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William Thomas
William Thomas

How to Master TradeStation 9.1 and Its Powerful Features


TradeStation 9.1: A Review of the Legacy Trading Platform




If you are an active trader who is looking for a powerful and reliable trading software that can help you scan the markets, execute your trades, analyze your performance, and automate your strategies, you might have heard of TradeStation. TradeStation is one of the most popular and award-winning trading platforms in the industry, offering a range of features and benefits for traders of all levels.




tradestation 9.1



However, you might not be aware that there are different versions of TradeStation available, each with its own characteristics and functionalities. One of these versions is TradeStation 9.1, which is a legacy version of the platform that was released in 2012. Although it is not the latest or most advanced version of TradeStation, it still has some loyal users who prefer it over newer versions or other platforms.


In this article, we will review TradeStation 9.1 in detail, covering its features and benefits, how to download and install it, how to use it effectively, its pros and cons, and some frequently asked questions. By the end of this article, you will have a clear understanding of what TradeStation 9.1 is and whether it is suitable for your trading needs.


Features and Benefits of TradeStation 9.1




TradeStation 9.1 is a desktop-based trading platform that offers a variety of features and benefits for active traders who want to trade stocks, futures, options, forex, and more. Some of the main features and benefits of TradeStation 9.1 are:


RadarScreen




RadarScreen is a powerful market-scanning tool that monitors and ranks up to 1000 symbols in real-time based on customizable criteria. You can use RadarScreen to scan the markets for trading opportunities, identify trends and patterns, set alerts, and execute trades directly from the screen. RadarScreen also supports EasyLanguage, which means you can create your own indicators and scans using simple English-like statements.


EasyLanguage




EasyLanguage is a proprietary programming language that allows traders to design customized indicators and trading strategies using English-like statements. You can use EasyLanguage to create your own technical analysis tools, such as moving averages, oscillators, trend lines, and more. You can also use EasyLanguage to create your own trading systems, such as entry and exit rules, risk management, and order execution. EasyLanguage is easy to learn and use, even if you have no prior programming experience.


Strategy Back-Testing




Strategy back-testing is a feature that enables traders to test, optimize, and automate their trade ideas across any stock or future with historical market data. You can use strategy back-testing to evaluate the performance of your trading strategies, such as profitability, drawdowns, win/loss ratios, and more. You can also use strategy back-testing to optimize your strategy parameters, such as stop-losses, profit targets, and entry signals. You can also use strategy back-testing to automate your trading strategies, which means you can let TradeStation execute your trades for you according to your predefined rules.


Matrix




Matrix is a versatile order-entry and order-tracking tool that combines the benefits of a market depth window and a quote window. You can use Matrix to view the bid/ask prices, volume, and order book of any symbol in real-time. You can also use Matrix to place, modify, cancel, and track your orders with a single click or drag-and-drop. Matrix also supports advanced order types and features, such as OCO (one cancels other), OSO (one sends other), trailing stops, brackets, and more.


OptionStation Pro




OptionStation Pro is a cutting-edge options analysis application that helps traders visualize the options markets and find optimal strategies. You can use OptionStation Pro to view the options chains of any underlying symbol, along with the implied volatility, delta, gamma, theta, vega, and rho of each option. You can also use OptionStation Pro to analyze the risk/reward profiles of any option strategy, such as spreads, straddles, strangles, butterflies, condors, and more. OptionStation Pro also provides tools and features to help you optimize your option trades, such as volatility cones, probability maps, strategy graphs, and more.


How to Download and Install TradeStation 9.1




If you are interested in using TradeStation 9.1, you might be wondering how to download and install it on your computer. Here are the steps you need to follow:


  • Go to the official TradeStation website and click on the "Platform" tab.



  • Scroll down to the bottom of the page and click on the "Legacy Download" link.



  • Select the "TradeStation 9.1" option and click on the "Download Now" button.



  • Enter your TradeStation username and password and click on the "Login" button.



