TradeStation questions ...

Discussion in 'Retail Brokers' started by djxput, Oct 14, 2006.

  1. djxput


    First off let me tell you what I am using atm ...

    I'm using IB and Qcharts ...
    atm I am mainly 'paper-trading' and doing some small trades stocks/options.

    I plan to get into futures/forex once I feel more comfortable/confident (I've traded these in the past but I need to work on my trading plan before I get back into these guys).

    I just resigned up with Qcharts recently (just got back into trading); I have used Qcharts on and off for the past 8 years~.

    The main reason I like Qcharts:
    1. The way the charts look to me - very appealing charts
    2. Ease of going from the 5 min to the 60 to the daily to the weekly etc ...
    3. Ease of drawing trendlines etc on the chart.
    4. The large intra-day data base <<< very important to me.
    5. Hot lists are always nice.

    I've used IB for a number of years; and I really like thier commission rates. Their fills/execution seem decent. I dont use their charting at all (I find it archaic and clumsey).

    So ...

    This is where Tradestation comes in ...

    I dont know much about it besides from the few messages I have read and the info at their website.

    TS Questions:

    1. As far as I can tell their account minimum is 5k and I thought I read something where you cant let your account drop below that 5k? Did I read that right?

    2. Do you need to have serperate accounts with them to trade futures or stocks/options? I thought I saw something where you send your money to different places if you are going to do one or the other.

    3. So how are Tradestations commisions/fills/ any problems with them in terms of trading (down time etc ...)

    4. The Charting - I really dont know too much about TS's charts. But from what I can tell their charting looks decent
    my questions are ...
    a. Is it easy to switch from 5 min to 15 to 60 etc with their charts? and also is it easy to switch from one security to another?
    b. Do they offer a large intra-day data base (I thought I read that they do - just wanting to make sure). Ie can I bring up a 5min chart of the YM and go back a year and look at the intra-day 5 min?
    c. Is it easy to draw trendlines and will the chart save all your trendlines that you drew for future referance?
    d. Do you need to open a account to try their software ie demo?
    (it looks like you do - and thats alot of work just to see what the software is like).

    5. So what's the negative things about using tradestation? I read the thread on interest rates on your available cash. What else should I know that may be a concern.

    Right now I am using 2 programs for my trading; IB and Qcharts; and if tradestation can give me a similar trading platform as the above 2 programs I may just switch to using tradestation and save some money (since Qcharts costs upwards of 139$ a month with exchange fees etc ...)

    Before you suggest that I take a look at some of the other programs out there to use with IB; I've looked at alot of them and there are none that really appeal to me; although ensign looked decent (atm I'd rather pay the extra money for qcharts).

    -also if someone wouldn't mind if they could post a screen shot of a full screen tradestation chart using candles and having some trendlines on there (just need price and volume). I'd like to to see how it visually looks to me (I'd really like to try out the charting but dont really want to bother going through the hassel of opening an account ... so looking at a screenshot is all I can think of to help me get a feel for the program).

    thanks for the help

  2. Your welcome...:p
  3. <b>djx</b>, I used Qcharts for several years during my option trading period. Once switched to FX and futures, TS chart service has been my primary software (eSignal backup). I've never used TS on the broker side, zero experience there. A little about TS charts...

    Excellent for scrolling backwards in time. You can review three or five years' worth of price action data within seconds. Bottom of each chart has a slide bar that drags backward in time with ease.

    TradeStation charts look very much like Qcharts, and some functions are similar.

    Full array of chart tools, i.e. studies. Trendline tool is a bit less friendly that Qcharts used to be, but very functional. All annotations can be saved, of course.


    The only complaint I have with TS is why I switched from Qcharts in the first place: occasional tendency to freeze up during extremely high periods of volume. I run eSignal on another computer (with Ninja platform) and it has not locked up once in my years of use. TradeStation charts will occasionally freeze, like right after an FOMC news event, etc.

    Not often, but it has happened to me a number of times.


    That's pretty much it on my end... solid chart service, not perfect but none are. I have no affiliation with TS, this is purely one long-time user sharing real-time experience. Still like TS charts as my overall favorite period, after having used Qcharts - RealTick - eSignal and several other second-tier services thru the years.

    Hope this helps
  4. djxput


    It definately helps Austinp,

    thank you ... especially coming from someone who used Qcharts in the past and is focused on the charts (like I am).

    Well I still have those issues of chart lag with Qcharts and I notice now that I get dissconnected at least 1x a day and have to switch servers about 2x a day (just been using them for about a week).

    I've read some things on how TS isnt a good brokerage to use but their charting is good. And you kind of confirm this.

    I'm not looking to open 2 accounts at this time; but I may do that in the future and try their charting out but still use IB then and maybe do a few trades via TS.
  5. 9999


  6. bighog

    bighog Guest

    NO one is perfect. But tradestation are as good or better than 90% of those that are out there. I would only hope CQG would be better because i looked at their prices once and was amazed they had such nerve.

    Reliability is what matters most and TS had issues in the past when mkts got slammed with news or a FAST mkt situation. That is horrible in such a case. Thus when i used them i did not use as a broker, just charting.

    The charting is GOOD, very good 99% of the time. printouts are good and if you were gone on vacation etc, when you come back you can scroll back and get the intraday charts you missed.

    As for the 5k to be maintained, i never did that since i was using as a charting service only. They never complained as long as they got the monthly fee.

    Actually i am probably going back with them at beginning of the new year. I use 6 screens for charts and on a separate pc once i get em all set up..........just shut it off after the day is over and i did the days morning pop the pc on and "good to go".

    Again, excellent charts..........just skip the broker as your number 1 order entry platform.

    Something new also that is good as a backup................they now have a matrix (ladder, dome or whatever you want to call it as oneclick order entry..........maybe it is good. the good part is that you have it all on a seperate pc as a backup system. Good luck.........:)

    version77........... :D
  7. I actually was a big help wasn't I? Didn't I give a good response
    to the TS questions or did I forget? Oh, looks like I forgot to say
    anything. Well, I guess that is better than saying nothing...:p
  8. I hate you Tradestation!!!

    why are you always down???:confused: