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Multicharts trading cryptocurrency


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Multicharts trading cryptocurrency

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  #1 (permalink)
 wilkinsw 
London UK
 
Experience: Intermediate
Platform: Tradestation, Multicharts, MarketDelta
Trading: Currency Futures
 
Posts: 9 since May 2013
Thanks: 0 given, 3 received

Hi,

Is anyone out there using Multicharts to trade cryptocurrency?

I only trade futures and would love to broaden my product base.

What brokers are offering access to crypto and which crypto exchanges should I be looking at?

Thanks.

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  #2 (permalink)
strmci
Prague, Czech Republic
 
 
Posts: 13 since Sep 2014
Thanks: 13 given, 0 received

Hi,
We are using Multicharts to backtest our algos with data downloaded from exchanges and we are running them with our own python scripts connected via api.

I think multicharts offers now trading on bitfinex.

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  #3 (permalink)
Lonhro
Dublin
 
 
Posts: 7 since Oct 2020
Thanks: 3 given, 6 received



wilkinsw View Post
Hi,

Is anyone out there using Multicharts to trade cryptocurrency?

I only trade futures and would love to broaden my product base.

What brokers are offering access to crypto and which crypto exchanges should I be looking at?

Thanks.

Hi Buddy,

I exclusively trade Cryptocurrencies for a living. I can recommend using the free version of Quantower that has a DOM and multiple connections to many most Crypto exchanges. It definitely has the most out of any platform so far. Trading Technologies has access to about 3, but QT has a free version. For solid charting, Tradingview charts most cryptocurrencies and has a free version.


In terms of exchanges, it depends on what you want to trade. If it's strictly Bitcoin or Ethereum futures, I can recommend Deribit. They also have the biggest options exchange in the space.But their Futures have good liquidity and they don't have regular outages unlike their main competitor Bitmex (Who is has been issued a notice by SEC). Just be aware on Deribit you have to use either BTC or ETH as collateral for the trade and also make you to trade the PERPETUAL futures and not the calendar futures. As the perps have the most liquidity.

If you want to trade altcoin futures or the actual real (SPOT) currencies. You will have to go through Binance Futures, who has the most volume and selection of Altcoin futures. Or Binance (SPOT) exchange which is the biggest spot exchange. You can also use the stablecoin Tether (USDT) that is pegged to trade these products on Binance/Binance Futures)

You can use Quantower to trade either exchange.

Feel free to shout out if you have more questions. I want the crypto forum to have more discussions.

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  #4 (permalink)
 GammaHammer 
Zurich
 
Experience: Master
Platform: TWS,TradeStation,LiveVol
Broker: IQFeed
Trading: Derivatives,FX
 
Posts: 2 since Nov 2013
Thanks: 1 given, 1 received

Hi Lonhro,

thank you very much for recommending Quantower -- I like it at lot at first glance.

I am also trading Crypto for a living; mostly discretionary, but I'd like to automate some of my strategies.

In the 'legacy' futures market, I used in the past Multicharts/Tradestation, but they do not offer crypto (yet) which is a pity as the software is really powerful.

However, it seems NinjaTrader offers plugins for the Deribit futures which is a good way to start.

I experimented with HaasBot ( https://www.haasonline.com/ ) and AlgoTrader ( https://www.algotrader.com/ ), but due to my limited coding knowledge didnt go deeper into it yet.


Did you try out Bookmap yet ( https://bookmap.com/crypto/ )?
I found it very helpful as with the dynamic Heatmap you can see short-term imbalances and collisions into support/resistance, which helps me for short-term trading and finding good entry/stop points.

What are the underlyings you mostly trade?

Greetings

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  #5 (permalink)
Lonhro
Dublin
 
 
Posts: 7 since Oct 2020
Thanks: 3 given, 6 received

Hi Gamma,

I hope you've been enjoying the volatility recently. Bookmap is a nice orderflow tool and I have used it in the past. They also have a solid crypto package for $20/free. One of the perks with Crypto you get alot of tools for free or even cheaper in comparison to Legacy Futures.

I recommend checking out - TRADINGLITE (Can't post link)- They have a wonderful heatmap that is more chart based and have heatmaps on most exchanges.

Just be wary with Order flow on Crypto. All the order flow on Legacy Futures goes through one exchange (CME). While in Crypto as most assets are decentralized they're traded on many exchanges. So it's important to know where to look for Orderflow, so looking at the right sources is definitely key. I personally focus on Binance Spot/Futures orderflow as I trade on those exchanges. Just remember the Crypto indexes of the Perpertual futures contracts are made up of many exchanges (Deribits BTC contract is an example). So a whale in one of those exchanges can affect the price. Binance Futures is easier to read because it's based off their spot market. Deribit you might be better off watching Bitmex,Binance or Deribit itself. Experiment and you'll find one that suits. I think one of the complaints about Bitmex losing popularity due to the SEC case is that you could solely focus on the Bitmex book with that exchange. But it's a different ballgame now.

