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Software Review Trading Software & Platforms

View Poll Results: Best TA software
Amibroker 43 75.44%
Advanced Get 3 5.26%
Market Delta 2 3.51%
Tradestation 2 3.51%
Metastock 8 14.04%
Ninja Trader 9 15.79%
Multicharts 2 3.51%
Wealth Lab 0 0%
Matlab 2 3.51%
R 0 0%
Multiple Choice Poll. Voters: 57. You may not vote on this poll

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  #1 (permalink)  
Old 15-10-2010, 07:06 PM
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investigate Ferrari Vs Rolls Royce Vs Bentley of Trading Softwares

Dear Friends,

The objective of this thread is to compare the advantages and disadvantages of various TA softwares in terms of

1. Worth for money.
2. License Cost.
3. Programming capabilities.
4. User Friendliness.
5. Speed of data processing.
6. Scanning Facilities.
7. Ability to handle tick data.
8. Service from the SW vendor.
9. Special Hardware requirements if any.
10. Run time difficulties.

Also please rank your favorites in the order of your preference.

Please share your experiences and also participate in the pole.

Thanks in advance.

Best Regards,
JK
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Old 15-10-2010, 07:20 PM
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My fault,i prefer to the low cost Suzuki Swift aka amibroker.....

ami is sort of veyron for me...
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Old 15-10-2010, 10:47 PM
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why unspoken about chartnexus xpert trader and fchart pro . if any one test it as it has
trial one.
though chartnexus xpert trader is costly but it is userfriendly, i think so. if any one use it
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Old 15-10-2010, 11:01 PM
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Added a few more softwares and made the thread sticky. We had a thread existing on a similar topic but starting afresh looks cool.
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Old 16-10-2010, 02:03 PM
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Voted for AmiBroker. It is cheap, fast and more than sufficient for most of the begining to advanced traders.

Once you spend some time with AmiBroker and know its limitations, you will still have a fast charting sw, and at the same time, you will also know what you really need in your next software.

To make the best use of AmiBroker, read:
1. AmiBroker User's Guide - This covers most of the basics and most queries can be answered by reading this guide. Comes free with AmiBroker

2. Introductin to AmiBroker by Howard Bandy - Not really needed for those who have gone thru the user's guide, but still a good refference. IMO too verbose, but some may find it useful

3. Quantitative Trading Systems by Howard Bandy - This is a good book to get if you want to build your own trading systems using AmiBroker. Some programming background is required to fully understand this book. Also typing in all the AFLs can be a good exercise to absorb the material.

-- no1lives4ever
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Old 16-10-2010, 04:13 PM
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My First Vote goes for Multicharts and Tradestation. EasyLanguage makes developing trading systems a lot faster once you bypass the steeper learning curve of the formula syntax.

Add to that amazing backtesting capabilities and the handling of tick data and special 3rd party addons (if need be) to extend the reach of the platform.

Second choice would be Amibroker for the very fact that it is light on resources, has good database handling capabilities and a formula engine that makes data manipulation a breeze.

Multicharts is a lot more expensive than Amibroker but for those who need it it's money well invested for a lifetime license with free upgrades.
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Old 16-10-2010, 04:26 PM
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Thanks Friends.

The below points are my personal observations.
Please feel free to correct.

Amibroker

Most preferred TA software with in the forum and also in general.

Advantages

1.Affordable almost by every traders.
2.Data feed availability is not an issue.
3.Readily available AFL's all over the net.
4.Scanning facility.
5.Programming capability.
6.Back testing facility is available.
7.Auto play facility to view the charts of historical data.

Very popular and hence requires no introduction.

Queries
1.Is Ami capable of handling tick data and charts ?
2.If yes - Is it possible to create Foot print charts ?
3.What features/advantages other SW's have ?

Metastock

IMO second most popular charting sw next to AMI for years.(at least with in my local trader circles).

Advantages

1.Data feed availability is not an issue.
2.Readily available MS formulas all over the net.
3.Scanning facility.
4.Programming capability.
5.Back testing facility is available.

Queries

Not sure if Auto play facility to view the charts of historical data.
Not sure if it can low latency handle tick data.

Disadvantages
1.Affordability of licensed version by all traders
2.I have seen charts crashing with runtime errors.
3.Processing speed is not as efficient as that of Amibroker.
4.Heard of some difficulties with its programming capabilities.

Matlab

Advantages
1.Very popular in the Engineering/Financial/Research/ sectors.
2.Used by Big guys/Quants for Financial modeling/Statistical Arbitrage/creating High frequency algos and systems.


