|
PureBytes Links
Trading Reference Links
|
Mike,
I use MetaStock for several purposes. First, I have written several
explorer queries that help me find the securities that I should be
watching. Some of these explorer queries are written using custom
formulas that I have developed and/or borrowed from Stocks & Commodities
journal.
I also find Metastock extremely useful, especially its latest versions
from 6.0 or above, for providing me with a vast range of in-built
functions that I can use to build custom formulas and/or explorer
queries.
I have created several charts and layouts that help me monitor the
stocks on the regularly traded list.
Now, to answer your question why do I use TradeStation,I intend to list
the following points, and I do feel there is a good case for using
both.
1. Though, in my opinion, MetaStock definitely offers the best value for
money, it has certain limitations. First, the studies in charts and
layouts that I create in MetaStock can't be automatically monitored
while the alert system in TradeStation does that highly efficiently.
Alerts can be set to trigger each line study or indicators and/or other
studies in a chart in tradeStation. Creating a custom expert advisor may
offer some help in this regard but that is quite cumbersome and time
consuming.
2. I need to use date based queries for things like 52-week highs and
lows or say quarterly high/lows and/or other system development needs.
And for trading system development TradeStation's Easy Language is far
superior to MetaStock's system development tool. The input function in
MetaStock doesn't yet allow one to give the user the freedom to specify
the type of moving average or the type of data field like close or high
at the time of execution. However, at its present form it is definitely
a great improvement since no input function was available earlier.
3. MetaStock scores very highly for its Explorer query facility. I am
yet to check Omega ProSuite 2000i but at least TradeStation 4.0 did not
have any such facility.
Thus, if one can combine the two of them one can definitely get better
results. However, my conclusion is that MetaStock with its current
features and pricing defintely offers the best value for money and if
one intends to use only this, one can still do a lot of things and trade
profitably. At least, the experience of most technically oriented
traders in India testify that.
In a separate letter to MetaStock bulletin board, I would like to
elaborate how I have partly overcome MetaStcok's specific date field
limitation.
Regards,
Rajat K Bose
--- "Morgan, Mike" <mmorgan@xxxxxxxxxxxx> wrote:
>
> Rajat
>
> What are the tasks that you use Metastock for ?
>
> How about Tradestation ?
>
> Is there a good case for using both ?
>
> -MM
>
>
_________________________________________________________
Do You Yahoo!?
Get your free @yahoo.com address at http://mail.yahoo.com
|