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.
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...
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.
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.
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Last edited by Big Mike; December 4th, 2011 at 11:56 AM.
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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.
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.
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.
The following user says Thank You to timefreedom for this post:
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.