MetaStock vs eSignal vs ShareScope

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Sheikhspeare

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Hi,

Can anyone give any advice on the best software to use to trade equiteis in the UK/US and perhaps other markets. I am an intermediate level trader and am of current looking to become a more active day trader. I have been looking for software that provides realtime accurate data and allows me to trade quickly and easily. I do not want to spend crazy amounts of money and thought that tradestation looks a little too complicated. I also did not want to have a software that states that i must have x amount of cash to start. I am starting small so came across eSignal and ShareScope. I would really like to hear any opinions and reviews. Thanks.

Kind regards,
Sheikh
 
I use sharescope and metastock .. I think for anyone starting out sharescope is a great tool. Just lacks data mining and customer indicators (which is when I cross over the metastock). Sharescope has intra day data (and 15 min lagged intra day data, so no good for intra day work but its worth a look). Download there demo and see what you think. Meta stock is a one off payment for the tool, then you can subscribe to data sites, or EODData which is free.
 
Hi Sheikh,
Welcome to T2W!
ShareScope is an excellent piece of software IMO for the right application. It's very UK centric, so it's not so good for the U.S. markets. They have three main products:
Gold - which is U.K. end of day (EoD) only
Plus - which is U.K and U.S. (and various indices and commodities) and includes 15 min delayed intra day data which I've never really understood the point of!
Pro - is their 'all singing all dancing' real time offering. Again, I think this is aimed at the U.K. market primarily. I day trade U.S. equities - for which I use eSignal. I've never come across a single U.S. day trader who uses ShareScope Pro - although I acknowledge there must be some somewhere! The support at eSignal is O.K. but it's absolutely 1st class at SS. This may be because SS is a much smaller company and can retain that user friendly personal touch much more easily than a larger outfit is able to do. To conclude, if your wanting to trade EoD, then SS Pro may meet all your needs but, if you need real time intra day data, then you may need to look further afield. I can't comment on Metastock as I have no experience of them.
Tim.
 
Thanks for your help. I think predominantly now i will be day trading U.S. equities. Does eSignal support UK equities too. I think i will take a more serious look at eSignal.
Sorry to sound like a novice but i am guessing eod just updates the prices when the market closes and real-time i guess is self eplanatory. I do not understand the need for EoD? What purpose does EoD serve?

Sheikh
 
Hi Sheikh,
I think eSignal carry live real time data for U.K. stocks but I don't know for certain. I suggest you check out their web site.
EoD data is data that's updated once a day after the market closes. This is all that most (but by no means all) swing traders and position traders need to make their decisions, as they tend to hold their positions for anything from a day or two up to months at a time. Some require intra day data to make their entry and exit decisions, but most don't. Conversely, while many day traders will look at daily charts (and longer timeframes too), only a small percentage of them use EoD charts exclusively in order to day trade. In other words, most of them use charts ranging from 1 minute - 4 hour intervals to time their intra day entries and exits.
HTH
Tim.
 
Sheikhspeare said:
I have been looking at eSignal and am going to go ahead with them.
Click to expand...
Hi Sheikh,
Before you make a final decision, you might want to look at Tradestation. If you're a mechanical trader (as opposed to a discretionary one), they tend to be the data provider of choice for many here on T2W. One down side to eSignal charts worth mentioning is their Point & Figure charts. They're the worst I've seen, completely unusable IMO! In all other respects though, I think they're pretty good - just my opinion mind!
Good luck,
Tim.
 
Metastock has my vote , esignal is not the most user friendly charting , you can definitly do a lot more with metastock more easily . I agree with Timsk in that if you know what your looking for tradestation is very good , radarscreen in particular being very usefull especially with large numbers of stocks ,which are tough to scan intraday anyother way, but if your still learning matastock is easier , easy language not being all that easy!!
 
Metastock is something a friend of mine has used since he was 19 he is now 42! the indicators are excellent and the software is very stable. ive just started using it as im just learning how to trade.
 
If you really are on a very tight budget use EOD yahoo.com free data. They have a glitch now and again but not too bad really.
 
Thanks guys. Will check out Metastock in more detail. Still have one week before my station arrives so have some time. It's difficult as they all have different strengths...My primary goal is day trading.
 
DigitalLook and ADVFN both provide intraday data(UK). Digitallook have a free to use live trading charts package but you are only allotted a certain amount of time. There are no indicators of real use either, but who needs them anyway? All the action is in the price candles/bars and volume IMO!
Most people sign up for MetaTrader 4 demo account with companies like northfinance for FOREX and some CFDs etc.
SaxoBank also have a decent package but you need to deposit an initial sum with them.
You could open an account with IGindex and use their excellent ProCharts package for free? You can backtest aswell but you need to have an idea about programming!
Grim
 
If he's going to be seriousley day trading U.S. stocks I suggest he'll need a little more than free data ,I just think having good charting and data will be money well spent becuase daytrading U.S stocks requires a certain commitment , in time and probably money aswell.
 
Keep in mind - if you use real time data with Metastock you are tied to their approved data proviors and end up paying a premium. Having paid +/- $1600 for software I rather resent paying $135 pm for accessing cbot data that would otherwise cost $55 pm direct.
 
Which kind of MetaStock for day trading?

Hello,

I would like to be a day trader as well.

Can someone adivce me which kind of MetaStock shell I choice? There is so many of them...

Thank you,
Arek

Sheikhspeare said:
Thanks guys. Will check out Metastock in more detail. Still have one week before my station arrives so have some time. It's difficult as they all have different strengths...My primary goal is day trading.
Click to expand...
 
Dont waste your money on Metastock. They used to be good but aren't much now and much too expensive.
 
eSignal 10.1

I wouldn't want to miss eSignal. Unless another one offers the same line tools like Fib Retracement or Fib Circle. I'm using them all the time.
Currently I'm running eSignal 8 (still).
Now eSignal has released Version 10.1.
I don't use AGET - too expensive, too useless. That's why I haven't installed the new version, because it seems that it's tailored for AGET users.

Has anybody upgraded to 10.1 and tell if there are any useful enhancements or changes (especially in line tools)?
 
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