New to trading - what's your opinion on these options

Discussion in 'Trading Software' started by ccasadei, Mar 11, 2004.

  1. ccasadei


    I'm new to trading and I'm trying to select a good charting platform - here are some of my thoughts:

    - QCharts - evaluated for 30 and really liked, speed, hot lists, charts but I think it's a bit pricey.

    - eSignal - currently evaluating it... I think the datafeed is bit more reliable but the software has a lot to improve.. quote lists are very hard to use, not friendly... and charts could be better...

    - Metastock with eSignal - better charting platform - I like Metastock usability

    - Metastock with EOD from free software downloads - have to download data every night

    - Amibroker - cheaper, good layout but I don't think it's appropriate for real time trading... good for EOD

    - - like the charts and the fact that I can use it anywhere... web interface is not very user friendly or productive

    I want to trade stocks both EOD and realtime (sometimes)...

    Important things for me are:
    - good charting capabilities with drawing (important)
    - have a consolidated vision - charts in multiple time frames
    - portfolio tracking

    Thanks !
  2. SierraCharts

    Don't trade

    Read "New Traders Thread"

    Observe, pay attention, have healthy scepticism for all claims

    Study, take it very slowly, when you finally start, trade small

    Good luck.
  3. signals


    Why do you feel this way? Amibroker charts in real-time work great. $199 for RT software is not bad. That's roughly equivalent to one month of eSignal.

    You might also want to look at:

    Ensign, Quotetracker, Realtick and TCNET.

    Choice of charting software is a personal decision since the GUI and appearance need to match a persons' thinking and personal tastes. The best thing is to try them all out as you have been doing until you find the right fit.

    IMO since you are starting out, consider using the least expensive packages and focus on the fundamentals of your trading. Tons of features and indicators can just cause confusion. As you learn more and get better at trading you might need the features that some of the higher end packages provide.

    Good trading! :cool:
  4. traderob


    others well worth checking out are medvedQT and tahoecharts.
  5. I picked Amibroker R/T and so far am happy with the decision. I think the kicker is that the price is right and you can start developing your database immediately with free EOD data downloaded off the net, instead of having to pay for e-signal or tradestation while you develop your strategies. I see myself taking up to a year to do so, so that's about $1500 down the drain, or $199 for the amibroker. Easy choice.

    I like that you OWN the amibroker program and don't have to rent it. I also like that it resides on your computer. If they go under, etc... at least you have your program functional until you can get something else.

    The charting is good, and the backtester seems quite good, which is about all I care about, anyway.
  6. Well...I guess I have a different take on this....When I first started out, I wanted the best.....I did not want to be trapped and limited to what a program had to offer....

    So do not exclude charting platforms such as

    Michael B.

    P.S. I am convinced if they lowered their prices by 50% their volume would shoot up 1000 percent....but thats just my opinion. You actually get what you pay for with Investor R/T, but they are pricing themselves out of the market....
  7. signals


    Then please consider why they start pilots out in small single engine planes rather than F-15's.
  8. alanm


    Bad analogy, IMHO. F15s cost a whole bunch more, and are much harder to fly/less forgiving for a new pilot.

    "Better" software platforms are easier to use than cheaper ones. Those better platforms are often more expensive because they involve more people in design and testing instead of just a single programmer wearing all hats.

    "More features" does not have to mean "hard to use". The best software design is one that lets a beginning user get up to speed quickly, while still having the flexibility to suit and adapt to more sophisticated needs.
  9. Well...yes....but it is not as efficient as you say.....For example Investor R/T only has Dr. Linn and programmers They are a bit overpriced...but you definately get what you pay for. I believe they could market themselves better and increase volume with a lower price to boot....So I have good and bad things to say about them.....

    Michael B.

  10. alanm


    I really didn't put that very well. I was just trying to say that just because a package is expensive and feature-rich, it does not have to be harder to use. In fact, it should normally be the opposite because of the producer having better resources.

    Of course, as ES said, having a couple of great core people can outweigh a large staff of mediocrity :)
    #10     Mar 17, 2004