I'm relatively new to Wealth-Lab and attended their webinar and had a jump-start tutorial. I've backtested a strategy I want to use, but can't seem to get any more information out of Wealth-Lab support after the tutorial as to how to monitor and run the backtested strategy once I'm ready to use it.
So, sorry to ask such a basic question, but once I have a saved strategy and I'm ready to use it, how do I run the signals from that strategy every day or period? I'm not exactly sure and can't find youtube tutorials or help on the next step, so I feel like I'm 90% of the way there.
Thank you
So, sorry to ask such a basic question, but once I have a saved strategy and I'm ready to use it, how do I run the signals from that strategy every day or period? I'm not exactly sure and can't find youtube tutorials or help on the next step, so I feel like I'm 90% of the way there.
Thank you
Rename
Is this a daily strategy? I'm sure Cone will cover it in a future video, but all I do is run the strategy every day after market close and PLACE the trades from the Signals tab using my connected Broker (Medved Trader->Fidelity.)
Yes, this particular strategy I created and backtested is a daily strategy.Thank you for the input.
So, from what I can tell, to run strategies each day I would open Strategy Monitor, drag the strategy into Strategy Monitor (is there a way to save it in there so I don't have to drag it every day?), then click on the strategy and choose "Activate", then the choice seems to be "Auto-Stage" or "Auto-Place" or to right click on the strategy and choose "Run Now" ? (I don't know what those menu selections do).
Hard to believe there's nothing in help or YouTube videos to refer to in order to figure this all out, or that I can't get Volcker to answer my questions after he was nice enough to do a jump start tutorial for me (he didn't cover what to do after building and backtesting a strategy in order to USE that strategy). And when I first went into Strategy Monitor and tried to run it, it kept asking for the API key presumably of the brokerage firm (and then he wouldn't answer that question either- don't know the API keys and I don't necessarily want to associate a brokerage account with it).
So I've been left to my own devices for a few weeks now - and I really appreciate the input you all give me here.
So, from what I can tell, to run strategies each day I would open Strategy Monitor, drag the strategy into Strategy Monitor (is there a way to save it in there so I don't have to drag it every day?), then click on the strategy and choose "Activate", then the choice seems to be "Auto-Stage" or "Auto-Place" or to right click on the strategy and choose "Run Now" ? (I don't know what those menu selections do).
Hard to believe there's nothing in help or YouTube videos to refer to in order to figure this all out, or that I can't get Volcker to answer my questions after he was nice enough to do a jump start tutorial for me (he didn't cover what to do after building and backtesting a strategy in order to USE that strategy). And when I first went into Strategy Monitor and tried to run it, it kept asking for the API key presumably of the brokerage firm (and then he wouldn't answer that question either- don't know the API keys and I don't necessarily want to associate a brokerage account with it).
So I've been left to my own devices for a few weeks now - and I really appreciate the input you all give me here.
I don’t use the Strategy Monitor, I just run it in a Strategy window.
QUOTE:
(is there a way to save it in there so I don't have to drag it every day?)
Yes, by saving a Workspace.
QUOTE:Unless we overlooked documenting a feature, every button, selection, checkbox, etc. are described in the Help. Just strike F1 to pull up the help for the tool your currently using. If you need more information about a specific feature, just let us know.
(I don't know what those menu selections do).
Edit:
We may have actually missed explaining "Run Now", because it's somewhat self-explanatory, but we'll take care of that for the next update.
Run Now - temporarily Activates the strategy item, updates with the latest data, and executes it. By default, the strategy will be de-activated following the run. To keep an Activated strategy item activated following Run Now, enable that in Preferences > Trading >Miscellaneous Settings.
Run all Daily+ Now - same as Run Now, except that it executes all Strategy items that are set up for Daily or higher scales (Weekly, Monthly, etc.).
Thank you for the info.
My point, however, has been that, as a new user of Wealth-Lab, unless instructional tutorials, help screens, or whichever source lays out a process, the user has no clue where to go to find out.
