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There seems to be a lot of recent discontent building up with regards
to the lack of MetaStock development from Equis/Reuters. It is indeed
true that other charting programs have overtaken MS in a major way.
For example, AmiBroker (AB) can plot a composite system equity curve
based on hundreds of securities, and allows the changing of parameters
with the aid of real-time variable sliders. Watching the AB composite
equity plot change in real-time is a marvel.
Just getting MetaStock to plot the same single composite equity
(forget real-time manipulation), involves so much processing overheads
that it is not practical.
So, AmiBroker is indeed superior to MetaStock in many ways.
However... I still find myself using MetaStock for 95% of my tasks.
Why?
1) Familiarity & ease of use = time-saving - it generally takes me
five times longer to code in AB;
2) MetaStock's Graphic User Interface is still superior to AB;
3) More than 95% of programming tasks are basic building blocks which
don't require complex programming;
4) Successful mechanical trading strategies are composed of 60~80%
logical thought, and 20~40% actual programming skills.
It is the last point that needs to be generally acknowledged &
understood.
It is not the actual charting package that decides how successful the
development of one's mechanical or subjective trading system may be,
but rather, it's the trader's own ideas and ability to put them into a
logical & codeable form that makes a good system worth considering.
More programming complexity is not always better.
If I were to be just interested in the intellectual challenge of
coding difficult or abstract ideas, I would have probably left this
group to join the AmiBroker camp a long time ago, just as others have
already done.
However, being much more interested in the bigger picture, means that
the charting tool is not so important to me. MetaStock is fine for
just about all system development purposes.
If productivity is also important to you, and you already use
MetaStock, you may find that there is little or no need for better/
faster tools, or for re-learning a new process.
If you are not using a charting package yet, consider MetaStock's easy
learning curve before choosing a career in rocket science.
Take care not to lose sight of the forest for the trees. :)
jose '-)
http://www.metastocktools.com
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