Why would I use Metastock?

Discussion in 'Trading Software' started by gaussian, Dec 12, 2018.

  1. gaussian


    I see a lot of promotion for Metastock and overall it seems like great charting software.

    Given that it doesn't link to any brokers for order sending it seems to be exclusively an analysis tool. My initial impression of it is that if my broker provides the features of Metastock (charts, analysis, news, etc) why would I spend upwards of $250/mo. for a professional package on top of using my broker? For example, it provides less features than ThinkOrSwim for more money.

    There must be a reason. The software is incredibly popular and is supported by reuters eikon. Is anyone using it in conjunction with their broker? If so, why?
  2. Up until a couple of years aga, I'd used MetaStock for a long time. As far as "linking to brokers", it formerly did and perhaps still does(??), except you haven't figured out how to work that feature? Then again, newest version may not link/trade through other brokers. Have you discussed this with their tech support?
  3. gaussian


    The sales rep had told me that it doesn't link to brokers. It only goes through their data feeds. There's no "trading out" from it.
  4. If you decide to go that route, likely save you some $$ if you buy the software outright then just pay separately for the data package(s) you need.

    Don't they have like a 30 day trial period?
  5. gaussian


    Yeah, I'm just trying to figure out why I'd use it over say ThinkorSwim or something like MultiCharts? What is the big sell to it?
    greenmoose likes this.
  6. ZBZB


    The explorer let's you scan a database for technical criteria. Competitors are technifilter plus and www.stockfetcher.com
  7. I have had this exact same question for some time. Why would someone use any of the paid charting platforms such as Multicharts, Sierra Charts, NinjaTrader..........when the charting and data can be obtained for free or minimal fees compared to the data subscriptions, platform fees......
    tom2 likes this.
  8. tom2


    Well said. I started many years ago paying stacks of money for data and charting. Now all my requirements are met with Finviz (free, fundamental data), Investing.com (free, real time prices), StockCharts (free or minimal cost, for technical analysis) and Interactive Brokers (I find their charts entirely adequate for entry into swing and position trades). To newcomers: Don't waste your money on unnecessary data and charting services. While I'm here, another tip: Most of you will make much more money in intelligent position trading / investing than you would over shorter time-frames.

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