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Automated Trading Platforms
Started:July 18th, 2012 (09:25 AM) by trendtrader00 Views / Replies:2,361 / 14
Last Reply:July 25th, 2012 (03:05 PM) Attachments:0

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Automated Trading Platforms

Old July 19th, 2012, 04:33 AM   #11 (permalink)
Elite Member
Berlin, Europe
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
Fat Tails's Avatar
Posts: 9,525 since Mar 2010
Thanks: 4,213 given, 24,794 received

trendtrader00 View Post
So if price were no object to you, which one of those platforms do you reccomend? And for someone with limited programming skills what would be best?

I have mentioned the platforms, because I know that they can be used for automated trading. The platforms are retail platforms. If you don't trade like mad - posting as a high frequency trader killing himself with 2-Renko charts - then they should fit the purpose.

I cannot really recommend any one platform over another, as I have mostly used NinjaTrader so far. I would certainly consider Tradestation (inconvenient here is that you are not free to select your broker and datafeed) and MultiCharts as viable alternatives. MetaTrader can be used , if you have a FOREX account.

With limited language programming skills, your first task would be to push the limits. I do not think that you can run any strategies in Lego fashion by putting a few building bricks together. Easy Language is certainly easier to learn than the MQ4 MetaTrader Script or NinjaScript. However, it has more limitations than the complex languages.

MultiCharts now offers a .NET version, which relies on C# instead of Easy Language, but it is certainly not easy to operate.

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Old July 19th, 2012, 04:56 AM   #12 (permalink)
Elite Member
Athens - Greece
Futures Experience: Intermediate
Platform: Metastock
Posts: 75 since Jul 2010
Thanks: 202 given, 32 received

Connecting .... to .... Automated Trading Platforms

Hello ... to Every Body .....
I need your experience and knowledge .... How to connect Metastock and Which platform gives this possibility ....
That means .... Signals from Metastock to ... be executed through a Platform with a strategy (...?).
I really thank you in advance for this help full reply and info .......
Best Regards

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Old July 19th, 2012, 05:20 AM   #13 (permalink)
NSW Australia
Futures Experience: Advanced
Platform: MT4/MT5/ Multicharts/Ninja Trader
Broker/Data: gain
Favorite Futures: forex
waza1960's Avatar
Posts: 33 since May 2010
Thanks: 38 given, 38 received

1st choice MT4 then Multicharts

If you were trading FX then MT4 would be my recommendation way ahead of everything else for the following reasons:
/ It is a very reliable platform for automated strategies particularly regarding Trade execution. I have had done thousands of live trades on MT4 often running up to 10 Strategies on a single platform and have not had one issue or error message. When I was Autotrading with NT it is a common occurrance to get errors messages and execution
hiccups . I cannot overstate the need for a reliable platform when auto trading.

/ There are lots of coders who will code up strategies for you at minimal cost.I will provide links if anyone is interested.

/ It is the best platform to learn coding on as solutions are always just a google away.

/Any coding problem or in fact any problem I have been able to solve just by googling the issue as the volume of info on the net for MT4 is unsurpassed IMO.

/In my experience Backtesting results are closer to live trading results than some other platforms.

/MT4 is free and has a large number of brokers supporting it so spreads are competitive (cost to trade).

/ the ability to trade .10c/pip or even 1c/pip allowing you to test live

Multicharts/TradeStation...... Multicharts is my second choice due to the large amount of code and strategies out there and the fact that easy language is easier to understand . I'm not sure why you would use Trade Station over Multicharts seeing as Multicharts is a modernized version of Trade Station with significant enhancements.

Last edited by waza1960; July 19th, 2012 at 06:06 AM. Reason: addition
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Old July 25th, 2012, 02:55 PM   #14 (permalink)
Fortitudo et Honor
Austin, TX
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: Futures
Posts: 882 since Mar 2011
Thanks: 128 given, 700 received

I wouldn't touch Metatrader after seeing some of the videos of people who had access to broker versions that could manipulate trader's orders and slippage

"A dumb man never learns. A smart man learns from his own failure and success. But a wise man learns from the failure and success of others."
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Old July 25th, 2012, 03:05 PM   #15 (permalink)
Fortitudo et Honor
Austin, TX
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: Futures
Posts: 882 since Mar 2011
Thanks: 128 given, 700 received

Futures Edge on FIO

How much money do you need to trade futures successfully?

My thoughts on Tradestation (for auto trading).


Data...Tradestion has great data.
Wide usage/Large community of EL programmers, existing code, indicators, studies, strategies, etc.
Tradestations strategy devlopment tools are top notch. Optimizer, walk forward optimizer, monte carlo analysis, etc.
Stable....I rarely have software or crash issues with TS (as opposed to others I've heard about).
Easy Language....much more intuitive than most of the competitor languages, even a novice can become fairly proficient very quickly.

Broker, although TS is a pretty competitive broker, you don't have an option (unlike open platforms like Ninja). Other platforms can allow your choice of broker and data.
Functionality, TS is great for anything that's currently "normal" or mainstream. TS is not cutting edge. Their data is timestamped to the second, their advanced charts (Renko, Range, Kagi, Kase) are VERY limited in functionality, which requires a great deal of trickery and gymnastics to implement a lot of advanced concepts and techniques.
Fee structure....TS doesn't allow you to sim for free. You pay a data fee and a platform fee (unless you trade at least 10 rountrips/month). Like most brokerages, the more you trade, the more you save, but it takes quite a bit to get into really substantive savings.

In essence, if you're not into trading on advanced charting with fairly advanced techniques like multi-timeframe, modified renko charts, etc....TS is a solid pick.

If I had it to do over again, I'd go with Multi Charts...simply because of the more cutting edge capabilities/functionalities, then again I've not used MC, so their strategy development compliments, might not be as robust.

Others can speak for Ninja....which from my observations gives the most flexibility, but the coding is more difficult and Ninja isn't exactly a reliable platform (depending on who you ask)

"A dumb man never learns. A smart man learns from his own failure and success. But a wise man learns from the failure and success of others."
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