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Hi. You said in sierra vs mc thread
>If your interest is primarily backtesting, there are better options beyond MC and NT. If your interest is primarily in trading, charting and order execution, NinjaTrader is hard to beat. Good luck.
I'm interested to hear the better options and also if any of the better options offer chart based strat backtesting like ability in MC to watch the backtest as "playback" on a chart and easily visually study what happened and I'd like to use non-time based charts with multiple "resolutions" simultaneously on multiple instruments and instruments made out of other instruments without having to write a ton of code. And of course nice to have but optional would be to backtest a workspace open simultanously as a forward test of the same workspace to do trivial comparison of the backtest result vs paper trade and live results. This was pretty darn quick way to find out issues with MC.NET backtesting! I'd prefer not to waste a lot of time to find that something doesn't do the job. Currently I'm looking workarounds to MC's issues but am still open to trying more platforms as my trial is over in 2 weeks.
@manualtrader, or anyone currently using MC for discretionary trading. Has MC corrected any bugs in their manual trading/ATM strategies? Does it work as well as NT in this area now?
I'm new to this forum & have read up a lot about MC in this forum.
I have also downloaded NT7 a short while ago, and though I have some programming knowledge, I found coding complex strategy such as MTF (Multiple Time Frame) type to be quite a challenge.
I think MC8 could be what I need to have a faster learning curve, and would like to hear from anyone who can advice on whether I should go for NT or MC. (You can indicate if NT or MC is better for each of the requirement items listed below, and preferably list out why this is so).
So far, I think NT or MC are the 2 best choice. If you
1. I need to code my strategy in MTF (Multiple Time Frame), and backtest the strategy. I know a bit of programming but hope to learn it faster to code the strategy.
2. Besides backtesting historical data, I need to do walk foward testing.
3. I need the backtesting to be as accurate & realistic as possible like being able to drill down inside bar. (I read that MC is able to do this easily & NT is possible but requires complex coding? Is this still the same with NT?)
4. I am trading stocks currently & need to be able to backtest the strategy on a portfolio of equities. I understand MC is able to do this. Is NT7 able to do it too now?
5. The chosen platform must be able to receive data-feed (real & historical) from IB.
6. I need the chosen platform to be able to connect via my broker which is IB (Interactive Broker) for automatic execution of orders (strategy will scan a portfolio of equities, and execute orders automatically).
7. When it comes to discretionary trading via DOM & Chart Trader, has MC8 already provided this solution or is NT still the preferred choice?
8. I'm considering longer historical minutes data for backtesting which IB can't provide. If so, which data-feed provider should I look at so that I can use it for backtesting/strategy & also implement auto-trade via IB?
9. I need charts to be able to be dragged to multiple monitors.
10. I read that NT is excellent for DOM & chart trading but it tends to crash more often. Is this still the case with the latest NT7 64-bit?
11. Past forum said that MC chart trader or DOM is still not as polish as NT. Is this still the case with latest version MC8?
Hardware:
CPU: Core i7
OS: Windows Home Premium 64-bit
RAM: 8GB
I decided on MC8... mostly for ease of use.
let us know what you decide or if we can help further.
I have approximate answers, possible beliefs and different degrees of certainty of different things. But I'm not absolutely sure of anything and there are many things i don't know anything about.
Program,
Thank you for those references which I've read them.
Some of the treads have been posted quite a while ago.
I think MC is more appropriate for me as I want to have a good platform for doing backtesting/walk forward testing. I think MC seems to be ahead of NT in this aspect & it's easier to code the strategy/backtest in EL vs C#.
However, I read & understand that NT support seems to be better (MC has actually pull out support in this futures.io (formerly BMT) forum). In addition, NT7 seems to be better in DOM/Chart Trader as compared to MC (has MC8 improved on this?).
If I can feel comfortable with MC8 DOM/Chart Trader execution & its own website support is comparable to NT, then I will go for MC8 as I feel a more accurate backtesting is necessary. Please let me know what you think?
MC vs NT has been beaten to death on this forum so i'll keep it short...
If you want to write your own strategies/indicators and are not a programer then I would recommend MC over Ninja hands down.
I've also found MC to be far more stable and better for back testing. No problems for me with MC customer service, quite the contrary actually, they were more than helpful on a few occasions. I love futures.io (formerly BMT), so it really does suck that they pulled out (can't help but feel responsible sometimes ) but there still is a lot of support for MC/easylanguage here. In fact the generosity of some of the members is beyond tremendous.
Basically i realized that neither would make me a better or worse trader... so, the decision was which had a more suitable learning curve and which was more dependable and/or stable..??
but you can't really go wrong either way
-Mark
I have approximate answers, possible beliefs and different degrees of certainty of different things. But I'm not absolutely sure of anything and there are many things i don't know anything about.
) but there still is a lot of support for MC/
