Odds Maker versus TradeStation, Wealthlab, CyberTrader and Other

Odds Maker versus TradeStation, Wealthlab, CyberTrader and Other

Nov 2, 2006

Since we launched the Odds Maker beta in September many have asked the question. Why are you guys so excited about back-testing? It has been around for a long time and other software products like TradeStation, Wealthlab, Metastock, and CyberTrader all have their own back-testing modules. What is the big deal? Here are the real important differences for your bottom line.

Their version of backtesting is much different from ours. It is a matter of a stock versus a strategy. Given a strategy, they pick which specific stocks work best with that strategy. Instead, we let users create different strategies and our software finds stocks that match those strategies in real-time. The difference is night and day.

Let’s say you want to find out if new 30 day highs are following through. Just set up a Trade-Ideas window with 30 day highs and run the Odds of a stock being higher 5, 15, 30, minutes from when you bought, or maybe its better to hold until the close or the next open. Perhaps this strategy does not work on the long side and is better as a short.

Those answers are instantly delivered to via the Odds Maker. Test a sector or a custom portfolio for any pattern to see how the stocks behaved before risking capital. That is the key advantage, once you find a strategy with good odds, Trade-Ideas will notify you in real-time when stocks match the pattern.