what is metastock and metatrading?? | Forex Factory

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what is metastock and metatrading??

  • #1
  • First Post: May 27, 2006 9:11pm May 27, 2006 9:11pm
Hi,

I have been into forex for about 6 mnths but came across metastock only yesterday? what is it exactly? where is it used and what is its use? is there any place on the net where i can get a good tutorial on it? pls lemme know...
  • #2
  • May 27, 2006 9:17pm May 27, 2006 9:17pm
Tooools, never to many tools in your tool box.



MetaStock
watch the video on the right of the page.

MetaTrader
There is also something called MetaTrader.
It's also a charting software, free actually.


-ALex
  • #3
  • May 27, 2006 9:25pm May 27, 2006 9:25pm
i just went thru the net..i am given to understand that metatrader is some kind of software which builds charts and i can set it up using some language called mt4 to give me alerts when an indicator reaches some limit or something (what limit is decided by my trading strategy)...is that right??
  • #4
  • May 27, 2006 9:26pm May 27, 2006 9:26pm
There are actually unrelated software programs you're talking about.

MetaStock is a well respected charting program from a company called Equis and has been around for a long time. It mainly has an equities focus. Extremely popular amongst technical traders.

MetaTrader on the other hand has been primarily built as a complete FOREX trading platform with charts and all. And a pretty damn powerful one at that.
Different company/group altogether develops it and sells a solution, that supports it, to FOREX brokers.

It's FREE to all who want to use it. Check it out...

http://www.metaquotes.net/
Bundy's status today: "Waiting..."
  • #5
  • May 27, 2006 9:30pm May 27, 2006 9:30pm
i am mainly into forex...so i guess i need not worry abt metastock.....so where do i get the feed for metatrader...i downloaded the software metatrader from strategybuilderfx....i set up a demo account and it has a feed....so does that feed last endlessly or does it expire after a few days?? i use fxcm.com for my trading...is there some way i can integrate metatrader and my account at fxcm so that it trades automatically??
  • #6
  • May 27, 2006 9:33pm May 27, 2006 9:33pm
Quoting ns_karthik
i just went thru the net..i am given to understand that metatrader is some kind of software which builds charts and i can set it up using some language called mt4 to give me alerts when an indicator reaches some limit or something (what limit is decided by my trading strategy)...is that right??
Correct! ...It's a pretty handy package.

Not only that, you can actually build "expert advisors" using the same language that can even trade a live account for you. Wether the one you choose loses money or makes money is another thing.
Bundy's status today: "Waiting..."
  • #7
  • May 27, 2006 9:37pm May 27, 2006 9:37pm
so how do i integrate this into my trading station at fxcm.com so that it can trade automatically for me??
  • #8
  • May 27, 2006 9:37pm May 27, 2006 9:37pm
Quoting ns_karthik
i am mainly into forex...so i guess i need not worry abt metastock.....so where do i get the feed for metatrader...i downloaded the software metatrader from strategybuilderfx....i set up a demo account and it has a feed....so does that feed last endlessly or does it expire after a few days?? i use fxcm.com for my trading...is there some way i can integrate metatrader and my account at fxcm so that it trades automatically??
Your demo feed probably lasts 30 days.

The easiest way to have automated trading would be to actually open a live account with your MetaTrade capable provider. (i.e. StrategyBuilder)

Though I think if FXCM has an API available you could "technically" write something to trade them with MetaTrade. It's wouldn't be the easiest path at all though.
Bundy's status today: "Waiting..."
  • #9
  • May 27, 2006 9:41pm May 27, 2006 9:41pm
ok...but opening an account at strategybuilder requires me to deposit $5000...that is too much for me....is there some place where i can autotrade using mt4 and which requires only $300-$500?? i would also like to use credit cards to deposit cos sending personal checks is a long process and wire transfer is costly....pls lemme know....
  • #10
  • May 27, 2006 9:53pm May 27, 2006 9:53pm
Look at this thread.
http://www.forexfactory.com/forexfor...ead.php?t=5536

Thanks Scott


Quoting ns_karthik
ok...but opening an account at strategybuilder requires me to deposit $5000...that is too much for me....is there some place where i can autotrade using mt4 and which requires only $300-$500?? i would also like to use credit cards to deposit cos sending personal checks is a long process and wire transfer is costly....pls lemme know....
  • #11
  • May 27, 2006 9:55pm May 27, 2006 9:55pm
Quoting ns_karthik
ok...but opening an account at strategybuilder requires me to deposit $5000...that is too much for me....is there some place where i can autotrade using mt4 and which requires only $300-$500?? i would also like to use credit cards to deposit cos sending personal checks is a long process and wire transfer is costly....pls lemme know....
InterbankFX allows smaller accounts like that. And Hedging etc
I noticed though that they don't take credit card deposits. I'd rather it that way too. Even if they wanted to wait a couple of days to confirm it. That was the only bad point I could see against my needs.

Just to clarify. My MetaTrade experience is only through a demo account at this point in time. I'm live trading manually through Gain Capitals ancient Forex.com platform.

Check out CMS's VT-Trader too out of interests sake. They have a demo available too. It's not as powerful as MetaTrade but probably easier to create Indicator Buys/Sells.
Bundy's status today: "Waiting..."
  • #12
  • May 27, 2006 9:56pm May 27, 2006 9:56pm
thanks a lot sm...any idea which one of these is good??
  • #13
  • May 27, 2006 9:59pm May 27, 2006 9:59pm
I have used Interbank and they are good in their live version. their demo is a bit weak. but I have not tried the others. That is just a complete lisiting that Avlazov compiled... You may want to ask him if he has tried any...

Thanks Scott


Quoting ns_karthik
thanks a lot sm...any idea which one of these is good??
  • #14
  • Last Post: May 27, 2006 10:40pm May 27, 2006 10:40pm
I believe strategybuilderfx has partnered with several brokers so that you can trade live with their platform. Some of these brokers offer mini accounts that require only $300-$500 to open. Hope this helps
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