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TradeStation or VT Trader

  • #1
  • First Post: May 17, 2006 2:38am May 17, 2006 2:38am
What can TradeStation do that VT Trader carn't?
They both look good but TS is $200+ p/m and VT is free.

I'm new to Forex (although I have traded stocks) and want to spen a few months learning and experimenting. It's probably logical to go with VT as it's free until I start making some money but I'm thinking about the learning curve of changing from VT to TS later. Am I better to spend the money now for TS and learn how to use it inside out ready for when I go live?
I don't want to have to go through months of learning how to use a new system so I'm wondering which one to go with?

Any advice would be much appreciated.
  • #2
  • May 17, 2006 2:54am May 17, 2006 2:54am
If you are new, then it's a no brainer. Go with VT. It's an excellent platform and you don't have to expend andy capital until you can easily afford it.

Once you start making money, try out some cheaper charting packages at first, like MCFX, GET, FibonacciTrader SRV, and a few others. Then move up as your trading increases in profit. Don't take on too much.

It's like buying a house. Buy resonable, build equity, sell and move up to another larger, more expensive house. Rinse and repeat.

I use FibonacciTrader SRV myself. It's not the grandest out there...but it has certain tools that I absolutely love.
Capital Preservation is key to long term wealth accumulation
  • #3
  • May 17, 2006 3:12am May 17, 2006 3:12am
where can i download it ?
  • #4
  • May 17, 2006 3:21am May 17, 2006 3:21am
http://www.cmsfx.com/en/platform/VTapi/

http://www.fibonaccitrader.com/ft_srv/defaultFLASH.htm
Capital Preservation is key to long term wealth accumulation
  • #5
  • May 17, 2006 3:21am May 17, 2006 3:21am
Quoting adam3000
where can i download it ?
http://www.fibonaccitrader.com/

My mentor uses it religiously... loves it... I have yet to try it.
Mr. Trend
  • #6
  • May 17, 2006 3:22am May 17, 2006 3:22am
Quoting uniopp
What can TradeStation do that VT Trader carn't?
They both look good but TS is $200+ p/m and VT is free.

I'm new to Forex (although I have traded stocks) and want to spen a few months learning and experimenting. It's probably logical to go with VT as it's free until I start making some money but I'm thinking about the learning curve of changing from VT to TS later. Am I better to spend the money now for TS and learn how to use it inside out ready for when I go live?
I don't want to have to go through months of learning how to use a new system so I'm wondering which one to go with?

Any advice would be much appreciated.
If you decide to go with TS, please let me know. I backtest my systems using TS and code them, so if you have questions, maybe I can assist.
Mr. Trend
  • #7
  • May 17, 2006 9:09am May 17, 2006 9:09am
Thanks for the feedback.
I would ultimately like to end up with TS and with limited time available I don't want to waste time on learning how to use the application. I want to devote all my time to learning how to read the charts, money management and custom stratergies. I guess there are a lot of similarities in using applications but then again things like custom strategies are probably programmed in different languages and will take the longest to learn. I don't mind learning the language but I don't really want to learn two.
Forex needs a lot of time and effort and I'm wondering if starting with the best application (which TS looks like to me but I'm open to your opinions) will give me a bit of a head start.
I don't mind spending the money now if the application is really going to be superior (indicators, stratergies, accuracy, etc.) as well as giving me a more visually user friendly experience with useful bells and whistles.
In addition, I've heard (but not sure if it's true) that it's easier to find books/custom stratergies/forum discussions/etc. for TS.
I guess I'm really looking for someone to tell me that TS is worth every cent of the $200+ p/m and that if I'm serious about being a proffesional Foerex trader I shouldn't hesitate.
Come on TS users, give me some feedback !!!!!
And all you VT users (that have also used TS) give me some reasons not to go with TS.
Thanks.

PS. I know a lot of users also use other applications but I would like to keep this thread discussion on just TS and VT. Thank you.
  • #8
  • May 17, 2006 12:49pm May 17, 2006 12:49pm
I use both VT and TS. They use the same type of logic in their coding. So the learning curve would be that great, if you're only starting in Forex and are interested in writing indicators and seeing how the forex moves VT will do this. Very well. You can even try basic trading systems.

But if you progress beyond this and want to write serious trading systems. This is where TS shines.

You can incorporate money-management. You can optimize you can run back test for years. Get everything and spreadsheets, and there are hundreds of add-ons from other companies. These are all things, That VT does not do as of yet.

PS: if you have any experience with metastock language. You already know how to write VT
A truly wise man, always has more questions than answers.
  • #9
  • May 17, 2006 1:03pm May 17, 2006 1:03pm
I use Tradestation 2ki and have been using tradestation going all the way back to TS 3 & 4 etc. I do not use new Tradestation because now they are brokerage, data provider, etc.