For example, instruction on how to construct a strategy using building blocks should include a, b, and c, and then the user would backtest and optimize the strategy by doing d, e, and f, and then once strategy is optimized and ready to use, user would do g, h, and i, etc.
Your instructional tutorials do give a lot of that information (thank you), and help screens cover certain important information (thank you again), but there aren't enough tutorials or instructions to know the procedure to employ to build, test, and then monitor and deploy the strategies on a daily basis - from start to finish.
My own experience is that the Wealth-Lab tutorials (and jump start from Volcker) left off on the latter part - monitoring and deploying the strategies after backtesting and optimization. I was left with having built and optimized a strategy but with no knowledge of what to do next (after the Strategy Monitor kept asking for an API key).
So I emailed Volcker, and after not answering for a while or pointing me in a different direction than an email to him, he directed me to this forum, where I was unable to find what I needed to get to that last step. This became important when the Strategy Monitor asked for an API key (again, emails were to no avail), so I stumbled through the strategy monitor to get to the point at which I could post this in this forum. But I still don't know if I'm running my strategy properly in Wealth-Lab, let alone getting the most benefit out of Wealth-Lab.
So, thank you for the info, tutorials, and help screens - they truly help. But I, as a new user, need more guidance as to how to use Wealth-Lab's great strategy building features from start to finish. Specifically, how to run my optimized strategies each day. Otherwise, I have a time-consuming task ahead to stumble through Wealth-Lab on a slow learning curve in a very fast-moving market environment.
Thank you,
Dan
My point, however, has been that, as a new user of Wealth-Lab, unless instructional tutorials, help screens, or whichever source lays out a process, the user has no clue where to go to find out.
For example, instruction on how to construct a strategy using building blocks should include a, b, and c, and then the user would backtest and optimize the strategy by doing d, e, and f, and then once strategy is optimized and ready to use, user would do g, h, and i, etc.
Your instructional tutorials do give a lot of that information (thank you), and help screens cover certain important information (thank you again), but there aren't enough tutorials or instructions to know the procedure to employ to build, test, and then monitor and deploy the strategies on a daily basis - from start to finish.
My own experience is that the Wealth-Lab tutorials (and jump start from Volcker) left off on the latter part - monitoring and deploying the strategies after backtesting and optimization. I was left with having built and optimized a strategy but with no knowledge of what to do next (after the Strategy Monitor kept asking for an API key).
So I emailed Volcker, and after not answering for a while or pointing me in a different direction than an email to him, he directed me to this forum, where I was unable to find what I needed to get to that last step. This became important when the Strategy Monitor asked for an API key (again, emails were to no avail), so I stumbled through the strategy monitor to get to the point at which I could post this in this forum. But I still don't know if I'm running my strategy properly in Wealth-Lab, let alone getting the most benefit out of Wealth-Lab.
So, thank you for the info, tutorials, and help screens - they truly help. But I, as a new user, need more guidance as to how to use Wealth-Lab's great strategy building features from start to finish. Specifically, how to run my optimized strategies each day. Otherwise, I have a time-consuming task ahead to stumble through Wealth-Lab on a slow learning curve in a very fast-moving market environment.
Thank you,
Dan
Hi Dan, we’re still working on the tutorial videos and more are in the pipeline!
Thank you - looking forward to more tutorials!
And while we're waiting for more tutorials, can you give me a bullet-point list of how to run the strategies I've backtested and want to use?
I'm not placing them with a broker - I just want the signals to run each day so I can evaluate them and trade them on my own.
I really appreciate it, as I've been stuck for several weeks and want to get going. I'm a subscriber to Wealth-Lab premium.
Thank you
Dan
I'm not placing them with a broker - I just want the signals to run each day so I can evaluate them and trade them on my own.
I really appreciate it, as I've been stuck for several weeks and want to get going. I'm a subscriber to Wealth-Lab premium.
