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nizar
26th-August-2006, 08:12 PM
Hi all,

im thinking about getting some software at some stage in which i can set my criteria and the software can scan the market for me, and i need a realtime live data feed.

im wondering what you guys use for software and for live data feed ?

metastock and amibroker seem to be the most popular softwares and iv heard IRESS is also good. Metastock is about $1,700 and Amibroker $229, is metastock worth the massive premium?

i also need a program where once i have developed formula for a system, i can backtest it over a certain time period decided by me

any thoughts/ideas/opinions?

thanks

swingstar
26th-August-2006, 09:10 PM
I compared them a while back, although I'm yet to purchase either one.

From the research I did, Amibroker doesn't have a live Internet data feed for ASX available. You can only use MarketCast which is streamed via FM radio signal, so if you don't plan on leaving Australia, then Amibroker may work out the cheapest.

After purchasing, it'll only cost $200 or so a month for live ASX data.

For MetaStock, I found the most viable option was to just pay $600 a month or so which includes future updates and live ASX and US data. I can't quite remember what the actual cost for live data was, but it takes up most of that $600.

Milk Man
27th-August-2006, 07:18 AM
Anyone know where to get live forex data? My broker is oanda so I need to get as close to theirs as I can.

And yes dude, you can backtest different timeframes with AB. Even use multiple time parameters in the same backtest. settimeframeinweekly/daily/monthly? something like that.f

CanOz
27th-August-2006, 10:15 AM
I use Power Etrade. It has live data feed and all the features you need except stock scanning. I am looking for to purchase a stock scanner but in the meantime i subscribe to one offered on this site.

Power Etrade only costs 79.00 odd dollars per month and any brokerage is taken off this cost. Personally i think for newer traders like myself its a great way to go.

Let me know who you go with though, as i may change one day when/if i start to do this on a more full time basis.

Julia
27th-August-2006, 02:38 PM
I use Power Etrade. It has live data feed and all the features you need except stock scanning. I am looking for to purchase a stock scanner but in the meantime i subscribe to one offered on this site.

Power Etrade only costs 79.00 odd dollars per month and any brokerage is taken off this cost. Personally i think for newer traders like myself its a great way to go.

Let me know who you go with though, as i may change one day when/if i start to do this on a more full time basis.

Do you have a link for the scanner you are subscribing to?

Thanks

Julia

porkpie324
27th-August-2006, 04:56 PM
i'm using metastock EOD ver 9.1 bought it in june, its now my 3rd, have been using m/stock for 12 years now, the last version cost me usd $304 inc p&p.not sure where you get the $1700.porkpie

porkpie324
27th-August-2006, 05:02 PM
forgot to add, i use end of day data for metastock and my cfd providor for intraday which can be from 1 min to 1 day,works good for me but its best if you have 2 computors, porkpie

wayneL
27th-August-2006, 05:17 PM
i'm using metastock EOD ver 9.1 bought it in june, its now my 3rd, have been using m/stock for 12 years now, the last version cost me usd $304 inc p&p.not sure where you get the $1700.porkpie

I think 1700 would be for the intraday version.

I have both and prefer Amibroker for a few management reasons. But both are good.

Ami is obviously better value.

nizar
27th-August-2006, 05:19 PM
i'm using metastock EOD ver 9.1 bought it in june, its now my 3rd, have been using m/stock for 12 years now, the last version cost me usd $304 inc p&p.not sure where you get the $1700.porkpie

end of day is about $500
professional edition $1,700

i got it from the website http://www.metastock.ca/pricing.htm

tech/a
27th-August-2006, 07:51 PM
Ever thought of BULLCHARTS live trading package complete with TRADESIM???

wayneL
27th-August-2006, 07:53 PM
Ever thought of BULLCHARTS live trading package complete with TRADESIM???

Link?

tech/a
27th-August-2006, 08:50 PM
http://www.bullcharts.com.au/

I was asked to Trial Bullcharts a few years ago.I was suitably impressed.

Why am I not using it?
I already have M/S,Tradesim and Marketcast.

Like all live software and streaming data it aint cheap,but if your a serious trader you wont be cheap either.

CanOz
28th-August-2006, 12:24 PM
Do you have a link for the scanner you are subscribing to?

