Queries Regarding Tradestation

[shorty2]

It would be helpful to me as a beginner if somebody could explain what Tradestation is all about. I'm currently looking at different charting software and have heard of Tradestation, thinking it was just a charting package. However, when I checked out the tradestation.com website it all seems to be about brokerage and I couldn't find anything to do with the software, e.g. what features it's got, is it end of day/real time or both, and how much it costs. Are they brokers who offer the software for free if you trade through them, and can your data feed come from any provider or again is it just through them ? Also are there any UK agents for them ?

If you know about Tradestation and can put me right on this it would be appreciated.

 

[Trader333]

shorty2,

The problem is that there have been several iterations of Tradestation. What many of us on this site use is Tradestation 2000i which is a stand alone software that can be used as EOD or realtime with many data providers. The other advantage is that you can backtest trading systems and write your own indicators.

There is also the later version of Tradestation which is entirely web based and also has the option of the brokerage service and the details of this are on their website as you have commented on.

Personally I use Tradestation 2000i as my software and to alert me to trading opportunities but I use IB as my broker. The biggest advantage is that I can have a direct access account in my own base currency of GBP which would not be an option if you use Tradestation Securities. Also transferring of funds becomes much more expensive if you have to start converting from USD to GBP on a regular basis but it is all personal choice.


Paul

 

[TWI]

I have used TS for many years but recently closed my subscription. I do think it is the best charting package you can get and if you only trade US markets then there is no question that it is worth serious consideration. As Paul mentioned there is a 2000i version that allows you to use 3rd party data vendors and this will cost you about GBP1300. Indeed this is a good technical analysis package but TS will not be updating that further as they are now focussed on their flagship vr. 7.0 web based product that only allows import of their own data. They do not include any EU exchanges in this package. Also they do not allow you to customise how you back adjust continuous contracts. The cost for TS7.0 is USD199/month + exchange fees. It is worth it if US data is all you need as the system building and automated execution cabability is fantastic. I have a friend who trades Dow and SP futures professionally using a totally automated system and execution via TS7. TS along with CQG are the only 2 packages I know that have good system building/ideas testing capability.
CQG is more expensive however ~GBP500/month

 

[wysinawyg]

The cost for TS7.0 is USD199/month + exchange fees.

If you broker with them its $99.99 plus exchange fees, or $0 plus exchange fees if you do enough volume. The volume is 250,000 shares or equivalent with options as 100 shares per contract and an e-mini round turn as 500 shares, so a pretty hefty amount unless you're full time.

wysi

 

[Artful]

New life for TS & PS 2000i

Guy's, There is a company at http://www.hypertrader.it that offers a free interface to TS2000i. I use it with DTN's IQFeed, but they have a number of data feeds, like IB, Bloomberg and Reuters etc. that are supported. They also have an online downloader, for use if your data provider has data history. I have used a couple of other of these alternative interface programs and this is by far the best. I also is very light from a CPU loading point-of-view.

For all of you professional trader's they also have product's that allows multiple data feeds. Certainly worth a second look for all of the owners of TS2000i and ProSuite 2000i.

There is an option inside the interface to enable DBC emulation, this allows it to act like it did originally. If you follow the read.me files then you can preserve you existing data. As far as I can tell, all of the stocks are as they are always - meaning, their symbols are universal, however the commodity symbols are the ones that your data provider uses. If you are changing from say eSignal to another data provider then you will have to rename the original file in GlobalServer before new data is appended to your database.

It is the same operation that is needed when changing contracts.

Not as neat as eSignal's ES #F option giving the front or leading futures contract.

I hope that this useful.

Cheers Artful