a great software - WEALTHLAB

Here's a great software in your quest for wealth...wealth lab.
www.wealth-lab.com

recently i have been evaluating software like all newbies do to get the best mouse trap that can lead to the holy grail...

tradestation is the best (CV I envy you)...It can do anything in this world...(related to trading of course)..any test, any simulation...strategy, backtesting, forward testing (grail is one of the best genetic walk forward) etc...(as claimed by users)

cant afford it

so go to the bottom of the heap (worth considering)...and here comes amibroker...u get what u pay for and thats what it is...if TS is around $2000, ami is $149 to $229.
So what u get at this price? a good charting with run of the mill built in indicators, many good features that u can hear about in this forum and ami website...poor alerts, even poor backtesting and no facilities to implement advanced concepts. but whats good is u can build ur own indicators and systems. but again as u advance u realize the pitfalls...

and so i go again in search for the next better mousetrap and discover wealthlab.
presto...at least it is a better mousetrap (checking demo)

priced at $650, it comes in between ami and TS

progamming is flexible...trading system design is easier...simulator helps in great simulation...has mc (dont know if its bootstrap, jackknife or plain), has neurolab and indexlab for easy index maintenance...try that on amibroker buddy!!! but if u pay 5 times the price thats what u should get

great flexibility in programming compd to amibroker

has
1. msgbox
2. break/ continue for very flexible redirection
3. begin end for complex but disjoint program blocks
4. case

will post more as i come across more

and yeah...for the lazy bones

most trading sytems are written...
just chnage ur parameters, tweak and optimize...and i mean systems..not indicators as in amibroker..so even a non programmer can use it..
and for the techies its base on PASCAL and not C as in ami.

bye for now.

PS: No metastock pls....until they revamp their old architecture...


all info gathered from product reviews, company websites, sales pitch, user blogs and forums.

btw it has its cons too, but those will come only after i discover a better trap yet again.

You haven’t seen MTPredictor and Advanced Get. They too must be GOOD!!!, because they too cost a fortune!!

Gann Elliott Trader is something that I do not believe in as the I believe trading is more of a quants game than planetary harmonics and golden ratio...though there are apparently no. of traders who swear by these.
btw when i went for a demo of advanced get i saw a stochastics oscillator with no bar on top of it...the guy told me u can short safely as the bar is not there...then the stock turned up...after 8 days when i went back, the bar had appeared on top...great hindsight i must say..

bye

To day you enter on the signal. Tomorrow it is gone. (even the wave counts). What do you do now? Book loss and exit the trade? or keep your fingers crossed and hold on to the trade hoping the signal will re-appear tomorrow .
These are facts the traders face every when they use a Black box software.

Of course these are the trade marks of a typical so called “Proprietary / Black Box” software. Some take refuge of planets/stars etc. All said and done you end up a looser In the end

yes ,i have wld 4.03. get9.1 and MTPredictor 5090 ,amibroker 4.90.5

collinschang,
I envy you ,it is no big deal of owning these sw,but i envy how can you get hold on so many different sw,can you plz evaluate Wealth Labs actual user advantage over TradeSim.Now i am spooked,Monte Carlo or etc etc ? If God
could have given me more time & black box RAM.

Asish

An excellent software. Dumbfounded by its functionality. Much much much better than metastock.

Anything is better than Metastock.

If you know AFL, & do not want to rely on ready systems, AB is better than TS.

TS...
1] It do not have portfolio management.
2] No enough data compression on tick interval (AB shows tick data for one month in single screen...
for the same security TS shows for 3 hours).
3] TS is a system hog.
4] You can keep tick database even for one year in AB.... just cant even think the same in TS or MS.
5] AB switches between intervals (like tick to minute OR minute to hourly) in notime... TS can eat minute for the same.

One & only strength is ...'easy language'. its scripting language...easy & powerful. (not to mention wide availability of ready systems)


Ofcourse anybody should envy CV.....knows how to exploit the powers of the soft...he owns & creates exclusive systems in TS.


About wealth Lab... I never tried it but here are some reviews...

http://www.elitetrader.com/so/?actio...R_ProductID=58

I have not heard of a monte carlo simulator, or a neural network builder, or a portfolio back test/optimization addon for amibroker. Besides, the back tester of ami is poor, inflating numbers by a margin.


Having learned the basics of easy language, it is not easy in any respects. The name is certainly delusional. Besides, TS is not about the ready made systems (they hardly work). It's the most widely used trading platform, having n number of 3rd party addons, which other softwares can only dream of. Also, it's functional capability in programming is far superior and does not really warrant a comparison with amibroker.

If you have not heard monte carlo simulator in AB....you can create one or many like that in excel & integrate it with AB...that you cant do it in TS.

If you would have worked enough with neural nets... you wouldnt mention it.

What made you think that I decided.. its easy ..by its name. I found it very very easy compared to AFL...& powerful against MS.

People buys TS for systems more than for third party addons.

Considering functional capabilities of the language... AFL is bit more powerful than easy language. If you would know AFL enough, you wouldnt say its inferior.