Tradecision™ is a professional trading software for charting, technical analysis and trading systems design. This package combines standard technical analysis tools with neural networks and other artificial intelligence methods. It also features formula language and strategy simulation to help develop trading strategies.
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Professional trading software
I started using Alyuda Tradecision almost 3 months ago and want to share my experiences with the traders? community.
So let?s go into Tradecision toolkit overview.
One of a powerful side of the software is its extensive set of well-known charting tools. Workspaces, zooming, buy/sell markers, colors? customization, sub-charts can be used with a one click. Can say you that all charting tools (Fibonacci, Gann, Pitchforks) are pretty accurate. I am using Elliott waves and patterns analysis to forecast some market turns so Tradecision does that sort of work very surely. There is even custom Elliott waves toolbar to enable me to mark elwaves on a chart by myself.
One thing that is missing in the software is charts overlap (I?m regularly using this feature to compare two symbols). Also in analytical studies I found the lack in accurate marking of custom analytical studies. When I create my own analytical study I can insert marks only on top of bars. Pivots low with marks on top looks ugly. Trade Station, for example, offers better visualization.
Tradecision?s Data Manager proved its reliability and quick free eod data downloading from Yahoo Finance (in that way with no additional fee to be paid for market data) that is absolutely fine for a beginner trader. As for me I use CSI data, so Tradecison Data Manager imports csi database using Unfair Advantage.
The intuitive Symbol list, splits and distributions adjustment, possibility quickly finds a symbol and many others data collection and maintenance tools make the Data Manager one of the best data operators I have ever used.
One minor point to mention. As a seasonal futures trader I did not find in Tradecision?s Data Manager any in-built features for various futures price adjustments. It supports only one adjustment type and I was forced to use Unfair Advantage to adjust price data the way I need.
When I am setting up a trade, it is must for me to predestine the amount of risk that I?m going to allow on the trade. That is why I like that in Tradecision the most popular money management rules are predefined and easily available with point and click Money Management Editor.
Position size can be automatically counted up using Optimal F, Kelly, Fixed Fractional Trades and Williams formulas. There are also stop-loss rules and trailing stop rule can be also easily appointed as a combination of predefined conditions.
I think that every trading piece of software out there has a similar set of indicators. I mean MACD, RSI, Stochastic, Moving Averages, Oscillators, etc. It seems that Tradecision is not exception. I?ve found the most popular indicators. (To tell you the truth I use only five of them on a regular basis). Great stuff has applied in Tradecision - every time the indicator is plotted, the specified thresholds will be drawn automatically. For each indicator I was able to enter up to 10 threshold values and select different color and style for each of them.
Another feature that makes the software really advanced trading tool is the easy-to-use Tradecision Formula Language. It is pretty similar to Metastock language, has alike syntax so it took me about an hour to find out how to create my custom indicators, define entry/exit and money management rules for backtesting, and create custom target variables for neural networks.
For quick reference, Tradecision includes the detailed help for the language with examples and descriptions.
Maybe the main strength of Tradecision is its strategy development tools. With Strategy Builder (where strategy development process is based on the intuitive wizards) I can execute a practical trading simulation, a strategy optimization with walk-forward testing.
With walk-forward testing it become easy to perform a strategy optimization defining the test date ranges that give me the ability to select the stock parts that I want to use for optimization and for out-of-sample testing.
Also I enjoy the opportunity to reduce the time required for optimization by using Genetic Algorithms which are much faster than exhaustive search.
There are also in-built strategies that I often use: MACD crossover, Bollinger Bands, CCI MA Crossover along with many others. I can quickly create, edit, copy, and delete a strategy, insert it strategy into a chart, and perform strategy optimization and simulations.
Simulation Manager has good performance and trade reports, but it has only 2 graphs: equity curve and drawdown. Honestly, I lack more visualization here.
Tradecison?s neural networks Model Builder take up a distinctive place in the software. There is only wizard-based creation of neural models for building trading strategies. As far as I don?t have artificial intelligence background and advanced mathematical skills I like that engineers concealed all scientific details and created the fully automated neural networks.
Although, with neural networks you need to be persistent and be ready to test, since different markets and stocks require different inputs and strategies. You should be prepared to spend some time on making ready your neural models.
Want to mark off good (quick bugs fixing) technical support from Tradecision team that I got regularly during the last 3 months. Looks like guys know what trading is about. Many of my suggestion and comments about software modernization now have been added to the Tradecision. Good work! I look forward to the new software improvements, like real time, for example.
I?ve experimented with different trading software packages trying on what is working best so IMHO in spite of the high enough price ($1198 for Pro) the product tools and some sophisticated features make Tradecision fetching enough for active and professional traders to use it as steady trading software.
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