Why you would use Tick Zoom over something like MetaTrader?
Someone posted this on Linked In:
The one I use for trading was built in-house because nothing else met our needs for “hands-free” automated trading with fast tick/bar testing, nested portfolios, and hundreds of strategies running in parallel. Over the past 18 months, 3 other medium institutions funded adding more capabilities to TickZoom for their needs including multiple nested portfolios, thousands of parallel strategies, FIX support, custom/dynamic bars, and so on. One institution has in-house developers who have extended it themselves with other capabilities since it’s mostly open source.
Ninja was a nice system and the last one that I used before starting my own. It’s only weakness for myself was the poor performance with tick data in historical testing and lots of room for improvement with handling of orders. In TZ, for example, order flow is totally automated so strategies never deal with tracking order, partial fills, cancel/replace, etc. Also in 6.5. it didn’t synchronize with the account automatically after any disconnection. Hopefully they fixed that in 7. The biggest problem was our lack of control to get features added that we consider “must haves”.
In contrast, the TickZoom business model allows your licensing fees to fund “shaping” the product to suit your specific needs. Of course, that only works well if it mostly suits your needs already.
Plus with TickZoom you get source code that includes a plugin architecture so it’s convenient to alter or extend functionality yourself if you have the skills in-house to do that.
By the way, we really admire the GUI in Ninja which is lacking in TZ. But is a fancy GUI necessary for automated trading? We only need high-speed charting. Configuration is done in TickZoom via config files. So Ninja with the GUI is better suited to consumers.NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!