The new Tradestation also does not allow for trading overseas futures such as dax, etc.

But you can find 'anything' as far as indicator, system, etc because TS has been around for years.

I feed my ts2ki with esignal (domestic cme eminis & future currency contracts) and use a dde feed for the dealing rates from my forex broker.

You might want to take a look at multicharts which uses ts powereditor

Hopes this helps
  • #10
  • May 17, 2006 7:55pm May 17, 2006 7:55pm
Quoting Mr Trend
http://www.fibonaccitrader.com/

My mentor uses it religiously... loves it... I have yet to try it.
Mr Trend,

Some personal questions perhaps, but I'll ask anyway.

How did you find your mentor? Is this someone you know personally, or did you seek this person out? What is your expirience with your mentor? Obviously good, just by the tone of your comment. Do you pay your mentor?

I'm not asking to pry, only to understand how to find a mentor, and what it might cost.

I currently have a full time job, and am seriously trying to learn how to trade, as are a lot of other people on this forum. Having a mentor would be a great thing, but I'm not sure if my mini account and limited time available to actuallly trade would accomodate seeking out a mentor.

I do think of a lot of people here on this forum as mentors, but I get the impression your mentor is much more personal.

Thanks in advance,
Jimmy

I apologise for being off topic here.
  • #11
  • May 17, 2006 8:06pm May 17, 2006 8:06pm
Quoting dangerman
Mr Trend,

Some personal questions perhaps, but I'll ask anyway.

How did you find your mentor? Is this someone you know personally, or did you seek this person out? What is your expirience with your mentor? Obviously good, just by the tone of your comment. Do you pay your mentor?

I'm not asking to pry, only to understand how to find a mentor, and what it might cost.

I currently have a full time job, and am seriously trying to learn how to trade, as are a lot of other people on this forum. Having a mentor would be a great thing, but I'm not sure if my mini account and limited time available to actuallly trade would accomodate seeking out a mentor.

I do think of a lot of people here on this forum as mentors, but I get the impression your mentor is much more personal.

Thanks in advance,
Jimmy

I apologise for being off topic here.
I would like to add to this by saying that I am a member of the PF, which for me is an awesome learning experience, which I would highly recommend to anyone. I'm just looking for additional opportunities to learn.

Jimmy
  • #12
  • May 17, 2006 8:23pm May 17, 2006 8:23pm
Quoting uniopp
What can TradeStation do that VT Trader carn't?
They both look good but TS is $200+ p/m and VT is free.

I'm new to Forex (although I have traded stocks) and want to spen a few months learning and experimenting. It's probably logical to go with VT as it's free until I start making some money but I'm thinking about the learning curve of changing from VT to TS later. Am I better to spend the money now for TS and learn how to use it inside out ready for when I go live?
I don't want to have to go through months of learning how to use a new system so I'm wondering which one to go with?

Any advice would be much appreciated.
someone may have already mentioned it but TS is now 99 no account and free with one. truth be told im elmer fudd with a computer but ive used them all and nothing can touch TS. e-signal, q-charts, tc2000, genesis and others. maybe someday one of them will catch up but not yet. just my humble opinion. for you computer/code guys like merlin its like playing in the big leagues versus the minors.
  • #13
  • May 17, 2006 8:30pm May 17, 2006 8:30pm
Quoting james16
someone may have already mentioned it but TS is now 99 no account and free with one. truth be told im elmer fudd with a computer but ive used them all and nothing can touch TS. e-signal, q-charts, tc2000, genesis and others. maybe someday one of them will catch up but not yet. just my humble opinion. for you computer/code guys like merlin its like playing in the big leagues versus the minors.
Jim,

Does that mean that I can purchase tradestation, open an account with IBFX and tradestation will be free?

Jimmy
  • #14
  • May 17, 2006 8:39pm May 17, 2006 8:39pm
Quoting Claude
I use both VT and TS. They use the same type of logic in their coding. So the learning curve would be that great, if you're only starting in Forex and are interested in writing indicators and seeing how the forex moves VT will do this. Very well. You can even try basic trading systems.

But if you progress beyond this and want to write serious trading systems. This is where TS shines.

You can incorporate money-management. You can optimize you can run back test for years. Get everything and spreadsheets, and there are hundreds of add-ons from other companies. These are all things, That VT does not do as of yet.

PS: if you have any experience with metastock language. You already know how to write VT
Hi Claude,

I just would like to ask, if I were to plan on migrating to TS in the future, would you recommend starting with VT now?

