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It was a great lineup of speakers with a promising product. I find it unfortunate that the product they showed is in relatively early development as such the product is hard to evaluate. However, what they demonstrated seems solid and intuitive. I signed up for the beta programme before the webinar and look forward testing the product. I am awaiting a pricing announcement to evaluate if it will be worth the overhead
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,057 since Dec 2013
Thanks Given: 4,409
Thanks Received: 10,225
If your familair with XTrader I think you'll find that the finished product will effectively be XTrader 8.0. Given that, and the fact that it looks like TT are about to start supplying their own infrastructuire and hosting I would speculate that it will be more expensive than the current XTrader product.
The thing that shocked me was the announcement that TT will be providing the infrastructure for the co-located part of the solution. There are many FCMs and technology companies that have spent a lot of money in being able to provide cutting edge hosting solutions. Looked to me like TT is potentially going to cut them out completely.
FCM's still make their commission, but with less hardware infrastructure costs and support. They'll need to focus on other wise to differentiate themselves.
Sort of the mantra of the company since the early days...cut out the competition and set the market (all which is fine with me).
I wasn't able to attend live, but as a XT user I thought the webinar was a good presentation of the new platform. The changes to the audit trail really helps simply some things in regards to workspace management and record keeping. Also, adding the tab to MD Trader in order to switch between contracts is a very nice addition.
What do others think of platform being web based? I am not as computer savvy as others, but I've always felt the connotation with web based platforms was slower speed/performance. Obviously, speed is not something that TT would overlook, but does anyone have thoughts on this?
If you can keep your wits about you while all others are losing theirs, and blaming you....The world will be yours and everything in it, what's more, you'll be a man, my son. - Kipling
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,057 since Dec 2013
Thanks Given: 4,409
Thanks Received: 10,225
Interesting. I would view TT and Tradestation as very different products, with very different uses and purposes. What type of things would you look to convert over?
Based upon TT's XTrader 7.17 release my hopes and expectations for Nextrader have been significantly reduced. I've never thought TT did a good job properly testing new releases, but 7.17 set new lows.
I am moving to a firm where all traders use TT. So I dont really have a choice of platform/broker unless it is really bad. Plus, there is heavy emphasis on trading spreads here instead of outrights and TS is not really built for trading spreads.
As long as I can annotate charts using my code I should be OK. I looked at the TTAPI and its .NET based so I should be able to use data structures much better than I can in TS. Browsing through the reference docs, I could see it has most of the elements related to T&S that I would need to capture.
What kind of programming/strategies would you say TT is not appropriate for?
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,057 since Dec 2013
Thanks Given: 4,409
Thanks Received: 10,225
XTrader is known as a professional traders tool as opposed to a retail trader tool. It's API, Autospreader, Autotrader and ADL modules are all excellent. It's Excel/RTD interface is as good as I have ever seen. Spreads, Butterfly's you name it, XTrader can handle it. All things that I would have said were weakness's of Tradestation.
What XTrader is not known for is it's charting or technical analysis, and it can't be used for back testing. Two things that I would have said that Tradestation was known for.
I would add that many of the issues people have with TT are actually caused by their brokers and not a function of TT. Hence having a good broker setup/infrastructure (or more importantly NOT having a bad one) can be important.
What kind of functionality are you looking for? I've found X_TRADER to handle everything I've required very well. As noted earlier, andr I've heard this before, most field problems I heard with tt has been related to the broker, not the software. The new tt platform is ASP so they're taking bad FCM support out of the equation. I'm in Chicago and most of the legit prop shops carry and push tt because it is reliable. Regarding the charts, I hear that's already been cleaned up in the new platform as they partnered with another vendor for more history.