Broker/Data: IB - broker and datafeed, TS - datafeed
Posts: 4 since Mar 2010
Thanks: 1 given,
MultiCharts and Tradestation Review
We have been using Tradestation for several years. Unfortunatley one downside of Tradestation is that you don't have the ability to conduct portfolio backtesting unless you use another service such as Rina or Portfolio Merge (we tried Rina's Portfolio Maestro and the free demo version of Portfolio Merge in the past) to conduct this type of testing. Therefore we started to use MultiCharts and actually were able to transfer our code for our pair trading strategy from TS to MC very easily too!
We really like the ability to conduct the portfolio backtests as they are extremely helpful to us especially with the pair trading. Also in the MC 6.0 beta version they just released a new feature that involves Data Playback. It has the ability to replay and set markers where you would’ve traded. You can select the date you would like to start your playback along with Min by Min or Day by Day Charts. This is very helpful when you want to test a new strategy or see how your strategy would have done in certain market conditions..etc.
MultiCharts offers a free 30 day trial which you can try the software to test the portfolio backing and also play with the data playback to see if this is something that you can benefit from.
Thanks and goodluck with your trading!
Last edited by Big Mike; March 1st, 2010 at 04:36 PM.
Reason: self-promotion is not allowed
Mike - despite all the negatives on Tradestation, it's free + exchange fees for live data if you do just 10 futures trades per month and there is a HUGE amount of information from some serious power users on the TSW forum (only accessible to registered users of Tradestation). Some of these guys seeem to be able to work around almost all the limitations of EasyLanguage. Their DOM is fine for futures (useless for cash fx), although not as good as Ninja's. You can also, for example, use trendlines to trigger trade entries and stops from your chart (code available on the forum). But I guess you know all this already (I'm new around here) ?
I'd also second timefreedom's comments in post #62 - platform migration is such a pain in the a**, not worth it unless absolutely necessary to improve the bottom line.