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waveslider

Tradestation Just Lost My Business... Looking for a New Platform/broker

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  daedalus said:
Well i've used TS for over two years now, and while they aren't perfect I have had no issues regarding data slowness, etc. Thats all a bunch of ET B.S. like most things over there are. In fact, they've done extensive upgrading recently to get even faster data.

 

This debacle the other day was the first time i've ever experience anything like that.

 

Curious on the bugs with MC. I have heard that from a friend as well when he tried them. I really want those guys to get the kinks ironed out of that platform because it is just soooo cool.

 

Anyway, I do manual backtesting as well with the same kind of logic. There really isn't too many ways around it.

 

I don't trade automated setups so i've never used the backtesting extensively but EL is fairly easy to code, but like anything, TS wants you to have to pay to go to education schools, etc for coding help, etc.

 

That being said there are tons of sites like this one and kreslik that have loads of indicators already created and ready to go for you.

 

Hope this helps.

 

It does help, thanks. I tend to take ET with a big grain of salt, because they are a bunch of let's say pretenders and unstable ppl. but these came from ppl. that don't scream everyday. Ppl. that lost over several hundred bucks to a few thousand due to the platform locking up all in a fast moving market, that's why I went hmm, do I want to do that? I know no broker is perfect just trying to due some DD. This is the most recent thread I was talking about if your are interested. http://elitetrader.com/vb/showthread.php?s=&threadid=133483&highlight=tradestation

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Consider yourself lucky then. Guess somebody has to win the lottery.

 

I also have been using TS for a long time, but only as a broker during the last 2 years. I have often defended TS in the past, but I am done with that. Their data speed/stability seems to degrade with each passing month, and the frequency of freezeups seems to increase with each passing month. Suffice to say they need to get their act together or they will continue to lose customers.

 

 

  daedalus said:
Well i've used TS for over two years now, and while they aren't perfect I have had no issues regarding data slowness, etc. Thats all a bunch of ET B.S. like most things over there are. In fact, they've done extensive upgrading recently to get even faster data.

 

This debacle the other day was the first time i've ever experience anything like that.

 

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I had an issue where it locked up and i missed out on a trade about a month ago. I emailed customer service and was credited 99.95 for my issue. Make sure they know what you're problems are. They seem to be aware that many people are not happy with the recent happenings and are really making an effort to make good on it.

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  Quote
They seem to be aware that many people are not happy with the recent happenings and are really making an effort to make good on it.

 

I was with TS for 3 years and it was the same circle... big problems ==> outrage ==> TS fixes problems... a few months go by ==> big problems ==> outrage.... repeat over and over.

 

I have come to the conclusion that Tradestations architecture is flawed. Simple as that. The idea of combining best-of-breed software (EL) with a brokerage was beautiful on paper -- it just hasn't worked out in execution.

 

Tradestation will figure out the current problems and then there will be new big problems. It is not surprising, this is the history of the software industry as system environments are dynamic and wreak havoc on dated architectures.

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Guest forsearch

Another reason to diversify your portfolio and setup.

 

You need accounts with at least two different and unrelated brokers.

 

You also need charting and data from two or more separate providers.

 

Redundancy is key.

 

Putting all your eggs in one basket is a recipe for failure.

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Update -

TS did refund me for the $ lost during their outage. Still, I was unhappy in how they dealt with the whole situation in general. There was very little updating, everyone was in the dark, wait time on the phone was 3+ hours. The platform is good, the data is good, could be better. Forsearch is right about diversification, but sometimes that still doesn't help when you can't get the broker on the phone.

Frank's probably right about the architecture, it would cost them a lot to start over, and would be worth it to their clients, but not the company.

Agree that easylanguage is truly great.

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  waveslider said:
Forsearch is right about diversification, but sometimes that still doesn't help when you can't get the broker on the phone.

 

Thus you'd want to immediately take an opposing trade with your other broker to hedge your position, if your stop won't take you out.

 

You ARE trading with stops, right? :confused:

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Its a good idea, but my stops are VERY close sometimes (usually not more than 2 pts in ES) , So I would not know if the position was still active or not, and may be putting on a naked hedge. What happens if my stop is hit and the broker doesn't fill it because his network is down too? Tradestation has their stops held until they are activated (not actually in the markets), unless I am mistaken.

 

That works for longer term positions, of course, but a intraday outage wouldn't affect those positions so much.

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Just my 2 cents here. I have often felt the same way. The grass is not always greener. I suspect in the end the problems with TS will work out. At least I would say that I would rather have their engineers working to fix it than another startup ( or just charting ) company.

 

I worked for a major tech firm for years before I became a trader. Fortune 50 and it is no different when it comes to engineering/software changes.

 

It's like a marriage on the rocks. Just try to give it a chance. In my opinion its not worth your valuable time to start going down another road.

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I have been with neoticker since 2005 , I do agree with some of the statments regarding the learning curve to program your ideas in neoticker. However , I am at a level now where i can program almost anything , and it has been worth my persistence . I have been able to program some great indicators that almost rival the institutional algorithmic models out there, which gives me a large edge . I would not be able to trade or see underneath the hood of the market without my neoticker. It has taken a while to get there but there is no better support service for a software company that answers all questions programming or otherwise within a couple of hours usually , so I would recomend them without a doubt..

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I haven't had a "significant" problem with TradeStation in over 10+ years to give me a reason to leave to another trading software. But I do not execute trades through them. Eggs are kept in separate baskets, always.

