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I meant to respond to this earlier but forgot about it. Sorry.
I use both Metastock and Tradestation. Metastock is a wonderful charting
program, much better than Tradestation. Metastock is fast and relatively
easy to learn to use. The program is robust, at least on my system, and does
not crash my computer. And Metastock has a lot of built-in indicators.
Tradestation does not have as nice a charting display but it is adequate.
The number of built-in indicators is limited. For instance Tradestation
doesn't have regression lines and standard deviation channels built in.
Tradestation is also a huge program with many bugs and crashes a lot. If I
used it in realtime I would definitely use Win2000.
Metastock's system tester is fast but limited. Tradestation can produce
statistics on many more parameters than Metastock. For instance Metastock
will produce stats on Maximum Adverse Excursion. Tradestation produces that
in graphic form along with such things as Maximum Favorable Excursion,
Underwater Equity graph and several other useful graphs. Tradstation also
calculates Sharpe ratio, k-ratio and several other stats that are helpful.
Metastock's Explorer is much faster than Tradestation's and just as good as
finding things on a simple system. Tradestation has better built in stops
and exits and can handle a more complex system with ease.
A Tradestation chart can handle up to 50 inputs at once. You can load up a
chart with several securities, put/call stats, advance/decline data,
interest rates, basically anything you can get data on and then create a
trading system that runs against all that data.
Tradestation has a robust development language that is very similar to a
regular programming language. It is easy to write complex systems with
complex data structures although debugging them can be trying at times. I
have not used Metastocks new development facilities so I can't comment on
them but I hear they are trying to improve their capabilities a lot.
Tradestation has more canned programs that run on their platform than
Metastock so if you want to buy an off the shelf system that might be a
concern.
One thing to consider is that Tradestation might be a dead end program.
Omega has indicated that there will be no more development work done on the
current version of Tradestation and the new version will be and internet
based version. Not what some people want.
Well that's my 2 cents worth. Other people will probably have other thoughts
but I hope this is helpful.
Regards
John Manasco
Metastocks support is their real bright spot. In spite of some growling
every now and then they do a really superb job. Omega research support is
staffed by rude people that have absolutely no clue as to how to fix
problems.
----- Original Message -----
From: <Macromnt@xxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Tuesday, October 10, 2000 8:25 AM
Subject: Re: MetaStock versus Omega's TradeStation
> I have not done the comparison personally but I had an assistant who
worked
> with TredeStation in our office and had Metastock at home and according to
> him Metastock is far less powerful that TradeStation.
>
> Good Luck.
>
> Jean Jacques
>
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