Thanks

Julia
http://www.stockscan.com.au

Here you go :)

Phantom_Trader
28th-August-2006, 10:15 PM
I have owned Metastock since version 6 to 9.1 end of day and have always got my data from Paritech. I only trade end of day but I have available to me hourly snapshots I can download. I have found them to be the most reliable. I have tried many over the years but have found it does everything I want it to do and sometimes discover new ways of using it. The mistake many make is that they try to learn all of Metastock at one time but the training CD you get with it now is brilliant. I've never heard of AmiBroker, have heard of OmniTrader but found it was only a cut down version of Metastock using its scanning function. I hope this helps. :)

Phoenix
30th-August-2006, 02:51 PM
It is not a question of which is better its more a question how much time you are willing to spend on it. Metastock is easier to use and the formula language is also more user friendly. I own both and prefer Amibroker because it does not restrict me. Amibroker has a steep learning curve and i'm a programmer so it was easier for me to learn. Hope this helps with your descision. Btw amibroker has a system where you can add your own real time data providers via a plugin called DD.... something its relatively easy to use. Better still trial amibroker before ya make your decision.

swingstar
1st-September-2006, 03:26 AM
For those who have used / use AmiBroker, who's a good provider to get historical ASX data from?

wayneL
1st-September-2006, 03:59 AM
For those who have used / use AmiBroker, who's a good provider to get historical ASX data from?

www.premiumdata.net is good

swingstar
1st-September-2006, 06:36 AM
www.premiumdata.net is good

Excellent - thanks.

omad
1st-September-2006, 07:23 AM
Btw amibroker has a system where you can add your own real time data providers via a plugin called DD.... something its relatively easy to use. Better still trial amibroker before ya make your decision.

Hey Phoenix,

Do you have a link to the plugin?

Thanks.

Sir Burr
1st-September-2006, 09:07 AM
It is not a question of which is better its more a question how much time you are willing to spend on it. Metastock is easier to use and the formula language is also more user friendly. I own both and prefer Amibroker because it does not restrict me. Amibroker has a steep learning curve and i'm a programmer so it was easier for me to learn.

:couch Just had to comment on this.

I see very little difference comparing what Metastock has in it's formula language compared to Amibroker.

The language is very similar except for the extra code for displaying charts in Amibroker. Although, with the fairly recent drag and drop chart addition in Amibroker this is as simple as Metastocks charting.

Like I said what Metastock has, Amibrokers code is almost idential BUT it has much more to offer if you wish to study further.

In my view, why pay heaps more for Metastock when Amibroker can do the same plus much much more than what Metastock has to offer.

I guess the only reason Metastock "seems" easier to use is because if comparing the user manuals Metasock is thinner! :)

SB

Milk Man
1st-September-2006, 09:11 AM
www.premiumdata.net (http://www.premiumdata.net/) is good

I'll second that; they're the best i've tried so far.

stevo
5th-September-2006, 05:52 PM
I am using www.justdata.com.au but previously used Paritech.

In terms of AmiBroker vs MetaStock I have used both extensively although I don't require intraday data. They are both products capable of system development, scanning and testing, although Metastock really needs TradeSim to shine when it comes to system testing.

My strong preference is for Amibroker. I rarely use MS these days although I used it intensely for some years. Changing was quite difficult but there are things I can do with AB that I struggled with in MS. I did develop my key systems on Metastock though.

You might like to look at Roy's site http://www.metastocktips.co.nz/ Roy is brilliant when it comes to coding MS and opened my eyes to system development possibilities.

I guess it depends on what you are trying to achieve since the program costs are relatively minor in the medium term - the real time data feeds will cost you a lot more.

Steve

bingk6
7th-October-2006, 09:27 PM
My strong preference is for Amibroker. I rarely use MS these days although I used it intensely for some years. Changing was quite difficult but there are things I can do with AB that I struggled with in MS. I did develop my key systems on Metastock though.
Steve

Could you kindly elaborate on what AB is able to do that MS might struggle with ? I am curious as to the capabilities and/or flexibility and/or ease of usage of the programming language of both these packages. Presumably, you are suggesting that the AB programming language is more powerful than MS and there are things that you can achieve with AB that you cannot with MS....

stevo
8th-October-2006, 08:51 AM
Could you kindly elaborate on what AB is able to do that MS might struggle with ?

I think that the last time I used MS (V 7.02?) was over a year ago so I have probably forgotten a lot of the features that it has. I also have quite an old version so I don't know how much better it might be now. I notice they have version 10 out.

