RealTick 8.5
Townsend Analytics, Ltd.
100 South Wacker Drive, Suite 2040
Chicago, IL 60606
(800) 827.0141; (312) 621.0141
Overall Rating: Four discs
Level: Products range from beginner to advanced.
Pricing: Varies by product and data from $150 to $250 a month plus exchange fees.
System Requirements: Internet connection- broadband, Pentium 3 or 4, 1 Ghz, RAM (Physical) 128 MB, Operating System- Windows XP or Windows 2000 and video RAM of 16 MB per monitor.
Having reviewed RealTick 8.0 about 18 months ago, we will take a look at its evolution through the recent series of updated versions with the latest version: 8.5.
Large retail and institutional traders need sophisticated charting and fast, versatile order execution. While both remain integral parts of trading, it is important that retail traders find a balance between using a trade execution system, which lets the trader control order execution based on conditions of his choosing, and charting that provides order execution rather than making him a paper technical analyst.
This can only happen if the retail trader has tools he can easily understand. The new RealTick 8.5 integrates real-time quote displays, technical analysis and direct access trading — merging information and utility to give traders exceptional trading insight. A nice feature is that the platform is supported by a variety of brokers, hence giving traders the power to choose and change brokers.
Depth of features: Four discs
RealTick has a suite of products where traders can tailor tools for their needs. RealTick Analyst features charting and technical analysis and fundamental data and market-monitoring tools, but does not include level 2 data. RealTick Pro includes TurboOptions, which is an option quote screen that provides an unlimited number of option quotes plus near-term options and LEAPS. RealTick Pro Plus features: Level 2 MarketMaker windows, which dynamically list bids and asks for a selected symbol sorted by distance from the inside market. RealTick with order entry has a subscription level for active online traders that combines advanced data capabilities with order entry panels.
The latest round of RealTick enhancements provides “list trading” features and functionality that includes order management system (OMS) integration; risk controls; the ability to work order tickets within the MarketMinder or in other RealTick order entry windows; and the ability to create and manage a list as a single order and apply bulk actions such as cancels-across-all or a subset of orders within a list.
Along with the new features, you will still find RealTick’s original features, which include its ticker, where traders can view the trades or market maker movements on a single stock or a list of stocks; market maker, which displays real-time level 2 data and open book for futures, Nasdaq and the New York Stock Exchange (NYSE) market minder, which provides more than 1,000 fields of live quote and fundamental data; and TAL chains, a proprietary scan generated by Townsend Analytics to examine stocks based on different criteria.
RealTick also has a forex window that displays detailed information on foreign exchange rates in a fully configurable table format. Retail and institutional traders can now electronically trade fixed-income offerings from the NYSE right along with stocks, options and other asset classes.
Other enhancements include a streamlined strategy selection process for placing algorithmic orders; easier navigation to better manage and monitor order flow; on-screen editing functionality in the chart window; and new spread management tools.
Charting and trade execution interface: Four discs
RealTick 8.5 has an extremely user-friendly charting interface that allows cascading of windows that track and trade contracts in real time. Traders can choose from the following types of charts: intraday, tick bars, daily, weekly, monthly, trades, time and sales and seasonal. The software supports a number of market minder windows, which display a wide array of information on user-selected sets of instruments. Traders can link a market minder window to an order minder that can filter by symbol to build a stock-specific order history window. They can view order details in real time using order minder and its advanced filtering. Also, they can activate a conditional or deferred order from their order minder window with a single right click.
Traders also can view account positions and profit-and-loss in real time using position minder. The basket minder allows traders to quickly place multiple trades at once.
RealTick has greatly reduced the need for a proprietary technical analysis software and is offering a substantial charting facility bundled with a trading platform.
Advanced technical scanning formulas let traders quickly find stocks that meet specific predefined criteria. RealTick supports order execution via charts and displays live orders and position information directly on a chart.
The charting package is adequatewith all standard trend-following indicators and oscillators. Other tools include Hottrend, Mergent global company data, Zacks Research, News Services, the Mind Over Markets newsletter and the ASCTrend. Everything is included with Pro Plus Order Entry except the Oz Scanner, which costs an additional $20 per month.
Technical Support: Four discs
The RealTick staff goes the extra mile to make things easier, by phone as well as via a Web meeting. Traders can learn about RealTick features, additional tools and trading advice through a unique series of RealTick workshops, which feature hands-on training, demonstrations, shortcuts, tips and discussions.
There is also support self-help that has tests for common problems like connectivity and system checks.
As for installation, the software is Web-based and as soon as the login and password are entered, it scans the system for minimum requirements. It loads automatically and was a hassle-free.
Summary
RealTick 8.5 has substantially improved the entire trading experience, both by technology enhancement and increasing feature flexibility. This software provides an integrated platform for direct-access trading and is an efficient charting software. However, it would be helpful if future versions offered backtesting strategies. A powerful trading software needs equally robust strategies to be used to its full potential.
Ashwani Gujral is a technical analyst, author and trainer who follows the U.S. and Indian markets. Based in New Delhi, India, he wrote the best seller How to make money trading derivatives: An Insider’s guide. E-mail: contact@ashwanigujral.com.
Note: The correct phone number for the February software review, Trade Navigator Platinum V.3.01, should be (800) 808-3282. Futures regrets the error.
