|
PureBytes Links
Trading Reference Links
|
Oops. Didn't see it.
Tradestation does have a functional equivalent to the Metastock Exploration.
It's called the "Chart Scanner."
Steven Buss
Walnut Creek, CA
sbuss@xxxxxxxxxxx
-----Original Message-----
From: Steven Buss <sbuss@xxxxxxxxxxx>
To: Metstock List <metastock-list@xxxxxxxxxxxxx>
Date: Friday, December 05, 1997 5:35 PM
Subject: A Great Advertisement for Metastock is....
>to try Tradestation.
>
>I decided to do the one month trial to see what it was about. I have some
>thoughts after a couple weeks of using it. Here they are. (Caveat emptor:
>I've only been using MS 6.5 a few months and Tradestation a few weeks so I
>may not have a complete grasp of all features. If I get something wrong,
>let me know.)
>
>- Tradestation is a product that requires a great deal more "manual
>reading." I've got its data server setup and I'm getting real time quotes
>(BMI refunds money after only a month trial) but I'm still fumbling around
>alot (because I don't have time to do a thorough read of the manual). The
>manuals are well written and provide plenty of detail.
>
>- Tradestation has fewer "built-in" indicators. This surprised me. But
>maybe this doesn't matter because, in fact, the tried and tested ones (that
>both MS and TS have) are the ones that matter anyway.
>
>- Tradestation has a more powerful formula language. In the language of
>software development, it has "procedural" elements (while and for loops for
>example). A metaphor for this for those familiar with spreadsheets might
be
>that Tradestation has both "formula" and "macro" capabilities in its
formula
>language whereas Metastock only has "formula" capabilities. This is a
>powerful thing if you have a complex and sophisticated trading system to
>deploy, but not a big deal for someone with my level of experience. There
>are other things about the Tradestation language that make it more powerful
>than Metastock's also.
>
>- In general, Tradestation has more "robust" facilities for automating
>various activities.
>
>- One thing I really like about Tradestation is that one can combine data
>of different periods (Hourly, daily, and weekly) within the same chart and
>then write an indicator or system test to reference all these data sets.
>This is a great thing.
>
>- I feel like I must be missing something in Tradestation though. I
>haven't been able to find the equivalent functionality to the Metastock
>Exploration. Tradestation has "paint bars" and "show me studies"
(something
>akin to an exploration) but these can only be run against an "open" chart.
>(As in Metastock, where a system test can only be run against an open
>chart.) I must be missing something. This is a major hole.
>
>- By the way, wouldn't it be great if you could write a system test and
>then run it against stored files like you can with an exploration?
>
>- About support: There is no mailing list or other means of communication
>for users of the product that I can see. There's a News group but it
>appears to mostly get posted with peripheral items. Kinda like this list?
>
>- To summarize for now, A Great Advertisement for Metastock is to try
>Tradestation. Sure, tradestation has a bit more features, etc. But if it
>turns out that I'm NOT missing something and Tradestation doesn't have the
>equivalent of a Metastock Exploration, then, I think the argument could be
>made that, unless you're day-trading, Metastock is the product of choice
>merely because of the Exploration.
>
>Initial thoughts...Anyone else have thoughts about this?
>
>Steven Buss
>Walnut Creek, CA
>sbuss@xxxxxxxxxxx
>
>
|