If you are serious about developing sophisticated trading systems, need to work with large portfolios, or wish to perform tests using individual contracts or options, then buckle down, climb the learning curve, and go for an advanced simulator that employs a generic programming language such as the C++ or Object Pascal. Such a simulator will have an open architecture that provides access to an incredible selection of add-ons and libraries: technical analysis libraries, such as those from PM Labs (609-261-7357) and Scientific Consultant Services (516-696- 3333); and general numerical algorithm libraries, such as Numerical Recipes (800.872-7423), Numerical Algorithms Group (NAG) (44-1865.511.245), and International Mathematics and Statistics Library (IMSL), which cover statistics, linear algebra, spectral analysis, differential equations, and other mathematics. Even neural network and genetic algorithm libraries are readily available. Advanced simulators that employ generic programming languages also open up a world of third-party components and graphical controls which cover everything from sophisticated charting and data display to advanced database management, and which are compatible with Borland’s C++ Builder and Delphi, as well as with Microsoft’s Visual Basic and Visual C+ +.
If your needs are somewhat less stringent, choose a complete, integrated solution Make sure the simulation language permits procedures residing in DLLs to be called when necessary. Be wary of products that are primarily charting tools with limited programming capabilities if your intention is to develop, back-test, and trade mechanical systems that go significantly beyond traditional or “canned” indicators
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