Is a front end necessary for TWS and if so which is "best" ......... - IB Trader Workstation | futures io social day trading
futures io futures trading


Is a front end necessary for TWS and if so which is "best" .........
Updated: Views / Replies:8,121 / 12
Created: by Overview Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Is a front end necessary for TWS and if so which is "best" .........

  #1 (permalink)
Trading Apprentice
California
 
Futures Experience: Beginner
Platform: NT, MTP
Favorite Futures: Currencies
 
Posts: 40 since Dec 2010
Thanks: 14 given, 3 received

Is a front end necessary for TWS and if so which is "best" .........

Hi All
I wanted to ask some of the experienced users here about IB and TWS, as all I know is what I found when I tried the demo of TWS (ie a pretty much cut-down version).

1. Is TWS usable on its own without having a front-end package like Sierrachart or Multicharts or NT7 etc ? What are the drawbacks of just using it as a standalone ?

2. The list of indicators available on TWS is fairly short compared to some other platforms - Ichimoku is a particular one of interest to me - has anyone written one by any chance ?

3. If I want to try and pull an automated system together without writing code or script (eg indicator crossovers, price crossovers etc) using simple (if anything ever is simple) assisted query building, a bit like the strategy wizard/condition builder in NT7 but ideally even easier - what would be good choices for a front-end platform for both building and backtesting?

Thanks very much

Reply With Quote
 
  #2 (permalink)
Elite Member
San Jose, CA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: IB/IQFeed
Favorite Futures: Futures
 
Posts: 110 since Jan 2011
Thanks: 54 given, 89 received


Overview View Post

1. Is TWS usable on its own without having a front-end package like Sierrachart or Multicharts or NT7 etc ? What are the drawbacks of just using it as a standalone ?

2. The list of indicators available on TWS is fairly short compared to some other platforms - Ichimoku is a particular one of interest to me - has anyone written one by any chance ?

3. If I want to try and pull an automated system together without writing code or script (eg indicator crossovers, price crossovers etc) using simple (if anything ever is simple) assisted query building, a bit like the strategy wizard/condition builder in NT7 but ideally even easier - what would be good choices for a front-end platform for both building and backtesting?

Thanks very much

1. Sure. I think the main drawback is the charting is not as good. I've always used Sierra, so I haven't used TWS charting much, but it seems to have improved quite a bit. I used to just log in with IB Gateway, but now I am actually logging in to TWS because it does have some impressive capabilities that I find useful (news, fundamentals, options, spread trader, etc..).

3. Sierra spreadsheets are pretty easy for building and testing trading systems once you understand the basics of using the software. It's mainly just standard Excel formulas.

Reply With Quote
The following 3 users say Thank You to Jolew for this post:
 
  #3 (permalink)
Elite Member
North East
 
Futures Experience: Intermediate
Platform: Ninjatrader, Quotetracker
Favorite Futures: ES!
 
Posts: 10 since Jun 2009
Thanks: 1 given, 2 received


TWS is a garbage platform and it is pretty much implied that you need a 3rd party front end to manage everything, from order management to charting. Don't trade with TWS alone.

Reply With Quote
 
  #4 (permalink)
Trading Apprentice
Toledo, OH
 
Futures Experience: Advanced
Platform: NinjaTrader, proprietary API for TWS
Favorite Futures: NQ, YM, ES, FOREX
 
Posts: 41 since Nov 2012
Thanks: 16 given, 44 received

TWS and Excel

Hello,
There are many good frontends, Ninja being the most affordable.
If you are a discretionary trader, you could chart in Ninja for free and use the ActiveX excel Api to send orders to IB TWS.

Reply With Quote
 
  #5 (permalink)
Elite Member
Toronto Canada
 
Futures Experience: Intermediate
Platform: NT, SC
Favorite Futures: ES
 
Posts: 15 since Nov 2012
Thanks: 3 given, 1 received

For day-trading? Absolutely. I'm with IB now, and use NinjaTrader front end. Shopping around though, as it doesn't have the true tick charts I like.

Reply With Quote
 
  #6 (permalink)
Elite Member
Toronto Canada
 
Futures Experience: Intermediate
Platform: NT, SC
Favorite Futures: ES
 
Posts: 15 since Nov 2012
Thanks: 3 given, 1 received

I'm considering Sierra Charts. Maybe a trader who uses that product could share their experience?

