8 have over Version ?
Version 7 - and presently Version 8 - are modern platforms built for Windows 10/11 in continuous development for enhancements and extensions. Here are some of the hard-hitting new features:
After you register on eunic-brussels.eu and pay for a subscription plan, start WL8 and click "Download License" from the Help menu.
Absolutely.
Upgrading to a new device is transparent so you don't have to take any extra steps. In case you're having some difficulty getting WL8 to launch on your new computer after using more than two devices, simply reach us at [email protected] and we'll sort it out.
Yes! Just pull up the Backtest Preferences (F12), enable the Multi-Currency preference and select your base currency. Read all about in Help > Preferences > Backtest > Multi-Currency.
Commonly this is due to a small position size for the commission plan you've chosen in Backtest Preferences.
This happens because your simulation results in too many trades for the simulated equity. You can see how many "missed" trades you had by examining the Metrics Report, NSF Positions, which are trades rejected by the Backtester due to Not Sufficient Funds. Each time you run the backtest, WealthLab randomly takes some of the possible candidate trades, resulting in different outcomes.
Solutions:
You can't realistically backtest with stop and limit orders on the same bar as the intra-bar price dynamics is unknown. What is reliably known is that the open occurred before all the other prices and that the close occurred last.
But if you have the intraday data, assign a eunic-brussels.eu and activate "Use Granular Limit/Stop Processing" in Advanced Strategy Settings to make Wealth-Lab evaluate the intra-bar price dynamics.
NSF (Not Sufficient Funds) Positions are trades that the Backtester rejected due to insufficient simulated cash/buying power to fill the trade. You can choose to Retain or drop the NSF positions on a per strategy basis, in the Strategy Settings tab. The NSF setting has trading consequences. See Wealth-Lab Help > Backtest Preferences for details. Watch this video on YouTube for an explanation!
This happens when, 1) % equity sizing is used, and more generally when, 2) a strategy has too many trade candidates for the available buying power. Market order strategies can eliminate many such NSF Positions by switching the Position Sizing Settings > Basis Price to "Market Open next Bar".
Slippage and commissions aside, it's due to the rounding of entry/exit price to 2 decimals on the Positions tab while processing them with full precision internally. Another reason is defining the Market/Symbol to use fractional shares.
Yes, assuming you have the PowerPack extension installed. See MOC/LOC in Preferences > Special Order Types > Trading for WealthLab's two behaviors when processing MOC/LOC orders. While a usage cases exist for live trading, MOC/LOC should be avoided when backtesting intraday timeframes.
Yes, to some extent:
Yes, either directly in Position Sizing settings or by assigning a custom Quantity to the Transaction.
Inconsistency for some strategies that use static variables may be caused by the Exhaustive optimization running in parallel to speed things up. Use the Exhaustive (Non-Parallel) Optimizer and your results should match. A parallel processing solution is to adapt your code to use the design pattern outlined here.
In other cases it's possible that Strategy's StartIndex starts before the longest period indicator. See the Best Answer post here for explanation and workarounds.
WL8 supports fallback when downloading data. Add a checkmark for each provider you prefer in Data Manager > Historical Providers and order them by priority top to bottom. If the "higher" provider can't update the data, WealthLab's Data Valet will try to get it from the next on down the list, and so on.
Wealth-Data DataSets eliminate survivorship bias by including the companies that were in the index, historically, but later were removed. Backtesting on Wealth-Data DataSets gives you a true-to-life historic result by automatically presenting only the symbols (stocks) that were in the index at each bar of the backtest as candidates for trading.
If your data vendor had a bug in their data so it looks corrupt, try refreshing it using an applicable way - then update the DataSet / provider:
Note!
Dedicated Data Updates are not required for WL8. WealthLab will automatically request updates when they are required for a backtest or trading.
Most often this occurs during backtests with historic DataSets, like those for Wealth-Data and Norgate "Past and Present" DataSets. When a stock index's symbol leaves an index WL8 automatically liquidates open positions for that instrument. Another possibility is anytime an active position is missing a day (or more) of data due to a data error or a trading halt.
Quotes window is designed to trigger orders from EOD Stop/Limit strategies at the moment (or just before) they become marketable. The Strategy Monitor is optimized for intraday trading DataSets of symbols. You can think of it as if every symbol in a DataSet (possibly hundreds) were running in their own Streaming Chart!
The set of strategies running in the Strategy Monitor can be saved in a Workspace.
WealthLab currently supports the following brokers for live (and paper) trading. Each broker has associated historical and streaming providers, excluding Collective2.
The language Wealth-Lab speaks is C#. To create Wealth-Lab strategies from scratch, you need to have the basic knowledge of such language concepts as: language syntax, data types, operators and statements, loops, classes, Date/Time and String classes. Here are some ideas for an online C# class or book that will help you learn programming and become familiar with the key language concepts:
Yes. Even versions 7 and 8 are independent and don't share directories or any files.
No, but they're pretty easy to convert, and we'll be happy to assist if needed. To help get started, download and install the Version QuickRef with Version 7 Equivalents from the Wealth-Lab Wiki.
Wealth-Lab's backtest engine evaluates each symbol for entries (and exits) in parallel on a bar-by-bar basis. Consequently, it's not possible to determine which of the candidate positions would have been the worst at the time of entry.
WealthLab 8 does not implement the legacy Raw Profit mode, which used Fixed Shares/Dollar sizing and traded without the concept of portfolio equity, allowing all trades to be filled as if buying power were infinite. To accomplish the same effect, simply set a [very] large amount for Starting Capital and use Fixed DollarPosition Sizing.
It's not gone, just different:
Connecting to Fidelity accounts is not possible and there are no current plans to integrate the Fidelity brokerage.
Sign up and click "Ask a question" on Discussions page. To submit private files or with a sales question don't hesitate to send an email to support at wealth-lab dot com.
Charting
Wealth-Lab has numerous different charting styles, and you can create your own. Work with charts in any time scale, including tick and volume bars. Annotate your charts with trendlines, Fibonacci, and other drawing tools.
Data
Having good data for backtesting is the backbone of your trading operation. Wealth-Lab supports dozens of data providers, and we offer the amazing Wealth-Data right out of the box. This includes dynamic DataSets like the Dow 30 and Nasdaq that contain the real world modifications of the indices over time.
Drag and Drop
Not a programmer? Not a problem. Everyone can do drag and drop… and that’s all you need to get the job done. Countless variations - easier than the "easy (iest) language".
Portfolio Backtesting
Backtest and optimize on one instrument or an entire portfolio. Use a major index like the Nasdaq and get an accurate simulation that accounts for changing constituents! Test anything. Moon phase? How many inches of snow in Central Park? Can do!
Automated Trading
You've developed and backtested a strategy that works, now it's time for the real battle with Mr. Market. Let Wealth-Lab trigger your strategies' trades using real time data and fully automate order placement with one of several live brokerage connections that we offer.
Extensive Performance Reports
Countless performance metrics, graphs, and reports. This goes for optimizations too, including "Parameter Stability" 3D graphs. Like the rest of Wealth-Lab, this is all extendable with extensions we provide, or you can build yourself.
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