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Saturday 17 February 2007

Software

I've looked at almost every available trading software I could find, and if I had to switch I would go with either tradestation, neoticker, or top gun software. For now though, I'm going to stay with quotetracker and keep a detailed journal of how my current system would work by saving pictures of each days trading signals and then refine my strategy as time goes on. The strategy focuses on ER2 while in conjuction with NYSE TICK. I've been trading some of my signals from my strategy the last 2 weeks and it has been working, although there is need for improvement both on the signals and on my own trade execution.

Each software provider mentioned above gives limited amount of backfill history to test strategies based on a tick by tick basis. The software providers do give a lot of backfill history on 1 min charts, but I would like a tick by tick backtest which includes volume and a backfill that shows volume profile as well. Tradestation doesn't have range bars which I use for my current strategy and market profile costs extra because its an add on, however tradestation's easy language is the easiest to use to test strategies. Neoticker has a lot of the things I need that Tradestation doesn't have. I think I will go to the neoticker forum to ask questions to see if it can do some of the things that I want it to do.

Things to do:
Add ADX study to chart and test strategy.
What software can you have a strategy designed for when both ER2 and NYSE TICK give a signal at the same time?
Which software can give volume profile strategy backtesting?
Compare volume between IWM and ER2. Which gives a better signal when using volume as a secondary indicator?
Can my current strategy be switched to 1-3min bars, volume bars, tick bars, or will range bars only work?
Do I need to buy a book on strategy development or will internet resources give enough free information to learn from?
How is volume distributed when we come near the LVA, POC, and UVA, both on an intraday time frame and a multi-day time frame?

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