As of the moment, I'm still studying programming with MT4 but not enough yet. So I guess I want to ask for your opinion if whether I should change to VT now or stay with MT4? This is again in view that I will be transferring to TS in the future.

I am just quite hesitant (? can't find the appropriate word) of continuing studying MT4 if it will be naught when I transfer to TS.

Oh, okay, I think I've got a shorter version for the above paragrapsh - Which starting point/route (VT or MT4) will give me more useful for me when I transfer to TS in the future?

Thanks and regards,
East
  • #15
  • May 17, 2006 8:44pm May 17, 2006 8:44pm
Quoting dangerman
Jim,

Does that mean that I can purchase tradestation, open an account with IBFX and tradestation will be free?

Jimmy
no its a tradestation/ rj,obrien partnership. they may have others now so give them a call. i keep an account funded with them just to get it free and have never placed one trade. no one has called me on it yet. i like low daytrading margins/commissions for futures not to mention option commissions. they are high on both so i stick with ibfx for forex and have two active futures accounts. one with direct trade and one with lions futures. futures brokers are notorious for hitting new traders with every bs fee you can think of. i wont pay more than 7 bucks round trip for a futures transac and 15 or so for an option transac WITH NO OTHER FEES. you can get those rates from just about anyone you just have to ask. its definatly worth calling and asking but i dont think ibfx is a partner.
  • #16
  • May 17, 2006 8:45pm May 17, 2006 8:45pm
Quoting eastmaels
Hi Claude,

I just would like to ask, if I were to plan on migrating to TS in the future, would you recommend starting with VT now?

As of the moment, I'm still studying programming with MT4 but not enough yet. So I guess I want to ask for your opinion if whether I should change to VT now or stay with MT4? This is again in view that I will be transferring to TS in the future.

I am just quite hesitant (? can't find the appropriate word) of continuing studying MT4 if it will be naught when I transfer to TS.

Oh, okay, I think I've got a shorter version for the above paragrapsh - Which starting point/route (VT or MT4) will give me more useful for me when I transfer to TS in the future?

Thanks and regards,
East
East,

Where DO you find the energy to do what you do?
  • #17
  • May 17, 2006 9:18pm May 17, 2006 9:18pm
Quoting dangerman
East,

Where DO you find the energy to do what you do?
Me? I'm also not sure..
Mostly from the inside but I also get them from the outside!

See just this comment of yours gives also some push..

So thanks too!

East
  • #18
  • May 18, 2006 12:41am May 18, 2006 12:41am
Quoting james16
no its a tradestation/ rj,obrien partnership. they may have others now so give them a call. i keep an account funded with them just to get it free and have never placed one trade. no one has called me on it yet. i like low daytrading margins/commissions for futures not to mention option commissions. they are high on both so i stick with ibfx for forex and have two active futures accounts. one with direct trade and one with lions futures. futures brokers are notorious for hitting new traders with every bs fee you can think of. i wont pay more than 7 bucks round trip for a futures transac and 15 or so for an option transac WITH NO OTHER FEES. you can get those rates from just about anyone you just have to ask. its definatly worth calling and asking but i dont think ibfx is a partner.
Are you saying that the trading platform (Market Center Direct FX trading platform) provided by RJ Obrien is TradeStation or the same?
  • #19
  • May 18, 2006 5:53pm May 18, 2006 5:53pm
Quoting dangerman
How did you find your mentor?
He was hired in my department about two years ago and as we became friends, I learned that he was a trader. I've always been interested in the markets, so I started to ask him about them, and then I started trading and then just went to him for questions. After awhile, I had been doing it so much, that he was just the guy I always went to for trading questions.

Quote
What is your expirience with your mentor? Obviously good, just by the tone of your comment.
It's been great. Obviously, after working with him for two years, we're now really good friends, even outside of work, but after him giving me tips and ideas about trading, and more importantly, coaching me on money management, and psychology, he just naturally became my mentor. And I think he thinks it's cool because he's been doing it for eight years, only works in his day job for the "extra money", and now has a "prodigy" with whom he can feel good that he's helping. Because he says that when he started, he had no one. He had to learn it all himself. And he went through a few accounts.
Quote
Do you pay your mentor?
No, but once I reach a certain goal that I've set, I'm gonna send him to Vegas on my tab or something. We usually go to ballgames and I pay just to pay him back a little for all of his help...
Mr. Trend
  • #20
  • May 18, 2006 6:06pm May 18, 2006 6:06pm
MrTrend,

Awesome responce!! I really appreciate it, I hope I can get that lucky one day.

If I do, I'll send you to Vegas

Jimmy
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