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Options Trading Platforms
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Options Trading Platforms

  #11 (permalink)
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TonyB View Post
Cory, ToS does seem to do options quite well. Do you happen to have experience with options in SC or MC, for comparison?

first MC doesn't do options, neither does NT7... if what you are talking about is charting, then anything with the OPRA feed can chart an option... from amibroker to NT7/MC to excel...

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  #12 (permalink)
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@TonyB... You are actually posting on the wrong thread for the subject you want to cover ... this is thread is not about trading platforms but rather about DeepDiscountTrading as a broker..

you should look at the search function and find an appropriate thread to discuss what you are looking for or start a new one. I had started a discussion a while back to look at options trading platforms... that might serve you as a starting point.

https://futures.io/options-cfd-trading/6421-options-trading-platforms.html



TonyB View Post
I'm very glad I joined this forum. You all are most kind to help and offer you input. I'm trying to make a well-informed decision, actually decisions, and this info has been invaluable. We all know about the time commitment involved here. I wish to pay it upfront as much as possible so once I decide upon a course of action, there will be less likelihood of regret down-the-road...

Maybe me wanting to have a platform do it "all" is not realistic. Maybe we wanting a broker to do the same is similarly not a stance for which I should be adamant. But, for me, they seem to exist in that MC does options, as well as stock, futures and FOREX. How well options is handled by MC, I have no idea. I would like to see how it compares to ToS, but even if it's adequate, I'd probably be satisfied. From the broker side, MBT is not quite as cheap as DDT, but at $1.81 rt (total price) for futures, it compares pretty darn good against DDT at $1.66. MBT does stock, options and FOREX too though; and is supports MC. I don't envision myself trading stocks, options and futures the same day. Maybe not even the same week. Heck, I might just trade futures on certain days that merit a strat or approach I could have. Hard to say until I learn more about futures... I will most likely only trade stocks and options when alerts are triggered. Would be nice to have the flexibility to do this all from within the same platform, as opposed to having two or more apps open and keeping my knowledge on each sharp. I would ideally like to immerse myself into one, its language and all of its facets. Maybe I'm wrong to think this way, or to think MC is that solution. Since I envision options being a continued emphasis for me going-forward, even if I truly can do well trading futures (my few paper trades with ES were not exactly positive), I need to get the low down on what MC offers options traders...

This is an SC thread though. I wish not to exclude it just yet. Compared to MC, where or how is it better? If I read correctly, maybe faster. I can deal with the lack aesthics and a clunky feel. No big deal. What can it do that MC cannot, or not as well?


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  #13 (permalink)
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It's not @TonyB's fault, I have to move some thread for the SC thread to this one.


sysot1t View Post
@TonyB... You are actually posting on the wrong thread for the subject you want to cover ... this is thread is not about trading platforms but rather about DeepDiscountTrading as a broker..

you should look at the search function and find an appropriate thread to discuss what you are looking for or start a new one. I had started a discussion a while back to look at options trading platforms... that might serve you as a starting point.

https://futures.io/options-cfd-trading/6421-options-trading-platforms.html

If MC means MultiCharts, I think you're wrong, you can trade options with MC.


sysot1t View Post
first MC doesn't do options, neither does NT7... if what you are talking about is charting, then anything with the OPRA feed can chart an option... from amibroker to NT7/MC to excel...


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Last edited by sam028; March 28th, 2011 at 01:54 PM.
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  #14 (permalink)
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StrategyBuilder from SamoaSky

I have been messing around with OptionsOracle for some time now, they recently came up with strategy builder, which is a good way to do paper trades. Some might find it of use as I have, specially since it is free..

Strategy Builder|SamoaSky

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  #15 (permalink)
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Locust (looks like you use MC) or others, how adept is MultiCharts with respect to options?

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  #16 (permalink)
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TonyB View Post
Reviving a somewhat dated discussion...

Locust (looks like you use MC) or others, how adept is MultiCharts with respect to options?