  • Follow the instructions on the screen to download and run the TradeStation 9.1 installer.



  • Agree to the terms and conditions and complete the installation process.



  • Launch TradeStation 9.1 from your desktop or start menu and log in with your TradeStation username and password.



Congratulations, you have successfully downloaded and installed TradeStation 9.1 on your computer. You are now ready to use it for your trading activities.


How to Use TradeStation 9.1 Effectively




Now that you have TradeStation 9.1 on your computer, you might be wondering how to use it effectively for your trading needs. In this section, we will show you how to customize your workspace, how to use RadarScreen to scan the markets, how to use EasyLanguage to create your own indicators and strategies, how to use strategy back-testing to evaluate your performance, how to use Matrix to enter and manage your orders, and how to use OptionStation Pro to analyze and trade options.


How to Customize Your Workspace




One of the first things you might want to do when you launch TradeStation 9.1 is to customize your workspace according to your preferences. A workspace is a collection of windows, toolbars, menus, and charts that you can arrange and modify as you wish. You can create multiple workspaces for different purposes, such as market analysis, order execution, strategy development, etc.


To customize your workspace, you can use the following options:


  • To add a new window, such as RadarScreen, Matrix, OptionStation Pro, etc., go to the "File" menu and select "New" and then choose the type of window you want.



  • To move a window, click on its title bar and drag it to the desired location.



  • To resize a window, click on its border and drag it inward or outward.



  • To dock a window, drag it to the edge of another window or the edge of the screen until a blue outline appears and then release it.



  • To undock a window, double-click on its title bar or drag it away from its docked position.



  • To close a window, click on the "X" button on its title bar or right-click on its tab and select "Close".



  • To add a new toolbar, go to the "View" menu and select "Toolbars" and then choose the type of toolbar you want.



  • To move a toolbar, click on its handle (the vertical dotted line at its left end) and drag it to the desired location.



  • To customize a toolbar, right-click on its handle and select "Customize". You can then add or remove buttons, change their order, size, or appearance, etc.



  • To close a toolbar, right-click on its handle and select "Close".



  • To add a new menu, go to the "View" menu and select "Menus" and then choose the type of menu you want.



  • To move a menu, click on its name and drag it to the desired location.



  • To customize a menu, right-click on its name and select "Customize". You can then add or remove items, change their order, name, or shortcut keys, etc.



  • To close a menu, right-click on its name and select "Close".



  • To add a new chart, go to the "File" menu and select "New" and then choose "Chart Analysis Window".



  • To move a chart, click on its title bar and drag it to the desired location.



  • To resize a chart, click on its border and drag it inward or outward.



  • To customize a chart, right-click on it and select "Format Symbol", "Format Window", "Format Analysis Techniques", or "Format Strategies". You can then change the symbol, time frame, data range, indicators, strategies, colors, fonts, styles, etc.



  • To close a chart, click on the "X" button on its title bar or right-click on its tab and select "Close".



By customizing your workspace, you can create a personalized and efficient trading environment that suits your needs and preferences.


How to Use RadarScreen to Scan the Markets




RadarScreen is one of the most powerful and useful features of TradeStation 9.1. It allows you to monitor and rank up to 1000 symbols in real-time based on customizable criteria. You can use RadarScreen to scan the markets for trading opportunities, identify trends and patterns, set alerts, and execute trades directly from the screen.


To use RadarScreen effectively, you can follow these steps:


  • Add symbols to RadarScreen by clicking on the "Insert Symbol" button on the toolbar or by typing the symbol name in the input box at the bottom of the window. You can also use the "Symbol Lookup" feature to search for symbols by name, exchange, sector, industry, etc.



  • Add indicators to RadarScreen by clicking on the "Insert Analysis Technique" button on the toolbar or by right-clicking on any column header and selecting "Insert Column". You can choose from hundreds of built-in indicators or create your own using EasyLanguage. You can also add strategies to RadarScreen by clicking on the "Insert Strategy" button on the toolbar or by right-clicking on any column header and selecting "Insert Strategy Column". You can choose from dozens of built-in strategies or create your own using EasyLanguage.



