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Reliable Discretionary Futures Trading Platform with ATM
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Reliable Discretionary Futures Trading Platform with ATM

  #11 (permalink)
Elite Member
Luxembourg
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: IB / Kinetick
Favorite Futures: ZN
 
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Posts: 482 since Apr 2012
Thanks: 650 given, 625 received


Futures Operator View Post
How is the execution, fills, and speed through IB? In the past I have heard they are not the best for speed in futures data/execution?

I don't think the fill is related much to IB with futures; at least the instrument I trade the most (ES)
The Globex usually works in a first come first served basis, and the fill depends on where you are placed in the queue...

For stocks I am quite satisfied with their SMART routing.

Successful people will do what unsuccessful people won't or can't do!
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  #12 (permalink)
Elite Member
Prague, Czech Republic
 
Futures Experience: Advanced
Platform: AgenaTrader, Track'nTrade
Broker/Data: DeCarley/OEC, IBKR, IQFeed
Favorite Futures: futures, options
 
Posts: 180 since Sep 2010
Thanks: 66 given, 83 received


Futures Operator View Post
I currently use thinkorswim for charting, and for my purposes, its quick, intuitive, easy to use, and recently has been reliable and lag free (not sure about in a "market event" lately, in the past it has frozen), and I have been using it for quite some time so am comfortable with it. May look for an alternative in the future if I see the need, maybe for chart based/integrated trading for simplicity, but satisfied for now.

For execution, I am using TransAct, which is mostly fine, but lacks some features I would possibly like, mostly in profit taking strategies like NT's ATM, ie auto adjusting stop to BE when trading a single contract, changing trail stop/ATM strategy after trade is initiated, more complex ATM strategies, having multiple ATM strategies saved and ready to quickly/easily select, etc. Also built in account performance sounds nice.

I have used Ninjatrader 6.5, and liked the features it had in this regard, but want something reliable, that does not freeze, crash, disconnect, require deleting databases, maintenance, big fixes, upgrades, etc. I just want to trade and not worry about fixing my software. TransAct is great in this regard, it's just a simple execution platform, and doesn't seem to break, which is really what I need, plus better ATM.

I have messed around with Multicharts and MCDT minimally, but did not find them quick/intuitive to use. I have not tried NT7, as when I looked into it, seemed like there were still the same type of issues as NT 6.5, constant fixes, etc. I would still be open to these if the NT issues have been fixed or MC is more user friendly.

In summary, I am trading CL, and looking for advice/suggestions on broker/execution platform, that have good commissions, speed, quick/intuitive interface, and reliability for discretionary trading with advanced ATM. Appreciate any thoughts from traders on your experiences.

Do yourself a favor and have a look at Buttontrader in case you are considering Interactive Brokers. One of the best DOMs with advanced ATMs.

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  #13 (permalink)
Elite Member
New York, NY
 
Futures Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker/Data: Amp-Rithmic/TT, IB
Favorite Futures: CL, GC, NQ
 
Posts: 569 since Nov 2010
Thanks: 1,797 given, 249 received



Fat Tails View Post
I have not personally tested all these platforms. But I know which platforms are around that offer decent charting and execution capabilities. I assumed that you would not consider any platform that does not come with a DOM/chart trader. For example I did not list Ensign Windows or Investor RT for that reason. I did not list MetaTrader, because it is more geared towards FOREX and not towards futures. Your question was about futures.

X-Trader has generally been considered as the industry standard. Both CQG and X-Trader are more expensive than the average retail trader is willing to pay.

But please, let the current users of those platforms speak up!

I prefer the use of a broker independant software, because the real challenge is not to select a software platform, but to learn how to use it correctly. It has certainly taken me more than a year to understand many of the features that are offered by NinjaTrader. And it will take me another year to learn how to use MultiCharts.

In terms of investement, the highest cost is the time you spend to understand the platform, not the few $$$ you pay for acquiring it. I do not want to make that investment and lose the freedom of selecting a different broker. I have developed custom indicators, which I need for my trading. Recoding all that stuff for a different platform is a nightmare.

I am very lucky that I had selected NinjaTrader as a platform. With the new .NET version for MultiCharts, I can easily port my indicators to that platform and I can also reuse the indicator with CQG. This allows me to remain independent and change brokers whenever I wish to do so. I am not locked up!

I have simple needs for charting, I just use a few different time charts, no complex/custom indicators. Just pivot points, atr, adx, opening range, and drawing tools: fibs, trendlines, channels, and price levels, that's it. But I agree on the cost of time, that is why I am hesitant to mess with changing my charting platform that I have been using for years and am familiar, skilled, and fast with, and have no complaints about. Why mess with something if it's not broken?

In that sense, since I have used NT 6.5 in the past and am somewhat familar with it and it has the features I want, and someone said they have no reliability issues with NT7, perhaps it makes sense to check that out. Can you comment on its reliability and the issues I mentioned I had in the past?

Is there anything concrete the more expensive platforms do better that makes them worth paying more for?


Last edited by Futures Operator; August 8th, 2012 at 05:20 PM.
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  #14 (permalink)
Elite Member
New York, NY
 
Futures Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker/Data: Amp-Rithmic/TT, IB
Favorite Futures: CL, GC, NQ
 
Posts: 569 since Nov 2010
Thanks: 1,797 given, 249 received


rani View Post
Do yourself a favor and have a look at Buttontrader in case you are considering Interactive Brokers. One of the best DOMs with advanced ATMs.

