Broker for order execution using MC auto+manual trading - futures io
futures io futures trading



Broker for order execution using MC auto+manual trading


Discussion in MultiCharts

Updated by heywally
      Top Posters
    1. looks_one SPTrading with 8 posts (1 thanks)
    2. looks_two heywally with 3 posts (1 thanks)
    3. looks_3 MultiCharts with 3 posts (4 thanks)
    4. looks_4 horton with 2 posts (1 thanks)
      Best Posters
    1. looks_one Big Mike with 2.0 thanks per post
    2. looks_two MultiCharts with 1.3 thanks per post
    3. looks_3 ejtrader with 1.0 thanks per post
    4. looks_4 SPTrading with 0.1 thanks per post
    1. trending_up 5,561 views
    2. thumb_up 11 thanks given
    3. group 5 followers
    1. forum 18 replies
    2. attach_file 1 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

 
Search this Thread
 

Broker for order execution using MC auto+manual trading

(login for full post details)
  #1 (permalink)
London, England
 
Experience: Intermediate
Platform: MC, TS, NT
Broker: TradeStation
Trading: ES
 
Posts: 41 since Oct 2009
Thanks: 12 given, 20 received

Please could I have some recommendation for a broker for trading ES futures via Multicharts?

**** But, I am not concerned about the data feed ****

"Only" all the other issues, like:

- commission rates
- quality of service
- works well with Multicharts
- are OCO orders held on your PC or on a server
- a good DOM

In terms of Multicharts I am not planning on using the MC DOM until it is more proven, so there has to be a recommended DOM either provided by the broker or available separately.

I want to be able to have MC submit the orders automatically from a strategy and then I need to be able to manually manage the trade depending on circumstances.

Thank you

Paul

Reply With Quote

Can you help answer these questions
from other members on futures io?
How to place NT8 indicator output into a grid, under each bar?
NinjaTrader
OPEN_CLOSE_DOTS
ThinkOrSwim
Where is the link to download GomiRecorder?
NinjaTrader
Horizontal Line Indicator
Platforms and Indicators
GBP/ARS Pair
Traders Hideout
 
 
(login for full post details)
  #2 (permalink)
Portland, OR
 
Experience: Intermediate
Platform: Sierra Chart
Trading: ES
 
Posts: 269 since Jan 2011
Thanks: 327 given, 180 received

From my personal experience - Optimus Futures would be the way to go.

Suggest doing your own home work about Optimus - in case if you would like to consider this route though.




SPTrading View Post
Please could I have some recommendation for a broker for trading ES futures via Multicharts?

**** But, I am not concerned about the data feed ****

"Only" all the other issues, like:

- commission rates
- quality of service
- works well with Multicharts
- are OCO orders held on your PC or on a server
- a good DOM

In terms of Multicharts I am not planning on using the MC DOM until it is more proven, so there has to be a recommended DOM either provided by the broker or available separately.

I want to be able to have MC submit the orders automatically from a strategy and then I need to be able to manually manage the trade depending on circumstances.

Thank you

Paul


Reply With Quote
 
(login for full post details)
  #3 (permalink)
London, England
 
Experience: Intermediate
Platform: MC, TS, NT
Broker: TradeStation
Trading: ES
 
Posts: 41 since Oct 2009
Thanks: 12 given, 20 received


Dear ejtrader,

Thanks for the suggestion, had not thought about Optimus. So many brokers to consider, but it's hard to get a feel for the practical issues.

Can you effectively manage trades that have been submitted via auto-trading in MC and if so, can that be with any of the compatible order-execution platforms? (In other words, will they monitor the account for trades placed into the account by other sources?)

Thanks again,

Paul

Reply With Quote
 
(login for full post details)
  #4 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,044 since Jun 2009
Thanks: 31,653 given, 94,911 received

The broker will use an execution system that is based on Zen Fire, Rithmic, TradingTechnologies, etc etc etc.

For example, if you select Optimus then they use Rithmic for the backend. This means you can use any platform that is compatible with Rithmic. MultiCharts is compatible with Rithmic.

If you select Velocity Futures for example, they use TradingTechnologies for their backend. This means you can use any platform that is compatible with TTFIX. MultiCharts is compatible with TTFIX.

As for server side native OCO, you won't find it with MultiCharts and Zen Fire, Rithmic, or TT combination. I believe that if you use R-Trader via Rithmic (you could still use MultiCharts for charting), then maybe the OCO's are native at that point (sorry, I can't say for certain). I also believe that if you use X_Trader with Velocity Futures for instance, and still use MultiCharts for charting, then the OCO's are once again server side/native.

Best bet on selecting a broker is to find one that you like. Optimus, Velocity, and others are good choices for different reasons for different people. Email them, call them, judge their website, their commissions, their margins, and see how you interact with them. Read reviews, plenty are posted here on futures.io (formerly BMT).