For starters manually scanning through lots of stocks quickly. I set up wachlists with my current trades and can quickly flip through current trades.

I like the way I can set up each system on a tab and click on it to quickly change from one system to another.

AB code contains everything in the system in one place. From memory MS could have code in an explorer and also in a template. I am not into drag and drop and just code all the indicators and chart parameters, the buy and sell signals and the explores in one place.

I started with MS and moved across to AB. It took a while to understand just how it worked and how to replace the "PREV" function in MS. After a while I found that I did not use MS to check my stocks.

I am not sure how you would go trying to optimise parameters in MS across 500 stocks. AB also has 3D optimise charts that give a very nice visual on how the different parameters perform and interact. I can also use something like Intelligent Optimiser to do some pretty intense optimising.

But both packages can give a trader what they need to develop and trade systems - I prefer AB whilst others prefer MS. I am sure that I could go back to MS if I had to and trade just as well.

It should be noted that I trade quite long term and really only need weekly data so my circumstances will be different to many others. Data feeds and specific trader requirements and knowledge will have a bearing on which package suits.

regards
Steve

drawdown.blogspot.com

bingk6
8th-October-2006, 01:41 PM
I think that the last time I used MS (V 7.02?) was over a year ago so I have probably forgotten a lot of the features that it has. I also have quite an old version so I don't know how much better it might be now. I notice they have version 10 out.

For starters manually scanning through lots of stocks quickly. I set up wachlists with my current trades and can quickly flip through current trades.

I like the way I can set up each system on a tab and click on it to quickly change from one system to another.

AB code contains everything in the system in one place. From memory MS could have code in an explorer and also in a template. I am not into drag and drop and just code all the indicators and chart parameters, the buy and sell signals and the explores in one place.

I started with MS and moved across to AB. It took a while to understand just how it worked and how to replace the "PREV" function in MS. After a while I found that I did not use MS to check my stocks.

I am not sure how you would go trying to optimise parameters in MS across 500 stocks. AB also has 3D optimise charts that give a very nice visual on how the different parameters perform and interact. I can also use something like Intelligent Optimiser to do some pretty intense optimising.

But both packages can give a trader what they need to develop and trade systems - I prefer AB whilst others prefer MS. I am sure that I could go back to MS if I had to and trade just as well.

It should be noted that I trade quite long term and really only need weekly data so my circumstances will be different to many others. Data feeds and specific trader requirements and knowledge will have a bearing on which package suits.

regards
Steve

drawdown.blogspot.com

Many thanks !!

chops_a_must
8th-April-2007, 08:15 PM
I'm looking at getting one of the following in the next few months, so I have some questions.

Can someone explain to me the reason for the difference in price between Metastock and Amibroker? For the price of the basic Metastock 10, I can get the Amibroker Professional version (in case I want to advance my trading into the future).

Have the metastock bugs been ironed out?

Is the price difference simply because the metastock coding is much easier?

It seems like a no-brainer to me, but maybe there is something I am missing...

Cheers,
Chops.

constable
8th-April-2007, 08:49 PM
I'm looking at getting one of the following in the next few months, so I have some questions.

Can someone explain to me the reason for the difference in price between Metastock and Amibroker? For the price of the basic Metastock 10, I can get the Amibroker Professional version (in case I want to advance my trading into the future).

Have the metastock bugs been ironed out?

Is the price difference simply because the metastock coding is much easier?

It seems like a no-brainer to me, but maybe there is something I am missing...

Cheers,
Chops.

Chops from my "limited although heavy" experience, trading has got sfa to do with available data. I recently bought metastock v10 and it throws up more oppurtunities than i know what to do with. BUT at the end of the day it boils down to what YOU can do with that info.
I wouldnt know what to do with 80% of what meta stock has to offer but i ask myself do i need it to to be a successful trader? For me its a NO.
Ive come to the realisation that you can screw up the best of oppurtunities regardless of how they are presented.
Which basically means that to be successful you need to be a
- mechanical trader
- or a strong discretionary trader

no fuzzy lines in activating stop losses.
Psychology is the single most important variable.
T/a or F/a it doesnt matter if you cant handle the stress or pressures pushing and a pulling your emotions.
Ive screwed up many would be successful day trades simply because i didnt have the nuts to hang on.
There should be more courses/programs helping you to attain a trading zen!
My 2 cents anyway!! Hope you find what your looking for!

wayneL
8th-April-2007, 10:09 PM
I'm looking at getting one of the following in the next few months, so I have some questions.

