Metatrader vs Amibroker

Though plenty of softwares are  available for stock markets, these two softwares are more famous than the others in Indian scenario. Here i present some of their characteristics and details about edge over the other...

Metatrader

1. Metatrader is complete brokerage complex with full back office back end
2. Metatrader can't be connected your Real time feed direct from client end and feed is always restricted to what your broker provides.
3. A good custom indicator support is there based on MQ4 and trader can opt same for development for automatic trading strategies directly in platform
4. Backtester and genetic optimization for optimization stuff
5. Simple and Free client end and very user friendly even in few hours of 1st look around platform
6. A neat and clear charting features suffice above average purposes.


Amibroker

1. Amibroker a decent charting package and you can't trade straight from Amibroker or process your orders
2. External datafeed can be connected via local databases and plugins, so leaves some choice for selection of feed the client wish
3. AFL based coding and back testing possible, but not sure how accurate is its backtester
4. Scanners avaliable
5. Simple and neat interface

Before going demo to live account

Shifting from demo to live A/C is not an issue. But hasty decision may mar our account so before shifting please understand what we gonna need. For the following questions if u able to answer decisively, one can go ahead but if feeble YES or NO exist, just stay away and learn the tricks before you reenter. Because these things define you life....

•  Have you tried trading different time frames?
• Have you experimented with trading different styles?
• Have you been trading on a regular basis for six months or longer?
• Can you properly rationalize each trade you take?
• Are your winning trades outweighing your losing trades over a long term?
• Do you have a process for recording and reviewing your trades to improve performance?
• Have you made adjustments in your trading system after becoming discontent with the outcome?
• Are your winning trades outweighing your losing trades over a long term?

Of all forms of caution, caution in trading business is perhaps the most fatal to true happiness.
                                                            -- Ajith Bsc MBA