I'm not much of an automation guy yet. But the beauty with Crypto is that you can run your bots for free and with decent speed from what I've heard. Compared to Legacy Futures anyway.

Honestly, if you want Crypto on Multicharts/Tradestation just ask!! And get a few friends to ask as well. Sierra Charts just released Binance/Binance Futures data because we would keep posting in the forums there. It simply won't hurt you.

I trade a range of Altcoin contracts. I definitely have my favorites. I'm taking an equities approach to things (Have a few specific setups and apply them to many coins/set alerts etc). But when you get bigger you tend to have to focus on the larger coins due to liquidity/slippage (BTC,ETH,LINK). Alot of different styles (Forex,Futures,Equities) you can do in Crypto. There really isn't anything quite like it at the moment.

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  #6 (permalink)
Skatter
Perth Australia
 
 
Posts: 3 since Dec 2020
Thanks: 0 given, 0 received


Lonhro View Post
Hi Buddy,

I exclusively trade Cryptocurrencies for a living. I can recommend using the free version of Quantower that has a DOM and multiple connections to many most Crypto exchanges. It definitely has the most out of any platform so far. Trading Technologies has access to about 3, but QT has a free version. For solid charting, Tradingview charts most cryptocurrencies and has a free version.


In terms of exchanges, it depends on what you want to trade. If it's strictly Bitcoin or Ethereum futures, I can recommend Deribit. They also have the biggest options exchange in the space.But their Futures have good liquidity and they don't have regular outages unlike their main competitor Bitmex (Who is has been issued a notice by SEC). Just be aware on Deribit you have to use either BTC or ETH as collateral for the trade and also make you to trade the PERPETUAL futures and not the calendar futures. As the perps have the most liquidity.

If you want to trade altcoin futures or the actual real (SPOT) currencies. You will have to go through Binance Futures, who has the most volume and selection of Altcoin futures. Or Binance (SPOT) exchange which is the biggest spot exchange. You can also use the stablecoin Tether (USDT) that is pegged to trade these products on Binance/Binance Futures)

You can use Quantower to trade either exchange.

Feel free to shout out if you have more questions. I want the crypto forum to have more discussions.


I can vouch for Quant tower as im using it for cryptocurrency trading. Been using it a week and the learning steep is far less than Sierra
If you have a FTX account you get 100% access to all the bells and whistles. Trade from the Dom. P&F charts. It even is able to have sounds attached to your orders. When you hit a limit order or closed position i have "In the money" Though the lifetime subscription or ownership of $690 is totally worth it

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  #7 (permalink)
 GammaHammer 
Zurich
 
Experience: Master
Platform: TWS,TradeStation,LiveVol
Broker: IQFeed
Trading: Derivatives,FX
 
Posts: 2 since Nov 2013
Thanks: 1 given, 1 received

Hi Lonhro,

sorry for the late reply as somehow I am rarely on futures.io and didnt receive an email.

Yes regarding the Orderflow in Bookmap it is definetely different as one cannot rely completely what the exchanges post.
As such, I often take the CME BTC future as a proxy for intraday-levels.

As you for sure saw, quite often either on Friday or Monday CoinBase is trading lower and I heard from them that two institutionals who loaded up big size below 10k, are reducing their exposure.
What I do not understand is why they dont go through OTC desks and seem to just slam the market on one exchange.
Have a look into that, specially on Friday/Monday as this recently was very profitable to trade.

Regarding the Alts, I completely agree -- I built up a basket of different 'Bluechip Altcoins like ETH and XTZ' and mix them with theme related basket like DEFI (Avalanche, The Graph GRT, SNX) for example.

For Multicharts, I wrote to them but no answer yet. NinjaTrader is quite good for SOME exchanges like Deribit Perpetuals (not the options) and i like to use there a simple trendfollowing system which can easily be automated.

For Sierra, that is great:

https://www.sierrachart.com/SupportBoard.php?ThreadID=59090


@Skatter:
Thank you for the tip with FTX i Will try it out.
And yes, the lifetime subscription is really worth it.


Have a good weekend guys --- in Crypto somehow, as it trades 24/7, I oftentimes dont know if its weekday/weekend as recently the weekends with the vola were much more stressy

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  #8 (permalink)
 masterchanger 
Chicago, IL
 
Experience: Advanced
Platform: 3C,Multicharts
Broker: CQG, Binance.us, FTX.us
Trading: ES, currency futures,GC
 
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Posts: 18 since Aug 2011
Thanks: 32 given, 19 received

Multicharts supports Several Crypto datafeeds and has trading plug-in for Binance.com, not Binance.US

Now is the Time!
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