Mar 132017
 

Today I’m doing a review of the trading platform and broker, TradeStation

I use TradeStation for my own trading, and to develop indicators and strategies for my clients. So I thought I should tell you what I like about it, and what I don’t like. And if you want to open an account, you can get a 1/2 hour free consultation with me.

I’d like to say there’s only one reason I trade with TradeStation. But there isn’t.

Tradestation is really all-in-one. It is a platform with great tools, has a great datafeed, and is also a broker.

Trade Smarter Today – Open an Account at TradeStation (and get a 1/2 hour free consultation with me).

Great Platform with Great Tools

TradeStation has a desktop application, a web (browser) application, and apps for your phone or tablet, so you can monitor your trades whereever you are, with whatever device you have available.

TradeStation caters to every type of investor or trader: professional investors, speculators, institutional investers, traders like you and me.

Here’s a snapshot of the desktop application. At the top you see a slew of icons, so you can quickly and easily apply tools. On the left is a chart with several indicators showing. On the right is the Matrix, where you can click to place an order, see it appear, and drag it around to change its price.

TradeStation Review

You can also use a simulated account to practice trading, and you see that at the bottom of this image – it shows you what account you are trading on.

Here’s a picture I took right from TradeStation’s website showing a woman using TradeStation’s phone app to monitor her trade.

TradeStation Review

Use RadarScreen to Track Hundreds of Symbols

Using the RadarScreen, you can watch and rank up to 1,000 symbols in real time. You can use nearly any indicator on your symbols, and apply alerts, so you know when a stock or instrument is primed for a new trade, or an exit. Here’s a snapshot of a RadarScreen in action:

RadarScreen TradeStation Review

Trading Options? OptionStation Pro Shows it All

OptionStation Pro has:

  • Interactive position graphs
  • Integrated probability cones
  • Drop-and-drag position management

You can build, evaluate, trade and track your options strategy position with ease.

Here’s a picture of a typical OptionStation Pro screen:TradeStation Review OptionStation Pro

Write Your Own Indicators and Strategies – EasyLanguage

When I first got into trading, I of course did what comes naturally to me as a software developer – I started writing my own indicators and strategies. Because it is easy to get started writing in EasyLanguage, I just gravitated to TradeStation and EasyLanguage. It is true that it is not always easy if you are attempting to code up something a bit more complicated, but it is very easy to get started.

You can build indicators and strategies for charts and RadarScreen, you can load up a bunch of back data, and backtest and optimize with ease.

Also, if you run into trouble with this, or just need some help getting going, I can always help you – click here to find out more.

Awesome Telephone and Email Support

TradeStation has great telephone support – I am always amazed that they can answer quickly and answer knowledgeably. What a bonus! You don’t have to stay stuck for days on end waiting for answers. This is a big plus for me. If you have an EasyLanguage coding problem, instead of calling, you use the Forums, which I discuss next:

TradeStation Forums

I love the TradeStation Forums. Hundreds (thousands?) of traders are posting there all the time, and there is a wealth of help and information available. If you have an EasyLanguage problem, just post it in the Support Forum, and a TradeStation engineer will get back to you within a day. Complex problems get solved in a hurry this way.

You can search for answers to your problem, as well, and often find the answer has already been posted in response to another trader who asked the same or similar question.

Here’s a list of all the topics in the Forum:

TradeStation Review, Forums 1TradeStation Review Forums 2

Education – Video, Written, Webinar, Seminar

TradeStation has lots of stuff to teach you how to use TradeStation, and how to trade. They have:

  • Online and in-person training events
    • Often led by renowned traders
  • “Learning TradeStation” series
  • “Mastering the Art of TradeStation”

You can ask questions and get real-time answers during live webcasts.

TradingApp store

The TradeingApp store, available right from the trading platform, has hundreds of 3rd party tools – these are written by non-TradeStation coders, and many of them are pretty nifty. You should check it out! There are:

  • Indicators
  • Strategies
  • Other tools

What’s Not so Great

Of course every platform has some drawbacks. One of these for TradeStation is platform fees. It is $99.95 a month for the platform. Of course there are conditions where they will waive this fee. If you trade a sufficient volume of shares or contracts per month, or if you retain at least a $100,000 account balance, this fee is waived.

Depending on your commission agreement with TradeStation, you can get flat fee, per-share/contract or unbundled pricing for your commissions. Some commissions are quite competitive, others not so much.

TradeStation does not have any commission-free ETFs.

“Best in Class” awards every year

TradeStation, every year, receives plenty of awards. Here are just a few of them:

  • 2017
    • “Best Platform Technology”  – StockBrokers.com
    • “Best Trading System – Stocks and Futures” –  Stocks & Commodities
  • 2016
    • “Best for Frequent Traders” – Barron’s
    • “#1 for Equity Trading Tools” – Investor’s Business Daily
  • 2015
    • “Best for International Traders” – Barron’s

“TradeStation has become the gold standard among hardcore traders”

“Serious investors will appreciate having the same serious trading firepower at their fingertips as the pros.”

  – NerdWallet, Inc

Free 1/2 Hour Consultation

Clear the cookies from your browser! Then, if you are going to open an account at TradeStation, and would like to have a free 1/2 hour consultation with me about any TradeStation or EasyLanguage subject, just click the “Open an Account” button below.

But be sure to clear the cookies from your browser first, as that is the only way to assure you open your account through my link. As an affiliate, I do receive a small commission if you open your account through my link.

 (and get a 1/2 hour free consultation with me).

Then, once you have opened your account, contact me and we’ll set up a time for the consultation.

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