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NinjaTrader or Multicharts
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NinjaTrader or Multicharts

  #51 (permalink)
Elite Member
Indianapolis, IN USA
 
Futures Experience: Advanced
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billr View Post
Could you elaborate on the better options? Backtesting is not my primary interest, but finding a good platform for that would be good.

To re-state my point. I would like to know why backtesting isn't approached the same way as market replay. I can certainly imagine why a programmer/software developer would prefer doing it in a way that takes advantage of program efficiencies. (I assume that's what's happening) But from a trader point of view, why would you subject your strategy development to a model that is anything less accurate than market replay? (I acknowledge that broadstroke analysis or larger time frame trading is less sensitive to this distinction, but still, if it can be done with more accuracy, it should be.)

In my discussions with MC, I got the impression that their backtesting does in fact calculate as a market replay. But reading this thread indicates I may be wrong about that.

Thanks.

Hi Bill,
First, my disclaimer: I have personally never been involved or interested in back-testing. That said, you are somewhat in luck because I know that @Big Mike, as well as some other frequent posters do (or did) back test their trading ideas on a regular basis. I'd highly recommend getting their input before investing in any back-testing application, rather than taking a suggestion from me - someone who could care less about back testing results from any approach. (Markets are dynamic, they change, what worked yesterday is not important to me.) And with that disclaimer, here is one suggestion that you might wish to pursue: Trading Blox . I will also recommend ThinkorSwim. It is one of the platforms that I use, and recommend. Although I do not utilize their backtesting features, they certainly provide a nice set - especially if you have any interest in back-testing your ideas on derivatives. Good luck.

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  #52 (permalink)
Elite Member
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Bookworm's Avatar
 
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MultiCharts View Post
MultiCharts DT is a free quality product that a team of 40 people spent 6 years creating - all we ask for giving it away is that you tell others about it. If you don't like it, or the Facebook requirement - nobody is forcing you to use the product.

That is the kind of attitude that eliminates any chance of my becoming a paying customer.

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  #53 (permalink)
Elite Member
Naperville IL
 
Futures Experience: Intermediate
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yes



Bookworm View Post
That is the kind of attitude that eliminates any chance of my becoming a paying customer.

as a vendor, multichart's attitude is rude. I will keep using ninjatrader

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  #54 (permalink)
Scarecrow
CA USA
 
Futures Experience: Intermediate
Platform: MultiCharts
Broker/Data: DDT+land/Rithmic/IQ
Favorite Futures: S&P500,6E,YM
 
program's Avatar
 
Posts: 100 since Nov 2010
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whats more important, the software or the people behind it???

I am new to trading and I'm deciding which to use as well.
i have absolutely no coding ability yet, so it seems to me that MC would be the easy winner because of PL. I have used MCDT and NT, however I've used NT much more frequently because of there support here on futures.io (formerly BMT). futures.io (formerly BMT) is awesome, and people here are the real ones behind the product IMHO. I think most software companies would do well to remember that...

Side Note: I personally dislike facebook. Being required to hit the "like" button leaves a bit of a bad taste in my mouth. But that's there business prerogative. If it works for them...

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  #55 (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
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I feel compelled to say that one of the main reasons I switched from NT 6.5 to MultiCharts a couple years ago was because of the developers (on both sides). The MC developers really impressed me, and the NT developers really disappointed me.

While I don't agree with some of @MultiCharts recent posts or some of their recent decisions (Facebook requirement), I do still think they have a superior development process and more stable and efficient product. I base this on my own direct experience of using NT for 2 years, then MC for 2 years.

I also really appreciate their Project Management site (a request I made to Dennis, and they ended up implementing), as I like the idea of knowing in an organized matter if others are experiencing problems that I may experience, and what the upcoming features will likely look like (as people vote them up/down).

It seems to me that the MCDT product was a lot more work than MultiCharts had anticipated initially, and they are quite defensive about "their baby" which is somewhat understandable.

In the end, now that MultiCharts has discretionary trading, what it means is more competition in the platform world. More competition against NinjaTrader, more against TradeStation, more against everyone else. And that is better for the trader, much much better.

