday futures systems, which platform do you think best suits the purpose?

Any help gratefully received.

Cheers,
Scott

 

[Tinkz]

I used both, wealth-lab is fine and similar in language to tradestation, imho, use wealth-lab to learn coding on if you are new, if not tradestation is better as you can access the database of stocks very easily and code quick, but going into complex strats, both are tough, TS does not have the functions to do it. wealh-lab has but not good with data feed and is to clunky in optimizing. so to slow for complex stuff

Problem with wealth-lab is where it is heading, I loved it when i used it, I would go back too, the WL board is a cracking place to start learning system trading.

TS is a now a bit of dog to trade from once you get past 100 line strats, its got no edge apst that,cant pair trade, cant make an index but u can code real fast in it if u know what u r doing very friendly

So what am I saying, look into neoticker I here its pretty good lately.

 

[zab]

...
TS is a now a bit of dog to trade from once you get past 100 line strats
...

There are a few people with 25k line strats. TS may not be the fastest in the world but you can get well beyond 100 lines before you have problems.

...
cant pair trade
...

Yes you can. It isn't native but it's easily doable.

...
cant make an index
...

Yes you can. There are several 'make your own index' solutions posted on the TS boards.

 

[Tinkz]

There are a few people with 25k line strats. TS may not be the fastest in the world but you can get well beyond 100 lines before you have problems.

Really, at 100 lines is basic stuff, go past that and you start to enter a different level of programming and understanding, and your demands on the systems grow. TS's easy language is a good place to learn, it has alot of followers. it is by no means a complete strategy system.


Pair Trading.
Yes you can. It isn't native but it's easily doable.
Imho if its not native, the system is not designed to do it, try multiple pairs and a basket of stocks against futures and the algo's to deal with it ,any new person will find it to hard in TS. Too complicated as you has to run multiple strats in different windows to make it. just look at the bullitin board, you see idea's on strats but not many, why? because if you read the thread it tells you.


Index's
Yes you can. There are several 'make your own index' solutions posted on the TS boards.

There is no index package offered by TS except your own work arounds, I do this I use TS to generate indexs, its not native, its not good for the package,. you cant get past 50 stocks without going into work arounds and so forth, its not native.
You want to get more complicted than 50 stocks and an index and really use the data given in real time by stocks, u had better understand the limitations of the workaround.

With TS to get the best out of it you have hours of learning work arounds I rather prefer not to do this but use that time in trading systems.

These are floors understand them, do not love the system they are a tool and you must push all the time for the best tool or package of tools.

 

[alexander]

Hi there,

Has anyone here any experience of both TradeStation and Wealth-Lab?
How do they compare?
If I want to develop a string of intraday futures systems, which platform do you think best suits the purpose?

Any help gratefully received.

Cheers,
Scott

Both are OK. Tradestation is part of a complete package that includes online trading. For both you need to have some programming experience. I find easylanguage a bit more intuitive than WL script but that is a personal bias.

By the way, TS is free when you open an account with them but I have my reservations for coding a proprietary system in a platform that links to a server. By the way, for simple and quick intraday futures systems I still use the old good Metastock. I still think that nobody can beat Metastock's graphics anyway.

Alex

 

[taowave]

Hi there,

Has anyone here any experience of both TradeStation and Wealth-Lab?
How do they compare?
If I want to develop a string of intraday futures systems, which platform do you think best suits the purpose?

Any help gratefully received.

Cheers,
Scott

Check out traders studio....the newest version has just been released and it is an excellent system backtester as well as a suprisingly good charting package..if i am not mistaken,the developer is the editor of futures magazine