Trading Recipes vs. Wealth Lab
Posted: Tue Mar 08, 2005 8:19 pm
Hi
I've done all the searches thru this forum and several others including ET and traderclub.com, and i'm still confused as to which testing software to use
My main criteria is a software that is:
1. Capable of undertaking single contract testing of trading strategies
2. Examining the impact of various position sizing ideas with those trading strategies
3. Capable of doing portfolio analysis across mkts and trading strategies, eg. calculating correlations b/w trading strategies etc
4. Flexible program that allows most strategies and portfolio analysis to be programmed
5. Language that is logical/intuitive (i'm mathematical but not a professional programmer)
6. Not so worried about the $ cost, but more in terms of the 'lost' time to learn about the software if i had to switch down the track
After all my searches, i've narrowed it down to Trading Recipes & Wealth Lab, given they are the 2 which are currently available, most 'talked about', and can do the portolio analysis i'm talking about. (I'm not keen to wait for the releases of WinTR or VT 2.0, given i want to start testing quickly and would want to concentrate my energies on TR or Wealth Lab, and not both)
While all the other posts have been on TR vs VT or other sotware, i've yet to see posts on TR vs Wealth-Lab. While i understand the subset of users who use both software are small, i would appreciate if someone cld point out the pros and cons of TR vs Wealth-Lab.
Currently, i see the following points on TR and WealthLab:
TR
1. Dos based, which is ok with me except in its interface with Excel
2. Language is intuitive
3. Slow(?)
4. Can't see the code/formula behind the language (eg. if i want to make sure the calc of a MA is ok, i would have to run the same thing on excel and check the numbers, rather than look at the formula in TR) (?)
5. Built specifically for portfolio analysis so code is less clunky (?)
Wealth-Lab
1. Windows based
2. Language not as intuitive
3. Less formulas hardcoded so can check the formulas in your code (?)
4. Slow (?)
5. Portfolio Management more an add-in, rather than built specifically for that purpose, so code is clunky (?)
Given i don't have the TR software and still working thru the Wealth Lab demo, points 3,4 & 5 are the impression i get from the posts i've checked
Would appreciate any thoughts others might have on this
many thanks
jim
I've done all the searches thru this forum and several others including ET and traderclub.com, and i'm still confused as to which testing software to use
My main criteria is a software that is:
1. Capable of undertaking single contract testing of trading strategies
2. Examining the impact of various position sizing ideas with those trading strategies
3. Capable of doing portfolio analysis across mkts and trading strategies, eg. calculating correlations b/w trading strategies etc
4. Flexible program that allows most strategies and portfolio analysis to be programmed
5. Language that is logical/intuitive (i'm mathematical but not a professional programmer)
6. Not so worried about the $ cost, but more in terms of the 'lost' time to learn about the software if i had to switch down the track
After all my searches, i've narrowed it down to Trading Recipes & Wealth Lab, given they are the 2 which are currently available, most 'talked about', and can do the portolio analysis i'm talking about. (I'm not keen to wait for the releases of WinTR or VT 2.0, given i want to start testing quickly and would want to concentrate my energies on TR or Wealth Lab, and not both)
While all the other posts have been on TR vs VT or other sotware, i've yet to see posts on TR vs Wealth-Lab. While i understand the subset of users who use both software are small, i would appreciate if someone cld point out the pros and cons of TR vs Wealth-Lab.
Currently, i see the following points on TR and WealthLab:
TR
1. Dos based, which is ok with me except in its interface with Excel
2. Language is intuitive
3. Slow(?)
4. Can't see the code/formula behind the language (eg. if i want to make sure the calc of a MA is ok, i would have to run the same thing on excel and check the numbers, rather than look at the formula in TR) (?)
5. Built specifically for portfolio analysis so code is less clunky (?)
Wealth-Lab
1. Windows based
2. Language not as intuitive
3. Less formulas hardcoded so can check the formulas in your code (?)
4. Slow (?)
5. Portfolio Management more an add-in, rather than built specifically for that purpose, so code is clunky (?)
Given i don't have the TR software and still working thru the Wealth Lab demo, points 3,4 & 5 are the impression i get from the posts i've checked
Would appreciate any thoughts others might have on this
many thanks
jim