Please note that Multicharts does not scan, evaluate, manage or even analyze options. Multicharts and Ninjatrader are charting and trading packages for active investors, but they wont do options per say. They do not perform any options analysis at all, and their ability to trade options is very limitted in nature. All that you can do with MC/NT7 is chart an option and any charting package with access to the OPRA feed can do that.

I would suggest you first determine what is it that you want your option package to do, what are you after that you want it to do for you?

As many others stated on the thread, I came to realize something they had already: Excel is the best tool for options trading. It can do the analysis and if the broker has an API, it will trade for you and track your positions as well. Using excel forces you to understand what you are doing and the reasons for which you are doing it.

The other alternative that I am IMO would be the samoasky tools, and also optionnet explorer. ONExplorer is not yet public, I stay in touch with the developer and it is said it will become public sometime this year, but I would not hold my breadth.

Outside of tools you can run on your desktop, there are web based options. I would look at tradeMONSTER and OptionsHouse, they have excellent tools similar or better than TOS. I have noticed the last few releases of TOS to be rather unstable, so not all that happy with them right now.

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  #17 (permalink)
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sam028 View Post
If MC means MultiCharts, you're wrong, you can trade options with MC.

I am a firm believer on the "show me" line of thought when it comes to someone stating that I am incorrect... so please provide documentation or screen captures of MC trading options... but before you do that, please define what "trading options" within MC means... I want to make sure that we are on the same page.

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  #18 (permalink)
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sysot1t View Post
Please note that Multicharts does not scan, evaluate, manage or even analyze options. Multicharts and Ninjatrader are charting and trading packages for active investors, but they wont do options per say. They do not perform any options analysis at all, and their ability to trade options is very limitted in nature. All that you can do with MC/NT7 is chart an option and any charting package with access to the OPRA feed can do that.

I would suggest you first determine what is it that you want your option package to do, what are you after that you want it to do for you?

As many others stated on the thread, I came to realize something they had already: Excel is the best tool for options trading. It can do the analysis and if the broker has an API, it will trade for you and track your positions as well. Using excel forces you to understand what you are doing and the reasons for which you are doing it.

The other alternative that I am IMO would be the samoasky tools, and also optionnet explorer. ONExplorer is not yet public, I stay in touch with the developer and it is said it will become public sometime this year, but I would not hold my breadth.

Outside of tools you can run on your desktop, there are web based options. I would look at tradeMONSTER and OptionsHouse, they have excellent tools similar or better than TOS. I have noticed the last few releases of TOS to be rather unstable, so not all that happy with them right now.

Thanks for the quick reply sysot1t.

Given that some thought MC did not do options, I'm not surprised by your response. Ideally, I'd like something to provide analysis and ability to easily enter complex orders.

The Excel / broker API sounds interesting and quite helpful for keeping us engaged and with a sense of appreciation for the dynamics involved. I do like that. I believe the broker MBT has such an API, but I'll check. I'm "shopping" for a broker/s now...

EDIT / ADD: I failed to mention that I just inquired with MC about their option offerings and / or documentation that pertains to option capabilities.


Last edited by TonyB; March 28th, 2011 at 01:10 PM. Reason: additional info provided...
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  #19 (permalink)
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TonyB View Post
Given that some thought MC did not do options, I'm not surprised by your response. Ideally, I'd like something to provide analysis and ability to easily enter complex orders.

MC doesnt do options, period. I am more than willing to stand corrected if someone can show me otherwise. MC charts, and as I said... anything that enables to create graphics from a data stream can chart. You can create scanners with MC, and build a custom indicator to calculate the greeks, but that does not mean it does options as it will not find opportunities for you to execute strategies..

so MC does not do options...

if anyone else believes to the contrary, please provide documentation so that I can educate myself and change my stand... I am more than glad to increase my knowledge base..

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  #20 (permalink)
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Moderator Note
Some posts have been move from SC thread to DDT thread, and now from DDT thread to this one.
Not easy to clean...



@sysot1t, about MC and options, we have a definition problem.

You can buy and sell options with MC:
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If you the word "do", like in "do options", means something different than buy and sell, like trading a spread directly, or sending a stop order to buy at an IV level and not at a specific price, you're right, MC doesn't "do" that

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