Disadvantages
1.Requires lot of effort to learn and hence not user friendly strictly from a traders point of view.
2.Expensive
3.Heavy weight application and hence requires latest hardware's.
4.Requires "C" programming knowledge.

Queries
1.Data vendor for Matlab ?
2.Is it really very complex and will the learning curve be very high ?

Regarding other softwares I am zero.
Seniors/Experts/Members request you all to come with write ups why they prefer their softwares.

Thanks in advance.

Best Regards,
JK

Last edited by jagankris; 16-10-2010 at 04:29 PM.
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Old 16-10-2010, 04:44 PM
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Originally Posted by xyte View Post
My First Vote goes for Multicharts and Tradestation. EasyLanguage makes developing trading systems a lot faster once you bypass the steeper learning curve of the formula syntax.

Add to that amazing backtesting capabilities and the handling of tick data and special 3rd party addons (if need be) to extend the reach of the platform.

Second choice would be Amibroker for the very fact that it is light on resources, has good database handling capabilities and a formula engine that makes data manipulation a breeze.

Multicharts is a lot more expensive than Amibroker but for those who need it it's money well invested for a lifetime license with free upgrades.

Thanks Mr.Xyte.

Sorry for my dumbness.
Please confirm if Multicharts and TS are two separate charting softwares ?

Note:- I am not sure if it is okay to mention data vendor names/license cost in the form openly.

1. Who are the data vendors for Multicharts and TS ?
2. Which broker provides TS to trade Nifty/Sensex/Commodities ?
3. License cost ?
4. What are features that are available in Multicharts/TS and make it superior than AMI ?

Thanks in advance.

Best Regards,
JK
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Old 16-10-2010, 05:06 PM
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A few observations about matlab from my side:
. Matlab is not very resource intensive. For a certain class of problems, matlab is the fastest option. This typically involves problems where you run calculations mainly using the modules available for matlab. Getting performance similar to that of matlab requires deep experience with high performance calculations when using c/c++.

. Matlab comes with a huge library of modules which have proper implementations of many advanced algorithms. Coding these yourself will end up costing a lot more than licencing the modules themselves.

. R, while not the same as matlab is similar and is free & open source. R can be a good way for someone to begin with mathematical analysis. R also has a great community behind it.

. Matlab is used heavily in academics, so you will find that those with engineering, math & statistics background would preffer to use matlab, as they have used it a lot during their college courses.

. You do not need to be a expert "C/C++" coder to become productive with Matlab. Matlab actually uses quite a different model and while c/c++ experience will help, it is not essential to learn and use matlab.

Coming to TS & Multicharts.

. TS = TradeStation, is from a company called tradestation securities (i think nowadays). Was formerly Omega Research.
. TS has been used by system traders to code and test strategies for a long time. So you will find a lot of the system building material available use TS as the base.
. TS today is a platform which is integrated with a brokerage. TS is your software, brokerage & data vendor. So it is a all in one package today.
. I do not think the current version of TS supports data or trading in indian exchanges.

. MultiCharts or MC is from a company called tssupport. They are not the creators of TradeStation
. MC supports EasyLanguage that is used by tradestation, so people club MC with TS whn discussing, as you can typically use TS code in MC.
. MC supports regular data vendors like esignal, so getting data into MC is not that difficult.
. MC is great as a platform for strategy backtesting if someone has TS experience. For a newcomer, EL is roughly as hard as any other platform.
. I personally did not like MC and I could not justify the 5x cost of a MC permanent licence over the cost of AmiBroker.
. MC is developed at a fast rate and has a very good development team backing it. MC has new features added quite often, while TS typically does not address long standing issues over years at times.

-- no1lives4ever
PS: Mentioning names of data vendors and licence costs of software should not break any forum rules.
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Old 16-10-2010, 05:43 PM
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Without intending to sound snobbish or geeky, I'm finding it difficult to move away from matlab after getting used to it over the last few months. I don't have a programming background and while I do find solving issues in matlab challenging, I do not really find it 'excessively difficult'. I'm still to use it in a real time frame work, so can't comment in that front and it will be particularly stupid to spend time learning matlab for charting or running moving average crossover strategies (which can be implemented with a lot of ease in other softwares), but as far portfolio backtesting, optimization, rotational trading, unconventional analysis etc goes, I see it (or R?) as the way ahead.

Multicharts (which I recommend to anybody starting off) beats Matlab for most needs and is terrific in a lot of aspects (as xyte has mentioned) but for very specific needs you will have to move over.

I am prejudiced against amibroker, so I'm not going to comment on that

Metastock is a piece of garbage. I'm not going to dignify it by giving it a review.
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