Thank you
Dan
Since there are 5 or 6 ways set up trading, it would be helpful to know:
1. What interval are you trading? Daily? 5-Minute? etc?
2. How many symbols, or which DataSets (Nasdaq 100, S&P 500, etc.)?
3. How many strategies?
4. What are the order types you will be using? (Market, Limit, Stop, MarketClose, etc.)
5. Which data provider(s) will be using? (especially important for intraday/streaming)
6. Which Broker?
Since trading is the same as place Signals, this blog article is a quick and visual summary.
1. What interval are you trading? Daily? 5-Minute? etc?
2. How many symbols, or which DataSets (Nasdaq 100, S&P 500, etc.)?
3. How many strategies?
4. What are the order types you will be using? (Market, Limit, Stop, MarketClose, etc.)
5. Which data provider(s) will be using? (especially important for intraday/streaming)
6. Which Broker?
Since trading is the same as place Signals, this blog article is a quick and visual summary.
I can share my method.
1) Open the Strategy in a Strategy Window (mine is a MetaStrategy.)
2) Run the Strategy by clicking the Run Backtest button.
3) Place the signals manually with my broker (Fidelity.)
But over the past few weeks I've been able to eliminate step 3 and replace it with this:
3) Open Medved Trader, which I've already configured to connect to my Fidelity account.
4) Place the orders from the WL8 Strategy window Signals tab to the Fidelity account via the Medved Trader extension.
1) Open the Strategy in a Strategy Window (mine is a MetaStrategy.)
2) Run the Strategy by clicking the Run Backtest button.
3) Place the signals manually with my broker (Fidelity.)
But over the past few weeks I've been able to eliminate step 3 and replace it with this:
3) Open Medved Trader, which I've already configured to connect to my Fidelity account.
4) Place the orders from the WL8 Strategy window Signals tab to the Fidelity account via the Medved Trader extension.
And I use the other 5 ways.
I have to agree on danascani: "but there aren't enough tutorials or instructions to know the procedure to employ to build, test, and then monitor and deploy the strategies on a daily basis - from start to finish."
After 1 year I did a lot of testing but still have nothing running, even on a demo.
I did some reading and watching but indeed, there are so many possibilities that it makes the learning curve quite steep.
For me this page https://www.wealth-lab.com/blog/interactive-brokers-auto-trade
should help me out but even than I still have nothing running. Have to make some time.
If people don't extend subscription - imho - one reason can be because they cannot use te program properly in real trading. Altough everything is almost possible.
1 page with clear tutorials and video's will help a lot of people.
Not as the support page https://www.wealth-lab.com/Support/Faq
Rather as the blog page. https://www.wealth-lab.com/Blog but nicely ranked per topic.
Youtube video's included.
After 1 year I did a lot of testing but still have nothing running, even on a demo.
I did some reading and watching but indeed, there are so many possibilities that it makes the learning curve quite steep.
For me this page https://www.wealth-lab.com/blog/interactive-brokers-auto-trade
should help me out but even than I still have nothing running. Have to make some time.
If people don't extend subscription - imho - one reason can be because they cannot use te program properly in real trading. Altough everything is almost possible.
1 page with clear tutorials and video's will help a lot of people.
Not as the support page https://www.wealth-lab.com/Support/Faq
Rather as the blog page. https://www.wealth-lab.com/Blog but nicely ranked per topic.
Youtube video's included.
Great to hear that the video tutorials are appreciated! We plan to release more as soon as we’re able to produce them 👍
Strategy monitor.
Steps:
1) Create and backtest a strategy
2) Set the parameters in the StrategySettings
3) Drag the Strategy into Strategy Monitor
Problem.
Strategy monitor runs the strategy with fixed amount position sizing rather than the amount that strategy settings has .
How do I fix that?
Thank you.
Steps:
1) Create and backtest a strategy
2) Set the parameters in the StrategySettings
3) Drag the Strategy into Strategy Monitor
Problem.
Strategy monitor runs the strategy with fixed amount position sizing rather than the amount that strategy settings has .
How do I fix that?
Thank you.
Configure the Position Sizing how you really want it in the Strategy Monitor Item's Configuration.
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