Which one of the following software, metastock and tradestation, is more suitable?? Please give some reasons.
More suitable for what? For who? That's like asking whether a mini-van or a Corvette is more suitable. I personally like the Vette, the soccer mom down the street with 4 kids finds the mini-van more suitable.
It has been awhile since I looked at Metastock but when I did I discovered that the programming language was more limited as to what you could do than Tradestation. Max
Like ArchAngel said, depending on your needs one may be more suitable than the other. That being said, I have both and do most of my work in Tradestation. If you want an external data feed (the shorter your holding period, the cleaner the feed you'll need) you should go with Metastock b/c you can put a third party feed into it (although there are rumors of third party vendors making external data feeds available for TS). If you want to "scan" stocks (actually neither one is really all that great for real-time scanning) then Metastock is fair (I think you can have a universe of around 2,000 stocks or so). TS can scan monitor real-time indicators but you're limited to 500 stocks for now. If you want an all-in-one package that's user friendly (for most people) then TS is good. TS is well supported and quite flexible in terms of what it can do. I like TS because of this. I also use them as a broker. I swing trade stocks and futures...any shorter of a time frame and I might consider a different broker... All else being equal, I would choose TS. But again...it depends on what your needs are...