Can someone explain to me the reason for the difference in price between Metastock and Amibroker? For the price of the basic Metastock 10, I can get the Amibroker Professional version (in case I want to advance my trading into the future).

Have the metastock bugs been ironed out?

Is the price difference simply because the metastock coding is much easier?

It seems like a no-brainer to me, but maybe there is something I am missing...

Cheers,
Chops.
As a user extensively of both, Amibroker is a no-brainer IMO... and it is improving all the time as well.

CanOz
20th-June-2007, 03:48 PM
Hello All,

I'm after some advice please.

I've interested in hearing from posters who have used both products and which one they now prefer and why?


Thanks in advance...

I've had my copy of AB for two months now...and although the language has and will be a challenge for me, it still has many advantages like:

1.) the ability to scan the market EOD for all kinds of patterns and oppotunities, Backtesting with speed!

2.) a built in wizard to help with AFL

3.) Great support, constant updates and really cool library, Pattern Explorer and other plug ins and add ons.

4.) Value, Value and oh, did i say Value.

I agree, its a no brainer.

Cheers,

Chorlton
20th-June-2007, 03:53 PM
Hi All,

Regarding specifically backtesting capabilities, which one would others recommend and why?? Metastock v9 or AmiBroker ??

Thanks...

Chorlton
20th-June-2007, 03:58 PM
I've had my copy of AB for two months now...and although the language has and will be a challenge for me, it still has many advantages like:

1.) the ability to scan the market EOD for all kinds of patterns and oppotunities, Backtesting with speed!

2.) a built in wizard to help with AFL

3.) Great support, constant updates and really cool library, Pattern Explorer and other plug ins and add ons.

4.) Value, Value and oh, did i say Value.

I agree, its a no brainer.



Cheers,



Thanks for the reply CanOz,

My PC crashed as i pressed submit during my last message so didn't have time to finish it....

As a result, what I'm specifically interested in is the BackTesting functionality, and how it compares to Metastock??

PS. At this rate I may need a new laptop as well :(

mrWoodo
20th-June-2007, 04:24 PM
3.) Great support, constant updates and really cool library, Pattern Explorer and other plug ins and add ons.


Gday Canaussie,

Have you tried PatternExplorer? Funny you mention it today, I registered last night :) I wanted it for the Pattern Detection mainly. Only had a couple-hour play - I've found that you can't use the Pattern Detector in backtesting, it only applies Patterns against the last bar of data :( Apparently the bar-replay function of Amibroker will let me retrospectively look at patterns (but not backtest).....Will give it a go tonight.

woodo

tech/a
22nd-June-2007, 08:35 AM
Ah the problem with this idea of retrospectivly looking at how patterns went in a system (If you could do it!!)

Is similar to the problem with the Zig Zag Function.

The pattern ofcourse will appear as a completed pattern in testing because history has completed and the pattern is evident.

In REALTIME,you'll take a trade in a pattern only to see the pattern breakdown which of course negates the trade.
This breakdown cannot be seen in backtesting as it wont have been taken as a trade (In hindsite). As the pattern that was at the time of the trade is no longer evident.

Takes a while to get your head around this but after youve investigated it a bit you'll see what I mean.

bingk6
22nd-June-2007, 09:21 AM
Hi All,

Regarding specifically backtesting capabilities, which one would others recommend and why?? Metastock v9 or AmiBroker ??

Thanks...

When you are talking backtesting on just purely MS (not including Tradesim) vs Amibroker, Amibroker is miles better. There is NO comparison PERIOD. Amibroker's AFL language is a far more powerful and flexible language than MS, in that it is essentially a programming language in its own right.

For anybody that has any kind of programming experience, Amibroker is without doubt the one to use. Having said that, because of the flexibility in AFL, there is also a significant learning curve (a point that has been raised before) and maybe therefore not be suitable for everybody.

Looping support is one major area that really separates Amibroker from MS. GP has put forward an excellent document on the usage of looping which illustrates what can be achieved with a powerful programming language. http://www.aussiestockforums.com/forums/showthread.php?t=7206

Therefore, the choice of Ami vs MS really comes down to the individual. If you are prepared to put in the hard yards and get down to the nuts and bolts of programming, AFL has the ability to support you.

I converted to Amibroker some 3-4 months back (from MS V9), at the suggestion of a poster here at ASF (Many thanks Glen), and have not looked at MS V9 since.

