Stocks & Commodities V. 23:1 (74-77): Product Review: TradingSolutions by Dennis D. Peterson
Neural network predictions can be a useful tool in your arsenal of analysis techniques, and TradingSolutions makes that possible. Its latest release, version 3.0, is a highly versatile set of software. The product has a unique user interface that with some practice I think you’ll find fast and easy to use.
There are two concepts used by TradingSolutions (TS) that are helpful to understand before giving this software a try. The first is its organization of your data into what are referred to as fields, and the second is what is referred to as an optimal signal. If you think about the steps you need to go through to use a neural network, the fields make sense, and consequently, so do the menu items and pulldown lists.
First on your list of steps to go through is the import of raw data. You can interface with four datafeeds (eSignal, IQFeed, Prophet, and QuotesPlus) in addition to the free TS Solution Service. You can also go to the TradingSolutions website and navigate to a list of static data, along with explanations on how to import it (http://www.tradingsolutions.com/resources/data.html).
You might want to take a look, as the list of sources itself is interesting. I tried one symbol of Yahoo! Finance end-ofday data. It was quick and easy to retrieve the data and put it into TS format. I then discovered a neat feature of TradingSolutions: The trading symbol for static data is available if you should switch to a datafeed such as eSignal. All I had to do
was change my data source, and I could do this for one item in a group, an entire group, or the entire portfolio.