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I am struggling to decide between Tradestation and Metastock. Can someone explain to me why Metastock would be better than Tradestation?
Tradestation also has their platform integrated with brokerage
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IMHO, the difference is in the learning curves required to use each product. MS is a "simple" tool which allows most traders to view a chart and make some computations on which they are going to base their decisions. TS is a lot more powerful, but the price is that it is also much more complicated to use and has many "features" that if not fully understood, can result in large losses or unpredictable results from trading.
If just starting out in trading and programming, KISS (keep it simple) is a mantra worth considering.
BTW: there are other platforms too, not just MS and TS, each with their own capabilities and limitations and costs.
$0.02
wabbit [:D]
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Rank: Advanced Member
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As usual you said everything that needed to be stated wabbit. =) Only thing I can add is that the market is complex and making more complex is not going to make the beginning trader better. Plus, I had great success using Excel in office to chart so it is not the program but the programmer... It is not the hardware but the software ( Hardware = Trading Program and Software = Trader).
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Rank: Newbie
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I am struggling with the same question. Can some one give me a clear answer of which is best.
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Rank: Newbie
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Have used both, amongst many other platforms, but still use Metastock a lot. The functions of TS are far greater than most other platforms and would take some time to get used to, for instance the programming can be complex, with lots of written code. Metastock's ease of use is one of it's major advantages, just wish one day that we can have tick & volume based charts as opposed to just time charts.
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Have you first considered what type of broker you want?
What kind of analysis software do they provide?
What type of data do you need? real time w level 2 or EOD?
How much are you willing to pay for this data feed?
Is the Data service compatible with your trading software?You might have to jump through hoops, to convert it into the proper format.
The formula language in Tradestation is more complex and harder to program than in Metastock.
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