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Fairly painless Multicharts setup?


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Fairly painless Multicharts setup?

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  #1 (permalink)
Sunnyvale, CA
 
 
Posts: 171 since Dec 2012
Thanks: 8 given, 105 received

I'd like to find a platform where I can automate my trading strategy based on second-by-second price data. Etrade doesn't offer it. Tradestation only has one-minute bars.

It seems Multicharts is the only way to go? True/False?

I've been looking at Multicharts, it seems like it's a rather involved process to get it going: you have to subscribe to a data feed; you have to subscribe to a broker; you have to subscribe to Multicharts .... I started looking into data feeds and this single step doesn't seem straightforward - the couple I looked at talked about a lot of thing but I had trouble finding the offering of a simple "data feed" service.

Is there some fairly straightforward process that I'm missing? Can someone maybe recommend a "painless" set of vendors/products and steps that will get me up and running? I'd rather reserve the brainpower for coding and testing the trading method instead of this stuff...

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  #2 (permalink)
Hamburg Germany
 
Experience: Advanced
Platform: Multicharts, Tradestation
Broker: DTN IQ
Trading: ES
 
Posts: 2,192 since Apr 2013
Thanks: 385 given, 1,427 received

mwtzzz,

Tradestation has 1 second bars (and other platforms, too), so Multicharts would not be your only option.

When it comes to a data provider and broker you will have to make your own research here to find the best combination for you. IQFeed offers a very good datafeed and Interactive Brokers might be the broker that is best integrated into Multicharts.

Regards,

ABCTG

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  #3 (permalink)
London
 
Experience: None
Platform: .
Trading: .
 
Posts: 255 since Apr 2011
Thanks: 65 given, 180 received


You may want to look into Sierra Chart as well, they have their own data feed which as far as I know is very reliable and SC is all based on C++ the ideal language if you are looking to ultra/super fast trading strategies, apart from that SC is know for being a very stable platform and offer a lot of customizable functionalities and features. And you do not need to know C++ for coding studies and strategies because there is minimal use of C++ and only the very elemental basics of C++, so if you already know how to code trading strategies on one platform you most likely to be fine.

I use TS for many years and I think it is good but there a lot of problems with and at this days they are sort of lagging behind others platforms. MC is slightly better is my opinion because it offers more features than TS but it is not perfect either, I own MC and I do experience some problems with it; And for certain things TS is better than MC, and for others things MC is better than TS IMO.

I use mainly TS and MC here as of today but if I was starting out today by knowing what I know now I would pick SC as my main platform.

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  #4 (permalink)
Sunnyvale, CA
 
 
Posts: 171 since Dec 2012
Thanks: 8 given, 105 received

Thanks for the info, it's good to know.

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  #5 (permalink)
Corpus Christi TX USA
 
 
Posts: 4 since Nov 2012
Thanks: 32 given, 2 received

Does Multicharts work well with the Jigsaw plugins? I have a lifetime license for MC but never used it due to difficulties with getting a data feed to work with it. Would a brokerage provided data feed work OK with Multicharts? Really wanting to buckle don and get into learning to read, interpret correctly, and use order flow.

Thanks for any ideas here.

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  #6 (permalink)
Hamburg Germany
 
Experience: Advanced
Platform: Multicharts, Tradestation
Broker: DTN IQ
Trading: ES
 
Posts: 2,192 since Apr 2013
Thanks: 385 given, 1,427 received

commtrd,

you might want to post your Jigsaw specific question in here or ask @DionysusToast directly.
Multicharts works well with broker datafeeds in my opinion, but there might be some limitations by the datafeeds (for example how far you can backfill historical data) and therefore it can make sense to use a separate data provider, too.

Regards,

ABCTG

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