TS isn't even in the same league, nay the same planet. What I like about TDA is the customer service. You can't get quotes on everything either.
There are many things that are less than ideal, such as the documentation and the ability to only algo trade shares and options (no forex, futures, futures options). I have accounts with both TDA and TS.Īs someone who has published a library for TDA's API, I am fairly well aware of its pros and cons. I think it depends what you want to optimize for. I'm just using the term to describe 'a platform that offers automated trading'. So, again, I'm not trying to promote TradeStation. If I continue down this path I may actually end up using MultiCharts (which I already own but have not used) connected to Interactive Brokers.
I also realize posting this question in this forum is going to get me a lot of down votes. PS I'm aware of NinjaTrader and others but I don't really see the appeal over TradeStation. Maybe there are some factors I have not considered. I'm asking myself the same question, but I'd like to hear your reasons too.
If you have a back tested strategy that you trust why sit at the computer clicking buy and sell? Why not go for automation? Why not make the leap to something like TradeStation where you can do pretty much everything you are doing now, plus automation? I'm not trying to criticize.
But I see a lot of people just hanging out in TOS for years and years. I get that not everyone wants an automated system, but if you are going to the trouble of coding Studies and Strategies and back testing them it seems natural you would want to take the next step. Which makes me wonder why serious traders even use TOS. But of course if you can make it that far, then you start thinking about taking it one step further and creating an automated trading system, which unfortunately TOS cannot do. And once satisfied use their signals to manually enter real trades in live trading. Lately I've been digging into thinkScript to code my stuff into Strategies and backtest them. Discretionary trading of equities and options.
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