Advantage of Tradestation
Tradestation has offered an award winning trading platform with many features and advantages
- Competitive Pricing
- Including the broker function
- Online education
- Fast data
- Trading AppStore
This are the main advantages of Tradestation.
I personally have a Tradestation Account since 2008 and like to trade with Tradestation.
Beside the above mentioned advantages, I like to develop my own strategies. This is very easy, because they developed a programming language which they call “Easy Language”. In fact, it is really easy to understand and to program. Furthermore Tradestation offers a lot of free indicators, strategies and functions, which you can easily apply.
Advantage of Automated trading systems for Tradestation
I like to trade automated trading system for several reasons:
- You have a clear plan when and how to enter and to exit a trade.
- You get a performance report, which tell you all the numbers you need to decide whether it´s a good or a bad system.
- You don´t have to sit in front of the screen and to watch all the markets at once and to decide whether to enter a trade now or not.
- At trading hours you are free to do something else, for example develop new trading strategies 🙂
- You can trade simultaneously several markets and systems 24 hours.
- You don´t have to worry, that you miss an entry or exit signal.
- You don´t have to worry, that you missed one (or more) points on your checklist (plan) whether to enter or exit the trade.
Disadvantage of Automated trading systems for Tradestation
Of course you face some disadvantages with fully automated systems.
- If an unexpected event occurs, like 9/11 or an earthquake or something like this, you have to handle it manually.
- You have to care about your computer and internet connection. You may need a backup.
From my personal point of view, this is a minor point and I have to consider these points if I trade manually.
Where to find automated trading strategies
First of all you can look at the internet. Some developer offers their strategies on their own websites. Some strategies are to rent, others are only to buy.
When you buy a strategy, you have to decide, whether you want to know the code or not. Some developer sells both versions, some sell only not disclosed code.
Tradestations Trading AppStore
Since a few years Tradestation offers a marketplace for developer which want to rent their strategies and/or indicators. They call this market place “Trading AppStore”.
It is a very convenient place for provider and demander.
Demander can search for indicator or strategies. Furthermore you can look for trending, popular, new or highest rated products. Some products are even offered for free.
Usually the developers offers a free trial period. You can apply the strategy or indicator to your Tradestation platform and run backtest and look at the parameters of the strategy. Furthermore most of the developer offer additional explanations for the strategy and some offer personal support.
Create your own strategy
If you are not satisfied with your search, you can write your own strategy. Tradestation offers a lot of support, for example
- community of traders
For me the best place to look after good strategies is the Trading AppStore. Even though I program my own strategies and offer a few of them on the Trading AppStore, I look there periodically for new stuff.
What do you think? Where do you find good and reliable trading strategies?
I would like to read your thoughts and experiences.