Just my :2twocents

TheMailMan
2nd-September-2008, 05:36 PM
I agree with bking6..
It is true that AB may have a steap learning curve for those who don't program. Also to add to that is the documentation is written in sub-optimal polish english. But I hear a good book is "Quantitive Trading Systems"...

It makes sence to me that the newer AB (written in plain C I think) would be more modular, and much faster than its archaic counterpart MS (though I am not sure how MS is programmed, its engine is old). Plenty of room to move in AB as a result of speed and modularity.

I chose AB, not really having any first hand experience with MS, based on my own research, and a very convincing presentation at ATAA.

theasxgorilla
2nd-September-2008, 06:41 PM
It makes sence to me that the newer AB (written in plain C I think) would be more modular, and much faster than its archaic counterpart MS (though I am not sure how MS is programmed, its engine is old). Plenty of room to move in AB as a result of speed and modularity.

I don't what MS uses either but having coded some in a past life I always felt confined when coding in MS. When ever I code in AB I always try to do it in a nice structured way because I know in the future I may want to build on it and AB lends itself to that task rather well.

howardbandy
8th-September-2008, 04:33 AM
Greetings all --

I am the author of Quantitative Trading Systems.

If you are interested in the development and testing of trading systems, AmiBroker is head and shoulders above MetaStock, and much more reasonably priced.

The book, Quantitative Trading Systems, uses AmiBroker as the trading system development platform to illustrate the topics about design and testing of trading systems. And it contains enough about AmiBroker that you can start from scratch and learn enough about AmiBroker to use it.

I am also the author of Introduction to AmiBroker.

This is a new book that will go to the printers in about one week and be available to customers at about the end of October. It is both a tutorial and a reference manual. You can learn more about the book (and order a copy at its pre-publication discounted price) at its web site:

www.introductiontoamibroker.com

The web site has been up just a few days and is not yet complete and polished, but you can see the covers (the back cover outlines the book) and the beginning of the Table of Contents. More will be added shortly.

(Over half of the sales of Quantitative Trading Systems go to address outside the US, and over half of those go to Australia. Most of the pre-publication orders already placed are going to Australia.)

Thanks,
Howard

bluey1937
9th-September-2008, 01:27 PM
Hi, You should look at Phoenixai, you can get it on special from the Inside Trader. End of day data is $29.00 pcm, Intraday $48.00 pcm. Other bits of their program include Hawkeye, Alerts, Inquirer Scanner, Backtester etc all at low cost. You can search on Fundamentals, Technicals & Neilsen Smart Money. It is a pretty good product, It doesn't have a pattern search facility. But there is Nebadawn, CPfinder, Protrader V5 & Patternz for pattern searches.

Bluey

CanOz
9th-September-2008, 02:13 PM
Greetings all --

I am the author of Quantitative Trading Systems.

If you are interested in the development and testing of trading systems, AmiBroker is head and shoulders above MetaStock, and much more reasonably priced.

The book, Quantitative Trading Systems, uses AmiBroker as the trading system development platform to illustrate the topics about design and testing of trading systems. And it contains enough about AmiBroker that you can start from scratch and learn enough about AmiBroker to use it.

I am also the author of Introduction to AmiBroker.

This is a new book that will go to the printers in about one week and be available to customers at about the end of October. It is both a tutorial and a reference manual. You can learn more about the book (and order a copy at its pre-publication discounted price) at its web site:

www.introductiontoamibroker.com

The web site has been up just a few days and is not yet complete and polished, but you can see the covers (the back cover outlines the book) and the beginning of the Table of Contents. More will be added shortly.

(Over half of the sales of Quantitative Trading Systems go to address outside the US, and over half of those go to Australia. Most of the pre-publication orders already placed are going to Australia.)

Thanks,
Howard

No chance of a PDF Howard?

Cheers,


CanOz

howardbandy
10th-September-2008, 08:28 AM
Greetings all --

No, no pdf -- at least not for the foreseeable future.

But Introduction to AmiBroker is a very nice printed and bound book. It is part tutorial, part reference manual. I think most people will have their copy tabbed and keep it open on their desk as they are working -- either charting or coding AFL. At 608 pages, a printed pdf is pretty unwieldy. Mine (the draft as I was writing the book) took up two large three ring binders.

The book's web site is:
www.introductiontoamibroker.com

Thanks,
Howard