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System Trading - Wealth-Lab/TradeStation/Other

alain

Older and Wiser
Has anybody used or played with Wealth-Lab or TradeStation? Any opinions/comments/reviews? What other system trading packages are out there (besides writing our own)?

I would like to start testing some trading ideas.
 
Are you talking about program trading or just a free package that let you trade for fun? Collective2 seems to cost money. You can use the investopedia.com's Simulation that's FREE (that's what we use for MTH9845 class).
 
hienqnguyen said:
Are you talking about program trading or just a free package that let you trade for fun? Collective2 seems to cost money. You can use the investopedia.com's Simulation that's FREE (that's what we use for MTH9845 class).

We need something to test our algorithms. Collective2 charges you if you want to sell your system. Then it cost about $70 semiannually. Basically you can open an account with IB and have free access to paper trading account. You don't have to trade your money, just maintain a minimum account ballance and pay $10 monthly fee.
 

alain

Older and Wiser
hienqnguyen said:
Are you talking about program trading or just a free package that let you trade for fun? Collective2 seems to cost money. You can use the investopedia.com's Simulation that's FREE (that's what we use for MTH9845 class).

I was thinking more of the lines of TradeStation (TS) and Wealth-Lab (WL). These systems have a script language with built-in functions specifically designed for trading based. I know we have TradeStation in the Subotnick Center so we can play there. The language that TS uses is called EasyLanguage. I was looking at it but I need more practice with it.

WL has a script language based on Pascal. I have experience with Pascal so it was easier for me to grasp the language a little bit better.

The only issue is that both systems cost money, a lot of money. So I was looking for an alternative.
 
Alain,

From what I remember, one could join the www.wealth-lab.com site for free. The two advantages would be to access the thousands of existing scripts and pick a few to work with.... It is easier to improve on a system then think one up from scratch. If I remember correctly, one could work with end-of-day (EOD) equity data and backtest on daily bars for free.... The idea was to let the users become familiar with the scripting language and see some utility to entice one to purchase the software.

At this point, one cannot buy Wealth-Lab in the US as Fidelity has the exclusive US rights but if any one has a Fidelity account with a decent balance, WealthLab is free.

The only "free" idea I can think off besides "cracks" that I don't deal with is there is a product under development at RightEdge. http://www.rightedgesystems.com/default.aspx

The product still in beta and the developers are seeking feedback...The download is free and it might be usable with some band aids as they have been working on it for a while. The language interface is .NET so you could use VB or C# without having to learn a new product specific scripting language.
 
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