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  SunTrader said:
I haven't had a "significant" problem with TradeStation in over 10+ years to give me a reason to leave to another trading software. But I do not execute trades through them. Eggs are kept in separate baskets, always.

 

I am currently searching for a broker where I can trade volume specifically, but without having this bundle "broker/platform/datafeed " all-in-one solution as with Tradestation.....

 

So where do you execute your trades ?

 

Thanks for any suggestion.

 

Michael :pc guru:

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TRADECENTERLLC.[Open e- cry.]No charge for LIVE FEED.Competetive pricing.Great service[ask for DREW.I ave been using their paper trading platform for months for a small fee.Again no cost for live feed & their charting is pretty good.:)

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  the_Gridder said:
I am currently searching for a broker where I can trade volume specifically, but without having this bundle "broker/platform/datafeed " all-in-one solution as with Tradestation.....

 

So where do you execute your trades ?

 

Thanks for any suggestion.

 

Michael :pc guru:

IB - Interactive Brokers.

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Hi everybody!

Have you ever tested Strategy Runner? I heard it's good for short-term strategies, very fast, allows to trade in the DOM and to launch automatic trading on their server (you shouldn't keep your PC on)

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Technical Analysis of Stocks & Commodities mag. 2009 annual poll results

 

Stock Brokerages:

1) IB

2) TS

Futures Brokerages

1) IB

2) TS

Forex Brokerages

1) IB

2) TS

Real-Time Data

1) TS

2) eSignal

Institutional & Professional Platforms

1) TS

2) IB

Options Analysis Software

1) IB

2) TS

Options Trading Systems

1) TS

2) Optionetics

Futures Trading Systems

1) TS

2) eSignal

Stock Trading Systems

1) TS

2) eSignal (Advanced GET)

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Well you know something may be amiss when the IB feed beats out the likes of CQG, Reuters, and Bloomberg, but it's still interesting. Though I probably could have guessed that the two most used feeds are IB and TS.

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That'll be due to the fact that at least most people that use CQG, do not read SAC magazine!

 

  diablo272 said:
Well you know something may be amiss when the IB feed beats out the likes of CQG, Reuters, and Bloomberg, but it's still interesting. Though I probably could have guessed that the two most used feeds are IB and TS.

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Hi Diablo:

The IB feed didn't beat out Bloomberg, etc. The IB brokerage was voted #1 but the data feed wasn't even honorable mention.

 

Here's the complete list of survey winners for RT data:

Winner: TS

First Runner-up: eSignal

Finalists: Bloomberg

MetaStock QuoteCenter

TeleChart Platinum

Semi-Finalists: Genesis Financial

Reuters Data

Honorable Mention: DTN.IQ

 

Here's the complete list of survey winners for Institutional Platforms:

Winner: TS

First Runner-up:: IB

Finalist: eSignal

Semi-Finalists: Bloomberg

Honorable Mention: NinjaTrader

Reuters

 

 

If memory serves correctly, TS is only about 10% as large as IB in terms of its client base. TradeStation can be used as a platform without using the brokerage ($250/mo.). CQG, MetaStock QuoteCenter and RealTick were listed as top contenders in 2008, but dropped off the list in 2009. TeleChart, MetaStock, VectorVest Pro, and Amibroker, etc. were listed under the Standalone Analytical Software.

 

 

I watched a Linda Raschke webinar last night promoting her execution/charting platform Photon Trader (futures and CME currencies currently). She also uses TS and CQG. She uses TS for charting and back testing, etc., but not for execution. She said that she sometimes uses CQG for execution occasionally (as she has for years). PhotonTrader has drag and drop chart ordering like NinjaTrader. I've also read that LightSpeed Trading is good, except with volume spike days (like TS).

 

Here's Barron's Broker table for 2009 (stock oriented):

http://online.wsj.com/public/resources/documents/barronsbroker-final2.pdf

 

Tools of the Trade - Barrons.com[/media]

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momentom:

 

You stated: "Interesting idea. Let's make a decision based upon the opinion of a group of people of whom probably 90% are using those tools to lose money."

 

1) Your statement is sarcastic and unconstructive. “Sarcasm is anger’s ugly cousin.” The purpose of the forum is traders helping (building up, not tearing down) other traders.

2) Your 90% figure seems baseless in the absence of any evidence.

3) Your statement seems illogical. I can buy my 350-lb. neighbor the best basketball shoes in the world and there’s still no way he beat LeBron James or Kobe Bryant even if they’re forced to play in wingtips or barefoot. Translation: Usually, a great tool doesn’t make a poor trader a great trader and a poor tool doesn’t make a great trader a poor trader.

4) Your statement is inaccurate. It assumes that I posted the data and expected people to make a decision solely from the survey. . I only posted the data as just that; data. I proposed no “idea” – no opinion. Since you deal in opinions, it is my opinion that “the best platform” for an individual will vary with that individual’s different market, trading style and needs.

5) Apparently you use or formerly used and recommended both TS & IB which were the top 2 winners in most of the categories in my original post. So you are or were using the same tools that the so-called 90% losers recommended. “I use both. If you want the charting platform use TS otherwise I would use IB.” http://www.traderslaboratory.com/forums/f92/beginning-trader-needs-imput-ib-tradestation-2422.html

 

If you can show that I’m factually incorrect in these 5 statements, then by all means do so. I’ve read some of your postings and you seem fairly knowledgeable. In this case you were both rude (sarcasm is considered rudeness) and wrong.

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