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #5 (permalink)
Portland, OR
 
Experience: Intermediate
Platform: Sierra Chart
Trading: ES
 
Posts: 269 since Jan 2011
Thanks: 327 given, 180 received

SPTrading - As Mike described - You can see the orders from MC in r-trader(free) or NinjaTrader (if you already own) or Even in MC itself - you should be able to see them in DOM. How practically you can manage the automated systems with manual intervention is up to you.

Having said that - with MC7 Beta 4 - with newly introduced keywords - it gives lot of flexibility to combine automated+manual orders:

More info here from MC site:

--------------------
https://www.multicharts.com/traders-blog/?p=292

A new signal was added to the standard signal set – “!From Broker To Strategy MP Synchronizer!”. This signal allows the user to synchronize an automatic strategy with the position at the broker – effectively allowing placing manual trades and then applying a strategy to take care of the exits. More info here – MultiCharts: Trading Software for Automated Trading and Backtesting • View topic - exit strategy with manual trading.

And this gives lot of flexibility to combine Manual+automated trading.
-------------------

Good luck with your quest!!

Thanks


SPTrading View Post
Can you effectively manage trades that have been submitted via auto-trading in MC and if so, can that be with any of the compatible order-execution platforms? (In other words, will they monitor the account for trades placed into the account by other sources?)

Thanks again,

Paul


Reply With Quote
The following 2 users say Thank You to ejtrader for this post:
 
(login for full post details)
  #6 (permalink)
London, England
 
Experience: Intermediate
Platform: MC, TS, NT
Broker: TradeStation
Trading: ES
 
Posts: 41 since Oct 2009
Thanks: 12 given, 20 received

Well, after reading and re-reading all the futures.io (formerly BMT) threads, I am ready to go with Velocity and Trading Technologies (TT).

My logic: I am using TradeStation as the data feed, so it doesn't matter that TT data is filtered, I am not using it. I presume the DOM would be fed by TT, and so it could be better that my PC doesn't have to handle 2 tick-level feeds at once. I thought about using Rithmic - to have a backup data feed, but then, in nearly 3 years I have never had a data feed problem.

I will use the DOM in Multicharts and forego server side OCO, it is not too much of a loss for me as most positions are strategy managed and that's not server side anyway.

I don't read anything negative about TT for order execution, I understand there were some MC issues with it but they were resolved. So, I may as well go for $3.62 RT for ES.

Thanks again - ejttader and Mike.

Reply With Quote
 
(login for full post details)
  #7 (permalink)
Germantown, TN, USA
 
Experience: Intermediate
Platform: Esignal, Multicharts, MarketDelta, Stockfinder
Trading: Violin
 
horton's Avatar
 
Posts: 29 since Sep 2010
Thanks: 0 given, 8 received

I believe IB is server side OCO. Booktrader is full featured DOM for manual entry and exit. No auto exit strategies that I can find.

Reply With Quote
 
(login for full post details)
  #8 (permalink)
London, England
 
Experience: Intermediate
Platform: MC, TS, NT
Broker: TradeStation
Trading: ES
 
Posts: 41 since Oct 2009
Thanks: 12 given, 20 received

horton,

From the IB website I mainly see references to stock trading, do you know if they have a good platform for trading futures? At the moment I am still using TradeStation, at least it has server side OCO, although sometimes when the market moves very quickly it doesn't send the stop order, which is pretty bad really.

Reply With Quote
 
(login for full post details)
  #9 (permalink)
Germantown, TN, USA
 
Experience: Intermediate
Platform: Esignal, Multicharts, MarketDelta, Stockfinder
Trading: Violin
 
horton's Avatar
 
Posts: 29 since Sep 2010
Thanks: 0 given, 8 received

IB has a universal account in which you can trade equities, options, futures, currencies, bonds, etc. They are high tech and low touch for the retail trader and small institution. Most if not all of the retail trading platforms integrate with IB. I have seen a few complaints about their currency trading setup. If you trade currency futures you need to verify they have the right setup for your needs.

My impression from various threads is that Multicharts with IB and IQFeed/Esignal is the closest match to Tradestation that you will find. But I have not used Tradestation...

Reply With Quote
The following user says Thank You to horton for this post:
 
(login for full post details)
  #10 (permalink)
Columbus, Ohio, US
 
Experience: Intermediate
Platform: MultiCharts
Broker: Multiple/Multiple
Trading: ES, EUR/USD
 
MultiCharts's Avatar
 
Posts: 168 since Oct 2010
Thanks: 74 given, 171 received


From this chart you can see that IB supports server side OCO - Supported Brokers

MultiCharts - Raising the Trading Standard.
Please send me a private message if you have any further questions about MultiCharts
Follow me on Twitter Visit my Facebook Reply With Quote
The following 2 users say Thank You to MultiCharts for this post:


futures io Trading Community Platforms and Indicators MultiCharts > Broker for order execution using MC auto+manual trading


July 9, 2011


Upcoming Webinars and Events
 

Live Video Panel: Ask Me Anything w/Ironbeam Brokerage

Aug 6
     



Copyright © 2020 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