how good is metastock for currency trading?
Suggested Charting Software
- Thread starter maxpower
- Start date
heard meta was good for currency. they have a dedicated pltform purely for FX. But it seems all around TradeStation is a great way to go as you can do it ALL there: Futures, FX, Stocks, Options in addition to Charting that is excellent like the others. BUt Trade is also a broker so you don't need to tie your 3rd party software to a brokerage. I've researched the hell out of this and it seems the only place that has it all is Tradestation.
MetaStock Pro is really just for charting not trading directly. It has access to data for virtually all major exchanges worldwide, including forex.
QT is limited to only ten days of data, but they can do any charting style that you can imagine (and then some).
Hope that helps.
Thanks for your response.
Is this limit absolute, or related to back filling? In other words, are you able to construct a chart with intraday data already in a data file on your computer that goes back more than 10 days, or it simply impossible to construct a chart for more than 10 days? I've never run accross a charting program that cannot generate a chart back further than 10 days, so I'm questioning my understanding. Thanks again.
You cannot go back further than 10 days for intra-day trading ... period.
Yeah, I know this sounds weired, but it's true. There's a rumor that if you have an account with Ameritrade you can boost it up to 20 days, but I cannot substantiate that.
This rule has forced me to keep detailed notes and screen shoots of my trading, as well as playout different scenarios by heart (had to memorize all the days charting).
Utlimately, it has worked out to make me a better trader.
Good trading.
Also an Ensign user. It has a few probs, but for the money it is hard to beat. You can do just about anything graphically with it, and set hotkeys for single click/ stroke changes of studies, time frames, instruments, etc. In other words, you don't have to use a drop down menu most of the time. I find that just way too time consuming. Most of the free, or nearly free TA software programs require you to do that.
Ensign does not have anything for back testing, and you can't trade directly from the charts, although I wouldn't want to anyway.
I have used almost every major software package out there, and find most of them either huge overkill (Tradestation), just too damn expensive for charting (CQG), or a complete piece of crap (Esignal). By the way, I used the latter on and off for about 5 years. Their data was terrible when I used it, and I hear it still is. Numerous threads on this.
Ensign does not have anything for back testing, and you can't trade directly from the charts, although I wouldn't want to anyway.
I have used almost every major software package out there, and find most of them either huge overkill (Tradestation), just too damn expensive for charting (CQG), or a complete piece of crap (Esignal). By the way, I used the latter on and off for about 5 years. Their data was terrible when I used it, and I hear it still is. Numerous threads on this.
I am a professional trader and use esignal. I have found it to be ok. CQG and Trading technologies are probably the best if you are a futures trader. That is what the pros use. However, they are pricey. Tradestation has good charts too but the execution end is not very good. Sierra is garbage.
I have CQG integrated client and also esignal.
I have CQG integrated client and also esignal.