The TradeStation brokerage has continued to improve and expand since its inception in 1982. It offers an exceptional trading platform, and their clients have benefited for over 30 years and counting.
The Tools and Platforms
The TradeStation flagship product is its desktop platform. The primary focus involves managing positions, orders, and placing trades when a desktop application is unavailable.
Many traders appreciate the flexibility offered by Trade-Station since it supports multiple monitor capabilities.
TradeStation can service all types of professional investors including hedge fund institutions. Services such as customized scanning and back-testing are just a small part of the package offered by TradeStation.
Comprehensive charting lets investors customize indicators and engage in deep analysis. Clients have over 200 case studies and indicators at their disposal, and each of these options can be adjusted to match exact trading specifications.
Option traders have similar tools to meet their needs, including profit and loss charts and analyzing and scanning capabilities. Offerings including Walk-Forward optimizer, Radar Screen Matrix, and several other tools round out the variety of services.
Existing investors may take advantage of the TradingAPP Store, which includes some free products and products at various price ranges, and TradeStation seems primed to remain as a online growth company worth noting.
When it comes to investing, there are a lot of different elements that go into play. Whether you look at the stock market during an early morning before the bell rings, or you look at the hours that people work within the Forex trading options, you’ll find that within the stillness there’s an urgency to get an edge. The thing is that most people aren’t aware that an edge truly exists, and it’s not found within hours of study, even though some will adamantly tell you that it’s within formulas, charts, and mathematical data.
The Forex Difference
Unlike other trading options, you’ll find that Forex lends itself to a bit more frenetic pacing. Unlike the stock marketing, Forex allows you to make smaller dollar amounts. You’ll find that this marketplace lends itself to larger elements that can affect the price point of currencies. One shift in the global economic picture could derail currency for any particular country, which makes this a complicated endeavor.
In contrast, the New York Stock Exchange allows people to gain leverage within large trades and focuses on a variety of different elements overall. It’s within the elements that you’ll find incredible elements moving forward, if you have an edge, and you have a great deal of money. Forex has premarket conditions, but they are not in the same category as you’d find the NYSE. You’ll find that within the marketplace of currency pairings and changings, you’ll need to focus on tools to assist you. No “one” person can emulate tools like TradeStation, for instance. It’s within this tool set that you can figure out a great deal of leverage within the currencies, pairings, and more.
A seasoned element of trade comes through with the use of tools like TradeStation. Beginners will be lost when trying to get an edge here, which is why Forex trading should not be taken lightly. It’s not the same as NYSE trading, and even a powerful app like this one is not going to help if you don’t understand the currency market as a whole. Much like traders today are spending hours on end factoring in wrinkles within the stock exchange, Forex traders are getting an edge from professional grade tools that do the leg work for them.
Since it became a brokerage back in 1982, TradeStation has taken great pride of its role as one of the industry leaders in trader technology. It offers one of the best trading platforms available anywhere. It now has over 30 years of experience behind it, and it continues to improve and grow on into 2014. Here’s our review of the Tradestation Trading Platform.
Tools & Platforms
TradeStation has a desktop platform as its flagship product. It is its main core focus. Trading on the web was introduced as far back as 2013, but its current use is mainly for placing trades and managing positions and orders whenever the desktop application is out of reach.
There are multi-monitor traders who really appreciate the flexibility that TradeStation offers, as it supports multiple monitors enabling each monitor to maintain an open desktop workstation.
TradeStation has the tools to cater to nearly any type of professional investor. That includes institutions like hedge funds. Over 40 years of their historical data is available for performing equity trading, involving charting and studies. The backtesting done via Portfolio Maestro along with the customized scanning of market opportunities, only scratch the surface on all of the functionality they can offer.
The charting enables investors to get into some deep analysis and to customize indicators using multiple options. This is something that only competitors like the TD Ameritrade‘s ‘thinkorswim’ platform is able to compete with. Over 200 indicators and case studies are also available for inclusion. Each one of these is easily reworked or adjusted to fit with a trader’s exact specifications.
The option traders have by no means been forgotten. This is due to OptionStation Pro (a tool that is built into the platform). Scanning and analyzing potential trades has become a breeze, with traders able to view the traditional 2D and also the 3D P&L (profit and loss) charts. This is a benefit that is exclusive to TradeStation only. While having the 3D views is a nice addition, ultimately, they are more like good eye candy.
TradeStation also has a few other tools in its arsenal, like Radar Screen Matrix, Walk-Forward Optimizer, Scanner, and more.
One of the last crucial parts of TradeStations tools is its own proprietary coding language (EasyLanguage), that empowers traders to run wildly with indicator and trade customizations in their strategies. Clients are able to share/sell their work through the TradeStation TradingAPP Store, which was formerly known as the Strategy Network. There you can find FREE products as well as some that may run you around $50 a month, while others can run as high as $500 a month.
Over the long term, their TradingApp store expects to be something worth keeping an eye on. It was not formally launched until late in 2013. As of January of 2014, a lot of the apps still don’t have reviews listed. It is difficult to gauge the popularity because The TradeStation Trading Platform doesn’t display the number of clients who are using each specific app. One thing you can count on though, is that these apps were not meant for new investors. They’ve been built specifically for those investors who are experienced and seasoned, and those institutional traders who know and understand all the ins and outs of the marketplace.