From the July 01, 2009 issue of Futures Magazine • Subscribe!

Tradecision 4.6

Tradecision 4.6

Professional Real Time Edition

Alyuda Research, Inc.864 Terrace Dr.Los Altos, CA 94024, USAPhone: (510) 931-7808Fax: (510) 279-5649E-mail: sales@tradecision.com

Web site: www.tradecision.com

Rating: 3 of 4

Product: Professional-level trading software application, enhanced with portfolio-level backtesting, exclusive studies, genetic algorithms, and neural networks

Requirements: Windows XP or Windows Vista, 1G+ RAM, 40MB+ hard-drive disk space, Internet access (end-of-day or intraday data downloads)

Price:$1,995 for Professional Real Time edition (NeatScan Market Scanner included)

Trading software is ubiquitous these days. Everywhere you look, someone is selling the latest, greatest software that will be just the tool you need for successful trading. The key to success, though, is finding software that performs as advertised, helps you make money, and has functionality and aesthetics that fit your personal trading style. Tradecision 4.6 may or may not be the trading software for you, but it is worth looking at before you make your final choice about which software you will use.

Product Overview

Tradecision 4.6 does perform as advertised. Whether it can help you make money is really up to you and your trading style, as the software provides every imaginable analytical tool. If you are a technical trader with a bent for highly sophisticated tools, this is the software for you. If so inclined, you can build models, back test, develop strategies, tune technical indicators, set up alerts, define interdependencies, monitor trades in real time, and execute trades online. These examples are but a few of the tools available to you.

Functionally, you set up your own portfolio, analyze for potential trades, and then execute a trade with an online broker. In the Tools section, click on “Preferences.” Then click on “Integrated Trading.” Here you can choose from five trade brokers: FOREX.com, IB Basic Simple, Interactive Brokers, Man Financial and TD Ameritrade. Of course, you can use your own broker and the associated trading platform independent from the software, but the option to use Tradecision 4.6 as a trading platform is available. Although not as sophisticated as some trading platforms out there, it does work, which is the important part when you want to make a trade.

As to finding potential trades, Tradecision 4.6 offers a multitude of tools. If you are an advanced trader with a propensity for highly technical analyses, it is hard to imagine getting more from another software package. For example, you can define and build your own custom indicators, as well as import or export those of your choosing. In the “Function Builder” section under Tools, upwards of 75 custom functions preexist, ranging from accumulation/distribution to Z Score. In the same section, you can edit every one of those to meet your specific analytical criteria. You also can import (as well as export) functions that you like. The Improvian Trading Language Option feature allows you to develop high-level, custom trading strategies.

Simulation, Phase Rove and Custom Time Series add to the potential analytical tools, but the one that simplifies all of the work once you establish your filters is the Neat Scan. With this feature, you can use the preexisting filters, build your own, or you can import or export those you use elsewhere. Once you establish or select your parameters, click on your scan selection and those markets that fit your criteria will pop up.

This software is so packed with analytical tools one would need more space than what is here to go through all of them. Perhaps it is overkill, as it begs the question, how many ways can you view a market? At some point, as with professional analysts, you will find contradictory conclusions based on the same data. Then again, if confirmation is what you seek of all potential trades, you have choices as to which tools offer the best confirmation.

Pros

The “thinking” underneath the interface derives from a Neural Network, a highly sophisticated program of algorithmic processing.

Tradecision 4.6 is functionally solid, including the Data Manager, which is critical.

It is analytically comprehensive in scope.

Navigation is easy.

Titles are accurate.

Charts are clean and easy to read.

The help section is excellent.

The price is right for what you get.

Cons

Tradecision 4.6 focuses on advanced-level technical analysis (too advanced for beginners)

Phone support is not offered.

More does not necessarily equate to better.

Conclusion

Tradecision 4.6 is a powerful and comprehensive software package designed for those with advanced skills in technical analysis. For those who are not so advanced, this software might be for you, although there are less expensive ways to learn advanced technical analysis. If, however, you are looking to simplify your trading analyses, other software packages are available that are less expensive, offer less choices, and provide a simple one, two, three approach to finding and selecting potential trades.

Brandon Jones is an entrepreneur, writer and educator. He trades on a regular basis to maintain and improve his portfolio return.

Comments
comments powered by Disqus
Check out Futures Magazine - Polls on LockerDome on LockerDome