The first thing you need to do, if you haven’t already, is to open a Tradestation Account.
Years ago, Tradestation was relatively expensive software. However, the company’s strategy has changed and they want more transaction volume rather than software fees. So they decided to give away their software and data for free to anyone with a funded account.
You will need to make the minimum deposit to open the account, but you do not have to leave these funds in the account to keep it open.
When it comes time to trade live, you will have the option to switch to Multicharts so that you can connect to a different brokerage account and/or an investor’s account.
If you already have experience with Multicharts and you have your data and broker set up there, then you can use Multicharts for the training.
If you do not have any software and just want to get started, then Tradestation will be significantly easier for learning.
Ultimately, you can trade at Tradestation, through Multicharts, or both.
To be clear, you do NOT need Multicharts now
To stay on track and hit the goal of having your system operating in 28 days you will need to complete this step right away because it takes a little time to get your Tradestation account approved and you can’t do anything without the software.
Note: We do not receive any compensation or incentives for referring you to Tradestation.