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Which Backtester Is Right For You?

By Dave Mabe

The other day, I shared which backtesting software you should consider using. Which one is right for you?

It depends on:

  • Your skill set

  • Your strategy timeframe

  • The amount of history you require

Do You Have Programming Experience?

Although still important, programming experience used to be a big differentiator - the factor for determining which backtesting software to use.

With the advent of LLMs, it's not as critical, but still an important factor, and it will always give you an advantage over traders who can't program.

If you don't enjoy programming, then Trade-Ideas is your best choice.

Strategy Timeframe

Do any of your strategies require intraday data? If so, RealTest only works on daily data (currently), so Amibroker is the best choice.

Minimum Backtesting History Required?

Trade-Ideas has 3 months of backtesting history available - plenty for some strategies, but not enough for others. If you have to have more than 3 months of history, then cross Trade-Ideas off your list.

Let's go through the three choices and the pros and cons of each:

Trade-Ideas

Pros:

  • Simple to use, no programming required

  • The fastest backtesting software on the market (nothing even close)

  • Trivial to get real-time alerts when your strategy is finalized

  • Built-in indicators/custom columns in your backtest

  • No data to maintain - all data included

Cons:

  • 3 month backtesting window

  • Nice breadth of indicators, but not infinitely customizable

  • US Equities only

Amibroker

Pros:

  • No limit on the amount of data for your backtesting window

  • Infinitely customizable using code

  • Can use intraday data

  • Any instrument type

Cons:

  • Programming required through own custom language (AFL)

  • Third-party data source required

  • Some local database maintenance is required

  • Time-consuming to scan the entire US equities market in real-time (use in tandem with Trade-Ideas to do this efficiently)

  • Have to create your own custom columns for your backtest

RealTest

Pros:

  • Fast, simple portfolio backtesting

  • Infinitely customizable using code

  • Any instrument type

Cons:

  • Daily data only (currently)

  • Third-party data source required

  • Some local database maintenance is required

  • Have to create your own custom columns for your backtest

Summary

All these software packages are excellent - I use each for specific tasks. The best choice for you is very trader-specific.

Tomorrow, we'll return to the nuts and bolts of creating a strategy (regardless of the software you use).

-Dave