  • Set alerts to RadarScreen by clicking on the "Alerts" button on the toolbar or by right-clicking on any cell and selecting "Set Alert". You can set alerts based on various conditions, such as price crossing a certain level, indicator value changing direction, strategy generating a signal, etc. You can also choose how to be notified of the alerts, such as by sound, email, text message, etc.



  • Execute trades from RadarScreen by clicking on the "Trade" button on the toolbar or by right-clicking on any cell and selecting "Trade". You can place market orders, limit orders, stop orders, or advanced orders directly from RadarScreen. You can also modify or cancel your orders from RadarScreen by right-clicking on them and selecting the appropriate option.



  • Sort and filter the results in RadarScreen by clicking on any column header to sort the symbols by ascending or descending order based on that column's value. You can also use the "Filter" feature to filter out symbols that do not meet certain criteria, such as price range, volume range, indicator value range, etc.



By using RadarScreen effectively, you can scan the markets for trading opportunities in real-time and act on them quickly and easily.


How to Use EasyLanguage to Create Your Own Indicators and Strategies




EasyLanguage is a proprietary programming language that allows traders to design customized indicators and trading strategies using English-like statements. You can use EasyLanguage to create your own technical analysis tools, such as moving averages, oscillators, trend lines, and more. You can also use EasyLanguage to create your own trading systems, such as entry and exit rules, risk management, and order execution. EasyLanguage is easy to learn and use, even if you have no prior programming experience.


To use EasyLanguage effectively, you can follow these steps:


  • Open the EasyLanguage Editor by clicking on the "EasyLanguage" menu and selecting "EasyLanguage Editor".



  • Create a new indicator or strategy by clicking on the "File" menu and selecting "New" and then choosing "Indicator" or "Strategy".



  • Enter a name and a description for your indicator or strategy in the dialog box that appears.



  • Write your code using EasyLanguage syntax, functions, variables, and operators. You can use the "Help" menu or the "F1" key to access the EasyLanguage reference guide and examples.



  • Verify your code by clicking on the "Verify" button on the toolbar or by pressing the "F3" key. This will check your code for any errors or warnings and display them in the output window.



  • Save your code by clicking on the "Save" button on the toolbar or by pressing the "Ctrl+S" keys.



  • Apply your indicator or strategy to a chart by right-clicking on the chart and selecting "Insert Analysis Technique" or "Insert Strategy" and then choosing your indicator or strategy from the list.



  • Modify your indicator or strategy settings by right-clicking on it and selecting "Format Analysis Technique" or "Format Strategy". You can change the inputs, outputs, colors, styles, etc. of your indicator or strategy.



By using EasyLanguage effectively, you can create your own indicators and strategies that suit your trading style and objectives.


How to Use Strategy Back-Testing to Evaluate Your Performance




Strategy back-testing is a feature that enables traders to test, optimize, and automate their trade ideas across any stock or future with historical market data. You can use strategy back-testing to evaluate the performance of your trading strategies, such as profitability, drawdowns, win/loss ratios, and more. You can also use strategy back-testing to optimize your strategy parameters, such as stop-losses, profit targets, and entry signals. You can also use strategy back-testing to automate your trading strategies, which means you can let TradeStation execute your trades for you according to your predefined rules.


To use strategy back-testing effectively, you can follow these steps:


  • Create a new chart analysis window by clicking on the "File" menu and selecting "New" and then choosing "Chart Analysis Window".



  • Add a symbol to the chart by clicking on the "Insert Symbol" button on the toolbar or by typing the symbol name in the input box at the bottom of the window.



  • Add a strategy to the chart by right-clicking on the chart and selecting "Insert Strategy" and then choosing a built-in or custom strategy from the list.



