Note: We did not develop nor do we work for TradersStudio, Inc. We are just a satisfied customer. MindFire Systems now uses TradersStudio as our development platform to conduct our own trading systems research.
What is TradersStudio and The Second SECRET of Success
What is TradersStudio software. Well, before you can actually use any computerized trading system, you need software to run the trading system. The trading software handles the actual running of your system. Once you give it a data file, it runs your system, tells you how the system did with lots of statistics, shows your current position and generates tomorrow's orders.
Now the most expensive trading software will also do a whole lot more. It will do things like plot your data in a chart, show you buy and sell arrows to tell you which days you entered and exited previous trades, apply various money management schemes to your system, and give you not only individual commodity or stock performance results but also a summary of portfolio statistics. A good exit is the first secret to trading system success but the second secret is Portfolio analysis. It is a SECRET vital to your success. Some groups of commodities behave nearly identical. Putting them in a portfolio does nothing to diversify your portfolio. By trying different commodities or stocks, you may be able to create a robust portfolio where one commodity happens to be "zigging" while another is "zagging". The result may be a package that is relatively smooth in its performance over the years.
Now, as promised, here is more information about TradersStudio, the software we used it to create this new generation of Catscan 4. TradersStudio is a system traders dream come true. One very common trading software package is called TradeStation. Remember when you could buy TradeStation for $2500, and use any data source you wished? Well, you can't do that anymore. Now, the company that makes Trade Station requires you to lease it paying leasing costs forever. And you can only use Trade Station's own price data. But with the new TradersStudio, you can use any data source. Why is this important? Well, when Futures magazine tested data vendor price accuracy, it was a company called CSI that came out #1 in accuracy. (we use CSI and another company called Genesis for our own data source.)
Scores of our customers have asked us to do portfolio analysis of a specific group of commodities they wish to trade. Unfortunately, it is so time consuming that we've usually had to say no. Before TradersStudio, we had to run each individual commodity in TradeStation, then save each of those commodity results in separate files. At that point, we would need to switch to Portfolio Analysis software (We used Rina Systems software), then import all of those individual commodity files into the Rina Systems software.
Now, with TradersStudio, you can do your own personal portfolio analysis with ease.
You need this capability. It’s another big part of the key to successful trading.
Other benefits and features of TradersStudio include:
Money Management - you can incorporate money management methods, such as fixed fraction or optimal f, to determine how many contracts of each commodity to trade. Before TradersStudio, we bought Optimal f software for $1000 to test money management, and it didn't work well, however, the money management system in TradersStudio works just the way that it should.
You can optimize at the portfolio level in portfolio analysis. Other software doesn't allow you to do this. Before TradersStudio, we checked out Trading Recipes, which sells for $2500. It allows you to do portfolio analysis, but you can't optimize anything at the portfolio level. TradersStudio gives you the best of both worlds.
You can optimize a large list of stocks or commodities. You used to be able to do this in TradeStation, but they took that feature away. TradersStudio lets you create a list of stocks or commodities, and it does the entire list plus the overall portfolio in one session.
TradersStudio has a built-in EasyLanguage translator, which means that you don't have to rewrite most code if you have been using a different system and the Trade Station platform.
Without the use of TradersStudio, your total cost to do a halfway decent job of system testing and portfolio analysis ,(but still without portfolio optimization capability), would be:
Total Cost: $5500+ (I personally spent much, much more than this and still didn’t have all the TradersStudio features.)
TradersStudio will do all of these things and save you quite a bit of time and money, which are our most valuable commodities! The TradersStudio 2.5 software is a real bargain selling for $699. But they currently have the entire software package on sale for $499, a price you may never see again.