Thanks for the suggestion, would love more information. What makes it one of the best DOMs with advanced ATM, how is it better than NT or the others?

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  #15 (permalink)
Elite Member
Prague, Czech Republic
 
Futures Experience: Advanced
Platform: AgenaTrader, Track'nTrade
Broker/Data: DeCarley/OEC, IBKR, IQFeed
Favorite Futures: futures, options
 
Posts: 180 since Sep 2010
Thanks: 66 given, 83 received


Futures Operator View Post
Thanks for the suggestion, would love more information. What makes it one of the best DOMs with advanced ATM, how is it better than NT or the others?

First of all it needs to be said it works only with IB as a broker.
Advanced ATMs: you can define almost any entry and exit managements you can think of, easily.
There is a lot of information on theirs website and demo/trial exists as well I believe.

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  #16 (permalink)
Elite Member
Denver, CO
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage
Favorite Futures: ES
 
NinjaTrader's Avatar
 
Posts: 1,260 since May 2010
Thanks: 153 given, 1,890 received

The futures.io (formerly BMT) community is very active with thousands of NinjaTrader users greater than 99% of them using NT7. If NT7 was not reliable, I am sure you would read about it here first.

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  #17 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,651 since Mar 2010
Thanks: 4,226 given, 25,599 received
Forum Reputation: Legendary


Futures Operator View Post
Thanks for the suggestion, would love more information. What makes it one of the best DOMs with advanced ATM, how is it better than NT or the others?

I have also checked ButtonTrader a few years ago, and I must say that I was impressed. It is an execution-only front end, which means that it comes without charting or anything else.

It is the most sophisticated automated trade management front-end that I have seen. And this is what is probably its only weakness. The features are too complex for being exploited. In my tests ButtonTrader has been extremely reliable. I had also tested other front ends, in particular ZeroLineTrader (which messed up the execution several times) and BracketTrader. I did not continue to use ButtonTrader for two reasons

-> too many features I could not use
-> monthly subscription fee of € 49 ($ 60)

ButtonTrader - Day-Trading front-end - - IB frontend - direct access trading of stocks, futures and options around the World - TWS frontend - Trading frontend - Front End for IB

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  #18 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,651 since Mar 2010
Thanks: 4,226 given, 25,599 received
Forum Reputation: Legendary


Futures Operator View Post
I have simple needs for charting, I just use a few different time charts, no complex/custom indicators. Just pivot points, atr, adx, opening range, and drawing tools: fibs, trendlines, channels, and price levels, that's it. But I agree on the cost of time, that is why I am hesitant to mess with changing my charting platform that I have been using for years and am familiar, skilled, and fast with, and have no complaints about. Why mess with something if it's not broken?

In that sense, since I have used NT 6.5 in the past and am somewhat familar with it and it has the features I want, and someone said they have no reliability issues with NT7, perhaps it makes sense to check that out. Can you comment on its reliability and the issues I mentioned I had in the past?

Is there anything concrete the more expensive platforms do better that makes them worth paying more for?

I had hundreds of crashes with NinjaTrader 6.5, but next to none with NinjaTrader 7.0.

I am happy with the product, and I am even more happy with the support, because they have been very reactive and open, explaining why some features can not be added now.

However, I do not want to promote NinjaTrader here. I think that both MultiCharts (since they recently added the DOM) and SierraChart are viable alternatives.

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  #19 (permalink)
Elite Member
New York, NY
 
Futures Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker/Data: Amp-Rithmic/TT, IB
Favorite Futures: CL, GC, NQ
 
Posts: 569 since Nov 2010
Thanks: 1,797 given, 249 received


Fat Tails View Post
I had hundreds of crashes with NinjaTrader 6.5, but next to none with NinjaTrader 7.0.

I am happy with the product, and I am even more happy with the support, because they have been very reactive and open, explaining why some features can not be added now.

However, I do not want to promote NinjaTrader here. I think that both MultiCharts (since they recently added the DOM) and SierraChart are viable alternatives.

So you still had some rare crashes with NT7, what caused them/were the issues resolved? NT has what I am looking for and I am familiar with it, so if they have fixed all of the reliability problems (hard to believe after using 6.5), I'm willing to try it again.

What brokers/feeds are the best options for execution/fills/speed/reliability on NT? How would you compare them, and what would you recommend? CL moves fast, and I do trade a 1min chart, so I don't want any latency that can be avoided. And of course uptime/connection stability/quick automatic reconnecting are critical.


Last edited by Futures Operator; August 9th, 2012 at 03:54 AM.
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  #20 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,651 since Mar 2010
Thanks: 4,226 given, 25,599 received
Forum Reputation: Legendary



Futures Operator View Post
So you still had some rare crashes with NT7, what caused them/were the issues resolved? NT has what I am looking for and I am familiar with it, so if they have fixed all of the reliability problems (hard to believe after using 6.5), I'm willing to try it again.

What brokers/feeds are the best options for execution/fills/speed/reliability on NT? How would you compare them, and what would you recommend? CL moves fast, and I do trade a 1min chart, so I don't want any latency that can be avoided. And of course uptime/connection stability/quick automatic reconnecting are critical.

I only had crashes with NT7, when I did some naughty things. It is absolutely stable during normal trading conditions.

I have not tried out many different brokers, and further more I am trading from Europe through an access point in Switzerland. For your purposes you should ask somebody else.

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