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Taking a Trading System Live


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Taking a Trading System Live

  #61 (permalink)
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Hi @artemiso Which kind of tools do you have in mind?

Sorry for this intrusion, @kevinkdog , and congratulations for the quality of your journal!

Nicolas

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  #62 (permalink)
Legendary Market Wizard
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Nicolas11 View Post
Hi @artemiso Which kind of tools do you have in mind?

Sorry for this intrusion, @kevinkdog , and congratulations for the quality of your journal!

Nicolas


Thanks. @artemiso is right. I know CTAs and hedge funds that use Tradestation, as do many retail people. But there are tons of other products much better, depending on your needs. Same goes for Excel.

For automation and backtesting specifically, I only do things I know my software can do correctly. Does that limit my systems, or make things more difficult for me? - Undoubtedly yes.

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  #63 (permalink)
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Hi Kevin,

Interesting thread you got here. One question:

kevinkdog View Post
For automation and backtesting specifically, I only do things I know my software can do correctly. Does that limit my systems, or make things more difficult for me? - Undoubtedly yes.

If I may ask: why don't you expand your software and/or skill set? Do you believe it won't give much benefit or do you believe in 'don't change a winning team'? Or do you have more practical objections (i.e. no spare time)?

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  #64 (permalink)
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Jura View Post
Hi Kevin,

Interesting thread you got here. One question:

If I may ask: why don't you expand your software and/or skill set? Do you believe it won't give much benefit or do you believe in 'don't change a winning team'? Or do you have more practical objections (i.e. no spare time)?

Good questions. It is probably a combination of things. Extra time is a big factor. Also, I've been able to solve my programming/strategy issues with software I have and know, although sometimes I know I am doing things the hard way (try trading exchange supported spreads with Tradestation. Oh, that's right, you can't with their main platform. So testing spread strats becomes a real chore.)

Some of it is just exposure to the "other side" - most of the people I talk to are retail, or have retail foundation (and have now moved on to CTAs, hedge funds), etc. I'm sure my tools would be different had I started in this by working at a hedge fund or bank.

I don't see myself running out of ideas to test and implement with the tools I have, but I think I know when that time might be. And if need be I'll do it.

I hope this answers your questions. It is a good topic to discuss.

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  #65 (permalink)
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In this position, I'd definitely spend some time with a typical programming language (Java, C#, C++, Python, MATLAB, R). I have my personal preferences among these languages, and others in mind, but any of them would suffice.


Last edited by artemiso; August 29th, 2013 at 02:36 PM.
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  #66 (permalink)
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artemiso View Post
But I personally see profit as a nonlinear reward for the value that you add: if you're using Tradestation, then you're consuming what little value that it provides.

Does that mean you believe going to higher value tools beyond Tradestation/NT can open the door to much higher reward (ie trading profits)?

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  #67 (permalink)
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kevinkdog View Post
Does that mean you believe going to higher value tools beyond Tradestation/NT can open the door to much higher reward (ie trading profits)?

Tradestation/NT remind me of Notepad in this picture of learning curves:



Last edited by artemiso; August 29th, 2013 at 02:35 PM.
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  #68 (permalink)
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artemiso View Post
Yes. My answer sounds rather philosophical but anyway: Yes in that better tools allow you to create more value, and more efficiently. Tradestation really abstracts away all of the interesting work that you can create so the little value that you're creating is just in the strategy layer.

Thanks for your post. Now I'm really curious what tools there are which costs more than NT and what value they have. Would be glad to have more details.

I agree that tools can create more value/efficiency. But in general I wouldn't agree that the more expensive the better. Maybe I just missed out some great trading software which retail traders just don't know or even can't afford.

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  #69 (permalink)
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artemiso View Post
Whose idea was it that you must always:

1. Write strategies
2. Backtest.
3. If not promising, return to step 1.
4. Optimize/WFO etc.
5. Paper trade.

Great post! There is a lot to think about in it. My biggest gripe with retail software is that, in an attempt to make is super easy and user friendly, the software encourages and nutures a lot of bad habits, as well as creating pitfalls most people don't see until they lose money because of it (again, myself included).


Regarding the part of your post I quoted, I know that is how a lot of traders (at least retail) traders approach (myself included).

I'm curious, since you aren't from the retail world, how does your process differ, if you can share?

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  #70 (permalink)
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I think what makes the trader successful is not the tool, but the skills of the trader. The tool is just a "helper". He can be also very succesful with tools that cost nothing.

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