Forex TradeStation

TradeStation’s software has many components that help clients complete their trades in a
very efficient way. This software offers a lot of independence to users, since its features and
parts are based on the client’s desire or necessity. This platform also allows traders to
create their own strategies and indicators based on EasyLanguage coding. TradeStation is
very user friendly, where everything is really visual and all the information is updated live
so users can make the right decisions at the right time. An example screenshot of

TradeStation is shown on figure 1.

EasyLanguage is the coding language created and developed by TradeStation for their software. This language is very similar to C, which gives simplicity to the code; this allows traders without advanced coding experience to easily learn the coding language. The six types of programs that can be done in Easy Language are: Indicator, ShowMe, PaintBar, ActivityBar, Probability Map, and Strategy. Indicators are just signals created to provide some particular information about the instrument that is being used, these are most likely plots added to the price charts; many traders base their trading decisions on various different indicators. Show Me is a type of indicator that “plots a dot on the bars in a chart
window based on a true/false condition”this indicator could be used as a guide for the
trader for when to take decisions about certain trades. PaintBar is similar to ShowMe, it
works on true/false statements and paints the bar completely or partially depending on the
Boolean conditions that have been stated before. The way ActivityBars work is allowing the
trader to see how the prices changed in a specific bar. This gives the user a more detailed
description of the activity of the price and how it changed. ProbabilityMaps are just, as the
name states, a probabilistic study of how the price is expected to be moving, based on
historical information. Finally, Strategies are the instructions given by the trader to the
platform to execute a trade; all these decisions may be done automatically by the platform.
Traders create their strategies based on different criteria, depending on the trader’s
personality, experience and objectives.

Additionally, TradeStation offers some valuable learning material that can be obtained
from their website. They have several written publications, videos, and books on their
website that are available for their customers. TradeStation has a special program called
“University” where traders, especially new members, can go through a learning experience
to get familiar with the software and learn about its features and components.
Furthermore, one of the biggest supports for customers is the website forum where users
can post their questions and get answers from people that have more experience in the
trading field; these people include TradeStation’s analysts and engineers. Finally,
TradeStation also has periodic events where they broadcast analysts and important people
in the trading business periodically, this to give more help to all the traders using
TradeStation.

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