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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Jenna who wrote (97474)5/14/2000 9:09:00 AM
From: WaveSeeker  Read Replies (1) of 120523
 
Re TradeStation:

One day we're going to have the ultimate trading software that incorporates the best elements of MetaStock / TradeStation with the integrated order execution of a direct access broker; this type of software will essentially close the loop. For example, suppose I have a number of backtested trading scans / strategies. I'd like to run them in real-time, automatically generating the orders and submitting them through an ECN. The positions are tracked in real-time, and stop losses and/or profit targets become active at the same time the order is submitted.

Maybe someone can convince MetaStock to develop an integrated order execution capability and use the Pristine ESP functionality for delivering real-time alerts. Here's a laundry list for the ultimate trading software:

1. System Development / Backtesting (TradeStation)
2. Technical Analysis (MetaStock)
3. Real-Time Scanning (Telescan, First Alert)
4. Real-Time Alerts (Pristine ESP)
5. Quotes and Charts (QCharts)
6. Integrated Order Execution (RealTick)
7. Position Management (TradeStation)

Unfortunately, TradeStation suffers from poor implementation (crashes several times a day) and expensive pricing; it's the best "concept" software out there ;-). I wish everyone could develop a compressed feed as Quote.com did with QCharts (in contrast with RealTick, a pig that feeds at the bandwidth trough). Okay, how about another wish? Custom scans for ESP! The ESP integration with RealTick is excellent. Now how do we get RealTick to strike a deal with MetaStock to use their charting / TA engine?

First Alert: love the simple, real-time scans but the charting is an after-thought. MetaStock: the Explorer in real-time is too slow (as stated in documentation). QCharts: When are they going to get a server we can count on?

Forgive the Finnegan's Wake-like ramblings. Still holding out for the ultimate trader's software.

WS
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