Reply With Quote
 
  #7 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,355 given, 83,237 received


Veritasig View Post
I'm considering Sierra Charts. Maybe a trader who uses that product could share their experience?

IB works fine with Sierra. Use IB Gateway, not TWS. And never use IB for data, get a good data provider like IQFeed.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #8 (permalink)
Elite Member
Dartmouth NS
 
Futures Experience: Intermediate
Platform: MC, MC.Net, NT, TWS
Broker/Data: IB / IQFeed / Kids
Favorite Futures: Forex, stocks
 
bnichols's Avatar
 
Posts: 638 since Feb 2010
Thanks: 64 given, 459 received

I've used IB as a broker for years, lately TWS for manual (chart) trading in a pinch. It tends to be rock solid compared to 3rd party API platforms and constantly being improved; brokerage service & data good enough for what I do (these days mainly spot currencies).

As far as I know TWS won't incorporate custom Java libraries so short of hacking TWS the API route may be the only way to add additional functionality (like indicators, etc.). In that regard it's conceivable NT or MC.Net could be coerced into providing a graphical strategy builder to the extent they expose .Net features but that's a job for a developer.

As you likely know a web search for "trading strategy builder" or similar turns up a number of commercial point & click building block type strategy development platforms, as well as a few open source types that show some promise (e.g. apparently Java based trade-manager - Trade Manager automates technical trading of candle stick charts with an interface to Interactive Brokers Trader Workstation (IB TWS). - Google Project Hosting) and I believe there is (or was) at least one movement to write a custom platform on futures.io (formerly BMT). I've never been involved with any--platform the least of my worries as a trader --so can't recommend any.

If you have no luck finding a platform that meets all your requirements, including bullet-proof backtesting, in one package over the long haul perhaps if you align with a developer or development group you might be able to advise on the user interface. There are many talented developers on futures.io (formerly BMT) and there's always a next-gen NT wishlist thread.

Reply With Quote
 
  #9 (permalink)
Trading Apprentice
Minneapolis
 
Futures Experience: Advanced
Platform: tos, cqg
Favorite Futures: many
 
Posts: 5 since Mar 2012
Thanks: 0 given, 0 received

When I was with IB, I had IB+Ninjatrader. TWS is one of the worst platforms out there. I don't recommend it at all. It really is sad that one of the best brokers out there doesn't have a decent front end. IB should buy out multichart, ninjatrader or someone as a technology acquisition, just like TD bought out TOS.

Reply With Quote
 
  #10 (permalink)
Trading Apprentice
hong kong
 
Futures Experience: Master
Platform: IB
Favorite Futures: currency and options
 
Posts: 8 since Dec 2012
Thanks: 0 given, 8 received



WSMJH View Post
When I was with IB, I had IB+Ninjatrader. TWS is one of the worst platforms out there. I don't recommend it at all. It really is sad that one of the best brokers out there doesn't have a decent front end. IB should buy out multichart, ninjatrader or someone as a technology acquisition, just like TD bought out TOS.

I for one think the platform has come a long way and is highly configurable which suits my needs. Take some time, play around with the paper trader and figure out what works best. I've got my columns, hot keys and defaults set to my liking and find it really good for trading multiple asset classes.

Reply With Quote

Reply



futures io > > > > Is a front end necessary for TWS and if so which is "best" .........

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
"mid", "buy", "sell" volumes lokgotkent Traders Hideout 6 September 30th, 2011 02:24 PM
Is this the end of youtube and hulu? "as we know it GridKing News and Current Events 0 August 18th, 2011 03:23 AM
dealing with GetCurrentBidVolume and GetCurrentAskVolume , "long" casting into "int" jmejedi NinjaTrader Programming 4 May 23rd, 2011 10:33 AM
RJay's "Trader Volume" and "Trader Tick" Indicator Suites RJay The Elite Circle 20 December 20th, 2010 06:01 PM
"time"stop" codes for MC ptcm EasyLanguage Programming 1 September 2nd, 2010 01:57 AM


All times are GMT -4. The time now is 07:48 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-17 in 0.15 seconds with 19 queries on phoenix via your IP 54.163.209.109