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Hi Derek,
I use both and the common factor is that they can produce lines on screens.
The big differences are:
1) TS can be used for system testing. Although you'll get arguements about
how good tradestation is at reflecting where your stop is hit, its much
better than metastock's open, close, high or low choices. Also
optimisation which is available on TS is valuable even if potentially
dangerous.
2) For both systems and indicators the complexity of "easylanguage" allows a
staggering range of choice. One example is that Joe DiNapoli has an
indicator called an "oscillator predictor" which predicts the close price
required for an oscillator to be oversold. Probably impossible to be done
with Metastock but reasonably simple with Tradestation.
3) Most indicators for sale are written on Tradestation and most of the
intelligent discussion is based around Tradestation.
4) Generally its easier to draw lines such as trendlines or andrewsbabson
lines with Metastock but Tradestation is more flexible. For example you can
change (and save as default) the fib retracements in TS but not in
Metastock. Also you can write software to draw differently coloured lines
at different levels for a whole series of retracements from a focus point to
determine confluences of retracements.
So, I'd get tradestation. In fact I'll sell you a second hand version of
Metastock V7 if you want!
Only thing I'd do before buying TS though is look at a bit of software
called Trading Recipes. If you're serious about system trading commodities
rather than discretionary trading then it may be a better choice as it gives
you much better ability to look at money management, drawdowns and mixing
systems and commodities that TS does (virtually none unless u build the
spreadsheets yourself).
John
----- Original Message -----
From: "Derek" <dfawell@xxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Friday, August 03, 2001 11:01 PM
Subject: Tradestation v Metastock
Hi All
I'm fairly new to the trading game and have recently joined this list. I'm
wanting to buy stock-screening software, where I can
develop my own systems. I have been tempted to go for Metastock as I've
used their stuff a bit but would like to consider
Tradestation.
Could anyone here tell me what are the main advantages of Tradestation over
Metastock.
Derek
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