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Hello fellow traders,
I have just started trading couple of months ago and got to know about metastock from a friend of mine. I have couple of questions that hopefully i can get answered over here. I have done my own research on metastock and found some really good reviews but the software. How good is the software for a newbie? im thinking of buy the trial but im just confused if i should buy EOD version or real time one for intra day. I want to know the pro's and con's of the software from the users.
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Rank: Advanced Member
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Hi,
I can't comment from a user perspective, but whether you go with End-of-Day or Real-time would be largely a personal financial decision based on several factors of how you plan on investing, i.e.:
-Account size
-Risk tolerance
-Frequency of trading
-How often you want to be in/out of the market
There should be extensive information out there regarding the advantages of day vs. swing vs. position trading, but this is more an investment vs. software decision in my opinion.
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Rank: Advanced Member
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If you're new to trading, I would absolutely recommend you do NOT start out with intraday; you need to learn the fundamentals and (most importantly) learn to master your own psychology, the most important of the three fundamentals (psychology, risk control, technical methods). You can't do that in a frenetic daytrading environment.
I've used MetaStock 9 and 11 and have not upgraded beyond 11 due to their decision to drop support for locally-stored data (I have my own data source). Even the latest version is looking very outdated since the code base is ancient and there's been little effort to bring it up to date for modern operating systems.
Within these limitations, though, I like MS 11 a lot and use it every day. Starting out new, I'd reevaluate it compared to more-modern trading platforms, but I insist on growing and grooming my own historical data. Unless/until MS re-implements that, I'm staying put.
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Rank: Advanced Member
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Thank you for your comment Jim. We certainly like to listen to customer feedback and that is why with Version 15 we brought back the support for local data. Thank you for being a long time customer.
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