Re: [Metastockusers] Time to ditch MetaStock?, MetaStock Email Archive

Jose,

All of what you said is granted. And yet…

I recently posted a reply to another thread in which I mentioned my most recent experience of MS “support and development”. Basically I wanted to know why the data on demand function didn’t work for intraday data from E-signal on International exchanges, specifically the LSE (whereas I can see the data on my E-signal charting package).

Now, if I was running a business like Equis I would like to think that if someone made a constructive criticism such as mine I would at least look into the possibility of doing something about it and then releasing a FREE(!) patch to upgrade the software asap. I mean, the problem is simple – the E-signal data manager is not talking to the Equis data server for this exchange. It works for the US exchanges, so it should only take an experienced programmer a few hours to determine where the communication breakdown between the two utilities is occurring and then fix it?? Well maybe I’m wrong, but the answer I got just spoke volumes about the company’s attitude…basically that they are working on ‘other priorities’ and didn’t have time to look into it – and if I wanted my money back then I could have it! And I though it was George Bush’s job to try to alienate themselves from the world outside the US!!

OK, maybe it’s not that bad – and there is a work-around after all. But it is plain bad business. I don’t WANT my money back because, as you said Jose, I too have put a lot of time and effort into learning the ropes with this software and don’t want to have to do the same in a hurry with something new.

I encounter limitations with this software on a fairly regular basis. Sometimes I can work around it, sometimes it means I’m getting too complicated for my own good and so it’s a kind of wake-up call, but sometimes…sometimes I just sit and look at the thing and say to myself “now why on earth can’t it do THAT?!”. All of us who have used this thing for any length of time have had that moment I am sure.

Users, traders and programmers are coming up with new ideas all the time, which is one of the things that makes this industry so exciting and challenging. Most of those ideas are useless, some are brilliant. There is a lag time with software development too, as the various companies try to keep up with these new ideas and eachother. That is called healthy competition and the end result SHOULD be an improvement in ALL the software packages out there as either (a) new functions are added or (b) the existing functions are made more robust and/or user-friendly. As has been said before I’m afraid it looks like Equis just can’t be bothered trying to play this game anymore and has lost interest in the market for hard-core traders. That bodes ill for the future, regardless of whether my immediate needs are satisfied at this particular point in time.

Jose, you said…

>3) More than 95% of programming tasks are basic building blocks which
>don't require complex programming;

…and I agree whole-heartedly. However, a problem inside the other 5% is still a problem…

Amibroker for testing and E-signal for trading is sounding more and more like where the future lies for this particular trader.

From: Jose [mailto:josesilva22@xxxxxxxxx]
Sent: Thursday, February 03, 2005 1:03 PM
To: Metastockusers@yahoogroups.com
Subject: [Metastockusers] Time to ditch MetaStock?

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