So to answer the original question "NinjaTrader or MultiCharts", well like trading their are no black and white answers. Just lots of gray. It all depends on your exact needs and what kind of trader you are. Best to download a trial of each and make your own decisions.

Mike

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Last edited by Big Mike; December 4th, 2011 at 12:56 PM.
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  #56 (permalink)
Trading Apprentice
New York, NY
 
Futures Experience: Intermediate
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Talk about hypersensitivity - geez. What are you guys reading into MC's comments that I'm not seeing?

Paraphrase: "developed a good product, gave away a free version, if you don't wanna use it, don't use it"

What's wrong with that? What would you have said differently if you were in their shoes?

Keep in mind, they originally came on here to ASK your opinion on what they could do to improve the product and meet traders' needs better than their competition.

How is that bad attitude? That's something I personally appreciate. (& I don't recall ever seeing NT do that . . ).


Last edited by ddouglas; December 4th, 2011 at 12:38 AM.
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  #57 (permalink)
Elite Member
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Bookworm's Avatar
 
Posts: 157 since Apr 2010
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By now if someone has not joined Facebook then they have a pretty good reason for it, like not wanting to open their life to a company that just had to settle with the government for violating the privacy of their users. Demanding that someone now join to use their product seems rude to me. If MCDT has become a burden then just say so and charge a fair price for it but don't make it a requirement to have to do something that is obviously repellant to many people.

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  #58 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
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Quoting 
MultiCharts DT is a free quality product that a team of 40 people spent 6 years creating - all we ask for giving it away is that you tell others about it. If you don't like it, or the Facebook requirement - nobody is forcing you to use the product.

Not sure i understand the marketing strategy. Let suppose i am not a Facebook member and would like to download the free version of MC. I would need to create an account on Facebook but since i am a new member i have obviously no friend so how that would help Multichart to spread the words about their product. If the registration process forces me to add at least one friend then i could add a fake friend and still that would not help Multichart become known. Now, let's suppose i am already a registered Facebook member but no one of my friends are traders in what way this would help Mutlichart in terms of visibility.

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  #59 (permalink)
Elite Member
Indianapolis, IN USA
 
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ddouglas View Post
Talk about hypersensitivity - geez. What are you guys reading into MC's comments that I'm not seeing?

Paraphrase: "developed a good product, gave away a free version, if you don't wanna use it, don't use it"

What's wrong with that? What would you have said differently if you were in their shoes?

Keep in mind, they originally came on here to ASK your opinion on what they could do to improve the product and meet traders' needs better than their competition.

How is that bad attitude? That's something I personally appreciate. (& I don't recall ever seeing NT do that . . ).

They came on here to drum up business. Unfortunately for them, NinjaTrader has a better product, more market share, bigger customer base, better customer relations, much better development environment, etc.

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  #60 (permalink)
Trading for Fun
Montreal
 
Futures Experience: Master
Platform: Ninjatrader 7
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trendisyourfriend View Post
Not sure i understand the marketing strategy. Let suppose i am not a Facebook member and would like to download the free version of MC. I would need to create an account on Facebook but since i am a new member i have obviously no friend so how that would help Multichart to spread the words about their product. If the registration process forces me to add at least one friend then i could add a fake friend and still that would not help Multichart become known. Now, let's suppose i am already a registered Facebook member but no one of my friends are traders in what way this would help Mutlichart in terms of visibility.

Well said, when I decided to look for new software to daytrade about 4 years ago, Ninjatrader was the best option available to me and it was free as long as I was not trading from the charts or the Superdom. I was able to use all the trading skills I had from that platform as it had almost everything I ever dreamed of, then I went to the next level and rewarded them by buying a lifetime license as everything I need for daytrading has been developped for that software so luckily for me I don't have to look at anything else.

Also people might find it weird but I have no Facebook account and don't expect in the near future to get one, I also don't have a smartphone just plain old cell that I use occasionnaly as I don't need more then that. Of course I have a PC with 5 monitors for my trading and another one with 2 monitors for back up.

So which software is best, I would say the one that seems to gives you the best options for your trading, again this all depends on what you are looking for or think you might need to become a succesfull trader and this part is the one that is less obvious when you are in the learning process.

P.S. I am just glad this is all behind me now.

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