I was wondering if anyone was hybrid trading using a combination of Multicharts and NT7. My intention is to use Multicharts for strategy execution and auto trade management and to intervene via NT7 if I feel the need to manage the trade. I am using a Mirus account and that provides for two platforms to be connected at once.
I would also be interested in alternatives that are working well and/or any pro's or cons relating to my proposal.
I have a hybrid set up but it's on two different accounts.
I use NT7 with my MBT account for charting and Oanda for order entry.
I previously wanted to use Multicharts for charting and MBT desktop pro for order entry but MBT won't allow the same account logged in twice so no go.
I've tried using Multicharts by itself but there is too much lag for scalping, which is how I trade. And with NT there is less lag than MC but I've had various other problems with them. So now I just stick to NT for charting and Oanda for entry.
It's probably not something that matters if you don't scalp for a few pips, but it's a big deal if you do.
In MC when you enter your order it sometimes takes up to couple seconds for to actually enter. This happens consistently in all kinds of market conditions. And if you enter, close, enter again very quickly you might be sitting there for around 5-10 seconds before the last order gets through.
In NT you can do the above with very little lag. I just attribute the lag to NT being an extra layer over the brokers so to be expected. But in NT it's very small compared to MC.
Yes it will be fine, you just need two concurrent logins permitted from your broker, which is free and no big deal.
I used this combination for a while, before switching to MC+X_Trader, and then ultimately MC+SC. I may eliminate SC once the MC dom is improved and trade analytics are added.
BTW, I've never seen a delay in MC as described, and I primarily scalp. Have been using MC since v5.5. MC has a toolbar that shows if any data is delayed, and it never is on my side. Quad core CPU. MC uses less resources than NT. SC uses less than both.
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