metastock software

[rickjust]

hi david,
thanks for the great site!
i am looking into buying the metastock software and i am enroled in an online seminar for the product. my question is which one do you use . there is metastock and metastock pro.
the price varies greatly.
thanks for taking the time,
maxi

[Ramsburg]

Hi,
We use meta 8.0 professional.
Thats a great software.
Best regards,

[rickjust]

thanks ,
will check it out
maxi

[David Randolph]

Actually rickjust, the Metastock 8.0 or 9.0 regular version is very, very good. You don't need the Metastock Pro version, that's for day trading purposes.

I use the normal version and it works fine. The price is much more attractive too 

[rickjust]

thanks,
just found your reply. thanks for a great site.

[metro]

rickjust -

I have metastock and tradestation 2000i but prefer Qcharts - you may want to check it out as they have a trial period I believe and no charge for the software

http://quote.com/qc/default.aspx

[David Randolph]

Tell me something metro: you have the Tradestation software but not an account at Tradestation Securities? I would like to try the software before opening an account at Tradestation, I'm particularly interested on the «Automated Trading» feature.

Are you a pro with tradestation software? I have some specific questions.

Thanks a lot for your help 

[metro]

David,

Actually I have Tradestation 2000i charting software

http://www.tradestation2000i.com/default.shtm

and not the trading software that works with Tradestation Securities

http://tradestation.com/default_2.shtm

The Tradestation 2000i is more like Qcharts or Esignal or Meta Stock and I am just playing with it at the moment as so far I see no advantage to it over what I use now - Qcharts Qcharts.com or free trial at

http://tinyurl.com/amxz4


My main account is with Interactive Brokers (IB) http://www.interactivebrokers.com

They have very complete trader workstation that allow one to set up many types of conditional orders and do basket trades and hidden orders and iceburg etc. So you can easily set up an order to buy a basket of stocks when the S&P breaks a certain level after a time of day etc.  There are very many third party add ons to allow one to create tons of automated trading methods.

if you wanted to own say DROOY and HMY and GFI as the South African Rand fell of if the December Gold futures broke to new levels this then this could be set up with a trailing stop  loss at a price or a % or another conditional. This is godd for someone who does not watch the market as it can get them in and out of stocks automatically.

IB has about the lowest commission at 1 cent for less then 500 shares and $0.05 for over and min or $2 and max of 0.02% so buying 200,000 of a penny stock like GLIF at 0.04 ($8,000) would cost $16.00

You can trade stocks, futures and options in may markets in the world with them and they do automatic currency conversion. They only handle electronic orders so you cannot trade pink sheet stocks with them.

Their trader workstation has a demo mode so you can download it and try it out. They have some charts but not really very good but I would do not need it anyway. You can have more then one account so you can set one up for Long term and one for short as an example. You can also create a management account that allows you to manage accounts for others from one workstation.

One thing I like it the use of Tabs. I keep one current one with all open trades and ones I expect to soon play. Then I have a tab for Gold and one for VOIP and for Alt Fuel and Nanotech and Biotech and Chips etc so if there is some event good for VIOP I can in one click have all VOIP companies on my screen. It also has a market movers list so you can see what stocks are biggest gainers/losers. All screens are tradeable right for the screen with the mouse.