  • Set up and run a back-test by right-clicking on the chart and selecting "Strategy Properties". You can then choose the data range, trade size, commission, slippage, etc. for your back-test. You can also click on the "Back-Testing" tab to enable or disable various options, such as pyramiding, scaling in/out, reversing position, etc. When you are ready, click on the "OK" button to run the back-test.



  • Interpret the results of your back-test by clicking on the "View" menu and selecting "Strategy Performance Report". You can then view various statistics and graphs that show how your strategy performed over time. You can also compare different strategies or scenarios by clicking on the "Compare" button on the toolbar.



  • Optimize your strategy parameters by clicking on the "Optimize" button on the toolbar or by right-clicking on the chart and selecting "Optimize Strategy". You can then choose the parameters you want to optimize, such as stop-loss, profit target, entry signal, etc. You can also choose the optimization method, such as exhaustive, genetic, or walk-forward. When you are ready, click on the "OK" button to run the optimization.



  • Automate your strategy by clicking on the "Automate Execution" button on the toolbar or by right-clicking on the chart and selecting "Automate Execution". You can then choose the account you want to trade with, the order confirmation mode, and the synchronization mode. When you are ready, click on the "OK" button to enable automation. TradeStation will then execute your trades for you according to your strategy rules.



By using strategy back-testing effectively, you can test, optimize, and automate your trade ideas and improve your trading performance.


How to Use Matrix to Enter and Manage Your Orders




Matrix is a versatile order-entry and order-tracking tool that combines the benefits of a market depth window and a quote window. You can use Matrix to view the bid/ask prices, volume, and order book of any symbol in real-time. You can also use Matrix to place, modify, cancel, and track your orders with a single click or drag-and-drop. Matrix also supports advanced order types and features, such as OCO (one cancels other), OSO (one sends other), trailing stops, brackets, and more.


To use Matrix effectively, you can follow these steps:


  • Add a symbol to Matrix by clicking on the "Insert Symbol" button on the toolbar or by typing the symbol name in the input box at the bottom of the window.



  • View the market depth of the symbol by looking at the columns that show the bid/ask prices, volume, and order book. You can also see the last traded price, volume, and time in the top row of Matrix.



  • Place an order from Matrix by clicking on the price level you want to trade at or by dragging and dropping an order ticket from the toolbar. You can choose from market orders, limit orders, stop orders, or advanced orders. You can also specify the quantity, duration, route, account, etc. of your order.



  • Modify an order from Matrix by clicking on it and dragging it to a new price level or by right-clicking on it and selecting "Modify Order". You can change the price, quantity, duration, route, account, etc. of your order.



  • Cancel an order from Matrix by clicking on it and pressing the "Delete" key or by right-clicking on it and selecting "Cancel Order".



  • Track your orders from Matrix by looking at the icons that indicate their status, such as filled, partially filled, working, canceled, rejected, etc. You can also see the profit/loss, average price, and commission of your orders.



  • Use advanced order types and features from Matrix by right-clicking on an order and selecting the appropriate option. You can use OCO orders to place two orders that cancel each other if one is filled. You can use OSO orders to place two orders that are sent together if one is filled. You can use trailing stops to adjust your stop price according to the market movement. You can use brackets to place a profit target and a stop loss at the same time.



By using Matrix effectively, you can enter and manage your orders with speed and precision.


How to Use OptionStation Pro to Analyze and Trade Options




OptionStation Pro is a cutting-edge options analysis application that helps traders visualize the options markets and find optimal strategies. You can use OptionStation Pro to view the options chains of any underlying symbol, along with the implied volatility, delta, gamma, theta, vega, and rho of each option. You can also use OptionStation Pro to analyze the risk/reward profiles of any option strategy, such as spreads, straddles, strangles, butterflies, condors, and more. OptionStation Pro also provides tools and features to help you optimize your option trades, such as volatility cones, probability maps, strategy graphs, and more.


To use OptionStation Pro effectively, you can follow these steps:


Add a symbol to OptionStation Pro by clicking on the "Insert Symbol" button on the toolbar or by typing the symbol name in the input box at the bottom of the wi


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